Which companies are Rain Industries's closest peers?

The cockpit's peer set: Mativ (MATV), Konishi (4956.T), Shanghai Yaohua Pilkington Glass (600819.SS), Central Glass (4044.T), Hubei Sanxia New Building Materials (600293.SS), Fineotex Chemical (FCL.NS), Keshun Waterproof Technologies (300737.SZ), New East New Materials (603110.SS).

Is Rain Industries expensive compared with its peers?

On forward p/e it trades at 12.4× against a peer median of 25.3×, 4th cheapest of 15 in its peer set.

How has Rain Industries stock performed?

Over six months to 6 Nov 2026 the shares returned +34.8% against -7.8% for the median peer; over one year +33.8%.

← CockpitCompetitor Analysis › RAIN.NS Rain Industries LimitedOpen in the cockpit ↗

Rain Industries LimitedRAIN.NSCompetitor analysis, valuation and peers

India · INR·Chemicals›Industrial Specialties

Momentum neutral 47

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$645M

US dollars, full cap

Free float

52%

of shares outstanding

$/day

$9.80M

20-day average traded

Fwd P/E

12.4×

forward earnings

ROIC−WACC

-3.1 pp

WACC 10.6%

Hurdle

n/a

no reverse DCF

Close · INR₹181.40

1D-3.7%

1W-6.6%

1M-17.1%

3M-25.4%

6M+34.8%

YTD+25.2%

1Y+33.8%

ATR %5.9%

Beta1.22

52w lowhigh28.0% off high

What Rain Industries does

Employees: 4,589

Rain Industries at a glance

Size Rain Industries (RAIN.NS) is an India Materials company (Industrial Specialties) with a market value of $645M, the 750th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹181.40 on 6 Nov 2026.

Performance Over six months the shares gained 34.8%, against -7.8% for the median peer and 0.0% for the India market (cap-weighted) — 2nd highest of 21 in its peer set.

Growth Revenue grew 17.0% over the last twelve months (peer median +3.0%); the operating margin is 9.5% (peer median 5.8%).

Valuation It trades at 12.4× forward earnings against a peer median of 25.3× (4th cheapest of 15).

Capital Return on invested capital runs 3.1 points below its cost of capital (10.6% WACC).

Relative performance

Six months, rebased to 100: Rain Industries against the median of its 20 peers (local-currency closes).

Rain Industries financials

Reported figures in INR; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	₹185B	₹169B	₹153B	₹181B	₹210B
Revenue growth	—	+10%	-15%	-14%	—
Gross profit	₹58.1B	₹34.9B	₹27.2B	₹31.0B	₹51.7B
EBITDA	₹27.4B	₹21.9B	₹12.2B	₹17.0B	₹37.2B
Net income	₹5.37B	₹425M	-₹5.64B	-₹9.38B	₹14.4B
Free cash flow	n/a	-₹3.31B	₹5.14B	₹18.0B	-₹956M
Capital expenditure	n/a	₹4.61B	₹6.53B	₹5.96B	₹6.69B
Total debt	₹108B	₹98.2B	₹84.9B	₹86.9B	₹97.3B

Quarterly statements and history in the cockpit →

Rain Industries competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Rain Industries is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Rain Industries is the large dot.

Rain Industries competitors and peer comparison

How Rain Industries compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Rain Industries against its 20 peers (data as of 6 Nov 2026)
Measure	RAIN.NS	Peer median	Rank in peer set
1-month return	-17.1%	-6.8%	4th lowest of 21
6-month return	+34.8%	-7.8%	2nd highest of 21
Distance from 52-week high	-28.0%	-29.1%	11th highest of 21
Revenue growth (TTM)	+17.0%	+3.0%	4th highest of 21
Operating margin	9.5%	5.8%	5th highest of 21
Forward P/E	12.4×	25.3×	4th cheapest of 15
ROIC minus cost of capital	-3.1 pp	-3.6 pp	11th highest of 21
EV / EBITDA	5.7×	13.0×	4th cheapest of 15
Net debt / EBITDA	3.3×	1.0×	3rd most indebted of 15

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Rain Industries RAIN.NS	India	$645M	+35%	+17%	10%	12.4×	n/a	n/a
Mativ MATV	United States	$646M	+27%	+1%	4%	11.0×	6.2%	+13.0%
Konishi 4956.T	Japan	$643M	+9%	+7%	9%	12.3×	-10.1%	+4.9%
Shanghai Yaohua Pilkington Glass 600819.SS	China	$643M	-24%	0%	2%	30.7×	n/a	n/a
Central Glass 4044.T	Japan	$648M	0%	+4%	8%	10.6×	-6.5%	-5.4%
Hubei Sanxia New Building Materials 600293.SS	China	$640M	+15%	-34%	-21%	n/a	n/a	n/a
Fineotex Chemical FCL.NS	India	$635M	+86%	+91%	15%	34.4×	n/a	n/a
Keshun Waterproof Technologies 300737.SZ	China	$656M	-41%	-12%	-8%	34.2×	-15.7%	-0.6%
New East New Materials 603110.SS	China	$633M	-5%	-5%	2%	n/a	n/a	n/a
KeePer Technical Laboratory 6036.T	Japan	$631M	+24%	+12%	27%	15.6×	-2.6%	+17.1%
Borosil Renewables BORORENEW.NS	India	$628M	-29%	+11%	26%	n/a	12.7%	+25.4%
Tianjin Jiuri New Materials 688199.SS	China	$628M	-3%	+15%	3%	64.5×	n/a	n/a
Guangdong Silver Age Sci & Tech 300221.SZ	China	$667M	-16%	+7%	7%	26.3×	27.7%	+6.0%
SGL Carbon SGL.DE	Germany	$668M	+2%	-16%	8%	18.9×	2.3%	-1.6%
Wuxi Holyview Microelectronics 603375.SS	China	$618M	-10%	-17%	-9%	n/a	53.9%	+17.3%
Pizu 9893.HK	Hong Kong	$677M	-8%	-8%	22%	n/a	n/a	n/a
Sheela Foam SFL.NS	India	$614M	-7%	+20%	6%	24.3×	23.3%	+9.4%
ZACROS 7917.T	Japan	$596M	-11%	+6%	7%	12.5×	n/a	n/a
Shanghai Smith Adhesive New Material 603683.SS	China	$706M	-43%	+19%	4%	n/a	33.2%	+16.0%
Shenzhen Cotran Industrial Material 300731.SZ	China	$707M	-47%	-1%	-1%	127.7×	n/a	n/a
Shandong Ruifeng Chemical 300243.SZ	China	$715M	-19%	+2%	5%	31.6×	35.4%	+8.6%

Questions

Which companies are Rain Industries's closest peers?: The cockpit's peer set: Mativ (MATV), Konishi (4956.T), Shanghai Yaohua Pilkington Glass (600819.SS), Central Glass (4044.T), Hubei Sanxia New Building Materials (600293.SS), Fineotex Chemical (FCL.NS), Keshun Waterproof Technologies (300737.SZ), New East New Materials (603110.SS).
Is Rain Industries expensive compared with its peers?: On forward p/e it trades at 12.4× against a peer median of 25.3×, 4th cheapest of 15 in its peer set.
How has Rain Industries stock performed?: Over six months to 6 Nov 2026 the shares returned +34.8% against -7.8% for the median peer; over one year +33.8%.