RML

Rane (Madras) share price & financials

Price
₹1,179.2
Market cap
₹3.8k Cr
Sector
Automobile and Auto Components
Calls analysed
1
Latest concall · Q1 FY26 · call held 13 Aug 2025

Rane (Madras) Q1 FY26

Revenue ₹884.4 cr +7%EBITDA Margin 8.9%

What went well

  • Total revenue increased by 7.4% YoY to INR 884.4 crores from INR 823.8 crores.
  • EBITDA margin improved by 30 bps, reaching 8.9% from 8.6%.
  • Secured INR 800 crores of new business wins in the quarter, positioning for future growth.

What to watch

  • Demand softened towards the close of the quarter, leading to subdued overall growth across vehicle categories.
  • Passenger Car segment saw a noticeable slowdown, and the 2-wheeler segment experienced muted growth due to OEM inventory correction.
Read the full call →

What Rane (Madras) Limited does

Rane (Madras) Limited manufactures safety-critical automotive components — steering and suspension systems, brake components, engine components, light metal castings, and aftermarket parts — supplied to passenger vehicle, commercial vehicle, tractor, two-wheeler/three-wheeler and off-highway vehicle OEMs in India and internationally. Following the April 2025 amalgamation of Rane Engine Valve Limited and Rane Brake Lining Limited into the company, it now operates through five focused businesses, each aligned to specific product groups and customer segments. It also operates ZF Rane Automotive India Private Limited, a joint venture that manufactures occupant safety systems and steering gears. The company is a subsidiary of Rane Holdings Limited.

Segments

  • Steering & Linkages Business
  • Brake Components Business
  • Engine Components Business
  • Light Metal Castings Business
  • Aftermarket Products Business
Manufacturing plants
17 (16 in India, 1 in Mexico)
Countries served
30+
Operating businesses
5 focused businesses — Steering & Linkages, Brake Components, Engine Components, Light Metal Castings, Aftermarket Products
Manufacturing footprint (India)
Chennai, Puducherry, Trichy, Tumakuru, Mysore, Sanand, Rudrapur, Hyderabad
Vehicle segments served
Passenger Vehicles, Commercial Vehicles, Tractors, Off-Highway Vehicles, 2-Wheelers/3-Wheelers
R&D and testing infrastructure
State-of-the-art R&D centers and test facilities
Headquarters Chennai, Tamil Nadu, India Company website

Guidance record · Q1 FY26

what the last two calls moved 7 tracked 0 delivered 0 missed 7 open
  • Occupant Safety Revenue Growth open said Q1 FY26 Promised: 15% to 20% growth rate continuing over the next 3, 4 years Q1 FY26: Segment grew 28% in Q1 FY26; guidance set for next 3-4 years.

All 7 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 18.3%, net profit up 68.4% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue849 837 902 881 920 +8%1,015 +21%1,048 +16%1,042 +18%
EBITDA74 68 80 76 79 +7%92 +35%98 +23%88 +16%
Net profit20 3 9 19 23 +15%33 +1000%37 +311%32 +68%
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 +59.1% 1Y

₹0.6k₹0.8k₹1.0k₹1.2k₹1.4kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹854.65 on 10 Sept 2025 → ₹1,360. High ₹1,408.9 (10 Sept 2026), low ₹620 (30 Mar 2026).

Financials, as filed

Revenue grew 18.0% a year over 3 years, FY23 to FY26. Operating margin widened to 8.9%.

Year endingFY23FY24FY25FY26
Revenue₹2.4k Cr₹2.5k Cr₹3.4k Cr₹3.9k Cr
Operating profit₹160 Cr₹223 Cr₹291 Cr₹345 Cr
Operating margin6.8%9.0%8.5%8.9%
Interest₹34 Cr₹53 Cr₹72 Cr₹57 Cr
Depreciation₹97 Cr₹92 Cr₹130 Cr₹145 Cr
Net profit₹31 Cr₹35 Cr₹51 Cr₹112 Cr
Net margin1.3%1.4%1.5%2.9%
Cash from operations₹130 Cr₹201 Cr₹339 Cr₹221 Cr
Free cash flow₹32 Cr₹23 Cr₹183 Cr₹88 Cr
ROCE19.0%17.0%12.0%14.0%
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 endingFY21FY22FY23FY24FY25FY26
Equity capital₹15 Cr₹16 Cr₹16 Cr₹16 Cr₹28 Cr₹28 Cr
Reserves₹294 Cr₹359 Cr₹231 Cr₹241 Cr₹652 Cr₹746 Cr
Borrowings₹313 Cr₹453 Cr₹531 Cr₹770 Cr₹832 Cr₹730 Cr
Other liabilities₹325 Cr₹366 Cr₹400 Cr₹448 Cr₹898 Cr₹1.0k Cr
Total liabilities₹946 Cr₹1.2k Cr₹1.2k Cr₹1.5k Cr₹2.4k Cr₹2.5k Cr
Fixed assets₹316 Cr₹368 Cr₹393 Cr₹448 Cr₹680 Cr₹720 Cr
Capital work in progress₹15 Cr₹16 Cr₹16 Cr₹36 Cr₹97 Cr₹69 Cr
Investments₹107 Cr₹174 Cr₹40 Cr₹2 Cr₹7 Cr₹58 Cr
Other assets₹507 Cr₹636 Cr₹729 Cr₹989 Cr₹1.6k Cr₹1.7k Cr
Total assets₹946 Cr₹1.2k Cr₹1.2k Cr₹1.5k Cr₹2.4k Cr₹2.5k 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, FIIs added +0.30 pp while DIIs trimmed −0.25 pp. The shareholder count shrank 14% to 28,932.

Promoters
70.5%
FIIs
0.3%
DIIs
0.8%
Public
28.4%

Since Jun 2025

  • FIIs +0.30 pp
  • DIIs −0.25 pp
  • Public −0.05 pp

How it drifted, 12 quarters

Over this window promoters fell from 72.7% to 70.5% — −2.2 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 72.7%, FIIs 0.0%, DIIs 0.5%, Public 26.9%.Dec '23: Promoters 72.7%, DIIs 0.6%, Public 26.7%.Mar '24: Promoters 72.7%, FIIs 0.0%, DIIs 0.5%, Public 26.9%.Jun '24: Promoters 72.7%, FIIs 0.0%, Public 27.4%.Sep '24: Promoters 72.7%, FIIs 0.2%, DIIs 0.1%, Public 27.0%.Dec '24: Promoters 72.7%, FIIs 0.1%, DIIs 0.1%, Public 27.1%.Mar '25: Promoters 72.7%, FIIs 0.1%, DIIs 0.1%, Public 27.1%.Jun '25: Promoters 70.5%, FIIs 0.0%, DIIs 1.0%, Public 28.5%.Sep '25: Promoters 70.5%, FIIs 0.0%, DIIs 1.0%, Public 28.5%.Dec '25: Promoters 70.5%, FIIs 0.1%, DIIs 1.0%, Public 28.5%.Mar '26: Promoters 70.5%, FIIs 0.1%, DIIs 1.0%, Public 28.5%.Jun '26: Promoters 70.5%, FIIs 0.3%, DIIs 0.8%, Public 28.4%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Rane (Madras) Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Rane Holdings Ltd 63.80%unchanged
Nisshinbo Holdings Inc. 6.06%unchanged
Raman T G G 0.10%unchanged
Shanthi Narayan 0.09%unchanged
Rekha Sundar 0.08%unchanged
Rathika R Sundaresan 0.07%unchanged
Narayanaswamy Sundaresan 0.05%unchanged
Geetha Raman Subramanyam 0.04%unchanged
Ranjini R Iyer 0.04%unchanged
Aditya Ganesh 0.03%unchanged
Aparna Ganesh 0.03%unchanged
Vanaja Aghoram 0.02%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.

Learn to analyse Rane (Madras) Limited

Guides on how to read this kind of business and the numbers that matter.