Rane Brake Lining Ltd
₹ 777
1.58%
19 Apr
- close price
About
Rane Brake Lining (RBL) is part of the Rane Group of Companies, a leading auto component group based out of Chennai. RBL manufactures friction material products such as Brake linings, Disc pads, Clutch facings, Clutch buttons, Brake Shoes, and Railway brake blocks.
RBL is the market leader in India and a global player in friction material. [1]
Key Points
- Market Cap ₹ 601 Cr.
- Current Price ₹ 777
- High / Low ₹ 945 / 643
- Stock P/E 16.3
- Book Value ₹ 332
- Dividend Yield 3.22 %
- ROCE 17.7 %
- ROE 13.3 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Stock is providing a good dividend yield of 3.22%.
- Company has been maintaining a healthy dividend payout of 58.6%
- Debtor days have improved from 92.6 to 66.9 days.
Cons
- The company has delivered a poor sales growth of 4.42% over past five years.
- Company has a low return on equity of 12.8% over last 3 years.
* 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
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Quarterly Results
Figures in Rs. Crores
Upcoming result date: 3 May 2024
Profit & Loss
Figures in Rs. Crores
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 348 | 365 | 370 | 399 | 427 | 466 | 482 | 514 | 471 | 424 | 506 | 599 | 639 | |
| 309 | 332 | 330 | 353 | 372 | 393 | 407 | 446 | 410 | 363 | 461 | 542 | 572 | |
| Operating Profit | 39 | 33 | 40 | 45 | 54 | 74 | 75 | 68 | 61 | 61 | 44 | 56 | 67 |
| OPM % | 11% | 9% | 11% | 11% | 13% | 16% | 16% | 13% | 13% | 14% | 9% | 9% | 11% |
| 4 | 3 | 2 | 2 | 3 | -11 | 3 | 6 | 10 | 11 | 12 | 8 | 3 | |
| Interest | 7 | 7 | 8 | 6 | 3 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 15 | 18 | 18 | 21 | 19 | 20 | 24 | 24 | 26 | 24 | 21 | 20 | 21 |
| Profit before tax | 22 | 11 | 17 | 21 | 35 | 43 | 55 | 49 | 45 | 47 | 35 | 45 | 49 |
| Tax % | 26% | 17% | -3% | 22% | 27% | 18% | 35% | 26% | 23% | 32% | 22% | 25% | |
| 16 | 9 | 17 | 16 | 26 | 35 | 36 | 37 | 34 | 32 | 27 | 33 | 37 | |
| EPS in Rs | 20.45 | 11.50 | 21.74 | 20.35 | 32.55 | 44.13 | 45.17 | 46.15 | 43.39 | 40.98 | 35.02 | 43.29 | 47.75 |
| Dividend Payout % | 34% | 35% | 34% | 34% | 31% | 34% | 34% | 34% | 39% | 61% | 57% | 58% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 4% |
| 3 Years: | 8% |
| TTM: | 9% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | -2% |
| 3 Years: | -1% |
| TTM: | 5% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 1% |
| 3 Years: | -2% |
| 1 Year: | 9% |
| Return on Equity | |
|---|---|
| 10 Years: | 17% |
| 5 Years: | 14% |
| 3 Years: | 13% |
| Last Year: | 13% |
Balance Sheet
Figures in Rs. Crores
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 |
| Reserves | 89 | 94 | 104 | 114 | 130 | 159 | 180 | 202 | 221 | 230 | 235 | 253 | 249 |
| 76 | 90 | 81 | 52 | 27 | 6 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | |
| 79 | 70 | 75 | 82 | 91 | 105 | 123 | 146 | 131 | 146 | 156 | 113 | 116 | |
| Total Liabilities | 252 | 262 | 268 | 255 | 256 | 278 | 311 | 356 | 359 | 384 | 399 | 374 | 373 |
| 121 | 123 | 133 | 117 | 104 | 121 | 114 | 118 | 133 | 118 | 114 | 118 | 116 | |
| CWIP | 3 | 19 | 0 | 1 | 2 | 0 | 4 | 2 | 0 | 2 | 3 | 4 | 14 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 24 | 2 |
| 128 | 120 | 134 | 137 | 149 | 156 | 193 | 235 | 226 | 264 | 280 | 227 | 241 | |
| Total Assets | 252 | 262 | 268 | 255 | 256 | 278 | 311 | 356 | 359 | 384 | 399 | 374 | 373 |
Cash Flows
Figures in Rs. Crores
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 | 33 | 29 | 45 | 52 | 62 | 48 | 44 | 73 | 46 | 11 | 49 | |
| -30 | -35 | -10 | -5 | -8 | -34 | -19 | -25 | -35 | -10 | -18 | -48 | |
| -0 | 1 | -17 | -43 | -44 | -28 | -21 | -15 | -15 | -24 | -22 | -16 | |
| Net Cash Flow | 0 | -0 | 2 | -2 | 0 | -1 | 8 | 4 | 24 | 12 | -28 | -14 |
Ratios
Figures in Rs. Crores
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 73 | 75 | 85 | 81 | 85 | 78 | 91 | 100 | 76 | 112 | 99 | 67 |
| Inventory Days | 57 | 54 | 55 | 49 | 54 | 58 | 56 | 73 | 102 | 118 | 137 | 100 |
| Days Payable | 96 | 91 | 94 | 91 | 124 | 138 | 142 | 161 | 151 | 205 | 169 | 71 |
| Cash Conversion Cycle | 34 | 38 | 45 | 39 | 16 | -1 | 6 | 12 | 27 | 24 | 66 | 97 |
| Working Capital Days | 31 | 36 | 39 | 35 | 42 | 32 | 38 | 43 | 35 | 51 | 67 | 61 |
| ROCE % | 18% | 10% | 13% | 15% | 23% | 35% | 31% | 25% | 20% | 20% | 15% | 18% |
Documents
Announcements
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 2d
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Compliances - Compliance Certificate For The Period Ended March 31, 2024.
9 Apr - Company''S Listing Agreement SEBI (LODR) regulations, 2015, we hereby certify that:- All activities in relation to share transfer facility are maintained by Integrated Registry Management …
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
9 Apr - Copy of the certificate dated April 02, 2024 received from M/s. Integrated Registry Management Services Private Limited, RTA of the Company for the quarter ended …
- Board Meeting Intimation for Consider And Approve The Audited Financial Results For The Quarter And Year Ending March 31, 2024 29 Mar
- Closure of Trading Window 29 Mar
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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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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Feb 2024TranscriptNotesPPT
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Feb 2024TranscriptNotesPPT
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Nov 2023TranscriptNotesPPT
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Aug 2023TranscriptNotesPPT
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May 2023TranscriptNotesPPT
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Oct 2022TranscriptNotesPPT
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May 2022TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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Nov 2018TranscriptNotesPPT
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May 2018TranscriptNotesPPT
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Dec 2017TranscriptNotesPPT
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Aug 2017TranscriptNotesPPT
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Jun 2017TranscriptNotesPPT
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Feb 2017TranscriptNotesPPT
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Jun 2016TranscriptNotesPPT
Products sold in FY22 [1]
Brake linings: 42%
Disk Pads: 53%
Clutch Facings,Railway Brake Blocks & Others: 5%