The Chennai-based Rane Group is betting big on its arm Rane Engine Valve, which accounts for about 19% of its top line. The group is doubling its capex spend for the engine valve maker in fiscal 2012. The capex for Rane Engine Valve will be Rs 48.6 crore in fiscal 2012, compared to Rs 24 crore in fiscal 2011. This would be the highest percentage increase in capex for any Rane group company this year. Rane Engine Valve posted revenues of Rs 310.2 crore in fiscal 2011, helping the compounded annual growth rate for the last three years to 13.66%. The return on capital employed was 11.63%, which it expects to rise to 20% in the next three years.
Considering the diversified presence in the domestic market and a good customer base in exports, the company (Rane Engine Valve) is targeting a compounded annual growth rate of 15% in the next three years. Rane Engine Valve would focus on product rationalization, capacity increase, besides mitigating foreign currency risks. Rane Engine Valve Limited has five manufacturing facilities - three in Tamil Nadu and two in Andhra Pradesh
Company Name | CMP |
---|---|
SamvardhanaMotherson | 130.00 |
TVS Holdings | 10750.00 |
Bosch | 30859.00 |
UNO Minda | 749.50 |
Varroc Engineering | 596.50 |
View more.. |