Rane Brake Lining Ltd - Stock Valuation and Financial Performance

BSE: 532987 | NSE: RBL | Auto Ancillary | Small Cap

Rane Brake Lining Share Price

714.25 -13.60 -1.87%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Rane Brake Lining

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Rane Brake Lining stock performance -

mw4me loader
P/E Ratio (SA):
15.24
Market Cap:
562.6 Cr.
52-wk low:
585
52-wk high:
944.6

Is Rane Brake Lining Ltd an attractive stock to invest in?

1. Is Rane Brake Lining Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Rane Brake Lining Ltd is a good quality company.

2. Is Rane Brake Lining Ltd undervalued or overvalued?

The key valuation ratios of Rane Brake Lining Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Rane Brake Lining Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Rane Brake Lining Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Rane Brake Lining:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Rane Brake Lining Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 11.7%11.1%16.6%27.1%19.8%17.6%14.6%13.6%11.6%13.5%-
Value Creation
Index
-0.2-0.20.20.90.40.30.00.0-0.20.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 384416448466482514471424506599639
Sales YoY Gr.-8.4%7.7%3.9%3.5%6.6%-8.4%-10%19.3%18.5%-
Adj EPS 21.720.332.657.146.847.643.541.835.94447.8
YoY Gr.--6.5%60.2%75.5%-18.1%1.7%-8.6%-3.8%-14.1%22.4%-
BVPS (₹) 141.9153.9174.4210.8237.9265.2289.3306.7314.2337.9344.8
Adj Net
Profit
17.216.125.845.237.137.734.432.427.83437
Cash Flow from Ops. 29.445.352.261.648.544.373.446.411.449.3-
Debt/CF from Ops. 2.71.10.50.10.30.40.2000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 5.1%4.4%8.3%18.5%
Adj EPS 8.1%-1.2%0.4%22.4%
BVPS10.1%7.3%5.3%7.6%
Share Price 18.1% 3.4% -2.5% 21.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
16.113.819.929.720.918.915.713.911.613.514
Op. Profit
Mgn %
10.510.912.115.715.613.312.9148.89.510.5
Net Profit
Mgn %
4.53.95.89.77.77.37.37.75.55.75.8
Debt to
Equity
0.70.40.200.10.10.1000-
Working Cap
Days
15615312510015821625028121514065
Cash Conv.
Cycle
4140321119293737516334

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 14.00%

Sales growth has been subdued in last 3 years 8.33%

Net Profit has been subdued in last 3 years 0.37%

Sales growth is not so good in last 4 quarters at 8.81%

Latest Financials - Rane Brake Lining Ltd.

Standalone Consolidated
TTM EPS (₹) 47.8 -
TTM Sales (₹ Cr.) 639 -
BVPS (₹.) 344.8 -
Reserves (₹ Cr.) 259 -
P/BV 2.11 -
PE 15.24 -
From the Market
52 Week Low / High (₹) 585.00 / 944.60
All Time Low / High (₹) 34.20 / 1447.00
Market Cap (₹ Cr.) 563
Equity (₹ Cr.) 7.7
Face Value (₹) 10
Industry PE 46

Management X-Ray of Rane Brake Lining:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Rane Brake Lining

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales384416448466482514471424506599
Operating Expenses 344371394393407446410365461542
Manufacturing Costs53555862606566615767
Material Costs187196199214224243216194269330
Employee Cost 52617067667577657984
Other Costs 52596750576352465762
Operating Profit 40455473756861594456
Operating Profit Margin (%) 10.5%10.9%12.1%15.7%15.6%13.2%12.9%13.8%8.7%9.4%
Other Income 2234571013138
Interest 8631000000
Depreciation 18211920242426242120
Exceptional Items 000-15-2-100-10
Profit Before Tax 17213543554945473545
Tax 0410819131015811
Profit After Tax 17162635363734322733
PAT Margin (%) 4.5%3.9%5.7%7.5%7.4%7.1%7.3%7.5%5.4%5.6%
Adjusted EPS (₹)21.820.432.644.245.246.243.441.035.043.3
Dividend Payout Ratio (%)34%34%31%34%34%34%39%61%57%58%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 112122138167188210229238243261
Share Capital 8888888888
Reserves 104114130159180202221230235253
Minority Interest0000000000
Debt6235216000000
Long Term Debt271150000000
Short Term Debt3424176000000
Trade Payables48517085911119311412564
Others Liabilities 10711426201421601721803149
Total Liabilities 329321256278422481494531399374

Fixed Assets

Gross Block286290284140156185225234252276
Accumulated Depreciation15317318020426692117138157
Net Fixed Assets133117104121114118133118114118
CWIP 0120420234
Investments 00000111124
Inventories282731363651636510191
Trade Receivables86899910012114097130137110
Cash Equivalents 312110143850217
Others Assets788617191381551621672120
Total Assets 329321256278422481494531399374

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 29455262494473461149
PBT 17213543554945473545
Adjustment 25262223232424202214
Changes in Working Capital -11356-9-1114-8-364
Tax Paid -2-5-10-10-20-18-9-13-10-13
Cash Flow From Investing Activity -10-5-8-34-19-25-35-10-18-48
Capex -10-5-80-20-26-38-12-18-26
Net Investments 000-350-100-1-23
Others 0001123211
Cash Flow From Financing Activity -17-43-44-28-21-15-15-24-22-16
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -14-16-130000000
Interest Paid -7-6-4-1000000
Dividend Paid -2-7-16-6-15-15-14-9-19-15
Others 6-14-11-21-600-15-20
Net Cash Flow 2-21-1842412-28-14
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)16.0613.7719.8422.9320.1418.3615.6613.6311.2713.28
ROCE (%)12.6814.5422.8925.7329.2723.1118.9419.6314.4417.71
Asset Turnover Ratio1.331.451.762.081.481.210.871.131.61
PAT to CFO Conversion(x)1.712.8121.771.361.192.151.440.411.48
Working Capital Days
Receivable Days68686766788889939272
Inventory Days24212122252943535756
Payable Days9492111132143152173195162104

Rane Brake Lining Ltd Stock News

Rane Brake Lining Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Rane Brake Lining on 28-Mar-2024 16:01 is ₹714.2.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Rane Brake Lining stood at ₹562.6.
The latest P/E ratio of Rane Brake Lining as of 28-Mar-2024 16:01 is 15.24.
The latest P/B ratio of Rane Brake Lining as of 28-Mar-2024 16:01 is 2.11.
The 52-week high of Rane Brake Lining is ₹944.6 and the 52-week low is ₹585.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Rane Brake Lining is ₹639.5 ( Cr.) .

About Rane Brake Lining Ltd

Rane Brake Lining, a Rane Group company, was established in 1964 in technical and financial collaboration with Nisshinbo Industries, Japan for manufacturing asbestos-free Brake Linings, Disc Pads and Clutch Facings, having application in every segment of the automobile industry.

The company is a market leader in India .Exporting to more than 15 countries .Research and development is prime thrust area .Dedicated facility for new product development for critical applications including aerospace.

Rane group established in the year 1929 as a trading house and serves a variety of industry segments: Passenger Cars, Multi Utility Vehicles, Light Commercial Vehicles, Medium & Heavy Commercial Vehicles, Farm Tractors, Three-wheelers, Two-wheelers and Stationary Engines through one of its holding company & 7 manufacturing companies.

The products of the company are consistently updated in tune with evolving customer demands .Green Material Policy is evolved to ensure products meet stringent  eco norms .Design centre has Computer Aided Design (CAD) and sophisticated test equipment like full-scale inertia dynamometer, thermo gravimetric analyser, pyrolysis gas chromatograph etc.

The complete spectrums of products from RBL are manufactured in 4 plants located at Chennai, Hyderabad and Puducherry and Trichy. Products are routed through stringent quality norms to match expectations. The plant at Puducherry is anexclusive Asbestos Free Facility.

Chennai plant Automotive products: Brake linings, disc pads and clutch facings. Railway products: Railway brake blocks.  

Hyderabad plant Automotive products: Brake linings & clutch facings.Railway products: Railway brake blocks.  

Puducherry plant Automotive products: Brake linings disc pads & cord woven clutch facings. Railway products: Railway brake blocks.  

Trichy plant Automotive products: Disc pads.

Products manufactured by the company include:

  • Brake Linings  
  • Disc Pads  
  • Clutch Facings  
  • Rail Brake Blocks 
  • CV Brake Pads   
  • Sintered Brake Pads

Achievements/ recognition:

Accredited with ISO 9001:2000, TS 16949 and ISO 14001:2000 certifications.

Deming Application Prize winner in the year 2003.

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