Rane (Madras) Ltd - Stock Valuation and Financial Performance

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

Rane Madras Share Price

688.30 10.15 1.50%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Rane Madras

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Rane (Madras) stock performance -

mw4me loader
P/E Ratio (SA):
0.00
Market Cap:
1,119.5 Cr.
52-wk low:
386.7
52-wk high:
990

Is Rane (Madras) Ltd an attractive stock to invest in?

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 Weak which suggest that the price of Rane (Madras) Ltd is likely to Fall 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'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 13.6%8%7.9%9.5%12.3%11.7%2.4%1.7%7.2%5.7%-
Value Creation
Index
0.0-0.4-0.4-0.3-0.1-0.2-0.8-0.9-0.5-0.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 7277798619891,2141,3701,1011,1471,5552,1242,185
Sales YoY Gr.-7.2%10.5%14.9%22.7%12.9%-19.7%4.2%35.6%36.6%-
Adj EPS 25.414.917.322.434.740.2-5.7-4.222.415.6-107.2
YoY Gr.--41.5%16.3%29.6%55%15.8%-114.2%NANA-30.4%-
BVPS (₹) 133.4138.4145162.7225.2260233.2204.7230.4151.9164.7
Adj Net
Profit
26.715.618.223.640.348.2-7.2-6.236.525.4-174
Cash Flow from Ops. 45.267.136.989.573.370.511610729.4130-
Debt/CF from Ops. 3.73.17.63.33.74.53.12.915.24.1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 12.7%11.8%24.5%36.6%
Adj EPS -5.3%-14.8%NA-30.4%
BVPS1.5%-7.6%-13.3%-34.1%
Share Price 13.9% 13.9% 24.4% 71.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
19.210.311.614.218.416.7-2.3-210.78.2-67.7
Op. Profit
Mgn %
10.199.410.111.110.577.98.210.29.6
Net Profit
Mgn %
3.722.12.43.33.5-0.7-0.52.31.2-8
Debt to
Equity
1.11.41.71.7111.211.22.1-
Working Cap
Days
11412212410611713416014913311854
Cash Conv.
Cycle
32312720324656363437-7

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 24.50%

Return on Equity is Poor

Net Profit has been subdued in last 3 years 0.00%

Debt to equity has increased versus last 3 years average to 2.12

Sales growth is not so good in last 4 quarters at 8.98%

Latest Financials - Rane (Madras) Ltd.

Standalone Consolidated
TTM EPS (₹) -107.2 13.5
TTM Sales (₹ Cr.) 2,185 2,342
BVPS (₹.) 164.7 162.8
Reserves (₹ Cr.) 252 248
P/BV 4.18 4.23
PE 0.00 51.05
From the Market
52 Week Low / High (₹) 386.70 / 989.95
All Time Low / High (₹) 24.90 / 1050.00
Market Cap (₹ Cr.) 1,120
Equity (₹ Cr.) 16.3
Face Value (₹) 10
Industry PE 46.3

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

Login/Register to view analysis.

Analyst's Notes

Key Ratios of Rane Madras

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales7277798619891,2141,3701,1011,1471,5552,124
Operating Expenses 6587107838931,0791,2281,0241,0571,4271,906
Manufacturing Costs110113123158190202164181239306
Material Costs4024304735436818016456759331,282
Employee Cost 808798115136149142134167193
Other Costs 678088787277726788125
Operating Profit 686978961351427790128218
Operating Profit Margin (%) 9.4%8.8%9.1%9.7%11.1%10.3%7.0%7.8%8.2%10.2%
Other Income 1123611224712
Interest 15161928302933242229
Depreciation 25333945505352526173
Exceptional Items -9-3-3000-38-630-226
Profit Before Tax 201719266070-23-4551-98
Tax 34561823161528
Profit After Tax 171214214247-24-5137-127
PAT Margin (%) 2.3%1.6%1.6%2.1%3.4%3.4%-2.2%-4.4%2.4%-6.0%
Adjusted EPS (₹)15.411.312.919.736.039.5-19.5-34.822.5-77.8
Dividend Payout Ratio (%)36%40%35%31%33%22%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 148154161171261311293298375247
Share Capital 19191911121213151616
Reserves 130135142160250299280284359231
Minority Interest0000000000
Debt136160235270257283299262388452
Long Term Debt445112412911911214089152170
Short Term Debt92109111141139171159173236282
Trade Payables110133137173234191154263292325
Others Liabilities 1011281257977118124130154184
Total Liabilities 4955756586938309048709531,2091,208

Fixed Assets

Gross Block372426526365438490535569680776
Accumulated Depreciation1531842204595148201253312384
Net Fixed Assets219242306320343342334316368393
CWIP 429727141210151616
Investments 0000018010717440
Inventories808693110136155133132191232
Trade Receivables108115122151213219163242313381
Cash Equivalents 3333611177814
Others Assets819912682118165132133139132
Total Assets 4955756586938309048709531,2091,208

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 45673790737111610729130
PBT 201719266070-23-4551-98
Adjustment 42526072778010613684315
Changes in Working Capital -123-36-5-51-594225-92-52
Tax Paid -4-4-6-4-13-21-8-9-15-35
Cash Flow From Investing Activity -46-85-75-60-70-87-134-95-176-173
Capex -43-85-75-68-68-49-37-46-82-98
Net Investments 00000-1-980-10
Others -3007-1-370-49-94-75
Cash Flow From Financing Activity -61838-28-12124-2314950
Net Proceeds from Shares 000060201753300
Net Proceeds from Borrowing 22672-22-211750-657831
Interest Paid -16-16-19-28-31-28-31-23-21-26
Dividend Paid -5-6-10-2-9-13-5000
Others 1214-625025-6126246
Net Cash Flow -7001356-1227
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)12.428.719.4612.7819.3416.5-8.09-17.1610.88-40.69
ROCE (%)12.619.749.3911.9518.02171.44-3.3110.22-8.72
Asset Turnover Ratio1.771.591.531.741.661.581.241.261.461.78
PAT to CFO Conversion(x)2.655.582.644.291.741.51N/AN/A0.78N/A
Working Capital Days
Receivable Days46484642535863646459
Inventory Days33363532363948423736
Payable Days7686898991788811310888

Rane (Madras) Ltd Stock News

Rane (Madras) Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Rane Madras on 28-Mar-2024 16:01 is ₹688.3.
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 28-Mar-2024 16:01 the market cap of Rane Madras stood at ₹1,119.5.
The latest P/E ratio of Rane Madras as of 28-Mar-2024 16:01 is 0.00.
The latest P/B ratio of Rane Madras as of 28-Mar-2024 16:01 is 4.18.
The 52-week high of Rane Madras is ₹990.0 and the 52-week low is ₹386.7.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Rane Madras is ₹2,185 ( 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

Read More Read Less
You have 2 views remaining as a Guest User. To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.