Rain Industries Limited (RAIN) AI Stock Analysis

Rain Industries Limited

(NSE:RAIN)

Select Model

Rating:60Neutral

Price Target:INR 204.00▲(5.13% Upside)

Action:reiterated

Date:10/15/26

Overall score reflects strong technical momentum (uptrend across moving averages and positive MACD) offset by weaker fundamentals: volatile earnings, elevated leverage, and a sharp deterioration in 2025 free cash flow. Valuation is reasonable (P/E ~14.85) but the low dividend yield provides limited downside cushion.

Positive Factors

Revenue GrowthReported revenue growth of roughly 17% indicates renewed top-line expansion and provides evidence of demand across the company’s industrial businesses. If sustained, this growth can improve operating absorption, support reinvestment, and strengthen the earnings base over the next several quarters.

Negative Factors

Volatile ProfitabilityThe shift from healthy earlier margins to losses and then only a thin 2025 profit shows limited earnings resilience. Such volatility leaves little buffer against changes in product pricing, input costs, operating conditions, or financing and tax expenses.

Rain Industries Limited (RAIN) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 65.29B
Dividend Yield: 0.52%
Average Volume (3M): 236.42K
Price to Earnings (P/E): 12.2
Beta (1Y): 1.35
Revenue Growth: 17.02%
EPS Growth: ―
Country: India
Employees: 2,323
Sector: General
Sector Strength: 55
Industry: Chemicals - Specialty

Rain Industries Limited Business Overview & Revenue Model

Company Description

Rain Industries Limited is a vertically integrated global producer of carbon, cement, and advanced materials. The company's carbon segment converts byproducts from oil refining and steel production into products like Calcined Petroleum Coke (CPC) and...

How the Company Makes Money

RAIN primarily makes money by manufacturing and selling carbon and chemical products used as critical inputs in heavy industry, complemented by revenue from cement. A major revenue stream comes from its carbon business, where it supplies calcined pet...

Rain Industries Limited Financial Statement Overview

Summary

Financial performance is mixed and volatile. Profitability swung from solid results (2020–2022) to losses (2023–2024) and only a very thin profit in 2025 (~0.3% net margin). Leverage remains elevated (debt-to-equity ~1.39 in 2025), and 2025 cash generation weakened materially with negative free cash flow (~-3.3B), reducing financial flexibility.

Income Statement

54Neutral

Balance Sheet

57Neutral

Cash Flow

42Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	184.64B	169.46B	152.67B	180.52B	209.06B	143.70B
Gross Profit	58.11B	50.53B	27.21B	31.01B	74.67B	56.47B
EBITDA	28.48B	21.89B	15.22B	11.11B	36.27B	25.53B
Net Income	5.37B	425.24M	-5.64B	-9.38B	14.39B	5.80B
Balance Sheet
Total Assets	227.65B	207.60B	189.37B	200.09B	221.73B	186.52B
Cash, Cash Equivalents and Short-Term Investments	16.16B	15.30B	19.11B	21.82B	14.83B	13.55B
Total Debt	107.95B	98.24B	84.94B	86.90B	97.31B	84.89B
Total Liabilities	144.92B	130.69B	121.12B	122.43B	133.90B	122.86B
Stockholders Equity	79.95B	74.49B	66.38B	73.43B	84.27B	61.09B
Cash Flow
Free Cash Flow	8.80B	-3.31B	12.90B	24.68B	3.67B	2.86B
Operating Cash Flow	10.94B	1.30B	19.43B	30.63B	10.36B	8.34B
Investing Cash Flow	-3.39B	-5.04B	-2.12B	-6.96B	-6.63B	-5.27B
Financing Cash Flow	-10.72B	-1.49B	-17.71B	-21.15B	-3.96B	-7.40B

Rain Industries Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price194.05

Price Trends

50DMA210.89Negative

100DMA208.46Negative

200DMA175.16Positive

Market Momentum

MACD-3.13Positive

RSI39.32Neutral

STOCH22.45Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RAIN, the sentiment is Negative. The current price of 194.05 is below the 20-day moving average (MA) of 213.06, below the 50-day MA of 210.89, and above the 200-day MA of 175.16, indicating a neutral trend. The MACD of -3.13 indicates Positive momentum. The RSI at 39.32 is Neutral, neither overbought nor oversold. The STOCH value of 22.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:RAIN.

Rain Industries Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:RAIN against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:FOSECOIND	73Outperform	INR 44.08B	43.96	―	0.43%	32.24%	3.05%
IN:RAIN	60Neutral	INR 65.27B	12.15	―	0.52%	17.02%	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:DEEPAKNTR	55Neutral	INR 207.25B	19.51	―	0.49%	25.13%	99.89%
IN:DEEPAKFERT	51Neutral	INR 138.86B	14.11	―	0.91%	13.63%	0.30%
IN:TATACHEM	47Neutral	INR 151.72B	-7.01	―	1.85%	2.04%	-742.43%

* General Sector Average

Performance Comparison

IN:RAIN and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:RAIN	Rain Industries Limited	194.05	55.55	40.11%
IN:DEEPAKFERT	Deepak Fertilisers and Petrochemicals Corporation Ltd.	1099.95	-376.72	-25.51%
IN:DEEPAKNTR	Deepak Nitrite Limited	1519.50	-208.95	-12.09%
IN:FOSECOIND	Foseco India Limited	5847.95	188.28	3.33%
IN:OCCLLTD	OCCL Limited	167.35	52.94	46.27%
IN:TATACHEM	Tata Chemicals Limited	595.55	-266.41	-30.91%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 15, 2026

Rain Industries Limited AI Stock Analysis