Rane (Madras) Ltd

Rane (Madras) Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Rane (Madras) Ltd

₹ 904 0.27%
26 Jul - close price
ranegroup.com BSE: 532661 NSE: RML
About

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]

Key Points

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]

Website BSE NSE
  • Market Cap ₹ 1,470 Cr.
  • Current Price ₹ 904
  • High / Low ₹ 1,023 / 603
  • Stock P/E 10.3
  • Book Value ₹ 161
  • Dividend Yield 0.00 %
  • ROCE 11.7 %
  • ROE 61.6 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 27.1% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 36.3%

Cons

  • Stock is trading at 5.63 times its book value
  • 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024
299.79 412.27 391.08 451.86 499.78 536.59 526.37 560.82 530.40 572.48 521.05 518.32 521.88
283.02 381.92 362.81 409.62 452.99 493.29 472.80 503.86 480.24 520.32 470.92 491.55 477.37
Operating Profit 16.77 30.35 28.27 42.24 46.79 43.30 53.57 56.96 50.16 52.16 50.13 26.77 44.51
OPM % 5.59% 7.36% 7.23% 9.35% 9.36% 8.07% 10.18% 10.16% 9.46% 9.11% 9.62% 5.16% 8.53%
6.77 0.88 2.87 5.48 1.20 0.45 17.32 -217.05 -17.04 -121.17 0.38 -0.55 0.37
Interest 4.07 4.83 5.53 6.62 4.92 6.64 7.65 8.43 9.97 12.39 14.64 13.41 14.15
Depreciation 14.55 15.16 15.40 16.00 16.37 15.99 17.79 22.85 19.18 19.48 20.85 21.57 20.59
Profit before tax 4.92 11.24 10.21 25.10 26.70 21.12 45.45 -191.37 3.97 -100.88 15.02 -8.76 10.14
Tax % 24.39% 24.56% 24.49% 33.47% 24.87% 25.05% 26.71% 2.28% 25.19% -107.17% 25.23% -25.23% 25.54%
3.72 8.48 7.71 16.70 20.06 15.83 33.31 -195.73 2.97 7.23 11.23 -6.55 7.55
EPS in Rs 2.55 5.50 5.00 10.27 12.33 9.73 20.48 -120.34 1.83 4.45 6.90 -4.03 4.64
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
633 719 770 847 989 1,214 1,370 1,101 1,147 1,555 2,124 2,142 2,134
577 651 701 769 893 1,079 1,228 1,020 1,057 1,427 1,906 1,961 1,960
Operating Profit 56 68 69 78 96 135 142 81 90 128 218 181 174
OPM % 9% 9% 9% 9% 10% 11% 10% 7% 8% 8% 10% 8% 8%
1 -9 -2 -1 3 6 11 -19 -59 7 -214 -139 -121
Interest 11 15 16 19 28 30 29 33 24 22 29 51 55
Depreciation 17 25 33 39 45 50 53 52 52 61 73 81 82
Profit before tax 30 20 17 19 26 60 70 -23 -45 51 -98 -91 -84
Tax % 22% 15% 26% 24% 21% 31% 33% 4% 13% 29% 29% -116%
23 17 12 14 21 42 47 -24 -51 37 -127 15 19
EPS in Rs 23.04 15.96 11.84 13.41 19.66 36.02 39.45 -19.46 -34.80 22.51 -77.80 9.15 11.96
Dividend Payout % 30% 34% 38% 34% 31% 33% 22% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 12%
5 Years: 9%
3 Years: 23%
TTM: -1%
Compounded Profit Growth
10 Years: 21%
5 Years: 27%
3 Years: 226%
TTM: 51%
Stock Price CAGR
10 Years: 11%
5 Years: 29%
3 Years: 32%
1 Year: 41%
Return on Equity
10 Years: 20%
5 Years: 23%
3 Years: 36%
Last Year: 62%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 10 11 11 11 11 12 12 13 15 16 16 16
Reserves 120 130 135 142 160 250 299 280 284 359 231 245
103 176 217 287 295 271 320 358 313 453 531 706
128 142 172 174 225 279 247 216 335 366 400 385
Total Liabilities 361 458 534 613 691 811 878 866 946 1,194 1,178 1,352
159 219 242 306 320 343 342 334 316 368 393 431
CWIP 6 4 29 7 27 14 12 10 15 16 16 13
Investments 0 0 0 0 0 0 1 80 107 174 40 29
196 235 263 299 344 454 524 442 507 636 729 878
Total Assets 361 458 534 613 691 811 878 866 946 1,194 1,178 1,352

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
70 45 67 37 90 73 71 116 107 29 130 130
-31 -46 -85 -75 -60 -70 -87 -134 -95 -176 -173 -250
-31 -6 18 38 -28 -1 21 24 -23 149 50 125
Net Cash Flow 8 -7 -0 -0 1 3 5 6 -12 2 7 5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 53 55 54 52 56 64 58 54 77 74 65 58
Inventory Days 63 71 74 70 74 72 71 76 72 75 66 69
Days Payable 97 98 113 103 116 124 87 87 142 114 92 82
Cash Conversion Cycle 20 28 15 20 14 12 42 42 7 34 39 45
Working Capital Days 24 22 10 28 22 37 40 42 33 50 50 51
ROCE % 18% 16% 11% 10% 12% 18% 17% 7% 7% 10% 19% 12%

Shareholding Pattern

Numbers in percentages

2 Recently
Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
71.14% 71.14% 72.65% 72.65% 72.65% 72.65% 72.65% 72.65% 72.65% 72.65% 72.65% 72.65%
0.00% 0.00% 0.03% 0.04% 0.03% 0.00% 0.12% 0.00% 0.01% 0.00% 0.01% 0.01%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.11% 0.50% 0.63% 0.47% 0.00%
28.86% 28.86% 27.32% 27.31% 27.33% 27.35% 27.24% 27.25% 26.86% 26.73% 26.88% 27.35%
No. of Shareholders 14,85114,42518,44518,03616,68917,01015,83014,28714,59413,33113,43212,830

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

Credit ratings

Concalls

  • May 2024
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