Rane Holdings announced Q3FY24 & 9MFY24 results: Consolidated Q3FY24 Performance: - Total Revenue: Rs 841.3 crore, a decrease of -7.1% from Q3FY23. - EBITDA: Rs 94.5 crore, down by 13.7% compared to Q3FY23. - EBITDA Margin: 11.2% for Q3FY24, a decrease from 12.1% in Q3FY23. - Net Profit: Rs 48.0 crore, a decrease of 6.6% from Rs 51.5 crore in Q3FY23. Consolidated 9MFY24 Performance: - Total Revenue: Rs 2,669.6 crore, up by 3.1% from 9MFY23. - EBITDA: Rs 248.1 crore, an increase of 5.9% from 9MFY23. - EBITDA Margin: 9.3% for 9MFY24, up from 9.0% in 9MFY23. - Net Profit: Rs 111.2 crore, a significant increase of 16.6% from 9MFY23. Operational Performance for Q3FY24: - Revenue from Indian OE customers grew by 12%. - Revenue from International customers decreased by 10% due to divestment of LMCA business. - Organic growth is reported at 4%. - Indian aftermarket segment revenue increased by 1%. - EBITDA margin decreased by 86 bps mainly due to adverse product mix. "The group companies continued to benefit on account of the positive demand environment in India and worked on operational improvement initiatives. Despite sluggish demand on certain segments and increased risks globally, we remain cautiously optimistic and prioritise on cost savings initiatives", L. Ganesh, Chairman & Managing Director, Rane Holdings. Result PDF
Rane Holdings announced Q2FY24 & H1FY24 results: Consolidated Q2FY24: Total Revenue was Rs 930.5 crore in Q2FY24 compared to Rs 883.8 crore in Q2FY23, an increase of 5.3% EBITDA stood at Rs 72.7 crore compared to Rs 66.8 crore during Q2FY23, an increase of 8.7% EBITDA Margin at 7.8% for Q2FY24 against 7.6% in Q2FY23 Net profit stood at Rs 51.1 crore for Q2FY24 compared to Rs 23.3 crore in Q2FY23, an increase of 119.0% Consolidated H1FY24: Total Revenue was Rs 1,828.2 crore in H1FY24 compared to Rs 1,704.9 crore in H1FY23, an increase of 7.2% EBITDA stood at Rs 153.6 crore compared to Rs 124.8 crore during H1FY23, an increase of 23.1% EBITDA Margin at 8.4% for H1FY24 against 7.3% in H1FY23 Net profit stood at Rs 63.2 crore for H1FY24 compared to Rs 43.9 crore in H1FY23, an increase of 43.8% "Rane Group companies continued to benefit on account of favourable demand environment in India and strong pull from export customers. The group companies are working on several operational improvement initiatives to enhance efficiencies. Though we remain positive about the demand environment, given the dynamic macro and geopolitical situation we are working closely with our customers and focusing on operational improvements.", said, L. Ganesh, Chairman & Managing Director, Rane Holdings. Result PDF
Auto parts & equipment company Rane Holdings announced consolidated Q1FY24 results: Total revenue was Rs 897.7 crore in Q1FY24 compared to Rs 821.1 crore in Q1FY23, an increase of 9.3% EBITDA stood at Rs 80.9 crore compared to Rs 58.0 crore during Q1FY23, an increase of 39.5% EBITDA margin at 9.0% for Q1FY24 against 7.1% in Q1FY23 Net profit stood at Rs 12.1 crore for Q1FY24 compared to Rs 20.6 crore in Q1FY23, a decrease of 41.3% "Q1FY24 was an eventful quarter for Rane Group companies with demand remaining strong across major customer segments in India and International markets. Focused cost reduction initiatives and favourable material price trends resulted in profitability improvement. Demand across major vehicle segments continues to remain robust. We are closely monitoring the evolving economic indicators and continuing to prioritise cost reduction and operational improvement programs in the upcoming quarter," said L. Ganesh, Chairman & Managing Director, Rane Holdings. Result PDF
Auto parts & equipment company Rane Holdings announced Q4FY23 & FY23 results: Q4FY23: Revenue was Rs 948.2 crore in Q4FY23, compared to Rs 791.9 crore in Q4FY22, an increase of 19.7% EBITDA stood at Rs 114.3 crore, compared to Rs 73.9 crore during Q4FY22, an increase of 54.6% EBITDA margin at 12.1% for Q4FY23 against 9.3% in Q4FY22 Net loss stood at Rs 8.1 crore for Q4FY23, compared to a loss of Rs 12.8 crore in Q4FY22 FY23: Total revenue was Rs 3,537.5 crore in FY23, compared to Rs 2,714.7 crore in FY22, an increase of 30.3% EBITDA stood at Rs 348.6 crore, compared to Rs 203.1 crore during FY22, an increase of 71.7% EBITDA margin at 9.9% for FY23, against 7.5% in FY22 PAT stood at Rs 87.3 crore for FY23, compared to Rs 35.1 crore in FY22, an increase of 149.0% A dividend of Rs 17 per equity share has been recommended by the board of directors on the paid-up capital of 1,42,77,809 of Rs 10 each "Rane Group companies posted strong revenue growth supported by favourable demand environment in India and higher off-take from international customers. Higher volumes and improved operational performance resulted in improved profitability. Though we see a slowdown in major global economies, the growth momentum across vehicle segments in India continues to remain strong. We navigate this macro environment scenario cautiously prioritizing operational improvement and cost reduction measures," said L Ganesh, Chairman & Managing Director, Rane Holdings Result PDF
Auto Parts & Equipment firm Rane Holdings announced Q3FY23 results: Consolidated Q3FY23: Total revenue was Rs 905.9 crore in Q3FY23 compared to Rs 703.2 crore in Q3FY22, an increase of 28.8% EBITDA stood at Rs 109.5 crore compared to Rs 58.5 crore during Q3FY22, an increase of 87.1% EBITDA margin at 12.1% for Q3FY23 against 8.3% in Q3FY22 PAT stood Rs 51.5 crore for Q3FY23 compared to Rs 10.6 crore in Q3FY22, an increase of 387.2% Consolidated 9MFY23: Total revenue was Rs 2,589.3 crore in 9MFY23 compared to Rs 1,926.3 crore in 9MFY22, an increase of 34.4% EBITDA stood at Rs 234.3 crore compared to Rs 129.1 crore during 9MFY22, an increase of 81.5% EBITDA margin at 9.0% for 9MFY23 against 6.7% in 9MFY22 PAT stood at Rs 95.4 crore for 9MFY23 compared to Rs 47.8 crore in 9MFY22, an increase of 99.4% Commenting on performance L Ganesh, Chairman & Managing Director, Rane Holdings Ltd, said, "Rane Group companies posted strong revenue growth supported by robust demand environment in India and strong off-take from international customers. Higher volumes and price recovery from customers supported profitability improvement. Though the demand environment in India remains strong, we remain cautious given the evolving economic scenario across major global economies." Result PDF
Auto part & equipment manufacturer Rane Holdings announced Q2FY23 results: Consolidated Q2 FY23: Total Revenue was Rs.883.8 Crore in Q2FY23 compared to Rs.697.3 Crore in Q2 FY22, an increase of 26.7% EBITDA stood at Rs.66.8 Crore compared to Rs.47.2 Crore during Q2FY22, an increase of 41.5% EBITDA Margin at 7.6% for Q2FY23 against 6.8% in Q2FY22 PAT stood at Rs.23.3 Crore for Q2 FY23 compared to Rs.16.5 Crore in Q2 FY22, an increase of 41.1% Consolidated H1FY23: Total Revenue was Rs.1,704.9 Crore in H1FY23 compared to Rs.1,223.1 Crore in H1FY22, an increase of 39.4% EBITDA stood at Rs.124.8 Crore compared to Rs.70.6 Crore during H1FY22, an increase of 76.8% EBITDA Margin at 7.3% for H1FY23 against 5.8% in H1FY22 PAT stood at Rs.43.9 Crore for H1 FY23 compared to Rs.37.3 Crore in H1FY22, an increase of 17.8% "The group companies posted strong revenue growth supported by favourable demand from Indian OE and Export customers. Higher volumes and improved operational performance helped to mitigate material price increases. The demand environment remains strong with the ongoing festive season, however we remain cautious given the global economic situation and tightening monetary policy." - L. Ganesh, Chairman & Managing Director, Rane Holdings Ltd. Result PDF