Rain Industries Q2 FY27 Results: Consolidated Net Profit ₹243 Crore on Total Income of ₹5,521 Crore
- Earnings
- Carbon and advanced materials
Reviewed byRachit TripathiBlacklitt Research
Rain Industries (NSE: RAIN) reported a consolidated net profit of ₹243.28 crore on total income of ₹5,521.48 crore for the quarter ended 30 Sep 2026, and a standalone net profit of ₹34.79 crore on total income of ₹63.20 crore, it said in a filing on 06 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹5,521.48 crore, up 22.4% YoY and 6.2% QoQ
- Net profit: ₹243.28 crore, up 86.7% YoY and down 28.7% QoQ; ₹210.66 crore attributable to owners
- EPS: ₹6.26 basic and diluted, against ₹3.15 a year earlier
- Finance costs: ₹266.19 crore, up 12.2% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹63.20 crore, up 78.7% YoY and 133.2% QoQ
- Net profit: ₹34.79 crore, up 208.8% YoY from ₹11.27 crore
- EPS: ₹1.03 basic and diluted, against ₹0.33 a year earlier
- Other income: ₹39.89 crore, up 268.9% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 5,521.48 | 4,510.73 | +22.4% | 5,200.22 | +6.2% | |
| Revenue from operations | 5,485.90 | 4,475.71 | +22.6% | 5,167.16 | +6.2% |
| Other income | 35.58 | 35.02 | +1.6% | 33.06 | +7.6% |
| 243.28 | 130.32 | +86.7% | 340.99 | -28.7% | |
| Profit before tax | 358.02 | 191.33 | +87.1% | 501.07 | -28.5% |
| Finance costs | 266.19 | 237.28 | +12.2% | 251.37 | +5.9% |
| Depreciation | 254.14 | 235.68 | +7.8% | 244.67 | +3.9% |
| Tax expense | 114.74 | 61.00 | +88.1% | 160.08 | -28.3% |
| Net profit margin | 4.41% | 2.89% | +1.52 pp | 6.56% | -2.15 pp |
| EPS, basic (₹) | 6.26 | 3.15 | +98.7% | 8.81 | -28.9% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit grew faster than total income over the year: profit rose 86.7% against 22.4% for total income, and profit before tax rose 87.1%. Revenue from operations rose 22.6%, while other income rose only 1.6%, so the growth is mostly in operating revenue.
Costs rose too. Finance costs of ₹266.19 crore are 4.8% of total income this quarter, up 12.2% on ₹237.28 crore a year earlier, and depreciation rose 7.8% to ₹254.14 crore. The tax charge of ₹114.74 crore is 32.0% of profit before tax of ₹358.02 crore.
Against the previous quarter the picture reverses: total income rose 6.2%, but net profit fell 28.7%, as profit before tax fell 28.5% and tax fell 28.3%. The segment note shows Carbon revenue of ₹42,427.76 million and Advanced Materials of ₹12,810.45 million, with Cement reporting a segment loss of ₹175.79 million in the quarter.
Of the ₹243.28 crore net profit, ₹210.66 crore is attributable to owners of the company and ₹32.62 crore to non-controlling interests, as the statement shows. The nine-month attributable profit is ₹628.30 crore.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 63.20 | 35.37 | +78.7% | 27.10 | +133.2% | |
| Revenue from operations | 23.32 | 24.56 | -5.1% | 26.08 | -10.6% |
| Other income | 39.89 | 10.81 | +268.9% | 1.02 | n/a |
| 34.79 | 11.27 | +208.8% | 1.23 | n/a | |
| Profit before tax | 39.91 | 11.22 | +255.7% | 1.26 | n/a |
| Finance costs | 3.69 | 4.01 | -8.1% | 3.54 | +4.2% |
| Depreciation | 0.14 | 0.14 | -5.6% | 0.14 | -6.9% |
| Tax expense | 5.12 | -0.05 | n/a | 0.03 | n/a |
| Net profit margin | 55.04% | 31.85% | +23.19 pp | 4.52% | +50.52 pp |
| EPS, basic (₹) | 1.03 | 0.33 | +212.1% | 0.04 | n/a |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 208.8% to ₹34.79 crore, faster than revenue from operations, which fell 5.1% to ₹23.32 crore. Other income of ₹39.89 crore is 63.1% of total income and 99.9% of profit before tax of ₹39.91 crore, so almost all of the quarter's pre-tax profit sits in other income.
Tax was a charge of ₹5.12 crore, 12.8% of profit before tax, against a small credit a year earlier. Finance costs of ₹3.69 crore are 5.8% of total income. The notes do not explain the rise in standalone other income, which the filing puts at ₹398.86 million against ₹10.20 million in the previous quarter.
The standalone and consolidated figures are of different scale: consolidated total income is ₹5,458.28 crore higher than standalone, and consolidated net profit is ₹208.49 crore higher.
The company's own notes describe the Severtar Holding Limited matter in Cyprus as one of geopolitical uncertainty: the board of that subsidiary is non-functional and compliance work is continuing. Note 2 says management believes the group complies with applicable laws and does not foresee recoverability issues, based on internal assessment and external counsel opinions.
Inference
The filing declares a second interim dividend of ₹0.50 per equity share (25% on a face value of ₹2), aggregating ₹168.18 million, with 13 Nov 2026 fixed as the record date for the financial year ending 31 Dec 2026.
The auditor issued an unmodified limited review report on both sets of results and draws attention to note 2 on sanctions, without modifying its conclusion. The filing does not say how the Severtar matter will be resolved or what it would cost if it were not.
Filed with BSE on . Reference: Original filing (PDF)
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