Rain Industries Limited posted net revenue of Rs2620cr in the quarter ended December 31, 2020 a decrease of 6.7% compared to Rs2809cr in the quarter ended December 31, 2019.
The company follows the calendar year in the financial results. Adjusted Profit After Tax reported in Q4CY20 was Rs115.9cr compared to Rs132.5cr in Q4CY19, a de-growth of 12.5%.
Rain Industries Ltd stock defeated the market bears to hit fresh 52-week high of Rs175.35 per piece during early deals on Friday. At around 11.05 am, each stock trading at Rs167.75 per piece up Rs1.25 or 0.75% on the BSE.
Carbon sales volumes during Q4CY20 were 641 thousand metric tonnes, a decrease of 4.2% compared to 669 thousand metric tonnes in Q4CY19.
“The decrease in volumes was primarily driven by lost CPC sales due to Hurricane Laura and reduced demand due to smelter closures,” the company said in a regulatory filing on Thursday.
During Q4CY20, the average blended realisation decreased by ~8.5%, which was offset to some extent by the appreciation of USD and EURO against Indian Rupee by ~3.6% and ~11.5% respectively. Overall, due to the aforesaid reasons, revenue from the Carbon segment decreased by ~12.3% in Q4CY20 as compared to Q4CY19, it said.
Advanced Materials sales volumes during Q4CY20 were 99 thousand metric tonnes, an increase of 7.6% as compared to 92 thousand metric tonnes in Q4CY19. The increase in volumes was driven by improved demand from Asian markets after recovery from Covid-19 and improved demand from construction industries coupled with higher throughput based on improved raw material availability.
During Q4CY20, the average blended realisation decreased by ~10.5% driven by changes in customer mix and a fall in oil-related prices, which was offset to some extent by the appreciation of EURO against Indian Rupee by ~11.5%. Due to the aforesaid reasons, revenue from the Advanced Materials segment decreased by ~3.7% during Q4CY20 as compared to Q4CY19.
Cement revenue increased by 31.9% compared to Q4CY19 due to an increase in realisations by 21.2% along with an increase in volumes by 8.8% as compared to Q4 CY19.
"During Q4CY20, adjusted EBITDA was Rs480.4cr, an increase of Rs26.9cr compared to adjusted EBITDA of Rs53.5cr achieved during Q4CY19. Adjusted EBITDA increased by Rs36.7cr in the Advanced Materials segment due to higher realisations in engineered products and volumes in naphthalene derivates compared to Q4CY19, coupled with the appreciation of the EURO against Indian Rupee.
Further, Adjusted EBITDA increased by Rs38.9cr in the Cement segment due to increase in realisations, coupled with lower costs. Adjusted EBITDA decreased by Rs48.7cr in the Carbon segment due to a decline in volumes majorly on account of Hurricane Laura," company said.
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