Rane (Madras) Ltd
₹ 842
-0.91%
05 Sep
3:56 p.m.
About
Established in 1960, Rane (Madras) Limited (RML) is part of the Rane Group of Companies, a leading auto component group based out of
Chennai. RML has two divisions namely Steering and Linkages Division (SLD) and Light Metal Casting India Division (LMCI). Through its overseas subsidiary Rane Light Metal
Castings Inc. (RLMCA), RML manufactures high pressure light metal casting components from its facility in Kentucky, USA.[1]
Key Points
- Market Cap ₹ 2,325 Cr.
- Current Price ₹ 842
- High / Low ₹ 1,418 / 575
- Stock P/E 67.6
- Book Value ₹ 423
- Dividend Yield 0.95 %
- ROCE 14.3 %
- ROE 12.0 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 33.4%
Cons
- Promoter holding has decreased over last quarter: -2.20%
* 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.
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Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 719 | 770 | 847 | 989 | 1,214 | 1,370 | 1,101 | 1,147 | 1,555 | 2,124 | 2,142 | 3,406 | 3,149 | |
| 651 | 701 | 769 | 893 | 1,079 | 1,228 | 1,020 | 1,057 | 1,427 | 1,906 | 1,961 | 3,113 | 2,888 | |
| Operating Profit | 68 | 69 | 78 | 96 | 135 | 142 | 81 | 90 | 128 | 218 | 181 | 293 | 261 |
| OPM % | 9% | 9% | 9% | 10% | 11% | 10% | 7% | 8% | 8% | 10% | 8% | 9% | 8% |
| -9 | -2 | -1 | 3 | 6 | 11 | -19 | -59 | 7 | -214 | -139 | -1 | -4 | |
| Interest | 15 | 16 | 19 | 28 | 30 | 29 | 33 | 24 | 22 | 29 | 51 | 72 | 69 |
| Depreciation | 25 | 33 | 39 | 45 | 50 | 53 | 52 | 52 | 61 | 73 | 81 | 130 | 123 |
| Profit before tax | 20 | 17 | 19 | 26 | 60 | 70 | -23 | -45 | 51 | -98 | -91 | 90 | 65 |
| Tax % | 15% | 26% | 24% | 21% | 31% | 33% | 4% | 13% | 29% | 29% | -116% | 45% | |
| 17 | 12 | 14 | 21 | 42 | 47 | -24 | -51 | 37 | -127 | 15 | 50 | 33 | |
| EPS in Rs | 15.96 | 11.84 | 13.41 | 19.66 | 36.02 | 39.45 | -19.46 | -34.80 | 22.51 | -77.80 | 9.15 | 30.50 | 15.41 |
| Dividend Payout % | 34% | 38% | 34% | 31% | 33% | 22% | 0% | 0% | 0% | 0% | 0% | 26% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 25% |
| 3 Years: | 30% |
| TTM: | 14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 28% |
| 3 Years: | 16% |
| TTM: | -81% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 31% |
| 3 Years: | 29% |
| 1 Year: | -37% |
| Return on Equity | |
|---|---|
| 10 Years: | 19% |
| 5 Years: | 23% |
| 3 Years: | 33% |
| Last Year: | 12% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 | 12 | 12 | 13 | 15 | 16 | 16 | 16 | 16 |
| Reserves | 130 | 135 | 142 | 160 | 255 | 299 | 288 | 294 | 359 | 231 | 245 | 672 |
| 176 | 217 | 287 | 295 | 271 | 320 | 358 | 313 | 453 | 531 | 706 | 791 | |
| 142 | 172 | 174 | 225 | 274 | 247 | 207 | 325 | 366 | 400 | 385 | 784 | |
| Total Liabilities | 458 | 534 | 613 | 691 | 811 | 878 | 866 | 946 | 1,194 | 1,178 | 1,352 | 2,264 |
| 219 | 242 | 306 | 320 | 343 | 342 | 334 | 316 | 368 | 393 | 431 | 673 | |
| CWIP | 4 | 29 | 7 | 27 | 14 | 12 | 10 | 15 | 16 | 16 | 13 | 59 |
| Investments | 0 | 0 | 0 | 0 | 0 | 1 | 80 | 107 | 174 | 40 | 29 | 46 |
| 235 | 263 | 299 | 344 | 454 | 524 | 442 | 507 | 636 | 729 | 878 | 1,486 | |
| Total Assets | 458 | 534 | 613 | 691 | 811 | 878 | 866 | 946 | 1,194 | 1,178 | 1,352 | 2,264 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 45 | 67 | 37 | 90 | 73 | 71 | 116 | 107 | 29 | 130 | 201 | 339 | |
| -46 | -85 | -75 | -60 | -70 | -87 | -134 | -95 | -176 | -173 | -288 | -174 | |
| -6 | 18 | 38 | -28 | -1 | 21 | 24 | -23 | 149 | 50 | 84 | -173 | |
| Net Cash Flow | -7 | -0 | -0 | 1 | 3 | 5 | 6 | -12 | 2 | 7 | -3 | -7 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 55 | 54 | 52 | 56 | 64 | 58 | 54 | 77 | 74 | 65 | 58 | 76 |
| Inventory Days | 71 | 74 | 70 | 74 | 72 | 71 | 76 | 72 | 75 | 66 | 69 | 81 |
| Days Payable | 98 | 113 | 103 | 116 | 124 | 87 | 87 | 142 | 114 | 92 | 82 | 92 |
| Cash Conversion Cycle | 28 | 15 | 20 | 14 | 12 | 42 | 42 | 7 | 34 | 39 | 45 | 64 |
| Working Capital Days | -25 | -41 | -20 | -30 | -5 | -5 | 42 | 33 | -19 | -12 | -24 | -5 |
| ROCE % | 16% | 11% | 10% | 12% | 18% | 17% | 7% | 6% | 10% | 19% | 12% | 14% |
Documents
Announcements
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Re-Lodgement Of Transfer Requests Of Physical Shares - Monthly Update
23 Aug - Monthly re-lodgement report for July 2025 shows no physical transfer requests; Not Applicable processing time.
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Newspaper Advertisement - Window For Re-Lodgement Of Transfer Requests For Physical Shares
23 Aug - Special window until Jan 06, 2026 for re-lodgement of physical transfers lodged before Apr 01, 2019.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
20 Aug - Transcript of the earnings Conference call is available in the investor information section of the Company at the weblink https://ranegroup.com/investors/rane-madras-limited-2/.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
13 Aug - Audio recording of August 13, 2025 earnings call available on company website.
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Announcement under Regulation 30 (LODR)-Investor Presentation
12 Aug - Copy of the earnings presentation. This is also being made available on the investor section of the website of the Company at the web-link: https://ranegroup.com/investors/rane-madras-limited-2/.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2012
from nse
Concalls
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Aug 2025Transcript PPT
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Jun 2025TranscriptNotesPPT
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Feb 2025TranscriptNotesPPT
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Nov 2024TranscriptNotesPPT
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Aug 2024TranscriptNotesPPT
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May 2024TranscriptNotesPPT
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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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Aug 2021TranscriptNotesPPT
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Jun 2021TranscriptNotesPPT
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Feb 2021TranscriptNotesPPT
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Nov 2020TranscriptNotesPPT
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Aug 2020TranscriptNotesPPT
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Feb 2020TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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Aug 2019TranscriptNotesPPT
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May 2019TranscriptNotesPPT
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Feb 2019TranscriptNotesPPT
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Nov 2018TranscriptNotesPPT
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Aug 2018TranscriptNotesPPT
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May 2018TranscriptNotesPPT
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May 2018TranscriptNotesPPT
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Feb 2018TranscriptNotesPPT
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Feb 2018TranscriptNotesPPT
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Dec 2017TranscriptNotesPPT
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Aug 2017TranscriptNotesPPT
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Jun 2017TranscriptNotesPPT
Part of Rane Group[1]
Rane (Madras) is part of the Rane Group, a preferred OE manufacturer and supplier to global auto majors across PVs, CVs, farm tractors, 2- & 3-wheelers, railways, and stationary engines. The group’s offerings include steering and suspension systems, friction materials, valve train components, occupant safety systems, and light metal castings. Rane Holdings Ltd. holds a 63.8% stake in the company.