Rain Industries Limited has issued a regulatory clarification to BSE regarding the significant increase in trading volume of its shares, confirming that the surge is entirely market-driven with no undisclosed price-sensitive information.

Regulatory Response to BSE Inquiry

The company responded to BSE Surveillance's letter dated December 22, 2025, addressing concerns about unusual trading activity in scrip code 500339. Rain Industries emphasized its compliance with Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015, which mandates listed companies to inform exchanges about all events and information impacting company operations and performance.

Company's Position on Trading Activity

Rain Industries categorically stated that there is no undisclosed information or impending announcements, including unpublished price-sensitive information, that could influence the share price or trading volume. The management attributed the increased trading volume entirely to market forces rather than any internal corporate developments.

The company reaffirmed its commitment to providing prompt disclosure of material events to stock exchanges in accordance with regulatory requirements. This stance demonstrates the company's adherence to transparency standards expected from listed entities.

Financial Year Timeline and Results

Key upcoming milestones for Rain Industries include:

• Financial Year End: December 31, 2025
• Board Meeting: Date to be announced for approval of annual audited financial results
• Regulatory Compliance: Meeting notification will follow Regulation 29 requirements

The company assured that it will inform stock exchanges about the board meeting date for approving annual audited financial results for the financial year ending December 31, 2025, in compliance with SEBI regulations.

Commitment to Regulatory Compliance

Rain Industries emphasized its ongoing commitment to regulatory transparency by regularly intimating material events that impact company operations and performance to stock exchanges. The company's response reinforces its dedication to maintaining proper disclosure standards and keeping investors informed about significant developments that could affect share performance.

Rain Industries , a leading global producer of carbon and advanced materials, has reported its financial results for the third quarter, showcasing signs of recovery in its carbon business and unveiling ambitious expansion plans for its cement operations.

Financial Performance

The company reported an adjusted EBITDA margin of 14.5% on revenue of ₹44.76 billion for Q3. While this marks an improvement from previous quarters, management indicated that the company has not yet achieved its normalized quarterly EBITDA target.

Carbon Segment Recovery

Rain's carbon segment, which contributes significantly to the company's revenue, showed margin recovery in Q2 and Q3 after facing challenges from raw material pricing and Battery Anode Materials (BAM) impact. Both the Special Economic Zone (SEZ) and Domestic Tariff Area (DTA) plants are now operating at approximately 90% capacity following regulatory changes that allowed for Green Petroleum Coke (GPC) imports.

Cement Expansion Plans

Rain Industries has announced a ₹757 crore brownfield cement expansion project. The plan includes:

• Adding 1.5 million tonnes of clinker capacity
• Increasing cement capacity by 2.3 million tonnes
• Targeting commissioning in Q4 2027
• Projected Internal Rate of Return (IRR) of 14-16%

The expansion will also incorporate a 7MW Waste Heat Recovery (WHR) system, aiming to increase the company's green power share to 45-50% by 2028.

Debt Reduction Progress

The company reported an improvement in its net debt to EBITDA ratio, which decreased to 3.3x in Q3 from 3.9x in Q4 of the previous year. Management expects to approach a 3x ratio during the current year.

Advanced Materials and Battery Technology

Rain Industries is actively pursuing opportunities in the battery materials space:

• Secured CAD 860,000 in government funding for battery anode materials (BAM) R&D collaboration with Northern Graphite
• Total project budget of CAD 3.1 million
• Focus on transforming natural graphite processing by-products into high-performance, battery-grade anode materials

Energy Costs and Market Dynamics

Management noted that energy costs in Europe "remain manageable," with natural gas prices currently ranging between €30 to €40 per MMBtu, lower than recent peak levels but still above historical averages.

Future Outlook

While not providing specific guidance, Rain Industries' management expressed confidence in the company's positioning across both Carbon and Advanced Materials segments. The focus remains on specialty applications, proactive supply chain strategies, and capitalizing on emerging opportunities in the battery materials and sustainable cement production sectors.

As Rain Industries continues to navigate global market challenges and pursue strategic growth initiatives, investors will be watching closely to see if the company can achieve its normalized EBITDA targets and successfully execute its expansion plans in the coming quarters.