Rane Madras

₹815 23.5 | 3%

WEBSITE BSE:532661 NSE : RANE MADRAS 10 May, 16:01

Market Cap ₹1326 Cr.

Stock P/E 439.1

P/B 5.2

Current Price ₹815

Book Value ₹ 157.4

Face Value 10

52W High ₹1020

Dividend Yield 0%

52W Low ₹ 473

Edit Ratio

Rane Madras Research see more...

Overview Inc. Year: 2004Industry: Auto Ancillary

Rane (Madras) Ltd manufactures and sells vehicle additives in India and internationally. It gives steering gears; guidance and suspension linkage merchandise; and high precision aluminium die castings. The enterprise markets and sells its products to the producers of passenger motors, software automobiles, and farm tractors. It also exports its merchandise. The organisation become based in 1960 and is centred in Chennai, India. Rane (Madras) Ltd is a subsidiary of Rane Holdings Ltd.

Rane Madras Share Price

New

Volume

Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

Quarterly Monthly

Show Value Show %

Peer Comparison

Rane Madras Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	438	505	549	600	583	622	588	611	521	518
Other Income	3	5	1	0	29	9	2	1	1	1
Total Income	441	510	550	601	613	630	590	612	522	519
Total Expenditure	426	479	520	567	540	566	546	579	474	493
Operating Profit	15	32	30	34	72	64	44	33	48	26
Interest	6	5	5	7	9	13	14	13	15	14
Depreciation	20	21	22	22	25	28	24	24	21	22
Exceptional Income / Expenses	10	0	0	0	-3	-9	-19	-85	0	-2
Profit Before Tax	-2	6	3	5	36	14	-13	-90	13	-12
Provision for Tax	3	8	7	5	12	4	1	-108	4	-2
Profit After Tax	-4	-3	-3	0	24	10	-14	18	9	-9
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	-4	-3	-3	0	24	10	-14	18	9	-9
Adjusted Earnings Per Share	-2.8	-1.6	-2	0	14.6	5.9	-8.9	10.9	5.6	-5.8

Rane Madras Profit & Loss

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	890	1195	1400	1555	1277	1267	1742	2354	2238
Other Income	2	11	9	10	17	7	6	18	5
Total Income	892	1207	1409	1565	1294	1274	1748	2372	2243
Total Expenditure	811	1107	1273	1438	1233	1236	1667	2171	2092
Operating Profit	80	100	136	127	62	38	80	201	151
Interest	19	30	34	35	38	28	21	35	56
Depreciation	41	57	61	66	66	66	81	97	91
Exceptional Income / Expenses	-3	0	0	0	-2	0	47	-12	-106
Profit Before Tax	17	13	40	26	-45	-55	26	58	-102
Provision for Tax	5	8	16	23	1	6	15	28	-105
Profit After Tax	13	4	24	2	-46	-61	11	30	4
Adjustments	0	0	0	0	0	0	0	0	0
Profit After Adjustments	13	4	24	2	-46	-61	11	30	4
Adjusted Earnings Per Share	11.5	4.1	20.9	2	-36.3	-42	6.6	18.5	1.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	35%	23%	11%	0%
Operating Profit CAGR	151%	48%	8%	0%
PAT CAGR	173%	0%	5%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	68%	33%	19%	15%
ROE Average	13%	-6%	-8%	-1%
ROCE Average	11%	4%	4%	7%

Rane Madras Balance Sheet

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	159	157	230	230	184	182	228	242
Minority's Interest	0	0	0	0	0	0	0	0
Borrowings	140	157	149	141	200	189	234	244
Other Non-Current Liabilities	60	18	30	66	41	48	57	67
Total Current Liabilities	387	459	510	525	501	621	725	826
Total Liabilities	746	791	920	963	926	1039	1245	1379
Fixed Assets	361	365	387	386	382	415	477	490
Other Non-Current Assets	82	69	77	103	151	142	124	125
Total Current Assets	303	357	456	473	393	482	643	764
Total Assets	746	791	920	963	926	1039	1245	1379

Rane Madras Cash Flow

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	2	2	6	7	18	18	5	10
Cash Flow from Operating Activities	31	88	65	45	69	46	-6	88
Cash Flow from Investing Activities	-74	-77	-78	-60	-103	-80	-124	-106
Cash Flow from Financing Activities	43	-7	14	26	34	21	134	35
Net Cash Inflow / Outflow	-0	4	1	11	0	-13	5	17
Closing Cash & Cash Equivalent	2	6	7	18	18	5	10	27

Rane Madras Ratios

#	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	11.52	4.11	20.86	2.02	-36.27	-41.96	6.55	18.45
CEPS(Rs)	50.98	58.5	73.77	57.12	16.22	3.42	56.34	77.82
DPS(Rs)	4.5	6	12	8.5	0	0	0	0
Book NAV/Share(Rs)	143.62	149.57	193.57	192.31	139.86	117.98	140.22	148.52
Core EBITDA Margin(%)	8.05	6.39	8.92	7.5	3.47	2.48	4.35	7.9
EBIT Margin(%)	3.75	3.09	5.23	3.9	-0.49	-2.19	2.69	4.01
Pre Tax Margin(%)	1.77	0.91	2.81	1.65	-3.49	-4.38	1.49	2.51
PAT Margin (%)	1.3	0.31	1.7	0.16	-3.56	-4.82	0.62	1.29
Cash Profit Margin (%)	5.5	4.44	6.01	4.4	1.59	0.39	5.34	5.45
ROA(%)	2.82	0.56	2.83	0.26	-4.82	-6.22	0.93	2.29
ROE(%)	13.79	2.8	12.68	1.06	-22.44	-35.2	5.33	12.78
ROCE(%)	12.19	8.48	13.48	9.83	-0.95	-4.29	6.38	10.94
Receivable days	36.94	46.15	55.52	57.69	62.4	66.37	66.44	60.82
Inventory Days	24.1	29.98	35.71	38.07	46.96	45.5	39.33	36.51
Payable days	64.8	93.37	95.01	82.75	96.49	123.53	110.23	87.69
PER(x)	26.04	119.87	40.07	177.75	0	0	53.69	22.05
Price/Book(x)	2.09	3.29	4.32	1.87	1.02	3.16	2.51	2.74
Dividend Yield(%)	1.5	1.22	1.44	2.37	0	0	0	0
EV/Net Sales(x)	0.73	0.73	0.94	0.53	0.49	0.79	0.65	0.55
EV/Core EBITDA(x)	8.13	8.75	9.71	6.55	10.23	26	14.12	6.41
Net Sales Growth(%)	406.53	34.29	17.14	11.06	-17.85	-0.76	37.44	35.16
EBIT Growth(%)	84.4	17.19	74.29	-18.61	-110.24	-347.67	265.94	102.08
PAT Growth(%)	1.92	-65.9	460.65	-90.01	-1980.99	-34.31	117.44	181.61
EPS Growth(%)	0	-64.33	407.53	-90.31	-1894.08	-15.69	115.61	181.61
Debt/Equity(x)	2.07	2.3	1.59	1.81	2.68	2.68	2.52	2.72
Current Ratio(x)	0.78	0.78	0.89	0.9	0.78	0.78	0.89	0.93
Quick Ratio(x)	0.52	0.5	0.59	0.57	0.47	0.52	0.6	0.62
Interest Cover(x)	1.9	1.42	2.17	1.73	-0.16	-1	2.24	2.68
Total Debt/Mcap(x)	1.05	0.7	0.37	0.97	2.63	0.85	1.01	0.99

Rane Madras Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	71.14	72.65	72.65	72.65	72.65	72.65	72.65	72.65	72.65	72.65
FII	0	0.03	0.04	0.03	0	0.12	0	0.01	0	0.01
DII	0	0	0	0	0	0	0.11	0.5	0.63	0.47
Public	28.86	27.32	27.31	27.33	27.35	27.24	27.24	26.85	26.73	26.87
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	1.1	1.18	1.18	1.18	1.18	1.18	1.18	1.18	1.18	1.18
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0.01	0.01	0.01
Public	0.44	0.44	0.44	0.44	0.44	0.44	0.44	0.44	0.43	0.44
Others	0	0	0	0	0	0	0	0	0	0
Total	1.54	1.63	1.63	1.63	1.63	1.63	1.63	1.63	1.63	1.63

Pros

Debtor days have improved from 110.23 to 87.69days.

Cons

Company has a low return on equity of -6% over the last 3 years.
Stock is trading at 5.2 times its book value.
The company has delivered a poor profit growth of 4% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.