Rain Industries reported a consolidated net profit of Rs 89.52 crore in Q4 CY22 as against a net loss of Rs 96.96 crore posted in Q4 CY21.
Revenue from operations jumped 35.54% to Rs 5,456.81 crore in the quarter ended 31 December 2022 from Rs 4,026.05 crore recorded in the same period last fiscal.
Adjusted EBITDA for Q4 CY22 stood at Rs 689.5 crore, up 27.45% as against Rs 541 crore reported in Q4 CY21. Adjusted EBITDA margin reduced to 12.6% in Q4 CY22 as compared with 13.4% in Q4 CY21.
On segmental front, the company's revenue from Carbon segment was at Rs 4,232.8 crore, registering a growth of 48.12% in Q4 CY22 over Q4 CY21. The rise in revenue was mainly driven by market quotations, higher volumes on account of timing of shipments and increased raw material prices and operating costs. Carbon sales volumes during Q4 CY22 were 617,000 metric tonnes, a decrease of 2.06% as compared to 630,000 metric tonnes in Q4 CY21 led by lower throughputs on account of longer maintenance schedules.
Revenue from Advanced Materials segment stood at Rs 767.9 crore, down 2.55% in Q4 CY22, as compared to Q4 CY21. The company said the revenue was impacted due to lower volumes. The Advanced Materials sales volumes during Q4 CY22 were 56,000 metric tonnes, down 34.12% from 85,000 metric tonnes in Q4 CY21. The decrease in volumes was driven by lower production on account of maintenance shutdowns, closure of the aromatic chemicals business and lower overall demand.
The Cement revenue jumped 28.16% year on year to Rs 410.5 crore in Q4 CY22 on the back of a 26.09% increase in sales volumes and around 2% rise in realizations.
As at 31 December 2022, the company had a gross debt of $1,181 million (including working capital debt of $152 million), cash and cash equivalents of $217 million (including restricted cash), unamortised deferred finance cost of $6 million and net debt of $958 million.
On full year basis, the company's net profit surged 147.97% to Rs 1,438.65 crore on 44.64% to Rs 21,011 crore in CY22 over CY21.
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.
Shares of Rain Industries were down 0.23% to Rs 151.15 on the BSE.
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