Mumbai, India, May 16, 2017 – Rane (Madras) Limited (NSE: RML; BSE Code:532661), a leading manufacturer of steering and suspension products and die casting components today announced its standalone and consolidated financial performance for the fourth quarter (Q4FY17) and full year(FY17) ended March 31st, 2017
Standalone FY17 Performance
§ Total Revenue was ₹1,005.3 Crore for FY17 as compared to ₹862.49 Crore in the FY16, an increase of 17%
§ EBITDA stood at ₹97.37 Crore as compared to ₹79.69 Crore during FY16, an increase of 22%
§ EBITDA Margin at 9.7% for FY17 as against 9.2% in FY16
§ Net profit (PAT) stood at ₹18.96 Crore for FY17 as compared to ₹14.09 Crore in FY16, an increase of 35%
Consolidated FY17 Performance
§ Total Revenue was ₹1,219.32 Crore for FY17 as compared to ₹891.57 Crore in the FY16, an increase of 37%
§ EBITDA stood at ₹100.46 Crore as compared to ₹80.08 Crore during FY16, an increase of 25%
§ EBITDA Margin at 8.2% for FY17 as against 9.0% in FY16
§ Net profit (PAT) stood at ₹4.96 Crore for FY17 as compared to ₹12.67 Crore in FY16.
Corporate Action
§ A final dividend of ₹4/- per equity share has been recommended by the Board of Directors on the paid-up capital of 1,05,10,649 equity shares of ₹10/- each fully paid up.
Board Changes
The board of directors at their meeting held today elected Mr. Harish Lakshman as Vice-Chairman of the Company effective May 16, 2017, to guide and advise the Company on business and policy matters along with the Chairman. He has been on the Board as a director of the Company since March 31, 2004.
Operating Highlights for FY17 – Standalone
§ Strong demand from Passenger Car and Commercial Vehicle segments for the Steering and Linkages Division
§ Performance in the Farm Tractors segment remained subdued mainly due to superior growth in unserved markets
§ Commencement of new businesses for Steering and Die-cast components led the growth from international customers
§ Stringent cost control measures offset the impact of the cost escalation
Overseas Subsidiary
§ Undertook various measures to improve operational performance of overseas subsidiary company, Rane Precision Die Casting Inc. (RPDC)
