RAIN INDUSTRIES : DEFERS TELANGANA CEMENT EXPANSION ON HIGH ENERGY AND FREIGHT COSTS

• Proposed cement expansion project in Telangana deferred until pricing improves enough to recover higher energy and freight costs • Q3 cement volumes rose 11% YoY to 670 thousand tons on Priya Cement re-launch; segment adjusted EBITDA was a loss of ₹11 Cr • Q3 revenue from operations ₹5,486 Cr, up 23% YoY; adjusted EBITDA ₹857 Cr, up 32% YoY • Adjusted PAT ₹204 Cr, up 77% YoY, or ₹6.05 per share • Net debt US$851 mn with net debt-to-EBITDA at 2.53x; total liquidity US$345 mn and no major term debt maturities until October 2028 • Management expects geopolitical, energy and logistics pressures to persist through Q4

Rain Industries Limited

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