Rain Industries Q2 FY26 results: income +12%, PAT ₹130cr

Key takeaway for investors

Rain Industries Ltd reported a stronger operating quarter in Q2 FY 2025-26, with total income rising both sequentially and year-on-year and profit turning positive versus a loss a year ago. The company’s results also showed higher expenses and a lower profit before tax on a quarter-on-quarter basis, indicating that margin movement was not linear across lines. Separately, consolidated numbers shared for the March 2026 quarter and other quarterly highlights show an improving earnings trend across some periods, but with variations depending on the comparison base.

An upcoming earnings date for Rain Industries Ltd was listed as 27 Feb 2026. The stock was also shown trading around ₹191.60, down 2.72% (as on 11 Feb 2026, 15:16), and another data point showed a decline of ₹6.53 (-5.50%) (as on 13 Mar 2026, 15:58).

Q2 FY26 performance at a glance (Sep quarter)

For Q2 FY26, Rain Industries reported total income of ₹4,510.73 crore, up 1.8% QoQ from ₹4,428.91 crore in Q1 FY26 and up 11.8% YoY from ₹4,033.14 crore in Q2 FY25. Total expenses increased to ₹4,321.80 crore, up 2.3% QoQ and 4.4% YoY, as per the published financial statement summary.

Profitability improved versus the year-ago quarter. Profit after tax (PAT) was ₹130.33 crore in Q2 FY26 compared with a loss of ₹154.94 crore in Q2 FY25. However, profit before tax (PBT) came in at ₹188.93 crore, down 7.2% QoQ from ₹203.59 crore in Q1 FY26.

The company’s EPS for Q2 FY26 was reported at ₹3.15, compared with ₹1.80 in Q1 FY26 and ₹-5.33 in Q2 FY25.

What changed QoQ: expenses, tax, and PBT

The quarter showed a mixed picture on sequential profitability. While revenue moved up slightly, expenses rose faster on a QoQ basis. Tax expense was ₹61.00 crore, down 49.4% QoQ from ₹120.60 crore, and up 29.1% YoY from ₹47.25 crore.

The net result was a meaningful improvement in reported PAT versus the year-ago quarter’s loss, alongside a modest rise in EPS compared with the preceding quarter. At the same time, the QoQ decline in PBT highlights that changes in cost and other items mattered materially in the period.

Consolidated snapshot shared for Q2 FY26 (including EBITDA)

A separate Q2 FY26 results summary (announcement date listed as 6 Nov 2025) reported consolidated revenue of ₹4,475.7 crore (INR 44,757 million), up 14% YoY and 2% QoQ. It also reported EBITDA (segment results before depreciation, finance costs, tax) of ₹617.2 crore (INR 6,172 million) for Q2 FY26 versus ₹283.8 crore (INR 2,838 million) in Q2 FY25.

The same summary reported net profit of ₹130.3 crore (INR 1,303 million) versus a loss of ₹154.9 crore (INR 1,549 million) in Q2 FY25, and indicated a net profit margin of about 2.9% versus negative in the year-ago quarter.

Segment performance: Carbon, Advanced Materials, Cement

The segment disclosure in the Q2 FY26 summary showed improvement across key business lines. The Carbon segment remained the largest by revenue, and all three reported segments showed positive segment profit in Q2 FY26.

Carbon segment revenue was reported at ₹3,466.6 crore, up from ₹2,997.3 crore in Q2 FY25, with segment profit of ₹513.6 crore. Advanced Materials revenue was ₹997.7 crore with segment profit of ₹84.4 crore. Cement revenue was ₹275.9 crore with segment profit of ₹19.2 crore, described as a recovery from a loss in Q2 FY25.

Table: Q2 FY26 reported financial statement summary

All values are presented in ₹ crore.

Table: Q2 FY26 segment metrics (consolidated)

All values are presented in ₹ crore.

Other disclosures: impairments, FX classification

The Q2 FY26 summary noted there were no new impairment charges in the quarter. It also referenced that FY24 included an impairment of ₹73.0 crore (INR 730 million) on capital work in progress.

It also stated that foreign currency loans between US and Germany subsidiaries were designated as net investment, with FX losses recognized in OCI.

Additional quarterly datapoints also published

Separate reported consolidated quarterly numbers for March 2026 included net sales of ₹4,520.73 crore, EBITDA of ₹742.69 crore, and net profit of ₹121.44 crore. Another highlight set also referenced Jun ’26 revenue of ₹4,566 crore, EBITDA of ₹742.69 crore, and net profit of ₹157.86 crore (last updated date shown as 28 May 2026).

A company communication also referenced a management presentation and transcript on un-audited financial results for the first quarter ended 31 March 2026, with a published link to the presentation.

Market impact and what to track next

For investors, the key reported Q2 FY26 takeaway is the combination of double-digit YoY income growth and a return to profitability versus the year-ago loss, alongside cost growth that outpaced revenue sequentially. Segment numbers in the Q2 FY26 summary show that Carbon remained the key revenue driver, while Cement was reported to have recovered to a profit.

The next marker on the calendar, as listed, is the 27 Feb 2026 earnings date. Investors typically track whether the company sustains profit and EBITDA improvement while keeping expense growth aligned with revenue, using the published quarterly comparisons and segment disclosures.