Rane (Madras) Ltd
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]
- Market Cap ₹ 1,852 Cr.
- Current Price ₹ 1,138
- High / Low ₹ 1,529 / 624
- Stock P/E 13.0
- Book Value ₹ 161
- Dividend Yield 0.00 %
- ROCE 11.7 %
- ROE 61.6 %
- Face Value ₹ 10.0
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 7.09 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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: | 10% |
5 Years: | 34% |
3 Years: | 44% |
1 Year: | 31% |
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% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Scheme of Arrangement
1d - NCLT orders meetings for amalgamation of Rane companies.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
2d - Copy of the certificate dated October 03, 2024 received from M/s. Integrated Registry Management Services Private Limited for the quarter ended September 30, 2024.
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Board Meeting Intimation for Consider And Approve The Unaudited Financial Results For The Quarter Ending September 30, 2024.
30 Sep - Board meeting scheduled for October 24, 2024.
- Closure of Trading Window 30 Sep
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Reply To Clarification On Price Movement
23 Aug - Clarification on recent price movement; no comments.
Annual reports
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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 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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Concalls
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Aug 2024TranscriptNotesPPT
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Part of Rane Group[1]
Rane (Madras) is a part of Rane group which is one of the preferred OE manufacturer and supplier for global auto majors. The Group serves a variety of industry segments: PVs, CVs, Farm Tractors, 2-wheelers, 3-wheelers, Railways and Stationary Engines. It manufactures Steering and Suspension systems, Friction materials, Valve train
components, Occupant safety systems and Light metal casting products.
Rane Holdings Ltd. holds 71.77% equity in the company.[2]