Rain Industries Shares Rise 5% in 13 Days Since Partnering with BioBTX for Renewable Aromatics

Key numbers

Planned Capacity	10,000 TPARenewable Aromatic Oil
Market Cap	₹7,462.17 CrPetrochemicals
Net Profit Growth	387.98%YoY Quarterly
TTM P/E Ratio	13.89xSector: 38.25x

Key highlights

• Rain Carbon to process circular aromatic oil from BioBTX into benzene, phthalic anhydride, and other derivatives
• BioBTX is constructing a 10,000 tonnes per year commercial-scale plant in Delfzijl, Netherlands
• Facility will utilize proprietary Integrated Catalytic Cracking Process (ICCP) technology to convert plastic waste
• Commercial production of circular aromatics at the new facility is expected to commence in early 2028
• The collaboration targets decarbonizing supply chains for pharmaceutical, coating, and automotive industries

Strategic Partnership and Commercial Scope

The collaboration between Rain Carbon and BioBTX BV focuses on integrating circular chemistry into the global chemical supply chain. Under the agreement, Rain Carbon will utilize its aromatic processing expertise to convert BioBTX’s renewable aromatic oil into high-purity benzene, phthalic anhydride, and other derivatives. These products are designed as drop-in solutions, matching the quality and performance of traditional fossil-based alternatives.

This enables industrial customers to lower their carbon footprints without re-engineering existing manufacturing processes. The feedstock will be sourced from BioBTX’s upcoming Delfzijl facility, which reached a positive Final Investment Decision in July 2026.

Partner Profile: BioBTX BV

• Headquartered in Groningen, Netherlands, BioBTX is a technology developer specializing in circular chemistry
• Proprietary ICCP technology enables the conversion of non-recyclable plastic waste and biomass into aromatics
• Successfully demonstrated technology at a pilot plant in Groningen before scaling to commercial operations
• The upcoming Delfzijl plant represents the world's first dedicated greenfield facility for this specific conversion process
• The company aims to license its technology globally to accelerate the transition toward a defossilised chemical industry

Rain Industries’ Business and Global Footprint

Rain Industries operates as a vertically integrated supplier through two primary segments: Carbon and Advanced Materials. The Carbon segment processes industrial by-products from oil refining and steel production into essential materials like calcined petroleum coke and coal tar pitch. The Advanced Materials segment extends this value chain by refining outputs into specialized, eco-friendly chemical products for the aluminum, graphite, and energy storage industries.

This new partnership with BioBTX expands Rain's raw material sourcing into renewable and recycled streams, aligning its portfolio with global sustainability trends and the shift toward circular manufacturing.

Management Perspective on Sustainability

This partnership with BioBTX aligns perfectly with Rain Carbon’s mission to create value from alternative carbon sources. By combining BioBTX’s innovative technology with Rain Carbon’s aromatic processing expertise, we can provide the market with renewable, drop-in solutions that contribute to a more circular and sustainable future.

Financial Performance and Market Position

Rain Industries exhibits a robust financial profile with a Durability score of 85, categorized as a Strong Performer. For the trailing twelve months, the company reported operating revenue of ₹18,464.31 crore and a net profit of ₹537.16 crore. The most recent quarterly results showed significant momentum, with net profit growth of 387.98% YoY.

Currently trading at a TTM P/E of 13.89, the stock is positioned below the petrochemical industry average of 26.21. With a high Piotroski Score of 9, the company maintains strong financial health as it integrates renewable technologies into its core processing operations.

“We have seen significant interest in our renewable aromatic oil from companies serving markets such as pharmaceuticals, coatings, toys, and automotive applications. Demand for products with higher recycled content and lower carbon footprints continues to grow, creating a clear need for circular raw materials. Together with Rain Carbon, we can help customers build more sustainable supply chains and accelerate the transition to a circular economy.”

Rain Industries · financial snapshot

Share price	₹221.86
Market capitalisation	₹7,462.17 Cr
Revenue (annual)	₹16,945.82 Cr
Net profit (annual)	₹42.52 Cr
Revenue (latest quarter)	₹5,167.16 Cr+14.30% vs previous quarter
Net profit (latest quarter)	₹296.21 Cr+143.92% vs previous quarter
P/E (TTM)	13.89×Sector 38.25×
Promoter holding	41.35%0.00% QoQ
FII holding	8.02%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.