Rane (Madras) Ltd logo

Rane (Madras) Ltd

RML NSE

Key Fundamentals

MicrocapAuto ComponentsAutomobiles
Market Cap
₹2,863 Cr
Volatility
Moderate
P/E Ratio
24.46
EBITDA
₹356 Cr
Return on Equity
14.32%
Debt to Equity
1
Book Value
₹271.58
EPS
₹66.4
52W High
₹1,323.9
52W Low
₹608.5

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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40 extracted metrics + investor summaries across FY13–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

2
  • Company has delivered good profit growth of 30.5% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 25.2%

Weaknesses

2
  • Stock is trading at 3.88 times its book value
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
13.36% ↗
Net Income Growth
185.15% ↗
Cash Flow Change
-30.62% ↘
ROE
155.26% ↗
ROCE
39.46% ↗
EBITDA Margin (Avg.)
5.40% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 32d ago
AI opinion · based on fundamentals
Risk medium

Rane (Madras) Ltd trades at a market cap of ₹3,417 Cr with a PE of 30.9x and PB of 4.43x. The company has delivered strong compounded profit growth of 47% CAGR over 3 years and 31% over 5 years, while maintaining a dividend yield of 1.33%. ROE has averaged 19% over the last 3 years but moderated to 15% in the most recent year.

Bull Case 8
  • Compounded profit growth of 47% CAGR over 3 years and 31% over 5 years indicates strong earnings momentum
  • TTM profit growth of 150% shows a sharp acceleration in recent earnings
  • 3-year average ROE of 19% reflects efficient capital deployment relative to auto ancillary peers
  • Compounded sales growth of 18% over 3 years and 25% over 5 years demonstrates consistent top-line expansion
  • Healthy dividend payout ratio of 25.2% signals management confidence in sustaining cash flows
  • Stock CAGR of 33% over 1 year and 27% over 5 years shows sustained investor interest and price momentum
  • 10-year compounded sales growth of 16% and profit growth of 22% indicate a long-duration compounder track record
  • TTM revenue growth of 13% continues to outpace broader GDP and auto sector volume growth
Bear Case 8
  • PE of 30.9x is elevated for an auto ancillary company, leaving limited margin of safety
  • Stock trades at 4.43x book value, well above historical norms for the auto component sector
  • Potential capitalization of interest costs raises concerns about true profitability and accounting quality
  • ROE declined from a 3-year average of 19% to 15% in the last year, signaling possible return compression
  • 10-year ROE of only 9% suggests the recent improvement may not be structurally sustainable
  • TTM sales growth of 13% is decelerating compared to the 3-year CAGR of 18% and 5-year CAGR of 25%
  • Dividend yield of 1.33% offers limited income cushion at current valuations
  • Market cap of ₹3,417 Cr with a 30.9x PE implies the stock is pricing in continued high growth with limited room for execution misses

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 32d ago
Positives 1
  • Friction biz acquisition ₹370Cr Jun 30

    Rane Madras acquires Hindustan Composites' friction business for ₹370 crore, creating a ₹1,000 crore platform and expanding its product portfolio.

Neutral 2
  • New Independent Director appointed Jun 30

    Ramkumar Lakshminarayanan appointed as Independent Director from July 1, 2026 to April 8, 2031, subject to shareholder approval.

  • Promoter shares unencumbered Jun 15

    Nisshinbo Holdings declared no encumbrance on 16,75,011 shares (6.06% stake) in Rane Madras for FY26, signaling clean promoter holding.

TL;DR: Rane Madras is pursuing inorganic growth with the ₹370 crore friction business acquisition from Hindustan Composites, which scales it to a ₹1,000 crore platform in that segment. No material headwinds are visible in recent news flow. Governance signals are clean with unencumbered promoter holdings and board refreshment. The trend is modestly improving as the acquisition should drive revenue diversification and scale benefits going forward.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
588
611
521
853
818
849
837
901
881
919
1,015
1,048
1,042
Expenses
546
579
474
784
753
777
771
823
806
841
924
952
955
Operating Profit
42
32
47
69
65
72
66
79
75
79
91
96
87
OPM %
7%
5%
9%
8%
8%
9%
8%
9%
8%
9%
9%
9%
8%
Other Income
-17
-85
1
-4
6
2
2
-8
3
2
3
4
9
Interest
14
13
15
16
17
18
20
18
17
15
15
12
15
Depreciation
24
24
21
33
32
32
33
36
36
37
36
38
39
PBT
-13
-90
13
16
21
24
15
17
25
30
43
49
41
Tax %
7%
-120%
29%
31%
32%
34%
97%
62%
25%
28%
29%
24%
27%
Net Profit
-14
18
9
11
15
16
0
7
19
21
31
37
30
EPS in Rs
-8.9
10.93
5.59
6.62
8.99
9.91
0.24
4.01
6.7
7.77
11.04
13.37
10.89
Figures in ₹ Crores

Profit & Loss

  Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
876
1,195
1,400
1,555
1,277
1,267
1,742
2,354
3,463
3,406
3,863
4,024
Expenses
797
1,106
1,273
1,438
1,230
1,236
1,667
2,171
3,193
3,122
3,522
3,672
Operating Profit
79
89
127
117
47
31
75
184
270
284
341
352
OPM %
9%
7%
9%
8%
3.7%
2.5%
4.3%
8%
8%
8%
9%
9%
Other Income
-2
11
9
10
12
7
52
6
-102
2
12
18
Interest
19
30
34
35
38
28
21
35
68
76
60
58
Depreciation
41
57
61
66
66
66
81
97
132
132
147
151
PBT
17
13
40
26
-45
-55
26
58
-32
78
146
162
Tax %
27%
66%
40%
91%
2%
10%
58%
49%
-269%
52%
26%
—
Net Profit
13
4
24
2
-46
-61
11
30
55
38
107
119
EPS in Rs
12.05
4.11
20.87
2.02
-36.26
-41.98
6.55
18.46
33.67
23.15
38.89
43.07
Div. Payout %
37%
146%
58%
420%
0%
0%
0%
0%
0%
35%
41%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
11
11
12
12
13
15
16
16
16
16
28
Reserves
140
147
218
218
171
167
212
225
642
655
723
Borrowings
338
362
357
417
470
470
585
668
851
813
752
Other Liabilities
212
267
315
290
268
380
417
439
613
785
1,018
Total Liabilities
701
787
902
937
922
1,032
1,230
1,349
2,122
2,269
2,521
Fixed Assets
361
365
386
386
382
415
477
490
667
693
739
CWIP
7
28
16
16
50
31
18
29
45
73
95
Investments
0
0
0
1
1
1
1
1
11
7
8
Other Assets
333
394
499
535
489
586
733
829
1,398
1,496
1,679
Total Assets
701
787
902
937
922
1,032
1,230
1,349
2,122
2,269
2,521
Figures in ₹ Crores

Cash Flow

  Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
31
88
65
45
69
46
-6
88
191
316
219
Investing
-74
-77
-78
-60
-103
-80
-124
-106
-148
-146
10
Financing
43
-7
14
26
34
21
134
35
-55
-176
-207
Net Cash Flow
0
4
1
11
0
-13
5
17
-12
-6
23
Free Cash Flow
-44
10
-13
-15
-34
-34
-106
-20
-2
159
84
CFO/OP
47
103
62
56
164
176
12
67
85
111
78
Figures in ₹ Crores

Ratios

  Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
67
57
64
58
55
78
74
65
63
76
75
Inventory Days
75
76
73
71
80
81
76
67
82
81
80
Days Payable
117
118
123
89
97
150
115
91
83
93
88
Cash Conversion Cycle
25
15
14
39
38
9
35
41
62
64
67
Working Capital Days
-36
-33
-16
-16
-36
-42
-20
-14
3
-6
-17
ROCE %
—
9%
13%
10%
-1%
-4%
0%
12%
12%
11%
14%

Shareholding Pattern

As of Jun 2026
Promoters 70.45%
Public 23.67%
Others 4.76%
DIIs 0.79%
FIIs 0.33%
Total 100.00%
  Jan 2021Mar 2021Jun 2021Aug 2021Sep 2021Dec 2021Jan 2022Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Apr 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
67.56%
69.45%
69.45%
71.14%
71.14%
71.14%
72.65%
72.65%
72.65%
72.65%
72.65%
72.65%
72.65%
72.65%
72.65%
72.65%
72.65%
72.65%
72.65%
72.65%
70.45%
70.45%
70.45%
70.45%
70.45%
70.45%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.01%
0.21%
0.07%
0.09%
0.01%
0.03%
0.04%
0.05%
0.06%
0.33%
DIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.11%
0.50%
0.63%
0.47%
0.00%
0.13%
0.13%
0.12%
1.04%
1.04%
1.04%
1.03%
0.98%
0.79%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
27.86%
26.38%
26.30%
24.85%
25.00%
24.37%
23.10%
23.67%
23.61%
23.41%
23.29%
22.83%
22.89%
23.08%
23.03%
23.05%
22.90%
22.11%
22.81%
23.50%
23.93%
23.75%
23.68%
23.74%
23.67%
23.67%
Others
4.58%
4.17%
4.25%
4.02%
3.86%
4.49%
4.25%
3.68%
3.75%
3.94%
4.07%
4.52%
4.35%
3.78%
3.70%
3.83%
4.45%
4.90%
4.35%
3.65%
4.57%
4.73%
4.79%
4.74%
4.84%
4.76%
No. of Shareholders
11,252
13,606
14,006
14,006
14,851
14,425
14,425
18,445
18,036
16,689
17,010
15,830
14,287
14,594
13,331
13,432
12,830
13,345
13,547
13,572
34,500
33,748
32,127
30,907
29,856
28,932

Documents

1
Concall - Jun 2017 Jun 2017
2
Concall - Aug 2017 Aug 2017
3
Concall - Dec 2017 Dec 2017
4
Concall - Feb 2018 Feb 2018
5
Concall - Feb 2018 Feb 2018

Frequently Asked Questions about Rane (Madras) Ltd

What does Rane (Madras) Ltd do?
Established in 1960, Rane (Madras) Limited (RML) is part of the Rane Group of Companies, a leading auto component group based out of Chennai. RML has two divisions namely Steering and Linkages Division (SLD) and Light Metal Casting India Division (LMCI). Through its overseas subsidiary Rane Light...
Where is Rane (Madras) Ltd (RML) listed?
Rane (Madras) Ltd is listed on the Indian stock exchanges. It is listed on NSE: RML and BSE: 532661. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Rane (Madras) Ltd belong to?
Rane (Madras) Ltd operates in the Automobiles sector within the Auto Components industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Rane (Madras) Ltd?
Rane (Madras) Ltd has a market capitalisation of approximately ₹2863.21 Cr. Based on this, it is classified as a Small Cap stock.
What is the PE ratio of Rane (Madras) Ltd?
The Price-to-Earnings (PE) ratio of Rane (Madras) Ltd is 24.46. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Rane (Madras) Ltd?
Over the past 52 weeks, Rane (Madras) Ltd has traded between a low of ₹608.5 and a high of ₹1,323.9. This range helps investors understand the stock's price volatility and recent trading levels.
Does Rane (Madras) Ltd pay dividends?
Yes, Rane (Madras) Ltd has a dividend yield of 1.54%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Rane (Madras) Ltd?
Rane (Madras) Ltd has a Return on Equity (ROE) of 14.32%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Rane (Madras) Ltd on Tapetide?
On Tapetide, you can view Rane (Madras) Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Established in 1960, Rane (Madras) Limited (RML) is part of the Rane Group of Companies, a leading auto component group based out of Chennai. RML has two divisions namely Steering and Linkages Division (SLD) and Light Metal Casting India Division (LMCI). Through its overseas subsidiary Rane Light Metal Castings Inc. (RLMCA), RML manufactures high pressure light metal casting components from its facility in Kentucky, USA.[1]

Website ranegroup.com
CEO Mr. Harish Lakshman B.E, M.S.M
Employees 2,556
Listed 2005-08-30
Face Value ₹ 10
Issued Size 2,76,37,137

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