This analysis examines Rain Industries Limited (RAIN) through the lens of its financial statements, valuation metrics, and institutional ownership patterns.
RAIN Revenue Trend
Rain Industries Limited couldn't sustain its prior revenue levels, with the top line falling 14.7% to ₹15,620 Cr in FY2024.
A 2.7% CAGR over 10 years is underwhelming. In real terms, Rain Industries Limited's revenue has barely grown from ₹11,937 Cr to ₹15,620 Cr.
Rain Industries Limited's ₹15,620 Cr revenue base puts it in the major bracket among cement and cement products companies in India.
| Year | Revenue | YoY % |
|---|---|---|
| FY2024 | ₹15,620 Cr | -14.7% |
| FY2023 | ₹18,320 Cr | -13.2% |
| FY2022 | ₹21,116 Cr | +43.5% |
| FY2021 | ₹14,720 Cr | +40.7% |
| FY2020 | ₹10,465 Cr | — |
View Rain Industries Limited's full 10-year revenue trend with CAGR analysis →
RAIN Profitability
On an EPS basis, the company earned ₹-16.78 (diluted) in FY2024 versus ₹-27.89 in FY2023.
Is RAIN Undervalued
Under the P/E Ratio approach, Rain Industries Limited's estimated fair value is ₹420 (109.7% upside).
Rain Industries Limited shares are currently trading at ₹200.47.
Craytheon also calculates intrinsic value using the EPS Growth and DCF models. The full breakdown with assumptions is available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹420 | 109.7% upside to fair value |
| EPS Growth | Upgrade | Upgrade |
| DCF | Upgrade | Upgrade |
See all valuation models for Rain Industries Limited with detailed assumptions →
RAIN Shareholding Pattern
The promoter group has maintained its 41.4% holding through the last 4 quarters.
The FII stake is at 8.1% as of March 2026, compared to 10.8% in the year-ago period.
The DII stake stands at 2.1% as of March 2026, versus 4.8% in the year-ago period.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Mar 2026 | 41.4% | 8.1% | 2.1% | 48.1% |
| Dec 2025 | 41.2% | 8.5% | 4.9% | 45.1% |
| Sep 2025 | 41.2% | 10.4% | 4.6% | 43.4% |
| Jun 2025 | 41.2% | 10.8% | 4.8% | 42.8% |
Track quarterly shareholding changes for Rain Industries Limited →
RAIN Balance Sheet
Proportional view as of 3 Jun 2026. Hover blocks for details.
Assets
Liabilities & Equity
FY2024 total assets: ₹189.37B (down 5.4% YoY from ₹200.09B).
Top categories: Intangibles & Goodwill (33.0%), Property, Plant & Equipment (25.5%), Inventories (16.1%).
Of the ₹189.37B in liabilities and equity, 36.0% is shareholder equity, 44.9% is interest-bearing debt, and 19.1% is operating liabilities. Over the year, debt is down 2.3% and equity is down 12.1%.
Balance sheet composition — FY 2024
| Category | Value |
|---|---|
| Cash & ST Investments | 13.24B |
| Receivables | 17.30B |
| Inventories | 30.52B |
| Property, Plant & Equipment | 48.33B |
| Investments | 229.82M |
| Intangibles & Goodwill | 62.48B |
| Other Assets | 17.26B |
| Category | Value |
|---|---|
| Equity | 68.25B |
| Short-term Debt | 15.42B |
| Long-term Debt | 69.52B |
| Trade Payables | 15.21B |
| Other Liabilities | 20.97B |
What Stands Out About RAIN
Pulling it all together, here's what the numbers say about Rain Industries Limited (RAIN) heading into the next fiscal year.
Revenue of ₹15,620 Cr in FY2024, down 14.7% year-over-year.
Long-term revenue has been compounding at 2.7% annually over 10 years.
The company reported a net loss of ₹450 Cr in FY2024.
The P/E Ratio model implies 109.7% upside to fair value from the current price. The remaining two models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
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