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Rane Brake Lining Overview

Rane Brake Lining Ltd manufactures and markets automobile components to original gadget producers and aftermarket customers in India and across the world. It offers friction material products, which include brake linings, disc pads, snatch facings, clutch buttons, brake shoes, and railway brake blocks for passenger automobiles, utility automobiles, commercial motors, two wheelers, and railways. The business enterprise was previously referred to as Rane Brake Products Ltd and modified its name to Rane Brake Lining Ltd in February 2008. The enter...Read More

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Rane Brake Lining Key Financials

Market Cap ₹576 Cr.

Stock P/E 14.3

P/B 2

Current Price ₹744.6

Book Value ₹ 372.5

Face Value 10

52W High ₹822

Dividend Yield 4.03%

52W Low ₹ 702.5

Rane Brake Lining Share Price

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Volume
Price

Rane Brake Lining Quarterly Price

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Rane Brake Lining Peer Comparison

Rane Brake Lining Quarterly Results

#(Fig in Cr.) Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024
Net Sales 141 153 165 152 158 164 186 160 174 185
Other Income 4 1 1 1 0 1 1 1 1 1
Total Income 145 155 166 153 158 165 187 161 175 186
Total Expenditure 131 137 145 141 140 146 158 142 154 167
Operating Profit 14 17 21 12 18 19 29 18 21 19
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 5 5 5 5 5 5 6 6 6 6
Exceptional Income / Expenses 0 0 0 0 0 0 -1 0 -0 -0
Profit Before Tax 9 12 16 7 13 14 21 12 15 13
Provision for Tax 2 3 4 2 3 3 6 3 4 3
Profit After Tax 6 9 12 5 10 10 15 9 11 9
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 6 9 12 5 10 10 15 9 11 9
Adjusted Earnings Per Share 8.4 11.9 15.5 6.7 12.4 13.1 19.9 11.4 14.3 12.3

Rane Brake Lining Profit & Loss

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Net Sales 384 416 448 466 482 514 471 424 506 599 661 705
Other Income 2 2 3 4 5 7 10 13 13 8 2 4
Total Income 387 418 452 471 488 521 481 437 518 607 663 709
Total Expenditure 344 371 394 393 407 446 410 365 461 542 585 621
Operating Profit 43 48 58 78 80 75 71 72 57 65 78 87
Interest 8 6 3 1 0 0 0 0 0 0 0 0
Depreciation 18 21 19 20 24 24 26 24 21 20 22 24
Exceptional Income / Expenses 0 0 0 -15 -2 -1 0 0 -1 0 -1 -1
Profit Before Tax 17 21 35 43 55 49 45 47 35 45 54 61
Provision for Tax -0 4 10 8 19 13 10 15 8 11 14 16
Profit After Tax 17 16 26 35 36 37 34 32 27 33 40 44
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 17 16 26 35 36 37 34 32 27 33 40 44
Adjusted Earnings Per Share 21.8 20.4 32.6 44.2 45.2 46.2 43.4 41 35 43.3 52.1 57.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 10% 16% 5% 6%
Operating Profit CAGR 20% 3% 1% 6%
PAT CAGR 21% 8% 2% 9%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 6% 3% -2% 7%
ROE Average 15% 13% 14% 16%
ROCE Average 20% 17% 18% 20%

Rane Brake Lining Balance Sheet

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Shareholder's Funds 112 122 138 167 188 210 229 238 243 261 281
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 27 11 5 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 12 13 10 6 3 128 139 154 6 5 7
Total Current Liabilities 178 176 104 105 231 143 127 139 150 108 113
Total Liabilities 329 321 256 278 422 481 494 531 399 374 401
Fixed Assets 133 117 104 121 114 118 133 118 114 118 127
Other Non-Current Assets 10 12 14 15 17 145 152 166 21 18 20
Total Current Assets 186 192 138 141 291 218 209 248 264 238 254
Total Assets 329 321 256 278 422 481 494 531 399 374 401

Rane Brake Lining Cash Flow

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents 1 3 1 2 1 10 14 38 50 21 7
Cash Flow from Operating Activities 29 45 52 62 49 44 73 46 11 49 29
Cash Flow from Investing Activities -10 -5 -8 -34 -19 -25 -35 -10 -18 -48 -13
Cash Flow from Financing Activities -17 -43 -44 -28 -21 -15 -15 -24 -22 -16 -20
Net Cash Inflow / Outflow 2 -2 1 -1 8 4 24 12 -28 -14 -3
Closing Cash & Cash Equivalent 3 1 1 1 10 14 38 50 21 7 4

Rane Brake Lining Ratios

# Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) 21.76 20.37 32.57 44.16 45.2 46.18 43.41 41.03 35.02 43.29 52.11
CEPS(Rs) 44.79 46.85 56.47 68.81 75.17 76.84 76.65 72.54 62.73 69.16 80.36
DPS(Rs) 7.5 7 10 15 15.5 15.5 17 25 20 25 30
Book NAV/Share(Rs) 141.92 153.86 174.37 210.83 237.94 265.2 289.28 306.66 314.15 337.88 363.62
Core EBITDA Margin(%) 9.27 9.66 10.68 13.21 14.45 12.54 12.37 13.15 8.37 9.03 11.02
EBIT Margin(%) 5.62 5.65 7.61 7.85 10.6 9.2 9.14 10.66 6.58 7.15 7.96
Pre Tax Margin(%) 3.86 4.37 6.97 7.71 10.57 9.12 9.13 10.55 6.58 7.14 7.96
PAT Margin (%) 3.97 3.42 5.06 6.3 6.88 6.76 7.02 7.15 5.14 5.36 5.89
Cash Profit Margin (%) 8.17 7.87 8.77 9.82 11.45 11.25 12.39 12.64 9.2 8.57 9.08
ROA(%) 5.29 4.95 8.92 13.09 10.22 8.09 7.04 6.2 5.82 8.66 10.4
ROE(%) 16.06 13.77 19.84 22.93 20.14 18.36 15.66 13.63 11.27 13.28 14.86
ROCE(%) 12.68 14.54 22.89 25.73 29.27 23.11 18.94 19.63 14.44 17.71 20.09
Receivable days 67.85 67.75 67.44 65.77 77.68 88.21 88.73 93.21 92.48 72.27 68.52
Inventory Days 23.59 21.36 20.83 21.88 25.15 29.36 42.5 52.62 57.49 56.02 49.16
Payable days 93.62 92.09 111.28 131.89 143.25 152.3 172.98 194.75 161.9 104.45 64.01
PER(x) 6.01 15.98 11.7 23.29 20.68 13.01 8.03 19.33 17.47 14.54 13.68
Price/Book(x) 0.92 2.12 2.18 4.88 3.93 2.27 1.21 2.59 1.95 1.86 1.96
Dividend Yield(%) 5.74 2.15 2.63 1.46 1.66 2.58 4.88 3.15 3.27 3.97 4.21
EV/Net Sales(x) 0.47 0.74 0.73 1.76 1.54 0.93 0.54 1.33 0.89 0.8 0.83
EV/Core EBITDA(x) 4.24 6.46 5.67 10.53 9.27 6.39 3.59 7.87 7.96 7.42 7.05
Net Sales Growth(%) 2.04 8.41 7.69 3.95 3.47 6.55 -8.35 -10 19.27 18.45 10.36
EBIT Growth(%) 33.99 9.1 45.53 12.24 26.61 -9.72 -10.06 6.09 -26.85 28.65 22.03
PAT Growth(%) 89.12 -6.39 59.9 35.6 2.35 2.18 -6 -7.4 -14.87 23.61 20.38
EPS Growth(%) 89.12 -6.39 59.9 35.6 2.35 2.18 -6 -5.48 -14.65 23.61 20.38
Debt/Equity(x) 0.72 0.42 0.2 0.04 0.08 0.08 0.07 0 0 0 0
Current Ratio(x) 1.05 1.09 1.33 1.35 1.26 1.52 1.65 1.78 1.76 2.21 2.26
Quick Ratio(x) 0.89 0.94 1.03 1.01 1.1 1.17 1.15 1.31 1.09 1.36 1.43
Interest Cover(x) 3.18 4.42 11.88 55.74 344.06 127.44 2235 98.79 1734.5 892.6 1815.33
Total Debt/Mcap(x) 0.78 0.2 0.09 0.01 0.02 0.04 0.06 0 0 0 0

Rane Brake Lining Shareholding Pattern

# Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
Promoter 70.93 70.93 70.93 70.93 70.93 70.93 70.93 70.93 70.93 70.93
FII 0 0 0 0.08 0.34 0.01 0.09 0.13 0.06 0.04
DII 3.56 3.56 3.56 3.56 3.57 3.56 4.07 3.35 3.24 3.25
Public 25.52 25.52 25.52 25.44 25.16 25.51 24.92 25.59 25.77 25.78
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Rane Brake Lining News

Rane Brake Lining Pros & Cons

Pros

  • Debtor days have improved from 104.45 to 64.01days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 13% over the last 3 years.
  • The company has delivered a poor profit growth of 1% over past five years.
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