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Rane Brake Lining Ltd. Stock Analysis

Small Cap
Evaluated by 478 users | BSE: 532987 | NSE: RBL |
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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...

Analysis of Financial Track Record

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.
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 13.5%12.62%7.6%11.73%11.09%16.58%27.09%19.76%17.64%14.58%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 306359376384416448466482514471
Y-o-Y Gr. Rt.-17.4%4.8%2%8.4%7.7%3.9%3.5%6.6%-8.4%
Adjusted EPS (Rs.) 19.2720.4511.4321.7320.3232.5657.1446.847.5843.47
Y-o-Y Gr. Rt.-6.1%-44.1%90.1%-6.5%60.2%75.5%-18.1%1.7%-8.6%
Book Value per Share (Rs.) 109.79122.11128.96141.92153.86174.37210.83237.94265.2289.28
Adjusted Net Profit 15.316.2917.216.125.845.237.137.734.4
Net Op. Cash Flow (Rs. Cr.) 16.330.83329.445.352.261.648.544.373.4
Debt to Cash Flow from Ops 3.952.732.722.741.140.520.10.310.380.23
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Rane Brake Lining Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 4.9%2.5%0.4%-8.4%
Adjusted EPS 9.5%16.4%-8.7%-8.6%
Book Value per Share 11.413.511.19.1
Share Price 21.4% 15.5% -18.7% 24.4%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 18.7217.659.1116.0513.7519.8529.6920.8718.9215.69
Operating Profit Margin (%) 11.1210.978.7210.4710.9212.1415.7115.613.3312.87
Net Profit Margin (%) 4.994.512.44.483.865.759.77.687.337.3
Debt to Equity 0.740.870.880.720.420.20.040.080.080.07
Working Capital Days 117124151156153125100158216250
Cash Conversion Cycle 50503741403211192937
Entity Percentage Holding
Promoters 66.99%
Institutions 9.52%
Non-Institutions 23.48%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Rane Brake Lining Ltd.'s performance infers:

Rane Brake Lining Ltd. earnings have grown by 16.4%, whereas share price has appreciated 15.5% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Rane Brake Lining Ltd. share prices over the last 10 years. Here is what we found out:

Rane Brake Lining Ltd. share price has appreciated 16% annually over the past ten years.

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

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.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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