Key Metrics 
Check Before You Invest 
10 Yrs X-Ray 
Profit & Loss 
Valuation 
Analyst Note 
Balance Sheet 
Cash Flow 
Financial Ratio 
Qtr. Results 
News 
About
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
₹1,198.85 20.20 (1.71%)
As on 21-Jul'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
₹1,198.85 20.20 (1.71%)
As on 21-Jul'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹3,257 Cr.
Current Price
₹1,198.9
52-Week Low / High
₹613 / 1,323
TTM EPS
₹40.3
TTM Sales
₹3,863 Cr.
Book Value per Share
₹279.8
P/E Ratio
29.23
Higher than its 5-year historical median
Industry PE
45.2
Price to Book (P/B)
4.21
Higher than its 5-year historical median
Price to Sales (P/S)
0.84
Higher than its 5-year historical median
EV/EBITDA
10.79
Higher than its 5-year historical median
Dividend Yield
1.33%
Profitability Efficiency
Return on Equity (ROE)
15.37%
Outperforms industry median
Return on Capital Employed (ROCE)
14.61%
Outperforms industry median
Return on Assets (ROA)
4.82%
Operating Profit Margin
9%
Net Profit Margin
2.88%
Gross Profit Margin
7.6%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
13.43%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
17.44%
Net Profit Growth (1 Year)
-
124.63%
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
Check Before You Invest
Quality
Somewhat GoodValuation
Somewhat OvervaluedCheck Valuation charts
Price Trend
Strong
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?
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.
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.
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 :
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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 12% | 18% | 17% | 1.4% | -3.3% | 10.2% | -8.7% | -4.6% | 13.5% | 14.6% | - |
| Value Creation Index ⓘ | -0.2 | 0.3 | 0.2 | -0.9 | -1.2 | -0.3 | -1.6 | -1.3 | 0.0 | 0.0 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 989 | 1,214 | 1,370 | 1,101 | 1,147 | 1,555 | 2,124 | 2,142 | 3,406 | 3,863 | 3,863 |
| Sales YoY Gr. | - | 22.7% | 12.9% | -19.7% | 4.2% | 35.6% | 36.6% | 0.9% | 59% | 13.4% | - |
| Adj EPS ⓘ | 22.4 | 34.7 | 40.2 | -5.7 | -4.2 | 22.4 | 15.6 | 77.1 | 40.7 | 41.6 | 40.3 |
| YoY Gr. | - | 55% | 15.8% | -114.2% | NA | NA | -30.4% | 394.2% | -47.2% | 2.2% | - |
| BVPS (₹) ⓘ | 162.7 | 225.2 | 260 | 233.2 | 204.7 | 230.4 | 151.9 | 160.6 | 416.3 | 279.7 | 279.8 |
| Adj Net Profit ⓘ | 23.6 | 40.3 | 48.2 | -7.2 | -6.2 | 36.5 | 25.4 | 125 | 66.2 | 115 | 111 |
| Cash Flow from Ops. ⓘ | 89.5 | 73.3 | 70.5 | 116 | 107 | 29.4 | 130 | 130 | 339 | 221 | - |
| Debt/CF from Ops. ⓘ | 3.3 | 3.7 | 4.5 | 3.1 | 2.9 | 15.2 | 4.1 | 5.4 | 2.2 | 2.9 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 16.3% | 27.5% | 22.1% | 13.4% | ||||
| Adj EPS ⓘ | 7.1% | NA | 38.7% | 2.2% | ||||
| BVPSⓘ | 6.2% | 6.4% | 22.6% | -32.8% | ||||
| Share Price | 13% | 24.6% | 19.6% | 36.5% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 14.2 | 18.4 | 16.7 | -2.3 | -2 | 10.7 | 8.2 | 49.3 | 13.9 | 15.7 | 14.4 |
| Op. Profit Mgn % ⓘ | 10.1 | 11.1 | 10.5 | 7 | 7.9 | 8.2 | 10.2 | 9.2 | 9 | 9 | 8.9 |
| Net Profit Mgn % ⓘ | 2.4 | 3.3 | 3.5 | -0.7 | -0.5 | 2.3 | 1.2 | 5.9 | 1.9 | 3 | 2.9 |
| Debt to Equity ⓘ | 1.7 | 1 | 1 | 1.2 | 1 | 1.2 | 2.1 | 2.7 | 1.1 | 0.8 | 0.1 |
| Working Cap Days ⓘ | 106 | 117 | 134 | 160 | 149 | 133 | 118 | 126 | 111 | 135 | 65 |
| Cash Conv. Cycle ⓘ | 20 | 32 | 46 | 56 | 36 | 34 | 37 | 44 | 45 | 59 | -8 |
Profit And Loss
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 989 | 1,214 | 1,370 | 1,101 | 1,147 | 1,555 | 2,124 | 2,142 | 3,406 | 3,863 |
| Operating Expenses ⓘ + | 893 | 1,079 | 1,228 | 1,024 | 1,057 | 1,427 | 1,906 | 1,961 | 3,112 | 3,518 |
| Operating Profit ⓘ | 96 | 135 | 142 | 77 | 90 | 128 | 218 | 181 | 294 | 345 |
| Operating Profit Margin (%) | 9.7% | 11.1% | 10.3% | 7.0% | 7.8% | 8.2% | 10.2% | 8.4% | 8.6% | 8.9% |
| Other Income ⓘ + | 3 | 6 | 11 | 22 | 4 | 7 | 12 | 3 | 12 | 12 |
| Interest ⓘ | 28 | 30 | 29 | 33 | 24 | 22 | 29 | 51 | 73 | 59 |
| Depreciation ⓘ | 45 | 50 | 53 | 52 | 52 | 61 | 73 | 81 | 130 | 145 |
| Profit Before Tax ⓘ | 26 | 60 | 70 | -23 | -45 | 51 | -98 | -91 | 90 | 150 |
| Tax ⓘ | 6 | 18 | 23 | 1 | 6 | 15 | 28 | -106 | 40 | 38 |
| Profit After Tax | 21 | 42 | 47 | -24 | -51 | 37 | -127 | 15 | 50 | 111 |
| PAT Margin (%) | 2.1% | 3.4% | 3.5% | -2.2% | -4.4% | 2.4% | -6.0% | 0.7% | 1.5% | 2.9% |
| Adjusted EPS (₹) | 19.7 | 36.0 | 39.5 | -19.5 | -34.8 | 22.5 | -77.8 | 9.2 | 30.5 | 40.3 |
| Dividend Payout Ratio (%) | 30.50% | 33.30% | 21.50% | 0% | 0% | 0% | 0% | 0% | 26.20% | 39.70% |
Valuation of Rane (Madras) - Standalone
Analyst's Notes
No data found!
Balance Sheet
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 171 | 261 | 311 | 293 | 298 | 375 | 247 | 261 | 677 | 773 | |
| Debt + | 270 | 257 | 283 | 299 | 262 | 388 | 452 | 601 | 642 | 587 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 173 | 234 | 191 | 154 | 263 | 292 | 325 | 285 | 497 | 549 | |
| Others Liabilities ⓘ | 79 | 77 | 118 | 124 | 130 | 154 | 184 | 95 | 348 | 548 | |
| Total Liabilities ⓘ | 693 | 830 | 904 | 870 | 953 | 1,209 | 1,208 | 1,242 | 2,165 | 2,456 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 320 | 343 | 342 | 334 | 316 | 368 | 393 | 431 | 673 | 720 | |
| CWIP ⓘ | 27 | 14 | 12 | 10 | 15 | 16 | 16 | 13 | 59 | 69 | |
| Investments ⓘ | 0 | 0 | 1 | 80 | 107 | 174 | 40 | 29 | 46 | 58 | |
| Inventories | 110 | 136 | 155 | 133 | 132 | 191 | 232 | 240 | 433 | 497 | |
| Trade Receivables | 151 | 213 | 219 | 163 | 242 | 313 | 381 | 340 | 709 | 797 | |
| Cash Equivalents | 3 | 6 | 11 | 17 | 7 | 8 | 14 | 19 | 30 | 41 | |
| Others Assets ⓘ | 82 | 118 | 165 | 132 | 133 | 139 | 132 | 169 | 215 | 275 | |
| Total Assets ⓘ | 693 | 830 | 904 | 870 | 953 | 1,209 | 1,208 | 1,242 | 2,165 | 2,456 | |
Cash Flow
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 90 | 73 | 71 | 116 | 107 | 29 | 130 | 130 | 339 | 221 |
| Cash Flow From Investing Activity ⓘ + | -60 | -70 | -87 | -134 | -95 | -176 | -173 | -250 | -174 | 3 |
| Cash Flow From Financing Activity ⓘ + | -28 | -1 | 21 | 24 | -23 | 149 | 50 | 125 | -173 | -203 |
| Net Cash Flow ⓘ | 1 | 3 | 5 | 6 | -12 | 2 | 7 | 5 | -7 | 21 |
Financial Ratio
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 12.78 | 19.34 | 16.5 | -8.09 | -17.16 | 10.88 | -40.69 | 5.85 | 10.57 | 15.37 |
| ROCE (%) | 11.95 | 18.02 | 17 | 1.44 | -3.31 | 10.22 | -8.72 | -4.57 | 13.53 | 14.61 |
| Asset Turnover Ratio | 1.74 | 1.66 | 1.58 | 1.24 | 1.26 | 1.46 | 1.78 | 1.77 | 2.04 | 1.71 |
| PAT to CFO Conversion(x) | 4.29 | 1.74 | 1.51 | N/A | N/A | 0.78 | N/A | 8.67 | 6.78 | 1.99 |
| Working Capital Days | ||||||||||
| Receivable Days | 42.20 | 52.60 | 57.60 | 63.30 | 64.50 | 64.20 | 58.80 | 60.60 | 55.20 | 69.70 |
| Inventory Days | 31.60 | 35.50 | 38.70 | 47.80 | 42.30 | 37.40 | 35.80 | 39.70 | 35.50 | 43.10 |
| Payable Days | 89.40 | 90.50 | 78.40 | 87.90 | 112.70 | 108.40 | 87.70 | 87.90 | 78.50 | 89.90 |
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* 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 21-Jul-2026 16:59 is ₹1,198.9.
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-Jul-2026 the market cap of Rane (Madras) stood at ₹3,257.5 Cr
The latest P/E ratio of Rane (Madras) as of 20-Jul-2026 is 29.23.
The latest P/B ratio of Rane (Madras) as of 20-Jul-2026 is 4.21.
The 52-week high of Rane (Madras) is ₹1,323 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 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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