Rane (Madras) Limited (RML)

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Rane (Madras) Limited (RML) · mywealthgrid

About

Rane (Madras) Limited manufactures auto components and equipment for India's automotive supply chain, operating in the Consumer Discretionary sector. At ₹3,073.26 Cr market cap, it is a mid-cap supplier with an 8.8% operating margin and ROE of 15.12%. Recent quarterly revenue averages ₹1,000 Cr with consistent profitability across Sep 2025–Jun 2026.

Face value: ₹10

Market cap

₹3,707 Cr

P/E

31.1×

P/B

4.9×

Dividend yield

1.2%

ROE

15.1%

ROCE

22.1%

Debt / equity

0.84

OPM

8.8%

EPS (TTM)

₹43.1

Book value

₹271.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins thin at 8.8% (recent range 8.34%-9.31%), limiting absorption of input cost inflation or customer price compression. Verify cost structure and ability to escalate prices.

Valuation at PE 25.81 appears stretched after 35.71% 1-year return. Verify if earnings growth trajectory justifies the multiple or if near-term correction risk exists.

Auto components sector is cyclical and dependent on OEM production volumes. Verify order visibility, major customer concentration, and exposure to any OEM slowdown.

Quarterly revenue volatility (₹919.5 Cr Sep 2025 to ₹1,047.87 Cr Mar 2026) suggests demand or capacity sensitivity. Verify if swings are seasonal or tied to customer orders.

Generated analysis · source review pending

Growth drivers

Operating margin recovery: Mar 2026 OPM 9.31% vs Jun 2026 8.44%; if company stabilizes margins near 9% on ₹1,000+ Cr quarterly revenue, fixed-cost absorption expands net profit. Verify cost inflation trends.

Revenue growth capacity: quarterly revenue peaked ₹1,047.87 Cr (Mar 2026); if OEM demand grows 10-15% from ₹1,000 Cr run rate, volume growth is achievable without market-share gains. Verify order pipeline.

EPS expansion from volume leverage: EPS ranged ₹7.77–₹13.47 (Sep 2025 to Mar 2026); revenue growth at stable margins scales EPS higher. Verify capacity utilization and capex constraints.

Dividends and cash retention: company paid dividends in 2025 and 2026; if free cash flow remains strong, retained earnings support organic growth investment. Verify debt headroom and capex intensity.

Generated analysis · source review pending

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

₹1,343.2-2.7%1Y

Quick read

rule-based

Pros

+High return on capital employed of 21.8%
+Profit CAGR of 610.2% over the last 3 years
+Revenue CAGR of 25% over the last 5 years
+Dividend payout of 37.1% of profit
+High promoter holding of 70.5% with no pledge

Cons

−Low return on equity of 8.5% (3-yr avg)

Research score

Structured signal from quality, growth, valuation and momentum.

62/100

Business quality: 37
Growth: 94
Valuation

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.

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Schaeffler India LimitedSCHAEFFLERSCHAEFFLER	₹60,732 Cr	₹60,787 Cr	₹10,505 Cr	₹1,917 Cr	18.2%	₹1,253 Cr	11.9%	27.3%	20.2%	68
Sona Blw Precision Forgings LimitedSONACOMSSONACOMS	₹50,071 Cr	₹50,314 Cr	₹4,935 Cr	₹1,207 Cr	24.7%	₹686 Cr	14.1%	14.6%	11%	121
Tube Investments Of India LimitedTIINDIATIINDIA	₹45,302 Cr	₹45,695 Cr	₹23,754 Cr	₹2,260 Cr	9.9%	₹607 Cr	4.9%	15.4%	9.6%	41
Endurance Technologies LimitedENDURANCEENDURANCE	₹36,602 Cr	₹37,928 Cr	₹15,592 Cr	₹2,058 Cr	13.5%	₹970 Cr	6.5%	18.5%	15.2%	-6
Exide Industries LimitedEXIDEINDEXIDEIND	₹34,803 Cr	₹35,896 Cr	₹18,829 Cr	₹1,954 Cr	10.4%	₹932 Cr	4.8%	8.9%	6.1%	42
Dhoot Transmission LimitedDHOOTTRANSDHOOTTRANS	₹29,518 Cr	₹30,359 Cr	₹4,525 Cr	₹711 Cr	15.7%	₹397 Cr	8.8%	30.8%	23.1%	69
Craftsman Automation LimitedCRAFTSMANCRAFTSMAN	₹26,897 Cr	₹30,238 Cr	₹8,717 Cr	₹1,357 Cr	15.3%	₹465 Cr	4.8%	16.1%	12.5%	74
Sansera Engineering LimitedSANSERASANSERA	₹26,686 Cr	₹27,144 Cr	₹3,753 Cr	₹696 Cr	18.1%	₹351 Cr	9.3%	14.7%	11.1%	98

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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 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,555	1,277	1,267	17	24	2,239	3,406	3,863
COGS	931	756	773	11	15	1,408	1,962	2,281
Gross profit	624	522	494	7	9	831	1,443	1,582
	508	476	464	6	7	685	1,161	1,242
	116	46	31	1	2	146	282	340
OPM %	7.5%	3.6%	2.4%	4.3%	7.8%	6.5%	8.3%	8.8%
Depreciation	66	66	66	1	1	91	132	147
Interest	34	37	27	0	0	56	75	59
	10	12	7	1	0	-101	3	12
Profit before tax	26	-45	-55	0	1	-103	78	146
Tax	23	1	6	0	0	-106	40	38
Tax %	90.6%	2.2%	10.2%	57.7%	48.3%	-103%	51.7%	26.3%
	2	-46	-61	0	0	3	38	107
PAT margin %	0.2%	-3.6%	-4.8%	0.6%	1.3%	0.1%	1.1%	2.8%
EPS (₹)	2.1	-38	-42	7	18.5	1.9	13.6	38.9
EPS adjusted (₹)	2	-36.3	-42	0.1	18.8	1.9	23.1	38.9
	410.6%	—	—	0%	0%	0%	58.7%	41.1%
Annual report	Annual report for Mar 2019	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	19	11	12	12	13	15	16	0	16	16	28
Reserves	140	141	218	218	171	167	212	2	240	655	723
Minority interest	—	—	—	—	—	—	—	0	—	—	—
	284	281	336	364	397	362	507	7	701	761	634
	259	272	336	343	341	488	494	4	413	837	1,137
Total equity & liabilities	701	705	902	937	922	1,032	1,230	13	1,369	2,269	2,521
	361	365	387	386	378	415	477	5	453	693	739
CWIP	7	7	16	16	50	31	18	0	27	73	95
Investments	—	—	1	1	1	1	1	0	2	7	8
	333	332	498	535	494	586	733	8	887	1,496	1,679
Total assets	701	705	902	937	922	1,032	1,230	13	1,369	2,269	2,521

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	40.1%	40.8%	39%	37.4%	36.8%	37.1%	42.4%	41%
EBITDA margin %	7.5%	3.6%	2.4%	4.3%	7.8%	6.5%	8.3%	8.8%
EBIT margin %	3.2%	-1.5%	-2.8%	-0.4%	3.7%	2.5%	4.4%	5%
PAT margin %	0.2%	-3.6%	-4.8%	0.6%	1.3%	0.1%	1.1%	2.8%
Working capital
Receivable days	58	55	78	7,441	65	55	76	75
Inventory days	67	76	75	7,064	62	62	81	80
Payable days	—	—	139	10,694	85	74	93	88
NWC days	—	—	14	3,810	42	44	64	67
Leverage
Current ratio	0.9	0.78	0.78	0.89	0.92	0.86	0.98	0.92
Debt to EBITDA	3.14	8.64	11.75	685.58	3.6	4.8	2.7	1.87
Debt to equity	1.58	2.16	1.99	2.22	2.73	2.74	1.13	0.84
Interest coverage	1.7	-0.1	-1.1	-0.1	3.1	1.1	2.2	3.5
Asset turnover	1.66	1.39	1.23	0.01	1.74	1.64	1.5	1.53
Return ratios
Return on assets %	0.3%	-4.9%	-5.9%	0%	2.2%	0.2%	1.7%	4.3%
Return on capital employed %	14.5%	-1.3%	-6.8%	-0%	0.4%	21.3%	21.9%	22.1%
Return on equity %	1.1%	-24.8%	-33.6%	0%	12.4%	1.2%	5.6%	14.3%

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
	72.65%	72.65%	72.65%	72.65%	72.65%	72.65%	72.65%	70.45%	70.45%	70.45%	70.45%	70.45%
	0.01%	0%	0.01%	0.01%	0.21%	0.07%	0.09%	0.03%	0.04%	0.05%	0.06%	0.33%
	0.5%	0.63%	0.47%	0%	0.13%	0.13%	0.12%	1.04%	1.04%	1.03%	0.98%	0.79%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	26.84%	26.72%	26.87%	27.34%	27.01%	27.15%	27.14%	28.48%	28.47%	28.47%	28.51%	28.43%
No. of shareholders	—	—	—	—	—	—	—	—	32,127	30,907	29,856	28,932

Promoter holding down 2.2 percentage points since Sep 2023.

14 deals · 5 May 2023 – 19 Jun 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
19 Jun 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	1,38,598	₹1,111.62	₹15.41 Cr
19 Jun 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	1,38,598	₹1,110.60	₹15.39 Cr
22 Aug 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,18,893	₹1,441.59	₹17.14 Cr
22 Aug 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,18,893	₹1,437.13	₹17.09 Cr
6 May 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,33,787	₹974.42	₹13.04 Cr
6 May 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,33,787	₹974.97	₹13.04 Cr
13 Sept 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	98,742	₹808.20	₹7.98 Cr
13 Sept 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	98,742	₹807.69	₹7.98 Cr
26 Jul 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	86,923	₹693.37	₹6.03 Cr
26 Jul 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	86,923	₹692.06	₹6.02 Cr

1–10 of 14

1 / 2

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. HARISH LAKSHMANExecutive Director-Chairperson related to Promoter-MD
C SivaHead-Secretarial & Legal
Mr. GANESH LAKSHMINARAYANNon-Executive - Non Independent Director
Mr. PRADIP KUMAR BISHNOINon-Executive - Independent Director
Mr. RAMESH RAJAN NATARAJANNon-Executive - Independent Director
Mrs. VASUDHA SUNDARARAMANNon-Executive - Independent Director
Mr. VIKRAM TARANATH HOSANGADYNon-Executive - Independent Director
Mr. Ramkumar LakshminarayananNon - Executive Independent Director
Mr. B GnanasambandamChief Financial Officer
S Subha ShreeCompany Secretary & Compliance 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.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Rane (Madras) Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

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

Announcements

Loading documents…

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

93 announcementsExport CSV

30 Sept 2026, 9:24 pmCompany Update

Update On Sale Of Surplus Land Parcel

General PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	40.1%	40.8%	39%	37.4%	36.8%	37.1%	42.4%	41%
EBITDA margin %	7.5%	3.6%	2.4%	4.3%	7.8%	6.5%	8.3%	8.8%
EBIT margin %	3.2%	-1.5%	-2.8%	-0.4%	3.7%	2.5%	4.4%	5%
PAT margin %	0.2%	-3.6%	-4.8%	0.6%	1.3%	0.1%	1.1%	2.8%
Working capital
Receivable days	58	55	78	7,441	65	55	76	75
Inventory days	67	76	75	7,064	62	62	81	80
Payable days	—	—	139	10,694	85	74	93	88
NWC days	—	—	14	3,810	42	44	64	67
Leverage
Current ratio	0.9	0.78	0.78	0.89	0.92	0.86	0.98	0.92
Debt to EBITDA	3.14	8.64	11.75	685.58	3.6	4.8	2.7	1.87
Debt to equity	1.58	2.16	1.99	2.22	2.73	2.74	1.13	0.84
Interest coverage	1.7	-0.1	-1.1	-0.1	3.1	1.1	2.2	3.5
Asset turnover	1.66	1.39	1.23	0.01	1.74	1.64	1.5	1.53
Return ratios
Return on assets %	0.3%	-4.9%	-5.9%	0%	2.2%	0.2%	1.7%	4.3%
Return on capital employed %	14.5%	-1.3%	-6.8%	-0%	0.4%	21.3%	21.9%	22.1%
Return on equity %	1.1%	-24.8%	-33.6%	0%	12.4%	1.2%	5.6%	14.3%

Date	Category	Subject	Filing
30 Sept 2026, 9:24 pm	Company Update General	Update On Sale Of Surplus Land Parcel	PDF
30 Sept 2026, 10:55 am	Company Update General	Newspaper Advertisement - Window For Re-Lodgement Of Transfer Requests For Physical Shares	PDF
29 Sept 2026, 6:23 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
29 Sept 2026, 6:15 pm	Board Meeting	Board Meeting Intimation for Consideration And Approval Of The Unaudited Financial Results For The Quarter And Half Year Ending September 30, 2026	PDF
7 Sept 2026, 1:48 pm	Company Update General	Reply To Clarification On Increase In Volume	PDF
7 Sept 2026, 12:22 pm	Company Update Clarification	Clarification sought from Rane (Madras) Ltd	—
27 Aug 2026, 8:40 pm	Company Update Earnings Call Transcript	Announcement under Regulation 30 (LODR)-Earnings Call Transcript	PDF
21 Aug 2026, 8:20 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	31	90	73	45	69	46	-0	1	120	316	219
	-74	-60	-70	-60	-103	-80	-1	-1	-110	-147	11
	43	-28	-1	26	34	21	1	0	-14	-176	-207
Net cash flow	-0	1	3	11	0	-13	0	0	-4	-7	23
Free cash flow	—	—	—	—	—	-35	-1	-0	-17	131	28
CFO / Operating profit %	—	—	—	38.5%	150.7%	149%	-8.1%	48.1%	82.2%	111.9%	64.5%

Rane (Madras) 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

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

1

20

2

Compounded sales growth

Compounded profit growth

Return on equity

Rane (Madras) 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

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Upcoming and recent1

Dividends20

Board meetings2

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

20

2