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Petrochemicals company Rain Industries announced Q3CY23 results:
Financial Performance:
- Net Revenue for Q3CY23 was Rs 41.60 billion, a decrease of ~25.5% compared to Q3CY22.
- Adjusted EBITDA for Q3CY23 was Rs 3.76 billion, a decrease of Rs 6.02 billion compared to Q3CY22.
- Adjusted Net Profit After Tax for Q3CY23 was Rs (0.57) billion, a decrease compared to Rs 4.60 billion in Q3CY22.
- Adjusted EPS for Q3CY23 was Rs (1.69), a decrease compared to Rs 13.68 in Q3CY22.
- As of September 30, 2023, the company had a Gross Debt of USD 1,080 million and a Net Debt of USD 758 million.
- The company has liquidity of USD 502 million as of September 30, 2023, to meet its commitments.
Segment Performance:
Carbon:
- Sales volumes for Q3CY23 were 545 thousand metric tonnes, a decrease of 7.6% compared to Q3CY22.
- Revenue from the Carbon segment decreased by 29.3% in Q3CY23 compared to Q3CY22.
Advanced Materials:
- Sales volumes for Q3CY23 were 68 thousand metric tonnes, a decrease of 15.0% compared to Q3CY22.
- Revenue from the Advanced Materials segment decreased by 17.2% in Q3CY23 compared to Q3CY22.
Cement:
- Sales volumes for Q3CY23 decreased by 0.4% compared to Q3CY22.
- Revenue from the Cement segment decreased by 5.1% in Q3CY23 compared to Q3CY22.
