Rane Engine Valve Ltd

About

Rane Engine Valve is engaged in manufacture of engine valves, Guides and Tappets for passenger cars, commercial vehicles, farm tractors, stationery engines, railway/marine engines and two/three wheelers and as such operates in a single reportable business segment of components for transportation industry.

  • Market Cap 129 Cr.
  • Current Price 192
  • High / Low 363 / 116
  • Stock P/E
  • Book Value 135
  • Dividend Yield 0.00 %
  • ROCE -5.61 %
  • ROE -13.7 %
  • Face Value 10.0

Pros

  • Company has reduced debt.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor growth of -1.82% over past five years.
  • Company has a low return on equity of -11.63% for last 3 years.
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Quarterly Results

Figures in Rs. Crores

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
92.71 100.40 102.50 107.66 106.42 106.04 103.05 92.61 81.99 77.35 30.28 82.07
89.18 99.05 99.72 104.44 102.34 98.44 100.79 90.12 81.07 72.86 47.04 79.51
Operating Profit 3.53 1.35 2.78 3.22 4.08 7.60 2.26 2.49 0.92 4.49 -16.76 2.56
OPM % 3.81% 1.34% 2.71% 2.99% 3.83% 7.17% 2.19% 2.69% 1.12% 5.80% -55.35% 3.12%
Other Income 0.37 0.38 0.59 0.13 1.10 0.42 1.02 1.98 0.92 -0.77 0.24 0.49
Interest 2.04 1.92 2.43 2.07 2.69 2.69 2.51 3.02 2.62 2.37 2.28 2.57
Depreciation 7.14 7.96 7.61 7.64 7.61 7.68 7.29 7.13 6.81 6.86 6.30 5.77
Profit before tax -5.28 -8.15 -6.67 -6.36 -5.12 -2.35 -6.52 -5.68 -7.59 -5.51 -25.10 -5.29
Tax % 39.20% -7.98% 34.63% 35.22% 33.01% 28.94% 34.97% 34.86% 33.86% 38.48% 35.02% 34.40%
Net Profit -3.21 -8.80 -4.36 -4.11 -3.44 -1.67 -4.24 -3.69 -5.02 -3.39 -16.31 -3.46
EPS in Rs -4.78 -13.10 -6.49 -6.12 -5.12 -2.49 -6.31 -5.49 -7.47 -5.05 -24.27 -5.15
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
220 236 288 307 263 262 389 344 355 375 423 355 272
196 208 250 266 254 231 359 340 332 361 404 344 280
Operating Profit 24 28 38 41 8 30 30 4 23 14 19 11 -9
OPM % 11% 12% 13% 13% 3% 12% 8% 1% 6% 4% 4% 3% -3%
Other Income 1 1 1 14 3 -39 49 20 93 2 2 3 1
Interest 8 7 7 8 10 15 19 15 10 8 11 11 10
Depreciation 13 16 17 19 21 20 28 28 28 29 31 28 26
Profit before tax 4 7 16 29 -19 -44 31 -18 78 -21 -20 -25 -43
Tax % 43% 39% 33% 28% 33% 33% 25% 29% 26% 19% 34% 35%
Net Profit 2 4 11 21 -13 -29 23 -13 58 -17 -14 -16 -28
EPS in Rs 4.29 8.35 20.97 40.32 -24.48 -56.47 45.58 -18.66 85.86 -25.39 -20.20 -24.32 -41.94
Dividend Payout % 47% 36% 24% 26% 0% 0% 5% 0% 3% 0% 0% 0%
Compounded Sales Growth
10 Years:4%
5 Years:-2%
3 Years:-0%
TTM:-33%
Compounded Profit Growth
10 Years:%
5 Years:-11%
3 Years:-11%
TTM:-110%
Stock Price CAGR
10 Years:-4%
5 Years:-17%
3 Years:-33%
1 Year:-10%
Return on Equity
10 Years:-7%
5 Years:-14%
3 Years:-12%
Last Year:-14%

Balance Sheet

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
5 5 5 5 5 5 5 7 7 7 7 7 7
Reserves 75 77 85 99 87 58 109 96 153 134 121 104 84
Borrowings 90 85 84 104 111 141 153 143 84 108 133 121 98
44 50 60 54 48 46 76 64 62 71 83 71 96
Total Liabilities 214 218 234 263 251 250 343 310 306 320 343 303 285
123 123 122 136 150 133 173 161 141 132 125 109 97
CWIP 7 6 10 12 7 14 6 3 3 4 6 2 2
Investments 0 0 0 0 0 1 1 1 1 0 1 1 1
83 89 102 114 94 102 163 145 162 184 210 191 185
Total Assets 214 218 234 263 251 250 343 310 306 320 343 303 285

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
32 26 37 14 37 31 17 21 -4 15 2 28
-27 -16 -24 -22 -28 -51 21 5 80 -20 -25 -7
-4 -11 -7 4 -5 17 -39 -27 -76 15 15 -23
Net Cash Flow 0 -1 6 -5 4 -3 -1 -0 1 10 -8 -1

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 7% 8% 13% 19% -5% 6% 2% -8% -1% -5% -4% -6%
Debtor Days 56 61 55 53 44 48 64 64 68 77 72 64
Inventory Turnover 3.16 2.97 3.55 3.11 2.92 2.79 3.51 2.94 3.16 3.34 2.94 2.15

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
51.10 51.09 51.09 51.09 54.84 54.84 54.84 54.84 54.84 54.84 54.84 54.84
1.34 1.32 1.35 1.31 1.31 1.31 1.39 1.31 1.32 1.31 1.31 1.31
0.39 0.39 0.39 0.39 0.39 0.39 0.39 0.39 0.39 0.39 0.39 0.39
47.18 47.20 47.17 47.21 43.46 43.46 43.38 43.46 43.44 43.46 43.46 43.46

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