Adjusted EBITDA for Q1 CY23 stood at Rs 684.6 crore, down 17.99% as against Rs 834.8 crore reported in Q1 CY22. Adjusted EBITDA margin reduced to 13% in Q1 CY23 as compared with 18.8% in Q1 CY22.

On segmental front, Carbon sales volumes during Q1 CY23 were 626 thousand metric tonnes, an increase of 2.1% as compared to 613 thousand metric tonnes in Q1 CY22. The increase in volumes was primarily driven by higher throughputs. During Q1 CY23, the average blended realisation increased by 28.7% on account of higher raw material costs and product mix. Overall, due to the aforesaid reasons, revenue from the Carbon segment increased by 31.4% in Q1 CY23, as compared to Q1 CY22.

Advanced Materials sales volumes during Q1 CY23 were 61 thousand metric tonnes, a decrease of 26.5% as compared to 83 thousand metric tonnes in Q1 CY22. The decrease in volumes was primarily driven by lower production on account of closure of aromatic chemicals business and temporary shutdown of facilities. Due to the aforesaid reasons, revenue from the Advanced Materials segment decreased by 17.8% during Q1 CY23, as compared to Q1 CY22.

The Cement revenue decreased by 2% during Q1 CY23 as compared to Q1 CY22 due to a decrease in volumes by 1.4% and decrease in realisations by 0.6%.

As at 31 March 2023, the company had a gross debt of US$ 1,042 million (including working capital debt of US$ 146 million), cash and cash equivalents of US$ 293 million (including restricted cash), unamortised deferred finance cost of US$ 5 million and net debt of US$ 890 million.

Meanwhile, the board declared an interim dividend of Re 1 per equity share for the year ended on 31 December 2023 and fixed 19 May 2023 as record date for the same.

Rain Industries is a vertically integrated global producer of a diversified portfolio of products that are essential raw materials. It operates in three business segments: Carbon, Advanced Materials and Cement.