Rain Industries rallied 3.33% to Rs 172.05 after the company's consolidated net profit surged 164.7% to Rs 321.99 crore on 6.7% decrease in net sales at Rs 2,640.23 crore in Q4 December 2020 over Q4 December 2019.
Rain Industries follows calender year accounting. Consolidated profit before tax (PBT) soared 198.3% to Rs 444.94 crore in Q4 December 2020 as against Rs 149.16 crore in Q4 December 2019. The Q4 result was declared after market hours yesterday, 25 February 2021.
Consolidated adjusted EBITDA grew 5.93% to Rs 480.40 crore in Q4 December 2021 over Rs 453.50 crore in Q4 December 2019. Consolidated adjusted EBITDA margin improved to 18.2% in Q4 FY21 as against 16% in Q4 FY20.
Finance costs were Rs 123 crore during Q4 CY20 as compared to Rs 113 crore during Q4 CY19. The increase in finance costs was on account of implementation of the new lease standard coupled with the appreciation of Euro against Indian Rupee.
As of 31 December 2020, the company had a gross debt of $1,224 million (including working capital and other debt of $77 million), cash & cash equivalent of $280 million (including restricted cash), unamortised deferred finance cost of $12 million and net debt of $932 million.
During the year ended 31 December 2020, Rain Industries incurred capital expenditures of $146 million, including expansion CAPEX for the hydrogenated hydrocarbon resins project in Castrop-Rauxel (Germany), vertical-shaft kiln project in Vizag (India), mini solar power plants at cement plants in Kodad and Kurnool (India) and other maintenance projects across all locations. With the existing cash and cash equivalents and undrawn working-capital loan facilities, the firm is well placed to fund CAPEX projects and meet debt-servicing obligations in the near-term. The major debt repayments are scheduled to start in January 2025.
Rain Industries is a vertically integrated global producer of a diversified portfolio of products that are essential raw materials. It operates in three business segments: Carbon, Advanced Materials and Cement.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
