Rane ML- Q4 FY18

By
The SME Times News Bureau
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Bengaluru, May 30, 2018: Rane (Madras) Limited (NSE: RML; BSE Code:532661), a leading manufacturer of steering and suspension products and die casting components today announced its standaloneand consolidated financial performance for the financial year (FY18) ended March 31st, 2018.

Standalone FY18Performance

  • Total Net Revenue was ₹1,217.5Crore for FY18 as compared to ₹992.6 Crore in FY17, an increase of 22.7%
  • EBITDA stood at ₹139.5 Crore as compared to ₹99.4 Crore during FY17, an increase of 40.4%
  • EBITDA Margin at 11.5% for FY18 as against 10.0% in FY17, an improvement of 145 basis point (bps)
  • Net profit (PAT) stood at ₹41.8 Crore for FY18 as compared to ₹20.7 Crore in FY17, an increase of 102.3%

Consolidated FY18 Performance

  • Total Net Revenue was ₹1,406.6Crore for FY18 as compared to ₹1,206.5 Crore in FY17, an increase of 16.6%
  • EBITDA stood at ₹134.9 Crore as compared to ₹99.9 Crore during FY17, an increase of 35.0%
  • EBITDA Margin at 9.6% for FY18 as against 8.3% in FY17, an improvement of 131 basis point (bps)
  • Net profit (PAT) stood at ₹24.2 Crore for FY18 as compared to ₹4.3 Crore in FY17, an increase of 460.1%

Corporate Action

  • A final dividend of ₹7.50/- per equity share has been recommended by the Board of Directors on the paid-up capital of 1,16,07,541 equity shares of ₹10/- each fully paid up.The total dividend for the year ending March 31, 2018 is ₹12/- per equity share including an interim dividend of ₹4.50/- per equity share declared on January 23, 2018 and paid on February 13, 2018.

Operating Highlights for FY18 – Standalone

  • In the Indian market, the Steering and Linkages business registered good growth across vehicle segments and Die Casting business delivered robust performance
  • Strong demand for Steering products from international customers
  • Improved operational performance of Die Casting business despite marginal decline in revenue because of lower offtake by international customers
  • EBITDA margin improved by 145 bps due to increased volume and improved operational performance

Overseas Subsidiary

  • Experienced dip in salesdue to lower offtake from select customers and delay in commencement of new program.
  • The business achieved positive EBITDA in the first half, but in the second half faced unanticipated operational issues leading to significant cost overruns. There was also a one-off customer charge back towards past quality issues.

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Corporate Comm India(CCI Newswire)

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