Rane (Madras) Ltd Stock Analysis

BSE: 532661 | NSE: RML | Auto Ancillary | Small Cap

BSE Share Price 31-Jan-2023 18:03
410.55 18.45 (4.71%)

DeciZen - Make an Informed Decision on Rane Madras

Overall Rating

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

Rane Madras Price Chart

P/E Ratio ( SA) :
11.07
Market Cap :
667.8 Cr.
52-wk low :
260
52-wk high :
466.6
Bole Toh?

1. Is Rane (Madras) Ltd a good quality company?

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

2. Is Rane (Madras) Ltd undervalued or overvalued?

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

3. Is Rane (Madras) Ltd a good buy now?

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

10 Year X-Ray of Rane Madras:

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

Value Creation Index Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 13.9%13.6%8%7.9%9.5%12.3%11.7%2.4%1.7%7.2%-
Value Creation Index -0.0-0.0-0.4-0.4-0.3-0.1-0.2-0.8-0.9-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 6407277798619891,2141,3701,1011,1471,5551,879
YoY Gr. Rt. %-13.6%7.2%10.5%14.9%22.7%12.9%-19.7%4.2%35.6%-
Adj EPS 24.125.414.917.322.434.740.2-5.7-4.222.437.1
YoY Gr. Rt. %-5.7%-41.5%16.3%29.6%55%15.8%-114.2%NANA-
BVPS (₹) 128133.4138.4145162.7225.2260233.2204.7230.4252
Adj Net Profit 24.526.715.618.223.640.348.2-7.2-6.236.560
Cash Flow from Ops. 70.445.267.136.989.573.370.511610729.4-
Debt/CF from Ops. 1.53.73.17.63.33.74.53.12.915.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 10.4%9.5%4.3%35.6%
Adj EPS -0.8%0%-17.7%NA
BVPS 6.87.2-412.6
Share Price 11.6% -13.5% 15.6% 4.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 2019.210.311.614.218.416.7-2.3-210.715.4
Op. Profit Mgn % 9.110.199.410.111.110.577.98.28.6
Net Profit Mgn % 3.83.722.12.43.33.5-0.7-0.52.33.2
Debt to Equity 0.81.11.41.71.7111.211.20.4
Working Cap Days 118114122124106117134160149135109
Cash Conv. Cycle 383231272032465636350

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 15.40%

Sales growth is good in last 4 quarters at 29.03%

Sales growth has been subdued in last 3 years 4.31%

Debt to equity has increased versus last 3 years average to 1.19

Latest Financials - Rane (Madras) Ltd.

Standalone Consolidated
TTM EPS (₹) 37.1 -6.2
TTM Sales (₹ Cr.) 1,879 2,093
BVPS (₹.) 252 148.4
Reserves (₹ Cr.) 394 225
P/BV 1.63 2.79
PE 11.07 0.00
From the Market
52 Week Low / High (₹) 260.00 / 466.60
All Time Low / High (₹) 24.90 / 1050.00
Market Cap (₹ Cr.) 668
Equity (₹ Cr.) 16.3
Face Value (₹) 10
Industry PE 35.2

Management X-Ray of Rane Madras :

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 Madras

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

Rane (Madras) Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Rane Madras on 31-Jan-2023 18:03 is : 410.6.
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 31-Jan-2023 18:03 the market cap of Rane Madras stood at ₹ 667.8.
The latest PE ratio of Rane Madras as of 31-Jan-2023 18:03 is 11.07.
The latest PB ratio of Rane Madras as of 31-Jan-2023 18:03 is 1.63
The 52-week high of Rane Madras is ₹ 466.6 and the 52-week low is ₹ 260.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue / sales of Rane Madras is ₹ 1,879 ( Cr.) .

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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