Rane Holdings Limited (RANEHOLDIN)

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Rane Holdings Limited (RANEHOLDIN) · mywealthgrid

About

Rane Holdings is a financial-sector holding company (market cap ₹2,394 Cr) generating quarterly revenue of ₹1,340–₹1,609 Cr from main operations. Recent quarters show a bifurcated structure: a thin-margin segment (7.84% OPM, Mar 2026) alongside higher-margin operations (54.32% OPM). Precise roles of the two revenue streams and their strategic intent require verification.

Face value: ₹10

Market cap

₹2,172 Cr

P/E

25.7×

P/B

1.9×

Dividend yield

3.1%

ROE

8.7%

ROCE

14.8%

Debt / equity

0.76

OPM

7.4%

EPS (TTM)

₹59.1

Book value

₹808.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Dec 2025 saw ₹39.51 Cr net loss in one segment, swinging the group from ₹57.49 Cr profit (Jun 2025) to ₹31 Cr aggregate loss; verify the root cause and whether this reflects cyclical downturn or structural deterioration.
Main segment OPM of 7.84% (Mar 2026) is thin; verify whether pricing power exists, whether costs are fixed, and whether margins can recover if revenue softens.
ROE of 8.66% is low for a financial holding; verify whether capital is underutilized, whether returns are structurally constrained by asset mix, or whether management has leeway to optimize capital deployment.
PE of 24.47 is elevated relative to the low ROE and earnings swings; verify what assumptions underpin the valuation.

Generated analysis · source review pending

Growth drivers

Mar 2026 generated ₹109.53 Cr aggregate profit (₹21.99 Cr + ₹87.54 Cr) and ₹1,644.99 Cr revenue, reversing the Dec loss; verify sustainability of this recovery and which segment drove it.
High-margin operations generated ₹21.99 Cr profit on ₹36.34 Cr revenue (54.32% OPM in Mar 2026); verify whether this is repeatable and scalable relative to the thin-margin segment.
Consistent dividend declarations (2026-08-06, 2025-07-29, 2024-07-26, 2023-07-28) despite Dec loss indicate underlying cash generation; verify whether retained capital is being redeployed for growth or held passively.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹1,518.7-1.5%1Y

Quick read

rule-based

Pros

+Profit CAGR of 16.3% over the last 3 years
+Revenue CAGR of 23.7% over the last 5 years
+Dividend yield of 3.1%
+Dividend payout of 79.6% of profit

Cons

−Thin operating margin of 7.4%

Research score

Structured signal from quality, growth, valuation and momentum.

50/100

Business quality: 27
Growth: 52
Valuation: 71

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,340	2,340	2,155	2,035	2,677	3,508	3,530	4,362	5,883
Interest	44	44	51	40	34	50	71	86	75
Expenses	2,100	2,100	2,013	1,923	2,512	3,189	3,208	4,034	5,446
Financing profit	195	195	91	72	132	270	250	242	362
Financing margin %	8.4%	8.4%	4.2%	3.5%	4.9%	7.7%	7.1%	5.6%	6.2%
Other income	17	17	29	22	37	29	14	19	24
Depreciation	118	118	128	120	129	142	137	168	210
Exceptional items	14	14	-53	22	41	-18	-109	201	20
Profit before tax	235	235	-10	-31	74	138	76	329	177
Tax	87	87	0	29	39	51	-74	108	40
Tax %	36.9%	36.9%	4.8%	92.6%	52.4%	36.7%	-97.6%	32.8%	22.7%
PAT	149	149	-10	-60	35	87	150	221	137
EPS (₹)	91.3	91.3	-1.9	-35.4	16.9	43.6	86.7	145.1	68.5
EPS adjusted (₹)	91.2	91.2	-1.9	-35.4	16.9	43.6	86.7	145.1	68.5
	9.3%	15.9%	—	—	71%	39%	28.8%	26.2%	68.6%
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	14	14	14	14	14	14	14	14	14	14	14
Reserves	576	571	790	851	808	—	762	794	892	1,092	1,140
Minority interest	—	—	—	—	—	—	229	243	263	243	272
	513	437	455	501	535	—	777	853	822	995	882
	792	660	826	867	809	—	686	688	655	1,218	1,536
Total equity & liabilities	1,896	1,682	2,086	2,233	2,167	—	2,468	2,592	2,646	3,561	3,843
	—	784	805	797	795	729	843	866	799	1,140	1,179
CWIP	21	13	28	33	52	—	27	38	45	109	139
Investments	28	238	337	366	345	—	353	345	373	369	296
	1,847	647	916	1,036	975	—	1,245	1,343	1,429	1,944	2,229
Total assets	1,896	1,682	2,086	2,233	2,167	—	2,468	2,592	2,646	3,561	3,843

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	49.3%	47.9%	45.6%	43.7%	42.2%	43%	37.7%	33.7%
EBITDA margin %	10.2%	6.6%	5.5%	6.2%	9.1%	9.1%	7.5%	7.4%
EBIT margin %	5.2%	0.7%	-0.4%	1.4%	5.1%	5.2%	3.7%	3.9%
PAT margin %	6.4%	-0.5%	-3%	1.3%	2.5%	4.2%	5.1%	2.3%
Working capital
Receivable days	71	61	—	78	67	62	77	66
Inventory days	76	96	—	97	79	76	74	60
Payable days	122	107	—	121	87	77	102	77
NWC days	25	50	—	54	58	62	49	49
Leverage
Current ratio	1.03	0.96	—	1.03	1.09	1.09	0.92	0.88
Debt to EBITDA	1.9	3.76	—	4.69	2.67	2.56	3.03	2.02
Debt to equity	0.57	0.65	—	1	1.06	0.91	0.9	0.76
Interest coverage	3.1	0.9	0.3	2.2	4.2	2.8	2.1	3.3
Asset turnover	1.12	0.99	—	1.08	1.35	1.33	1.22	1.53
Return ratios
Return on assets %	7.1%	-0.5%	—	1.4%	3.4%	5.7%	6.2%	3.6%
Return on capital employed %	12%	3.3%	—	5.3%	14.5%	13.3%	10.9%	14.8%
Return on equity %	18.5%	-1.3%	—	4.5%	10.8%	16.5%	20%	11.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	46.57%	46.57%	46.57%	46.57%	46.55%	46.55%	46.55%	46.55%	46.55%	46.55%	46.63%	46.63%
	0.39%	0.41%	0.4%	0.49%	0.92%	0.86%	0.81%	0.83%	1.06%	0.82%	0.77%	0.93%
	2.02%	1.7%	1.59%	1.77%	3.15%	3.81%	3.84%	3.83%	4.03%	4.09%	4.12%	3.39%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	51.02%	51.32%	51.44%	51.17%	49.38%	48.78%	48.8%	48.79%	48.36%	48.54%	48.48%	49.05%
No. of shareholders	—	—	—	—	—	—	—	—	16,248	15,993	15,635	15,390

Promoter holding up 0.06 percentage points since Sep 2023.

6 deals · 2 Jul 2024 – 9 Mar 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
9 Mar 2026	SANDHYA G PARIKH	Bulk	NSE	Buy	77,858	₹1,173.00	₹9.13 Cr
9 Mar 2026	CHINMAY G PARIKH	Bulk	NSE	Sell	77,795	₹1,173.00	₹9.13 Cr
21 Aug 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	75,061	₹1,958.87	₹14.70 Cr
21 Aug 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	75,061	₹1,957.96	₹14.70 Cr
2 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,11,476	₹1,769.50	₹19.73 Cr
2 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,11,476	₹1,766.66	₹19.69 Cr

1–6 of 6

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. GANESH LAKSHMINARAYANExecutive Director-Chairperson related to Promoter-MD
Mr. HARISH LAKSHMANExecutive Director-MD
Mr. RAJEEV GUPTANon-Executive - Independent Director
Mrs. BRINDA JAGIRDARNon-Executive - Independent Director
Mr. PRADIP KUMAR BISHNOINon-Executive - Independent Director
Mr. M M MURUGAPPANNon-Executive - Independent Director
Mr. MAP Sridhar KumarChief Financial Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Schemes holding

across 1 fund houses

Held by these funds

0.16%

of the company's equity

All mutual funds

1.89%

shareholding pattern, Jun 2026

Portfolios as of

June 2026

no prior month

1 schemes

		Shares
Flexi Cap Fund	Bank of India Mutual Fund	22,619	3.77	0.14%	0.158%	—

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

102 announcementsExport CSV

30 Sept 2026, 11:15 amCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication

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Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	49.3%	47.9%	45.6%	43.7%	42.2%	43%	37.7%	33.7%
EBITDA margin %	10.2%	6.6%	5.5%	6.2%	9.1%	9.1%	7.5%	7.4%
EBIT margin %	5.2%	0.7%	-0.4%	1.4%	5.1%	5.2%	3.7%	3.9%
PAT margin %	6.4%	-0.5%	-3%	1.3%	2.5%	4.2%	5.1%	2.3%
Working capital
Receivable days	71	61	—	78	67	62	77	66
Inventory days	76	96	—	97	79	76	74	60
Payable days	122	107	—	121	87	77	102	77
NWC days	25	50	—	54	58	62	49	49
Leverage
Current ratio	1.03	0.96	—	1.03	1.09	1.09	0.92	0.88
Debt to EBITDA	1.9	3.76	—	4.69	2.67	2.56	3.03	2.02
Debt to equity	0.57	0.65	—	1	1.06	0.91	0.9	0.76
Interest coverage	3.1	0.9	0.3	2.2	4.2	2.8	2.1	3.3
Asset turnover	1.12	0.99	—	1.08	1.35	1.33	1.22	1.53
Return ratios
Return on assets %	7.1%	-0.5%	—	1.4%	3.4%	5.7%	6.2%	3.6%
Return on capital employed %	12%	3.3%	—	5.3%	14.5%	13.3%	10.9%	14.8%
Return on equity %	18.5%	-1.3%	—	4.5%	10.8%	16.5%	20%	11.9%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Bajaj Holdings & Investment LimitedBAJAJHLDNGBAJAJHLDNG	₹1,18,713 Cr	₹1,18,713 Cr	₹1,139 Cr	₹965 Cr	84.8%	₹8,993 Cr	915.2%	—	14.2%	—
Choice International LimitedCHOICEINCHOICEIN	₹16,028 Cr	₹16,912 Cr	₹1,194 Cr	₹421 Cr	35.8%	₹251 Cr	21.3%	21.9%	16.1%	117
Edelweiss Financial Services LimitedEDELWEISSEDELWEISS	₹13,052 Cr	₹31,557 Cr	₹10,517 Cr	₹2,903 Cr	29.7%	₹602 Cr	6.5%	—	12.1%	—
Jm Financial LimitedJMFINANCILJMFINANCIL	₹11,809 Cr	₹23,331 Cr	₹4,180 Cr	₹2,360 Cr	61.4%	₹1,040 Cr	29.4%	—	11.8%	—
Kama Holdings LimitedKAMAHOLDKAMAHOLD	₹7,264 Cr	—	₹38 Cr	₹37 Cr	97.7%	₹38 Cr	100.6%	—	7.1%	—
Rane Holdings LimitedRANEHOLDINRANEHOLDIN	₹2,172 Cr	₹3,053 Cr	₹6,129 Cr	₹442 Cr	7.4%	₹84 Cr	2.3%	14.8%	8.7%	49
Bf Investment LimitedBFINVESTBFINVEST	₹1,616 Cr	₹1,616 Cr	₹78 Cr	₹66 Cr	83.9%	₹390 Cr	369.5%	—	3.7%	—
Balmer Lawrie Investments LimitedBLILBLIL	₹1,443 Cr	—	₹124 Cr	—	—	₹31 Cr	25%	—	16.7%	—
Abans Financial Services LimitedAFSLAFSL	₹1,021 Cr	₹1,765 Cr	₹25,747 Cr	₹206 Cr	0.7%	₹128 Cr	0.4%	12.2%	8.3%	-0
Max India LimitedMAXINDMAXIND	₹856 Cr	₹858 Cr	₹214 Cr	₹-112 Cr	-55.6%	₹-132 Cr	-63.9%	-22.2%	-31.8%	-59
Gfl LimitedGFLLIMITEDGFLLIMITED	₹607 Cr	₹607 Cr	₹4 Cr	₹2 Cr	47.6%	₹61 Cr	—	—	1.8%	—
Nisus Finance Services Co LtdNISUSNISUS	₹384 Cr	—	₹561 Cr	₹139 Cr	24.7%	₹70 Cr	12.5%	—	—	—

Date	Category	Subject	Filing
30 Sept 2026, 11:15 am	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
29 Sept 2026, 6:31 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
29 Sept 2026, 6:21 pm	Board Meeting	Board Meeting Intimation For: Consider And Approve The Unaudited Financial Results For The Quarter And Half - Year Ending September 30, 2026.	PDF
28 Sept 2026, 10:35 pm	Company Update General	Disclosure Under Regulation 30 - Part A Para B.8 Schedule III Of SEBI LODR	PDF
27 Aug 2026, 8:47 pm	Company Update Earnings Call Transcript	Announcement under Regulation 30 (LODR)-Earnings Call Transcript	PDF
27 Aug 2026, 5:19 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
21 Aug 2026, 8:30 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome	PDF
20 Aug 2026, 9:57 pm	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	174	241	132	15	186	233	513	280
	-157	-52	-96	-114	-152	-105	-200	-0
	-20	-119	-36	65	-14	-138	-324	-256
Net cash flow	—	—	0	-34	20	-9	-11	23
Free cash flow	—	—	30	-118	28	24	289	-36
CFO / Operating profit %	—	100.5%	118.4%	9.3%	58.3%	72.6%	156.5%	64%

Rane Holdings Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

1

26

2

Compounded sales growth

Compounded profit growth

Return on equity

Rane Holdings Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Upcoming and recent1

Dividends26

Board meetings2

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

26

2