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Rane (Madras) Ltd (RML)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532661 NSE: RML Auto Ancillary | Small Cap | Rane (Madras) Share Price

₹1,341.50 18.00 (1.36%)

As on 21-Sep'26 16:59

Rane (Madras) Ltd (RML)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532661 NSE: RML Auto Ancillary | Small Cap | Rane (Madras) Share Price

₹1,341.50 18.00 (1.36%)

As on 21-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹3,658 Cr.
Current Price
₹1,341.5
52-Week Low / High
₹613 / 1,439
TTM EPS
₹43.1
TTM Sales
₹4,024 Cr.
Book Value per Share
₹282.5
P/E Ratio
30.72
Higher than its 5-year historical median
Industry PE
49.2
Price to Book (P/B)
4.69
Higher than its 5-year historical median
Price to Sales (P/S)
0.91
Higher than its 5-year historical median
EV/EBITDA
11.38
Higher than its 5-year historical median
Dividend Yield
1.19%
Profitability Efficiency
Return on Equity (ROE)
15.24%
Outperforms industry median
Return on Capital Employed (ROCE)
14.64%
Outperforms industry median
Return on Assets (ROA)
4.64%
Operating Profit Margin
8.8%
Net Profit Margin
2.78%
Gross Profit Margin
7.5%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
13.43%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
20.23%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
185.47%
Asset Quality
Promoter Holding
70.45%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹753 Cr.
Equity
₹27.6 Cr.
Face Value
₹10
All Time Low / High
₹24.90 / 1525.75

Rane (Madras) stock performance

Key Ratios
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Check Before You Invest

Quality

Not Good
Check detailed performance

Valuation

Somewhat Overvalued

Check Valuation charts

Price Trend

Strong
Check Price chart
Q.1 Is Rane (Madras) Ltd a good quality company?
Rane (Madras) Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

View More

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

View More
How does Rane (Madras) Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Rane (Madras) Ltd vs industry peers?
Rane (Madras) Ltd revenue CAGR is 24.97%, compared to the industry median CAGR of 0.79%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Rane (Madras) Ltd?
Promoters hold 70.45% of the Rane (Madras) Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Rane (Madras) Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 9.4% based on the current price.
View More

10 Year X-Ray :

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 (Madras) Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ12%18%17%1.4%-3.3%10.2%-8.7%-4.6%13.5%14.6%-
Value Creation
Index ⓘ		-0.20.30.2-0.9-1.2-0.3-1.6-1.30.00.0-

Growth Parameters ⓘ
Sales ⓘ9891,2141,3701,1011,1471,5552,1242,1423,4063,8634,024
Sales YoY Gr.-22.7%12.9%-19.7%4.2%35.6%36.6%0.9%59%13.4%-
Adj EPS ⓘ22.434.740.2-5.7-4.222.415.677.140.741.645.2
YoY Gr.-55%15.8%-114.2%NANA-30.4%394.2%-47.2%2.2%-
BVPS (₹) ⓘ162.7225.2260233.2204.7230.4151.9160.6416.3279.7291.4
Adj Net
Profit ⓘ		23.640.348.2-7.2-6.236.525.412566.2115125
Cash Flow from Ops. ⓘ89.573.370.511610729.4130130339221-
Debt/CF from Ops. ⓘ3.33.74.53.12.915.24.15.42.22.9-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ16.3%27.5%22.1%13.4%
Adj EPS ⓘ7.1%NA38.7%2.2%
BVPSⓘ6.2%6.4%22.6%-32.8%
Share Price 9.6% 27.8% 16.4% 58.7%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		14.218.416.7-2.3-210.78.249.313.915.715.8
Op. Profit
Mgn % ⓘ		10.111.110.577.98.210.29.2998.9
Net Profit
Mgn % ⓘ		2.43.33.5-0.7-0.52.31.25.91.933.1
Debt to
Equity ⓘ		1.7111.211.22.12.71.10.8-
Working Cap
Days ⓘ		10611713416014913311812611113565
Cash Conv.
Cycle ⓘ		20324656363437444559-8

Valuation of Rane (Madras) - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

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 (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales1,1951,4001,5551,2771,2671,7422,3542,2393,4063,863
Operating Expenses ⓘ + 1,1071,2731,4381,2331,2361,6672,1712,0923,1223,522
Manufacturing Costs195229247213220289354353580612
Material Costs6107388647017141,0151,3871,3041,8192,123
Employee Cost 203219230234220262290251470518
Other Costs ⓘ 9986968582101140184253269
Operating Profit ⓘ 88127117443175184147284341
Operating Profit Margin (%) 7.4%9.1%7.5%3.5%2.5%4.3%7.8%6.6%8.3%8.8%
Other Income ⓘ + 1191017761851616
Exceptional Items ⓘ 000-2047-12-106-13-3
Interest ⓘ 30343538282135577660
Depreciation ⓘ 5761666666819791132147
Profit Before Tax ⓘ 134026-45-552658-10378146
Tax ⓘ 81623161528-1064038
Profit After Tax 4242-46-611130338107
PAT Margin (%) 0.4%1.7%0.2%-3.6%-4.8%0.6%1.3%0.1%1.1%2.8%
Adjusted EPS (₹)4.120.92.0-36.3-42.06.618.51.923.138.9
Dividend Payout Ratio (%)146%57.50%420.40%0%0%0%0%0%34.60%41.20%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 157225230176172228242256660751
Share Capital ⓘ 11121213151616161628
Reserves ⓘ 147213218163157212225240643723
Debt +338336364397362507569601642587
Long Term Debt15714914120018923424426221748
Short Term Debt180187223197173273325338425538
Minority Interest0000000000
Trade Payables197256216189294319347285498551
Others Liabilities ⓘ 100103152164212190221117370570
Total Liabilities ⓘ 7919209639261,0391,2451,3791,2592,1702,458

Fixed Assets

Net Fixed Assets ⓘ +365387386382415477490453693739
Gross Block4225055726397218659899081,6491,829
Accumulated Depreciation571181862573073884994559561,090
CWIP ⓘ 28161650311829277395
Investments ⓘ 0011111278
Inventories126153172157159211254241434497
Trade Receivables188246246191270355420339709796
Cash Equivalents 67181971229243547
Others Assets ⓘ 78112125127156169157173219276
Total Assets ⓘ 7919209639261,0391,2451,3791,2592,1702,458
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 8865456946-688120316219
PBT ⓘ 134026-45-552658-10378146
Adjustment ⓘ 928997858485124246223200
Changes in Working Capital ⓘ -13-51-573727-101-60214-79
Tax Paid ⓘ -4-13-21-8-9-15-35-251-48
Cash Flow From Investing Activity ⓘ + -77-78-60-103-80-124-106-119-14711
Capex -78-78-60-103-80-100-107-136-15710
Net Investments 00-100-240-04-1
Others ⓘ 11000011761
Cash Flow From Financing Activity ⓘ + -71426342113435-14-176-207
Net Proceeds from Shares ⓘ 060201753300000
Net Proceeds from Borrowing ⓘ -5-122480-211052129-83-239
Interest Paid ⓘ -30-34-33-35-22-25-32-53-74-56
Dividend Paid ⓘ -2-9-13-50000-27-22
Others ⓘ 301029-23112447118111
Net Cash Flow ⓘ 41110-13517-13-723
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)2.812.681.06-22.44-35.25.3312.781.218.2315.24
ROCE (%)8.4813.489.83-0.95-4.296.3810.94-4.8912.8914.64
Asset Turnover Ratio1.81.671.651.351.291.51.821.722.021.7
PAT to CFO Conversion(x)222.7122.5N/AN/A-0.552.93408.322.05
Working Capital Days
Receivable Days46.2055.5057.7062.4066.4066.4059.3061.1055.2069.70
Inventory Days3035.7038.104745.5039.3035.6039.8035.5043.10
Payable Days93.409582.8096.50123.50110.2087.7088.5078.6090.20

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Rane (Madras) Ltd FAQs

The current trading price of Rane (Madras) on 21-Sep-2026 16:59 is ₹1,341.5.

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 20-Sep-2026 the market cap of Rane (Madras) stood at ₹3,657.8 Cr

The latest P/E ratio of Rane (Madras) as of 20-Sep-2026 is 29.29.

The latest P/B ratio of Rane (Madras) as of 20-Sep-2026 is 4.54.

The 52-week high of Rane (Madras) is ₹1,439.5 and the 52-week low is ₹612.5.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Rane (Madras) is ₹4,024 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Rane (Madras) Ltd is a below average quality company.

The key valuation ratios of Rane (Madras) Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Rane (Madras) Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Rane (Madras) Ltd

Rane (Madras) Ltd. started with the inception of manufacturing facilities in the year 1960.The company is the manufacturer of steering & suspension systems for every segment of automobile industry, viz Passenger cars, Multi utility vehicles, Light commercial vehicles, Heavy commercial vehicles and Farm tractors. Best in class manufacturing facilities.

It has got Strategic Technical partnerships with M/s TRW Inc, USA for Steering Gear  Products & TRW Ehrenreich GmbH & Co., Germany for Steering Linkage Products Holds major market share in India both in Manual steering gear systems & suspension systems.

The production plants of the company at Chennai (2 plants), Mysore, Puducherry each address a specific industry segment. Independent manufacturing cells produce specialised high end components.

  • Chennai plant - Light Commercial vehicle, Heavy Commercial vehicle and Utility vehicles segments.
  • Mysore plant - Tractor and Commercial vehicle segments.
  • Puducherry plant - Passenger car segments.
  • Varanavasi (Chennai) plant - Exports market. 
  • Uttarakhand plant - Caters specifically to the customers in the North of India.

Product range of the company includes:

Manual Steering Gears  

  • Re - circulating ball type
  • Rack and Pinion 

Steering Linkages 

  • Tie rod assemblies  
  • Drag link assemblies  
  • Centre link assemblies  
  • Gear shift ball joints  

Suspension Linkages 

  • Lower control arms  
  • Lower & Upper
  • Suspension ball joints 
  • Inner & Outer ball joints   
  • Axle ball joints

Achievements/ recognition:

  • IS0/TS 16949:2002 certifications for each of its manufacturing locations
  • IS0 14001 certified plants
  • OHSAS 18001 certified
  • Deming Application Prize winner in the year 2007

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