Robust demand from domestic and Export market for Steering and Linkages division During the quarter, the Company witnessed strong demand in passenger vehicle segment for its steering and linkages division amidst gain in market share in from manual steering business. Demand for Steering and Linkages division was also strong from International customers. RML introduced new products during the quarter in hydraulic steering and added Escorts and Swaraj Mazda as its customers. The company's hydraulic...

Rane (Madras) Ltd (RML) recently declared its Q1FY19 results. Following are the key highlights of Q1FY19 (Standalone Basis): o Net Sales rose 37.8% (YoY) to `3.4bn o EBITDA Margins expanded by12bps (YoY) to 9.2%...

Rane (Madras) Ltd (RML) Q3FY18 standalone results were better than our expectations. Following are the key highlights of Q3FY18: o Net Sales Up by 31.7% (YoY) to `3.1bn o EBITDA Margins expanded by 339bps (YoY) to 11.9%...

Rane (Madras) Ltd (RML) Q2FY18 standalone results were better than our expectations. Following are the key highlights of Q2FY18: o Net Sales Up by 16.7% (YoY) to `2.9bn o EBITDA Margins expanded by27bps (YoY) to 10.7%...

Robust demand from domestic and Export market During the year, the Company witnessed strong demand from Passenger Car and Commercial Vehicle segments for its steering and linkages division. The Company is also seeing higher demand for its diecasting products from International and Indian customers. Its second Die casting plant in Hyderabad has ramped up production which has resulted in robust volume growth in FY17. Also RML has upgraded its R&D; facilities which has helped it in winning export business with customers like Daimler, Volvo for supply of linkages. However during...

Notes to investor : RML management has shown exemplary management quality which is reflected in its sound corporate governance practices, prudent capital allocation and ~35% dividend payout ratio. We also like the RML's business quality and expect it to strengthen over the medium to long term. Since the stock is not very liquid and thinly traded, we advise investors to keep accumulating the stock around the current market price (in a range of 5-10%) with medium-to-long term investment perspective. We believe, the stock has many qualities reminiscent of a steady compounder for its investors and stakeholders. Way2Wealth Brokers Pvt. Ltd. (CIN U67120KA2000PTC027628) SEBI Rgn. No. : INH200002739 No. 14, Frontline Granduer, Walton Road, Bangalore-560001; Website: www.way2wealth.com Email: research@way2wealth.com...