Rane (Madras) Ltd
Rane (Madras) Ltd. was founded in 1929, it manufactures steering and suspension linkage products, steering gear products and specialized aluminum high pressure die-casting products and provides connected mobility solutions. The Company is a supplier to major manufacturers of Passenger Vehicles, Utility Vehicles and Farm Tractors and has a strong presence in mechanical steering gears and hydrostatic gear systems. The co. headquarters is in Chennai.[1][2]
- Market Cap ₹ 1,285 Cr.
- Current Price ₹ 790
- High / Low ₹ 1,023 / 590
- Stock P/E 11.8
- Book Value ₹ 157
- Dividend Yield 0.00 %
- ROCE 6.30 %
- ROE 43.7 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 5.02 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Auto Ancillaries Industry: Auto Ancillaries
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| 876 | 1,195 | 1,400 | 1,555 | 1,277 | 1,267 | 1,742 | 2,354 | 2,239 | |
| 797 | 1,106 | 1,273 | 1,438 | 1,230 | 1,236 | 1,667 | 2,171 | 2,093 | |
| Operating Profit | 79 | 89 | 127 | 117 | 47 | 31 | 75 | 184 | 146 |
| OPM % | 9% | 7% | 9% | 8% | 4% | 2% | 4% | 8% | 7% |
| -2 | 11 | 9 | 10 | 12 | 7 | 52 | 6 | -101 | |
| Interest | 19 | 30 | 34 | 35 | 38 | 28 | 21 | 35 | 56 |
| Depreciation | 41 | 57 | 61 | 66 | 66 | 66 | 81 | 97 | 91 |
| Profit before tax | 17 | 13 | 40 | 26 | -45 | -55 | 26 | 58 | -103 |
| Tax % | 27% | 66% | 40% | 91% | -2% | -10% | 58% | 49% | 103% |
| 13 | 4 | 24 | 2 | -46 | -61 | 11 | 30 | 3 | |
| EPS in Rs | 12.05 | 4.11 | 20.87 | 2.02 | -36.26 | -41.98 | 6.55 | 18.46 | 1.86 |
| Dividend Payout % | 37% | 146% | 58% | 420% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 8% |
| 3 Years: | 21% |
| TTM: | -5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 114% |
| 3 Years: | 56% |
| TTM: | 214% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 17% |
| 3 Years: | 29% |
| 1 Year: | 30% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 2% |
| 3 Years: | 18% |
| Last Year: | 44% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 12 | 12 | 13 | 15 | 16 | 16 | 16 |
| Reserves | 140 | 147 | 213 | 218 | 163 | 157 | 212 | 225 | 240 |
| Preference Capital | 8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 330 | 362 | 357 | 417 | 470 | 470 | 585 | 668 | 728 | |
| 220 | 267 | 320 | 290 | 276 | 390 | 417 | 439 | 385 | |
| Total Liabilities | 701 | 787 | 902 | 937 | 922 | 1,032 | 1,230 | 1,349 | 1,369 |
| 361 | 365 | 386 | 386 | 382 | 415 | 477 | 490 | 453 | |
| CWIP | 7 | 28 | 16 | 16 | 50 | 31 | 18 | 29 | 27 |
| Investments | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 2 |
| 333 | 394 | 499 | 535 | 489 | 586 | 733 | 829 | 887 | |
| Total Assets | 701 | 787 | 902 | 937 | 922 | 1,032 | 1,230 | 1,349 | 1,369 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| 31 | 88 | 65 | 45 | 69 | 46 | -6 | 88 | 120 | |
| -74 | -77 | -78 | -60 | -103 | -80 | -124 | -106 | -119 | |
| 43 | -7 | 14 | 26 | 34 | 21 | 134 | 35 | -14 | |
| Net Cash Flow | -0 | 4 | 1 | 11 | 0 | -13 | 5 | 17 | -13 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 67 | 57 | 64 | 58 | 55 | 78 | 74 | 65 | 55 |
| Inventory Days | 75 | 76 | 73 | 71 | 80 | 81 | 76 | 67 | 62 |
| Days Payable | 117 | 118 | 123 | 89 | 97 | 150 | 115 | 91 | 74 |
| Cash Conversion Cycle | 25 | 15 | 14 | 39 | 38 | 9 | 35 | 41 | 44 |
| Working Capital Days | 24 | 22 | 33 | 36 | 20 | 36 | 52 | 50 | 49 |
| ROCE % | 9% | 13% | 10% | -1% | -4% | -0% | 12% |
Documents
Announcements
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Compliances-Reg.24(A)-Annual Secretarial Compliance
30 May - Annual Secretarial Compliance Report for the year ended March 31, 2024.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
24 May - Transcript of the earnings conference call is available in the investor information section of the website of the company at the web-link https://ranegroup.com/investors/rane-madras-limited-2/
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
17 May - Recordings of the Earnings Conference call are being made available in the investor information section of the website of the Company at the web-link https://ranegroup.com/investors/rane-madras-limited-2/
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Announcement under Regulation 30 (LODR)-Investor Presentation
16 May - Copy of the Earnings Presentation proposed to be made to the analyst and investors at the earnings conference call scheduled on May 17, 2024 at …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
14 May - An ''Earnings Conference Call'' is scheduled on, Friday, May 17, 2024 at 15:00 hours (IST), inter alia, to discuss the audited financial results for the …
Annual reports
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Financial Year 2023
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Concalls
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May 2024TranscriptNotesPPT
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Dec 2017TranscriptNotesPPT
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Jun 2017TranscriptNotesPPT
Business segments
Steering & Linkages Division (86% of the revenue): Manufactures mechanical steering gears, hydrostatic steering systems and steering and suspension linkage products.
Light Metal Castings Division (8% of the revenue): Manufactures low porosity, high-quality aluminium die castings such as steering housings and engine case covers.
Auto parts Division: 4% of the revenue [1]