50 Years of Celebrating

a Legacy of
Innovation, Excellence
and Growth

2024 marks the 50th anniversary of Rain Industries Limited (RAIN)—a journey that is more than just a milestone; it is a testament to our vision, laying deep roots, weathering challenges and emerging stronger.
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The transformative
journey of RAIN

Laying the groundwork
with Cement

The Carbon
era begins

Evolving with the futureready portfolio of Advanced Materials

Becoming a global
enterprise

With perseverance and a strong commitment to growth, we expanded our horizons further.

Turning challenges
into opportunities

The journey has not been without challenges.

Synergising for
market leadership

Recognising synergies between calcined petroleum coke and coal tar pitch—both essential raw materials in aluminium production—we took another strategic leap.

Sustainability
at the core

What remains unchanged is our commitment to sustainable progress.

Forging the future:
The next chapter

While we celebrate our 50-year milestone, we look ahead with the same pioneering spirit that has defined us for half a century.

To shape the next chapter of our legacy, we will focus on five key strategic pillars that will drive sustainable growth and long-term value creation.

RAIN at a glance
We operate through our three segments: Carbon and Advanced Materials, which supply crucial raw materials to industries globally and Cement, which is a key producer of high-quality building materials in South India.
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Core strengths

#1

Global producer of
coal tar pitch

#2

Global producer of calcined
petroleum coke

Production facilities across three continents: Asia, Europe and North America

Total employees

+

Supply chain partners
across the globe

Business segment review

Carbon

  • 2.40 Mn tonnes

    Sales volume

  • `106,575 Mn

    Revenue from operations

  • 70%

    Contribution to
    consolidated revenue

Know more Our journey

Advanced
Materials

  • 0.29 Mn tonnes

    Sales volume

  • `33,786 Mn

    Revenue from operations

  • 22%

    Contribution to
    consolidated revenue

Know more Our journey

Cement

  • 2.85 Mn tonnes

    Sales volume

  • `12,312 Mn

    Revenue from operations

  • 8%

    Contribution to
    consolidated revenue

Know more Our journey
2024 HIGHLIGHTS
An eventful year

NOVARES® LCM500:
A win-win proposition

In 2024, we introduced NOVARES® LCM500, which combines renewable materials with conventional feedstocks, leading to a more sustainable, high-performance product with unmatched flexibility.

Extracting value from emissions-scrubber byproducts

What if we could turn waste into a resource? We did that precisely, creating new applications for emissions-scrubber byproducts in the US, called Stabilgro™ and Stabilsoil™ which are used in agriculture and soil stabilisation respectively.

Gold medal for RAIN’s in-house safety innovation practices

The team at our Visakhapatnam, India plant earned a gold medal for their innovative emergency spray system, raising the bar in safety at RAIN.

Electrification of steam generation: a leap towards energy efficiency

We are transforming our energy use. For example, our Hamilton, Canada plant kicked off a project to reduce emissions by electrifying the steam generation system.

Launching RAIN-wide Supplier Code of Conduct

We took a significant step in 2024 by launching RAIN-wide Supplier Code of Conduct, embedding sustainability throughout our supply chain.

Reducing particulate matter concentrations in stack emissions

We took proactive measures to reduce particulate matter emissions in 2024, exceeding upcoming regulatory standards.

Empowering future talent through water usage reduction study at Lake Charles Carbon plant

Working with a graduate student, we identified ways to lower water consumption at our Lake Charles plant by over 300,000 m³ annually.

Enforcing OSHA guidelines across segments

In 2024, we standardised OSHA safety guidelines across all our global sites, enhancing safety and best practices organisation-wide.

RAIN wins the Best Paper Award at the International Committee for Study of Bauxite, Alumina & Aluminium (ICSOBA) 2024 Conference

Engineers of the future: Promoting research through collaboration with local students

GreenCo Gold Certification for our Nandyal, India plant

Our Nandyal plant earned the GreenCo Certification in 2024 for sustainability achievements. What’s next? We are aiming for even higher standards.

Retrofitting of conventional lighting with LED lamps and solar lights

We reduced energy consumption and environmental impact with a major lighting retrofit across our India sites in 2024.

CHAIRMAN’S STATEMENT
Reflecting on 50 years of growth and resilience

Dear Stakeholders,

As we mark 50 years of RAIN, we celebrate a journey forged through resilience, foresight and the relentless pursuit of growth. For us, reaching this milestone is an achievement in itself.

Brian Jude McNamara

Chairman

Read the full statement
INSIGHTS FROM THE MANAGING DIRECTOR
Evolving as a trusted and dependable global market player

In today’s increasingly interconnected world, our preparedness, experience and adaptability are our greatest assets. We are confident of our ability to navigate new challenges. This ensures that RAIN remains a trusted, dependable presence in the global market, delivering consistent value and fostering long-lasting relationships.

Jagan Mohan Reddy

Managing Director

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How we create
value

At RAIN, we take a holistic approach to value creation by focusing on business growth and creating long-term value for our stakeholders. We closely monitor market dynamics and adapt our strategies to ensure stability and resilience. In pursuit of our business objectives, we prioritise maintaining strong relationships with our stakeholders by addressing their diverse needs that support sustainable value creation.

FINANCIAL CAPITAL
Prudent financial
management

We have fortified our financial foundation with strategic planning and risk management, ensuring steady growth. Despite rising costs, energy constraints and supply chain disruptions, we stand resilient and adaptable in a shifting economic landscape.


`153,744 Mn

Revenue

`14,981 Mn

EBITDA


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Focus areas

  • Driving growth
  • Margins and efficiency
  • Capital management
  • Capital expenditure
  • Financial stability
  • Debt management

Stakeholders impacted

  • Investors and shareholders
  • Governments and regulatory bodies
  • Employees
  • Vendors and suppliers

Material topics associated

  • Corporate governance and business ethics
  • Value chain and stakeholder management

UN SDGs impacted

MANUFACTURED CAPITAL
Strengthening capabilities for
sustainable growth

At RAIN, we are driving manufacturing excellence through strategic capacity enhancements, operational efficiencies and a strong focus on sustainability. Investments in advanced technologies and process optimisation are enabling higher productivity, improved energy efficiency and enhanced product quality.


Capacity utilisation by segment

71%

Carbon

63%

Advanced Materials

71%

Cement


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Focus areas

  • Capacity enhancement
  • Productivity and efficiency
  • Product quality and safety
  • Sustainable manufacturing
  • Ensuring raw material security

Stakeholders impacted

  • Customers
  • Governments and regulatory bodies
  • Employees
  • Vendors and suppliers

Material topics associated

  • Climate action
  • Circularity and innovation

UN SDGs impacted

INTELLECTUAL CAPITAL
Innovating with
expertise and vision

We have consistently leveraged our deep knowledge, technological expertise and proprietary processes to reinforce RAIN's unique position across its segments. Over the past year, we have actively applied these strengths to drive forward innovative projects focused on creating a cleaner and more sustainable future.


`638 Mn

R&D expenditure

9

Products launched compared to 13 in 2023


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Focus areas

  • Product and process innovation
  • Proprietary technologies
  • Digital transformation
  • Knowledge management and industry expertise

Stakeholders impacted

  • Customers
  • Employees
  • Vendors and suppliers
  • Governments and regulatory bodies

Material topics associated

  • Talent and capability development
  • Circularity and innovation
  • Cybersecurity and privacy

UN SDGs impacted

HUMAN CAPITAL
Building a
future-ready workforce

Our relentless pursuit of excellence prioritises developing and empowering our human capital. We have designed our strategic focus areas to enhance employee growth and contribute to our overarching business goals.


2,394

Total employees, compared to 2,503 in 2023

56,700+

Cumulative hours of employee training, compared to 50,058 in 2023

0.13

Total recordable incident rate (TRIR), compared to 0.26 in 2023


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Focus areas

  • Talent acquisition and retention
  • Learning and development
  • Health, safety and well-being
  • Employee engagement
  • Diversity and inclusion

Stakeholders impacted

  • Employees

Material topics associated

  • Health and safety
  • Talent and capability development
  • Labour relations and human rights

UN SDGs impacted

SOCIAL AND RELATIONSHIP CAPITAL
Fostering long-term
relationships

Building lasting, positive relationships with our stakeholders is at the heart of our commitment to social responsibility. Through a range of targeted initiatives, we work to strengthen connections, promote community well-being and drive meaningful contributions in the areas where we operate.


`187 Mn

CSR and other related donations during the reporting period

86,424

Patients treated at the hospitals under the Pragnya Priya Foundation

2,599

Students educated during the year under the Pragnya Priya Foundation


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Focus areas

  • Community development
  • Customer engagement and satisfaction
  • Supply chain sustainability
  • Engagement with government and regulatory bodies

Stakeholders impacted

  • Customers
  • Communities
  • Suppliers and vendors
  • Governments and regulatory bodies
  • Investors and shareholders

Material topics associated

  • Corporate governance and business ethics
  • Labour relations and human rights
  • Community development initiatives

UN SDGs impacted

NATURAL CAPITAL
Driving environmental stewardship in a
changing world

In the face of pressing global challenges like climate change, resource scarcity and pollution, we are firm in our commitment to responsible and sustainable business practices. Here we explore our strategic focus areas, showcasing initiatives aimed at efficient resource use and lowering environmental impact. These efforts reinforce our commitment to a sustainable future.


`52,900+

Trees planted

1.04 Mn MWh

Energy generated from waste-heat recovery systems resulting 0.42 Mn tCO2e of GHG emissions avoidance.

0.03 Mn MWh

Power generated from solar power systems


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Focus areas

  • Energy management
  • Emission control and climate action
  • Water management
  • Waste management
  • Resource management
  • Biodiversity and ecosystem conservation

Stakeholders impacted

  • Customers
  • Communities
  • Suppliers and vendors
  • Governments and regulatory bodies
  • Investors and shareholders

Material topics associated

  • Climate action
  • Environmental management, regulations and compliance
  • Circularity and innovation

UN SDGs impacted

Governance
Board of directors
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Mr. Brian Jude McNamara

Chairman of the Board

  • AC
  • NRC
  • RMC
  • SRC
  • CSR

Mr. Jagan Mohan Reddy Nellore

Managing Director

  • CSR
  • RMC
  • STC
  • SRC

Mr. N. Radhakrishna Reddy

Vice Chairman, Non-Executive Director

  • STC
  • SRC

Mr. N. Sujith Kumar Reddy

Non-Executive Director

  • STC
  • SRC
  • RMC
  • CSR

Mr. Varun Batra

Independent Director

  • AC
  • NRC

Ms. B. Shanti Sree

Independent Director

  • NRC
  • AC

Mr. Robert Thomas Tonti

Independent Director

  • AC
  • NRC
AC:
Audit Committee
NRC:
Nomination and Remuneration Committee
RMC:
Risk Management Committee
STC:
Share Transfer Committee
SRC:
Stakeholders Relationship Committee
CSR:
Corporate Social Responsibility Committee

AWARDS AND RECOGNITIONS
Recognised for
excellence,
committed to progress
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Global sustainability ratings and disclosures

EcoVadis sustainability ratings

RAIN's commitment to sustainable business practices has been recognised through EcoVadis, a globally trusted provider of business sustainability ratings.

UN Global Compact

Since August 2023, we have supported the UN Global Compact, committing to the Sustainable Development Goals (SDGs). RAIN's Carbon and Advanced Materials segments submitted their first Communication on Progress (CoP) in July 2024, demonstrating our ongoing commitment to these global principles.

CDP climate change disclosure

Our German Carbon and Advanced Materials sites have been participating in the CDP climate change questionnaire since 2019

Industry recognition and certifications

DQS Sustainability Heroes Awards

RAIN was nominated for the DQS Sustainability Heroes Award in the 'Sustainability Strategy' category, competing against 33 companies. Though we did not win, being among the top 7 nominees showcases the strength of our sustainability efforts.

Cement sector excellence

At the 3rd National Sustainability Awards on Cement & RMC held by the Quality Circle Forum of India (QCFI) at Hyderabad in January 2024, our Cement segment's Nandyal site received the Energy Excellence award.


Safety Recognition by CII

RAIN's Carbon segment plants in India received gold and silver medals in the Industrial Safety Excellence Awards competition in 2024 from the prestigious Confederation of Indian Industry (CII) in Andhra Pradesh State.

GreenCo Rating System

The GreenCo Rating, developed by CII Godrej GBC, is a benchmark for sustainability in Indian industries. It evaluates factories across nine key areas, including energy efficiency, water conservation and material resource management, emphasising continuous improvement beyond regulatory compliance.

Business responsibility &
sustainability report

Section A

General Disclosures

Covers our corporate identity, governance and operational structure, focusing on transparent and responsible business practices.

Section B

Management and Process Disclosures

Outlines our stakeholder engagement, grievance mechanisms and processes supporting our commitment to ESG principles.

Section C

ESG Disclosures

Provides in-depth coverage of our
ESG performance metrics.

Principle 1

Integrity, Ethics and Transparency

We maintain integrity, transparency and ethical governance across all operations

Principle 2

Safe and Sustainable Goods and Services

Our products are safe, environmentally responsible and contribute to sustainable development.

Principle 3

Employee Well-being

We promote safety, health and inclusive well-being for our workforce.

Principle 4

Stakeholder Engagement

We engage with stakeholders meaningfully to foster mutually beneficial relationships.

Principle 5

Human Rights

We respect and protect human rights in all business activities

Principle 6

Environmental Responsibility

We reduce our environmental footprint, enhance resource efficiency and invest in renewable energy

Principle 7

Public and Regulatory Policy

We engage responsibly with public policy and regulatory environments.

Principle 8

Inclusive Growth and Social Equity

We support inclusive growth, community development and equitable opportunity

Principle 9

Customer Value and Responsibility

We deliver value to customers by meeting their needs with integrity, quality and transparency.