Rane (Madras) Ltd Share Price Today

Actions	Ex-Date	Record-Date
DividendsFinal Dividend of 160% at ₹16/Share	29-Jul-2026	29-Jul-2026
DividendsFinal Dividend of 80% at ₹8/Share	29-Jul-2025	29-Jul-2025

AALGO BREATHS I SEBI RA

6 Sep • 2:43 PM · SEBI-Registered Analyst

Rane Holdings Limited Latest Updates With Fundamentals

RML

Q1 FY27 Financial Results & Revenue Growth On August 13, 2026, the Board of Directors of Rane Holdings Limited approved the unaudited consolidated financial results for the first quarter ended June 30, 2026 (Q1 FY27). Consolidated revenue from operations increased 18.35% year-on-year to ₹1,586.88 crore (total income stood at ₹1,596.87 crore, up 18.7% YoY). Consolidated net profit (PAT) contracted 16.0% YoY to ₹48.27 crore (with net profit attributable to owners declining 26.4% YoY to ₹37.40 crore), impacted by higher exceptional gains booked in the base quarter of FY26 and increased operating costs. Operating EBITDA expanded 9.8% YoY to ₹117.1 crore. Large Business Wins Across Operating Arms During the quarter, group operating entities secured fresh orders with an aggregate Lifetime Value (LTV) of ₹4,320 crore. Key contributors to this intake included Rane (Madras) Limited (RML) securing ₹2,040 crore (47% of total LTV), joint venture ZF LIFETEC Rane Automotive India winning ₹1,530 crore (35%), ZF Rane Automotive India adding ₹425 crore (10%), and Rane Steering Systems securing ₹325 crore (8%) Friction Business Asset Acquisition Pact In strategic portfolio consolidation, the group entered into a definitive Business Transfer Agreement to acquire the friction business of Hindustan Composites Limited on a slump sale basis for an agreed enterprise value of ₹370 crore. The acquisition expands Rane Group’s industrial and automotive friction product footprint, including brake linings, disc pads, and railway brake blocks. Group Consolidation & NCLT Merger Scheme The corporate simplification scheme to consolidate operating subsidiaries into a single flagship listed entity progressed under the NCLT-sanctioned framework. The scheme amalgamates Rane Brake Lining Limited (RBL) and Rane Engine Valve Limited (REVL) into Rane (Madras) Limited (RML). In the combined entity, apex holding company Rane Holdings Limited will retain a 63.8% controlling equity stake.

Adarsh Nimborkar (SEBI IA)

6 Sep • 10:26 AM · SEBI-Registered Analyst

Rane (Madras) Ltd – Company Fundamental Analysis

RML

Rane (Madras) is an established auto-component manufacturer supplying steering and suspension systems, friction materials, valve products and other components to major OEMs in India and overseas. The company has a diversified customer base across passenger vehicles, commercial vehicles, tractors and off-highway applications, while exports provide an additional growth avenue. Its positioning as a Tier-1 supplier gives it relatively strong customer relationships, although the business remains closely linked to automobile production cycles. FY26 was a strong improvement year, with consolidated revenue from operations rising to about ₹3,863 crore from ₹3,406 crore in FY25. Q4 FY26 revenue reached ₹1,047.9 crore, up 16.2% YoY, while EBITDA increased 20.1% to ₹99.4 crore and EBITDA margin improved to 9.5%. The momentum continued into Q1 FY27: revenue from operations grew 18.3% YoY to ₹1,041.6 crore, EBITDA rose 22% to ₹95.8 crore and PAT jumped 62.5% to ₹30.1 crore. The improvement in both revenue and margins is encouraging, although quarterly PAT remains relatively small compared with the company's large revenue base. The major positive is improving operating performance supported by stronger auto demand, export opportunities and new product/order wins. Rane secured around ₹2,040 crore of new orders during Q1 FY27, with 54% coming from exports, while its planned ₹370 crore acquisition of Hindustan Composites' friction business could strengthen its friction-material portfolio. The key risks are auto-sector cyclicality, raw-material costs, relatively modest margins and the execution/integration risk associated with acquisitions. Overall, Rane (Madras) currently looks like a turnaround and operating-leverage story rather than a consistently high-margin compounder; sustaining double-digit revenue growth and improving margins will be crucial for the investment thesis.

Shashank Gupta

21 Aug • 9:17 AM · SEBI-Registered Analyst

Rane (Madras) Completes Friction Business Acquisition, Strengthening Its Brake Components Portfolio

RML

Rane (Madras) has completed the acquisition of the friction business of Hindustan Composites on 20 August 2026, marking a strategic expansion of its presence in the automotive brake-components segment. The acquisition is important because it adds capabilities and product presence in friction materials, which are a key component of braking systems. According to the company's exchange disclosure, the transaction is expected to be EPS accretive from the first year, making the development more meaningful than an acquisition based purely on future potential. From a business perspective, the acquisition could help Rane (Madras) strengthen its product portfolio and potentially create cross-selling and manufacturing synergies within its existing automotive components business. The key advantage is that the acquired business is directly related to Rane's existing operations, which may reduce integration risk compared with diversification into an unrelated sector. However, the eventual value creation will depend on how efficiently the acquired business is integrated and whether the expected synergies translate into sustainable margins and earnings growth. Investors should monitor the acquired business's revenue contribution, profitability and the actual EPS impact over the next few quarters. Overall, this appears to be a strategically positive development, as Rane is expanding within its core automotive ecosystem while targeting an earnings-accretive transaction rather than pursuing growth through unrelated diversification.

Pyrifera Investment Advisors

15 Jul • 12:21 AM · SEBI-Registered Analyst

Route Mobile Subsidiary to Acquire AI-Led Omnichannel Business for ~₹33.6 Crore

Route Mobile Limited (RML) has approved the acquisition of the AI-led omnichannel business undertaking of Heltar Technologies Private Limited by its wholly-owned subsidiary, Route Connect Private Limited, via a slump sale. Key Transaction Details: Deal Value: Total consideration of ~₹33.65 crore, comprising an upfront payment of ₹23.88 crore at closing and a deferred payment of ₹9.77 crore payable 18 months post-closing. Scope: The slump sale includes all associated assets, liabilities, contracts, intellectual property, and employee rights on a going-concern basis. Timeline: Expected to be completed within approximately 6 weeks, subject to standard conditions precedent. Funding Mechanism: To facilitate the acquisition, RML has sanctioned an unsecured Inter-Corporate Deposit (ICD) facility of ₹35 crore to Route Connect. Terms: 9% per annum interest, repayable within 60 months, with RML retaining the right to convert the outstanding amount into equity shares of the subsidiary. Strategic Rationale: Heltar Technologies specializes in AI-first omnichannel customer engagement and conversational commerce (CpaaS). This acquisition will significantly enhance Route Mobile’s technological capabilities, allowing it to offer more advanced, AI-driven communication solutions to its global client base. Governance: While the ICD to a wholly-owned subsidiary qualifies as a Related Party Transaction (RPT), it is exempted under Section 186 of the Companies Act, 2013, and is confirmed to be executed on an arm’s-length basis. Outlook: This strategic carve-out acquisition aligns perfectly with Route Mobile’s roadmap to deepen its footprint in the high-growth AI and conversational AI market, strengthening its competitive edge in the global CpaaS landscape.

ROUTE

AASHISH RA

21 Jun • 11:32 AM · SEBI-Registered Analyst

Rane (Madras) Ltd (RML) – SWOT Analysis

RML

Strengths Strong OEM customer base Supplies components to domestic and global automobile manufacturers. Long relationship with auto majors gives business stability. Diversified product portfolio Presence in steering systems, linkages, castings, engine and brake-related components reduces dependence on one product line. Rane Group brand advantage Decades of engineering experience and reputation in auto components. Growth opportunity from vehicle trends Passenger vehicles, commercial vehicles, exports and higher safety requirements can support demand. ⚠️ Weaknesses Automobile cycle dependency Revenue depends heavily on vehicle production cycles and OEM demand. Margin pressure Auto component business faces raw material cost fluctuations and pricing pressure from OEM customers. Debt/capital intensity Manufacturing expansion requires continuous investment. Past integration challenges Merger of businesses requires execution and synergy benefits to reflect in numbers. 🚀 Opportunities EV & new mobility growth EV platforms require advanced steering, lightweight components and safety products. Export expansion Global OEM supply opportunities can increase revenue diversification. Aftermarket business growth Combined aftermarket focus may improve distribution strength. Premium vehicle demand Higher content per vehicle can improve long-term opportunity. 🔴 Threats EV disruption Traditional engine-related components may face long-term pressure. Competition Indian and global auto component companies compete aggressively. Raw material volatility Steel, aluminium and other input cost movements affect margins. Quality/warranty risk Auto safety components carry high reputation and liability risk. 📊 Investment View (Research Framework) Positive Factors: ✅ Strong Rane Group background

Adarsh Nimborkar (SEBI IA)

7 May • 8:14 AM · SEBI-Registered Analyst

Rane Madras Fundamentals Overview

RML

Rane Madras operates in the auto components sector, mainly manufacturing steering and suspension systems for passenger vehicles, commercial vehicles, and tractors. The business benefits from long term relationships with OEMs, but it is also highly dependent on the automobile cycle and production volumes Revenue scale is moderate with annual revenue around 2000 to 2200 crore. Growth has been inconsistent over the years, with periods of slowdown due to weak automobile demand and cyclical industry conditions. Recent growth has improved but is not exceptionally strong Profitability is weak. Net margins are very low, generally around 1 to 3 percent, which indicates limited pricing power and high operating sensitivity to raw material costs and demand fluctuations. Profit growth has also been volatile with multiple weak periods Return ratios are below average. Return on equity and return on capital employed are mostly in single digits, showing moderate to weak capital efficiency and limited shareholder value creation Debt levels are manageable but not negligible. Debt to equity is moderate, and interest costs are under control, but the business does not generate very high margins to comfortably absorb long downturns One positive is the company’s established position with major automobile manufacturers and strong technical capabilities in steering systems. This gives business continuity and stable demand over the long term However, dependence on the auto cycle is a major risk. Valuation is not very attractive considering the fundamentals. The stock trades at moderate to high valuation levels despite weak margins and average return ratios, which limits margin of safety Overall, fundamentals are average to weak. The business has stable industry positioning and OEM relationships, but low margins, cyclical exposure, and weak return ratios reduce overall quality.

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