Rane (Madras) Ltd
₹ 892
1.59%
12 May
- close price
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 ₹ 2,469 Cr.
- Current Price ₹ 892
- High / Low ₹ 1,055 / 608
- Stock P/E 22.4
- Book Value ₹ 272
- Dividend Yield 0.90 %
- ROCE 14.0 %
- ROE 15.5 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 30.6% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 25.2%
Cons
- Stock is trading at 3.29 times its book value
- 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.
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Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 876 | 1,195 | 1,400 | 1,555 | 1,277 | 1,267 | 1,742 | 2,354 | 3,463 | 3,406 | 3,863 | |
| 797 | 1,106 | 1,273 | 1,438 | 1,230 | 1,236 | 1,667 | 2,171 | 3,193 | 3,122 | 3,523 | |
| Operating Profit | 79 | 89 | 127 | 117 | 47 | 31 | 75 | 184 | 270 | 284 | 340 |
| OPM % | 9% | 7% | 9% | 8% | 4% | 2% | 4% | 8% | 8% | 8% | 9% |
| -2 | 11 | 9 | 10 | 12 | 7 | 52 | 6 | -102 | 2 | 12 | |
| Interest | 19 | 30 | 34 | 35 | 38 | 28 | 21 | 35 | 68 | 76 | 59 |
| Depreciation | 41 | 57 | 61 | 66 | 66 | 66 | 81 | 97 | 132 | 132 | 147 |
| Profit before tax | 17 | 13 | 40 | 26 | -45 | -55 | 26 | 58 | -32 | 78 | 146 |
| Tax % | 27% | 66% | 40% | 91% | 2% | 10% | 58% | 49% | -269% | 52% | 26% |
| 13 | 4 | 24 | 2 | -46 | -61 | 11 | 30 | 55 | 38 | 107 | |
| EPS in Rs | 12.05 | 4.11 | 20.87 | 2.02 | -36.26 | -41.98 | 6.55 | 18.46 | 33.67 | 23.15 | 38.89 |
| Dividend Payout % | 37% | 146% | 58% | 420% | -0% | -0% | -0% | -0% | -0% | 35% | 41% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 25% |
| 3 Years: | 18% |
| TTM: | 13% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | 31% |
| 3 Years: | 47% |
| TTM: | 150% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 21% |
| 3 Years: | 23% |
| 1 Year: | 16% |
| Return on Equity | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 16% |
| 3 Years: | 19% |
| Last Year: | 15% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 12 | 12 | 13 | 15 | 16 | 16 | 16 | 16 | 28 |
| Reserves | 140 | 147 | 218 | 218 | 171 | 167 | 212 | 225 | 642 | 655 | 723 |
| 338 | 362 | 357 | 417 | 470 | 470 | 585 | 668 | 851 | 813 | 752 | |
| 212 | 267 | 315 | 290 | 268 | 380 | 417 | 439 | 613 | 785 | 1,018 | |
| Total Liabilities | 701 | 787 | 902 | 937 | 922 | 1,032 | 1,230 | 1,349 | 2,122 | 2,269 | 2,521 |
| 361 | 365 | 386 | 386 | 382 | 415 | 477 | 490 | 667 | 693 | 739 | |
| CWIP | 7 | 28 | 16 | 16 | 50 | 31 | 18 | 29 | 45 | 73 | 95 |
| Investments | -0 | -0 | -0 | 1 | 1 | 1 | 1 | 1 | 11 | 7 | 8 |
| 333 | 394 | 499 | 535 | 489 | 586 | 733 | 829 | 1,398 | 1,496 | 1,679 | |
| Total Assets | 701 | 787 | 902 | 937 | 922 | 1,032 | 1,230 | 1,349 | 2,122 | 2,269 | 2,521 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 | 88 | 65 | 45 | 69 | 46 | -6 | 88 | 191 | 316 | 219 | |
| -74 | -77 | -78 | -60 | -103 | -80 | -124 | -106 | -148 | -147 | 11 | |
| 43 | -7 | 14 | 26 | 34 | 21 | 134 | 35 | -55 | -176 | -207 | |
| Net Cash Flow | -0 | 4 | 1 | 11 | 0 | -13 | 5 | 17 | -12 | -7 | 23 |
| Free Cash Flow | -44 | 10 | -13 | -15 | -34 | -34 | -106 | -20 | -2 | 159 | 229 |
| CFO/OP | 47% | 103% | 62% | 56% | 164% | 176% | 12% | 67% | 85% | 111% | 78% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 67 | 57 | 64 | 58 | 55 | 78 | 74 | 65 | 63 | 76 | 75 |
| Inventory Days | 75 | 76 | 73 | 71 | 80 | 81 | 76 | 67 | 82 | 87 | 80 |
| Days Payable | 117 | 118 | 123 | 89 | 97 | 150 | 115 | 91 | 83 | 100 | 88 |
| Cash Conversion Cycle | 25 | 15 | 14 | 39 | 38 | 9 | 35 | 41 | 62 | 63 | 67 |
| Working Capital Days | -36 | -33 | -16 | -16 | -36 | -42 | -20 | -14 | 3 | -6 | -17 |
| ROCE % | 9% | 13% | 10% | -1% | -4% | -0% | 12% | 12% | 11% | 14% |
Insights
In beta| Mar 2015 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Revenue Mix - India OEM (Group) % |
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| Global Reach (Presence in Countries) Number |
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| Number of Manufacturing Plants (Group) Number |
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| New Business Order Wins (Aggregate) INR Crores |
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| R&D Expenditure (Percentage of Turnover) % ・Standalone data |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
24h - An "Earnings Conference Call" is scheduled on, Monday, May 18, 2026 at 15:00 hours (IST), inter alia, to discuss the audited financial results for the …
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Announcement under Regulation 30 (LODR)-Newspaper Publication
7 May - Copies of extract of Audited (Standalone and Consolidated) financial results of the Company for the quarter and year ended March 31, 2026 published on May …
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Announcement under Regulation 30 (LODR)-Date of payment of Dividend
6 May - Final dividend, if approved, to be paid on August 14, 2026.
- Corporate Action-Board approves Dividend 6 May
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
6 May - Board approved FY26 audited results, Rs16 dividend, AGM on August 5, 2026, and committee reconstitution.
Annual reports
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Financial Year 2025
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Financial Year 2024
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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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Concalls
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Feb 2026TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Nov 2020TranscriptAI SummaryPPT
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Nov 2019TranscriptAI SummaryPPT
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Nov 2018TranscriptAI SummaryPPT
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Feb 2018TranscriptAI SummaryPPT
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Dec 2017TranscriptAI SummaryPPT
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Aug 2017TranscriptAI SummaryPPT
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Jun 2017TranscriptAI SummaryPPT
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.