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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

₹912.10 8.00 (0.88%)

As on 04-Jun'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

₹912.10 8.00 (0.88%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹2,521 Cr.
Current Price
₹912.1
52-Week Low / High
₹613 / 1,055
TTM EPS
₹40.3
TTM Sales
₹3,863 Cr.
Book Value per Share
₹279.8
P/E Ratio
22.62
Higher than its 5-year historical median
Industry PE
42.9
Price to Book (P/B)
3.26
In line with its 5-year historical median
Price to Sales (P/S)
0.65
Higher than its 5-year historical median
EV/EBITDA
8.75
Higher than its 5-year historical median
Dividend Yield
1.27%
Profitability Efficiency
Return on Equity (ROE)
10.57%
Underperforms industry median
Return on Capital Employed (ROCE)
13.53%
In line with industry median
Return on Assets (ROA)
2.91%
Operating Profit Margin
9%
Net Profit Margin
1.46%
Gross Profit Margin
6.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
58.99%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
62.6%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
233.4%
Asset Quality
Promoter Holding
70.45%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹746 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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Quality

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Valuation

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Price Trend

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Q.1 Is Rane (Madras) Ltd a good quality company?
Rane (Madras) Ltd is a average quality company, based on a somewhat consistent 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.

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.

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 25.35%, compared to the industry median CAGR of 11.89%, 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 10.6% based on the current price.

10 Year X-Ray : Login to view analysis.

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 performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 9.4%12%18%17%1.4%-3.3%10.2%-8.7%-4.6%13.5%-
Value Creation
Index
-0.3-0.20.30.2-0.9-1.2-0.3-1.6-1.30.0-

Growth Parameters

Sales 8619891,2141,3701,1011,1471,5552,1242,1423,4063,863
Sales YoY Gr.-14.9%22.7%12.9%-19.7%4.2%35.6%36.6%0.9%59%-
Adj EPS 17.322.434.740.2-5.7-4.222.415.677.140.740.3
YoY Gr.-29.6%55%15.8%-114.2%NANA-30.4%394.2%-47.2%-
BVPS (₹) 145162.7225.2260233.2204.7230.4151.9160.6416.3279.8
Adj Net
Profit
18.223.640.348.2-7.2-6.236.525.412566.2111
Cash Flow from Ops. 36.989.573.370.511610729.4130130339-
Debt/CF from Ops. 7.63.33.74.53.12.915.24.15.42.2-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 16.5%25.4%29.9%59%
Adj EPS 10%NA22%-47.2%
BVPS12.4%12.3%21.8%159.2%
Share Price 10.8% 19.5% 15.4% 1.6%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
11.614.218.416.7-2.3-210.78.249.313.911.6
Op. Profit
Mgn %
9.410.111.110.577.98.210.29.298.9
Net Profit
Mgn %
2.12.43.33.5-0.7-0.52.31.25.91.92.9
Debt to
Equity
1.71.7111.211.22.12.71.10.1
Working Cap
Days
12410611713416014913311812611165
Cash Conv.
Cycle
27203246563634374445-8

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales8619891,2141,3701,1011,1471,5552,1242,1423,406
Operating Expenses + 7838931,0791,2281,0241,0571,4271,9061,9613,112
Manufacturing Costs127158190202164181239306330580
Material Costs4735436818016456759331,2821,2651,819
Employee Cost 98115136149142134167193210470
Other Costs 84787277726788125156243
Operating Profit 78961351427790128218181294
Operating Profit Margin (%) 9.1%9.7%11.1%10.3%7.0%7.8%8.2%10.2%8.4%8.6%
Other Income + 23611224712312
Exceptional Items -3000-38-630-226-142-13
Interest 19283029332422295173
Depreciation 394550535252617381130
Profit Before Tax 19266070-23-4551-98-9190
Tax 561823161528-10640
Profit After Tax 14214247-24-5137-1271550
PAT Margin (%) 1.6%2.1%3.4%3.5%-2.2%-4.4%2.4%-6.0%0.7%1.5%
Adjusted EPS (₹)12.919.736.039.5-19.5-34.822.5-77.89.230.5
Dividend Payout Ratio (%)35%30.50%33.30%21.50%0%0%0%0%0%26.20%

Valuation of Rane Madras - Standalone

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

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 161171261311293298375247261677
Share Capital 19111212131516161616
Reserves 142160250299280284359231245661
Debt +235270257283299262388452601642
Long Term Debt12412911911214089152170262217
Short Term Debt111141139171159173236282338425
Minority Interest0000000000
Trade Payables137173234191154263292325285497
Others Liabilities 125797711812413015418495348
Total Liabilities 6586938309048709531,2091,2081,2422,165

Fixed Assets

Net Fixed Assets +306320343342334316368393431673
Gross Block5263654384905355696807768911,626
Accumulated Depreciation2204595148201253312384460953
CWIP 7271412101516161359
Investments 000180107174402946
Inventories93110136155133132191232240433
Trade Receivables122151213219163242313381340709
Cash Equivalents 336111778141930
Others Assets 12682118165132133139132169215
Total Assets 6586938309048709531,2091,2081,2422,165

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 3790737111610729130130339
PBT 19266070-23-4551-98-9190
Adjustment 6072778010613684315272218
Changes in Working Capital -36-5-51-594225-92-52-2630
Tax Paid -6-4-13-21-8-9-15-35-251
Cash Flow From Investing Activity + -75-60-70-87-134-95-176-173-250-174
Capex -75-68-68-49-37-46-82-98-121-156
Net Investments 000-1-980-24-76-129-20
Others 07-1-37-0-49-71101
Cash Flow From Financing Activity + 38-28-12124-2314950125-173
Net Proceeds from Shares 006020175330000
Net Proceeds from Borrowing 72-22-211750-657831118-83
Interest Paid -19-28-31-28-31-23-21-26-48-71
Dividend Paid -10-2-9-13-50000-27
Others -625025-6126246558
Net Cash Flow -01356-12275-7

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)9.4612.7819.3416.5-8.09-17.1610.88-40.695.8510.57
ROCE (%)9.3911.9518.02171.44-3.3110.22-8.72-4.5713.53
Asset Turnover Ratio1.531.741.661.581.241.261.461.781.772.04
PAT to CFO Conversion(x)2.644.291.741.51N/AN/A0.78N/A8.676.78
Working Capital Days
Receivable Days45.7042.2052.6057.6063.3064.5064.2058.8060.6055.20
Inventory Days34.7031.6035.5038.7047.8042.3037.4035.8039.7035.50
Payable Days88.8089.4090.5078.4087.90112.70108.4087.7087.9078.50

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 (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Rane (Madras) Ltd FAQs

The current trading price of Rane Madras on 04-Jun-2026 16:59 is ₹912.1.

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 03-Jun-2026 the market cap of Rane Madras stood at ₹2,520.8 Cr

The latest P/E ratio of Rane Madras as of 03-Jun-2026 is 22.62.

The latest P/B ratio of Rane Madras as of 03-Jun-2026 is 3.26.

The 52-week high of Rane Madras is ₹1,054.6 and the 52-week low is ₹612.5.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Rane Madras is ₹3,863 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Rane (Madras) Ltd is a 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 Fair 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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