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 ₹ 1,392 Cr.
- Current Price ₹ 856
- High / Low ₹ 990 / 428
- Stock P/E 7.60
- Book Value ₹ 158
- Dividend Yield 0.00 %
- ROCE 19.5 %
- ROE 43.1 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 5.49 times its book value
- Tax rate seems low
- Company might be capitalizing the interest cost
* 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
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 663 | 633 | 719 | 770 | 847 | 989 | 1,214 | 1,370 | 1,101 | 1,147 | 1,555 | 2,124 | 2,185 | |
| 603 | 577 | 651 | 701 | 769 | 893 | 1,079 | 1,228 | 1,020 | 1,057 | 1,427 | 1,906 | 1,975 | |
| Operating Profit | 60 | 56 | 68 | 69 | 78 | 96 | 135 | 142 | 81 | 90 | 128 | 218 | 209 |
| OPM % | 9% | 9% | 9% | 9% | 9% | 10% | 11% | 10% | 7% | 8% | 8% | 10% | 10% |
| 2 | 1 | -9 | -2 | -1 | 3 | 6 | 11 | -19 | -59 | 7 | -214 | -355 | |
| Interest | 12 | 11 | 15 | 16 | 19 | 28 | 30 | 29 | 33 | 24 | 22 | 29 | 45 |
| Depreciation | 14 | 17 | 25 | 33 | 39 | 45 | 50 | 53 | 52 | 52 | 61 | 73 | 82 |
| Profit before tax | 37 | 30 | 20 | 17 | 19 | 26 | 60 | 70 | -23 | -45 | 51 | -98 | -273 |
| Tax % | 26% | 22% | 15% | 26% | 24% | 21% | 31% | 33% | -4% | -13% | 29% | -29% | |
| 27 | 23 | 17 | 12 | 14 | 21 | 42 | 47 | -24 | -51 | 37 | -127 | -174 | |
| EPS in Rs | 26.96 | 23.04 | 15.96 | 11.84 | 13.41 | 19.66 | 36.02 | 39.45 | -19.46 | -34.80 | 22.51 | -77.80 | -107.16 |
| Dividend Payout % | 35% | 30% | 34% | 38% | 34% | 31% | 33% | 22% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 12% |
| 3 Years: | 25% |
| TTM: | 8% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 19% |
| 5 Years: | 26% |
| 3 Years: | 100% |
| TTM: | 110% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 16% |
| 3 Years: | 34% |
| 1 Year: | 88% |
| Return on Equity | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 16% |
| 3 Years: | 19% |
| Last Year: | 43% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 10 | 10 | 11 | 11 | 11 | 11 | 12 | 12 | 13 | 15 | 16 | 16 | 16 |
| Reserves | 105 | 120 | 130 | 135 | 142 | 160 | 250 | 299 | 280 | 284 | 359 | 231 | 240 |
| Preference Capital | 0 | 0 | 8 | 8 | 8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 115 | 103 | 167 | 208 | 279 | 295 | 271 | 320 | 358 | 313 | 453 | 531 | 663 | |
| 111 | 128 | 150 | 180 | 182 | 225 | 279 | 247 | 216 | 335 | 366 | 400 | 420 | |
| Total Liabilities | 341 | 361 | 458 | 534 | 613 | 691 | 811 | 878 | 866 | 946 | 1,194 | 1,178 | 1,340 |
| 140 | 159 | 219 | 242 | 306 | 320 | 343 | 342 | 334 | 316 | 368 | 393 | 404 | |
| CWIP | 12 | 6 | 4 | 29 | 7 | 27 | 14 | 12 | 10 | 15 | 16 | 16 | 17 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 80 | 107 | 174 | 40 | 41 |
| 189 | 196 | 235 | 263 | 299 | 344 | 454 | 524 | 442 | 507 | 636 | 729 | 877 | |
| Total Assets | 341 | 361 | 458 | 534 | 613 | 691 | 811 | 878 | 866 | 946 | 1,194 | 1,178 | 1,340 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 28 | 70 | 45 | 67 | 37 | 90 | 73 | 71 | 116 | 107 | 29 | 130 | |
| -43 | -31 | -46 | -85 | -75 | -60 | -70 | -87 | -134 | -95 | -176 | -173 | |
| 11 | -31 | -6 | 18 | 38 | -28 | -1 | 21 | 24 | -23 | 149 | 50 | |
| Net Cash Flow | -4 | 8 | -7 | -0 | -0 | 1 | 3 | 5 | 6 | -12 | 2 | 7 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 61 | 53 | 55 | 54 | 52 | 56 | 64 | 58 | 54 | 77 | 74 | 65 |
| Inventory Days | 48 | 63 | 71 | 74 | 70 | 74 | 72 | 71 | 76 | 72 | 75 | 66 |
| Days Payable | 75 | 97 | 98 | 113 | 103 | 116 | 124 | 87 | 87 | 142 | 114 | 92 |
| Cash Conversion Cycle | 34 | 20 | 28 | 15 | 20 | 14 | 12 | 42 | 42 | 7 | 34 | 39 |
| Working Capital Days | 30 | 24 | 22 | 10 | 28 | 22 | 37 | 40 | 42 | 33 | 50 | 50 |
| ROCE % | 24% | 18% | 16% | 11% | 10% | 12% | 18% | 17% | 7% | 7% | 10% | 19% |
Documents
Announcements
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 17 Apr
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Compliances - Compliance Certificate For The Period Ended March 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 …
- Closure of Trading Window 29 Mar
- Board Meeting Intimation for Consider And Approve The Audited Financial Results (Standalone & Consolidated) For The Quarter And Year Ending March 31, 2024 29 Mar
Annual reports
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Financial Year 2023
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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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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]