Slide 1: Rain Industries Limited - Stock Exchange Filing Letter
RAIN INDUSTRIES LIMITED RIL/SEs/2024 May 9, 2024 The General Manager The Manager Department of Corporate Services Listing Department BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Fort Bandra East Mumbai-400 001 Mumbai – 400 051
Slide 2: Earnings Presentation – Q1 CY24
RAIN INDUSTRIES LIMITED Earnings Presentation – Q1 CY24 RAIN is a leading vertically integrated global producer of a diversified portfolio of products that are essential raw materials for staples of everyday life. We operate in three business segments: Carbon, Cement and Advanced Materials. Our Carb
Slide 3: Forward-Looking Statement
Forward-Looking Statement This presentation contains forward-looking statements based on management’s current expectations, estimates and projections. All statements that address expectations or projections about the future, including our statements addressing our expectations for segment volumes an
Slide 4: Key Highlights – Q1 2024
Key Highlights – Q1 2024 • Revenue from Operations was ₹36.70 billion • Adjusted EBITDA was ₹3.26 billion • Adjusted Net Loss After Tax was ₹(1.62) billion • Adjusted Loss per share was ₹(4.81) • Capital expenditure of US$ 17 million for the three-month period ended March 31, 2024 • Liquidity of US$
Slide 5: Aluminium Market Update
Aluminium Market Update Primary Aluminium Production Growth in Thousand Tonnes Not to Scale 28,754 29,121 29,814 30,251 40,145 41,194 41,877 41,945 2022 2023 China ROW 2024 (F) 2025 (F) LME AL Inventory (Million MT) vis-à-vis LME AL Quote (000 US$ per MT) 4.0 2 Inventory LME Quote LMQ Quote ())) US$
Slide 6: Price Trend of Key Products and European Natural Gas
Price Trend of Key Products and European Natural Gas Not to Scale 1,338 1,473 1,135 996 984 972 899 803 791 864 Improved quotations 706 675 700 635 709 helping Advanced 626 592 700 552 Materials segment 647 529 568 455 498 415 420 445 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Fu
Slide 7: Revenue by End Industry
Revenue by End Industry Coatings Wood preservation TiO2 Energy 3% Energy TiO2 4% 3% Coatings 2% 1% 4% Others 3% 22% Specialty chemicals 2% Others Wood preservation 17% 5% Carbon black 7% Specialty chemicals 3% Graphite 4% Carbon black 9% Graphite 4% Construction 11% Aluminium 38% Aluminium Construct
Slide 8: Consolidated Revenue and EBITDA Q1-2024
Consolidated Revenue and EBITDA Q1-2024 (₹ in Billions) Revenue (excluding other operating income) Adjusted EBITDA Note: Charts not to scale 7
Slide 9: Carbon: Revenue and EBITDA
Carbon: Revenue and EBITDA Q1 CY24 Q4 CY23 2,315 Q1 CY23 CY23 17.57 132.97 • Revenue decrease driven by o Lower realisations across all key products due to fall in market quotations o Lower volumes due to delayed shipments • EBITDA decrease due to o lower volumes 6.29 o lag in cost resets of raw-mat
Slide 10: Advanced Materials: Revenue and EBITDA
Advanced Materials: Revenue and EBITDA Q1 CY24 Q4 CY23 Q1 CY23 CY23 254 1.51 32.32 • Revenue in Q1 CY24 increase driven by o increase in volumes driven by Red sea crisis impacting Asian supplies and availability of raw materials compared to earlier quarters 0.62 o Offset by lower average prices driv
Slide 11: Cement: Revenue and EBITDA
Cement: Revenue and EBITDA Q1 CY24 Q4 CY23 Q1 CY23 CY23 3,238 15.23 • Revenue in Q1 CY24 decrease driven 1.06 by o Decrease in realisations o Offset by increase in volumes • EBITDA declined due to 0.54 o Lower realisations 896 787 4.26 3.77 o Higher operating costs 806 3.67 0.24 0.17 Volumes (MT 000
Slide 12: Debt Summary
Debt Summary US$ in Millions Mar 2024 Dec 2023 Cash Inflows / Outflows during Q1 2024 USD-denominated Senior Secured Notes 50 50 • Operating cash flows includes net working capital (due in April 2025) inflows of ₹1.55 billion (compared to inflows USD-denominated Senior Secured Notes of ₹6.76 billion
Slide 13: Key Takeaways
Key Takeaways • Margins expected to normalize in the second half of 2024. • CAQM order partially implemented with the DTA plant receiving a higher allocation compared to the previous year. • Allocation to SEZ unit is still under progress and expect to receive pending permissions in Q2 2024. • Primar
Slide 14: Thank You
Thank You RIO
Slide 15: Appendix
Appendix
Slide 16: Summary of Consolidated Income Statement
Summary of Consolidated Income Statement ₹ in Millions Particulars Q1 2024 Q4 2023 Q1 2023 CY 2023 Net Revenue 36,570 40,788 52,093 180,518 Other Operating Income 132 218 442 897 Revenue from Operations 36,702 41,006 52,535 181,415 Reported EBITDA 3,466 1,678 5,370 17,374 Adjusted EBITDA 3,258 2,779
Slide 17: Reconciliation of EBITDA and PAT
Reconciliation of EBITDA and PAT ₹ in Millions Particulars Q1-2024 EBITDA PAT A. Reported 3,466 (1,459) B. Adjustments/Exceptional items: • Expenses towards non-recurring items 16 16 • Foreign exchange loss/(gain) on inter-company debt note (224) (224) • Tax impact on above adjustments - 50 C. Adjus
Slide 18: RAIN – Key Business Strengths
RAIN – Key Business Strengths • Three business segments (Carbon, Advanced Materials and Cement) • Global presence with 2.4 million tonnes p.a. calcination capacity, 1.0 million tonnes p.a. CPC blending capacity, 1.3 million tonnes p.a. coal tar distillation capacity, 0.4 million tonnes p.a. advanced