RANEHOLDIN
Rane Holdings share price & financials
- Price
- ₹1,729.2
- Market cap
- ₹2.4k Cr
- Sector
- Financial Services
- Calls analysed
- 4
Rane Holdings Limited Q4 FY26
What went well
- Rane Madras Q4 FY26 revenue increased by 16.2% YoY to INR1,051.7 crores, driven by strong industry performance across all major vehicle segments.
- Rane Madras secured new businesses worth INR712 crores in annualized sales for FY26, marking its highest-ever order win.
- Net debt for Rane Madras reduced by INR73.4 crores to INR705.8 crores, reflecting improved financial discipline.
What to watch
- Global geopolitical developments are causing significant commodity price volatility and supply chain uncertainties, which are being closely monitored.
- Uncertainty persists regarding the full impact and process of ZF warranty claims, with clarity expected in 3-6 months, and insurance covering only INR75 crores of the provision.
What Rane Holdings Limited does
Rane Holdings Limited is the promoter holding company of the Rane Group, an auto-component manufacturer headquartered in Chennai; it earns through its ownership stakes in operating subsidiaries and joint ventures rather than direct manufacturing. Its 63.80%-held subsidiary Rane (Madras) Limited makes steering and suspension linkages, light-metal castings, engine valves/tappets, and brake linings and clutch parts, while wholly-owned Rane Steering Systems Private Limited makes manual steering columns and electric power steering (EPS). Through 49%-held joint ventures with Germany's ZF Group — ZF Rane Automotive India and ZF Lifetec Rane Automotive India — the group also supplies hydraulic steering gear and pumps, seat belts, airbags and occupant-safety electronics. Group companies supply passenger vehicle, commercial vehicle, farm tractor, two/three-wheeler, railway and stationary-engine OEMs in India and overseas, plus the automotive aftermarket.
Segments
- Steering & Suspension Components
- Occupant Safety Products
- Brake Components
- Engine Components
- Light Metal Castings
- Group structure
- 2 controlled operating subsidiaries plus 2 joint ventures with Germany's ZF Group
- Geographic footprint
- Operating and holding entities across India, USA, Germany, Netherlands and Mexico
- Vehicle/industry segments served
- 7 — passenger vehicles, commercial vehicles, farm tractors, two-wheelers, three-wheelers, railways and stationary engines
- Key manufacturing subsidiary
- Rane (Madras) Limited, organised into 5 business verticals: steering & linkage, light metal castings, engine components, brake components and aftermarket products
- JV partner
- ZF Group (Germany) — partners in ZF Rane Automotive India and ZF Lifetec Rane Automotive India
Guidance record · Q4 FY26
what the last two calls moved 10 tracked 2 delivered 1 missed 7 open- Group Revenue Growth delivered said Q4 FY25 Promised: Aspiration to grow minimum 12% going up to 15% in the next three years Q4 FY26: RML revenue grew 16.2% YoY in Q4, continuing to meet the 12-15% growth aspiration.
- Total Debt Reduction Amount missed said Q4 FY25 Promised: INR 150-200 crore reduction in debt before the end of this financial year Q4 FY26: FY26 RML net debt reduced by only INR 73.4 cr, missing the INR 150-200 cr target. Land sale proceeds timeline further delayed.
- Rane Madras EBITDA Margin on track said Q4 FY25 Promised: Start doing a double-digit EBITDA... 12-13% when market improves Q4 FY26: Achieved 9.5% for FY26. Management reiterates target of double-digit in FY27, then 11-12%.
All 10 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 18.3%, net profit down 15.8% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 916 | 1,241 | 1,374 | 1,341 | 1,399 +53% | 1,535 +24% | 1,609 +17% | 1,587 +18% |
| EBITDA | 81 | 78 | 95 | 102 | 97 +20% | 42 −46% | 126 +33% | 107 +5% |
| Net profit | 185 | 4 | 12 | 57 | 31 −83% | -40 −1100% | 88 +633% | 48 −16% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +13.2% 1Y
1Y: ₹1,498.9 on 10 Sept 2025 → ₹1,696.2. High ₹1,872.6 (3 Aug 2026), low ₹992 (30 Mar 2026).
How the price took the results
close before → close after
- Q4 FY26
- +4.9%
- 18 May
- Q3 FY26
- −0.9%
- 17 Feb
- Q2 FY26
- −0.3%
- 18 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 31.4% a year over 3 years, FY23 to FY26. Operating margin narrowed to 6.2%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹2.6k Cr | ₹3.5k Cr | ₹4.4k Cr | ₹5.9k Cr |
| Operating profit | ₹206 Cr | ₹321 Cr | ₹327 Cr | ₹367 Cr |
| Operating margin | 7.9% | 9.1% | 7.5% | 6.2% |
| Interest | ₹34 Cr | ₹71 Cr | ₹85 Cr | ₹74 Cr |
| Depreciation | ₹103 Cr | ₹137 Cr | ₹167 Cr | ₹209 Cr |
| Net profit | ₹100 Cr | ₹149 Cr | ₹221 Cr | ₹136 Cr |
| Net margin | 3.9% | 4.2% | 5.1% | 2.3% |
| Cash from operations | ₹186 Cr | ₹233 Cr | ₹513 Cr | ₹280 Cr |
| Free cash flow | ₹29 Cr | ₹66 Cr | ₹321 Cr | ₹63 Cr |
| ROCE | 11.0% | 13.0% | 10.0% | 10.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹14 Cr |
| Reserves | ₹750 Cr | ₹762 Cr | ₹794 Cr | ₹892 Cr | ₹1.1k Cr | ₹1.1k Cr |
| Borrowings | ₹672 Cr | ₹788 Cr | ₹866 Cr | ₹853 Cr | ₹1.1k Cr | ₹1.0k Cr |
| Other liabilities | ₹834 Cr | ₹896 Cr | ₹914 Cr | ₹885 Cr | ₹1.5k Cr | ₹1.7k Cr |
| Total liabilities | ₹2.3k Cr | ₹2.5k Cr | ₹2.6k Cr | ₹2.6k Cr | ₹3.7k Cr | ₹3.8k Cr |
| Fixed assets | ₹801 Cr | ₹843 Cr | ₹866 Cr | ₹799 Cr | ₹1.2k Cr | ₹1.2k Cr |
| Capital work in progress | ₹34 Cr | ₹28 Cr | ₹38 Cr | ₹45 Cr | ₹105 Cr | ₹175 Cr |
| Investments | ₹379 Cr | ₹353 Cr | ₹345 Cr | ₹373 Cr | ₹356 Cr | ₹296 Cr |
| Other assets | ₹1.1k Cr | ₹1.2k Cr | ₹1.3k Cr | ₹1.4k Cr | ₹2.1k Cr | ₹2.2k Cr |
| Total assets | ₹2.3k Cr | ₹2.5k Cr | ₹2.6k Cr | ₹2.6k Cr | ₹3.7k Cr | ₹3.8k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs trimmed −0.44 pp while the public added +0.26 pp. The shareholder count shrank 4% to 15,390.
- Promoters
- 46.6%
- FIIs
- 0.9%
- DIIs
- 3.4%
- Public
- 49.0%
Since Jun 2025
- DIIs −0.44 pp
- Public +0.26 pp
- FIIs +0.11 pp
How it drifted, 12 quarters
Over this window the public fell from 51.0% to 49.0% — −2.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 46.6%, FIIs 0.4%, DIIs 2.0%, Public 51.0%.Dec '23: Promoters 46.6%, FIIs 0.4%, DIIs 1.7%, Public 51.3%.Mar '24: Promoters 46.6%, FIIs 0.4%, DIIs 1.6%, Public 51.4%.Jun '24: Promoters 46.6%, FIIs 0.5%, DIIs 1.8%, Public 51.2%.Sep '24: Promoters 46.5%, FIIs 0.9%, DIIs 3.1%, Public 49.4%.Dec '24: Promoters 46.5%, FIIs 0.8%, DIIs 3.8%, Public 48.8%.Mar '25: Promoters 46.5%, FIIs 0.8%, DIIs 3.8%, Public 48.8%.Jun '25: Promoters 46.5%, FIIs 0.8%, DIIs 3.8%, Public 48.8%.Sep '25: Promoters 46.5%, FIIs 1.1%, DIIs 4.0%, Public 48.4%.Dec '25: Promoters 46.5%, FIIs 0.8%, DIIs 4.1%, Public 48.5%.Mar '26: Promoters 46.6%, FIIs 0.8%, DIIs 4.1%, Public 48.5%.Jun '26: Promoters 46.6%, FIIs 0.9%, DIIs 3.4%, Public 49.0%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Ganesh L & Meenakshi Ganesh +0.18 pp 5.40% held
- Harish Lakshman +0.18 pp 1.40% held
The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Rane Holdings Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Raman T G G | 10.39% | unchanged |
| Ganesh L & Meenakshi Ganesh | 5.40% | +0.18 pp |
| LAKSHMAN L (including joint holding with Pushpa Lakshman) | 5.27% | unchanged |
| Geetha Raman Subramanyam | 4.38% | unchanged |
| Ranjini R Iyer | 4.38% | unchanged |
| Nisshinbo Holdings Inc. | 3.79% | unchanged |
| Rathika R Sundaresan | 3.65% | −0.36 pp |
| Enam Securities Pvt Ltd | 2.53% | unchanged |
| Meenakshi Ganesh & L Ganesh | 2.14% | unchanged |
| Vijaya S | 2.12% | unchanged |
| Vanaja Aghoram | 1.93% | unchanged |
| Bandhan Mutual Fund - Various Schemes Mutual fund | 1.73% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (4)
Read the Q4 FY26 call →Learn to analyse Rane Holdings Limited
Guides on how to read this kind of business and the numbers that matter.