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Rain Industries: Operational carbon business getting back to track

March 02, 2020 / 05:23 PM IST

Highlights:
- Decline in realisations of carbon and advanced materials
Steady operating performance, unlike peers, is noteworthy
Higher allocation of green petcoke and traction in key projects are positive
Other than end-market challenges, supply chain impact due to coronavirus needs a close watch
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Rain Industries’ (CMP: Rs 103/share; market capitalisation: Rs 3,475 crore) quarterly result was weighted down by weak realisations for carbon and advance material products, majorly reflecting the sharp decline in the prices of oil derivatives. Sequentially, volumes sold was relatively better for carbon products, which is noticeable given the weak end-markets. Operating performance was much ahead of peers – Himadri Chemicals (coal tar pitch) and Goa Carbon (calcined petroleum coke).


Q4 CY19 financials
CaptureSource: Company


Q4 product sales volume trend
Capture1Source: Company