RML

Rane (Madras) Limited

Friction materials and components for automotive and industrial applications

Consumer Discretionary›Automobile and Auto Components›Auto Components›Auto Components & Equipments

ranegroup.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1274.60
Market cap
3,523 Cr
Stock P/E
29.6
P/B
4.69
Dividend yield
0.6%
ROE (FY26)
14.3%
ROCE (FY26)
14.8%
Operating margin (FY26)
5.0%
Debt / equity (FY26)
0.84
OCF / EBITDA (FY26)
64.5%
OCF / EBITDA (3Y)
85.3%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Rane (Madras), also called RML, makes steering and suspension systems, brake components, engine components and light metal castings for vehicle makers and the aftermarket in India and abroad.

Company snapshot

45thBy market cap

Ranked among 94 companies in Auto Components & Equipments.

What we see

Positives
  • ✓85% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Net margin is very thin at 2.8% — little room for error if costs rise.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales611 Cr521 Cr518 Cr522 Cr529 Cr522 Cr901 Cr881 Cr919 Cr1,015 Cr1,048 Cr1,042 Cr
Operating expenses (approx.)579 Cr474 Cr493 Cr481 Cr493 Cr485 Cr823 Cr806 Cr841 Cr924 Cr952 Cr955 Cr
EBITDA32 Cr47 Cr25 Cr41 Cr36 Cr37 Cr79 Cr75 Cr79 Cr91 Cr96 Cr87 Cr
OPM %5.2%9.0%4.8%7.8%6.8%7.1%8.7%8.5%8.6%8.9%9.1%8.3%
Other income0.64 Cr1 Cr0.96 Cr2 Cr2 Cr2 Cr4 Cr4 Cr4 Cr4 Cr4 Cr9 Cr
Interest13 Cr15 Cr14 Cr15 Cr16 Cr17 Cr18 Cr17 Cr15 Cr15 Cr12 Cr15 Cr
Depreciation24 Cr21 Cr22 Cr21 Cr21 Cr22 Cr36 Cr36 Cr37 Cr36 Cr38 Cr39 Cr
Profit before tax-90 Cr13 Cr-12 Cr6 Cr0.39 Cr0.41 Cr17 Cr25 Cr30 Cr43 Cr49 Cr41 Cr
Tax %119.7%29.4%19.1%43.2%274.4%153.7%61.5%25.2%27.7%28.6%23.9%26.6%
Net profit18 Cr9 Cr-9 Cr3 Cr-0.68 Cr-0.22 Cr7 Cr19 Cr21 Cr31 Cr37 Cr30 Cr
EPS (₹)₹10.93₹5.59₹-5.76₹2.10₹-0.42₹-0.14₹2.37₹6.70₹7.77₹11.04₹13.37₹10.89

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,290 Cr1,423 Cr1,555 Cr1,277 Cr1,267 Cr1,742 Cr2,354 Cr2,239 Cr3,406 Cr3,863 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,202 Cr1,297 Cr1,439 Cr1,231 Cr1,237 Cr1,668 Cr2,172 Cr2,093 Cr3,124 Cr3,523 CrSign in free for the trailing twelve months
EBITDA88 Cr126 Cr116 Cr46 Cr31 Cr74 Cr183 Cr146 Cr282 Cr340 CrSign in free for the trailing twelve months
OPM %6.9%8.9%7.5%3.6%2.4%4.2%7.8%6.5%8.3%8.8%Sign in free for the trailing twelve months
Other income11 Cr9 Cr10 Cr14 Cr7 Cr6 Cr18 Cr5 Cr16 Cr16 CrSign in free for the trailing twelve months
Interest30 Cr33 Cr34 Cr37 Cr27 Cr20 Cr34 Cr56 Cr75 Cr59 CrSign in free for the trailing twelve months
Depreciation57 Cr61 Cr66 Cr66 Cr66 Cr81 Cr97 Cr91 Cr132 Cr147 CrSign in free for the trailing twelve months
Profit before tax13 Cr40 Cr26 Cr-45 Cr-55 Cr26 Cr58 Cr-103 Cr78 Cr146 CrSign in free for the trailing twelve months
Tax %65.6%39.6%90.6%-2.2%-10.2%58.2%48.6%102.9%51.7%26.3%Sign in free for the trailing twelve months
Net profit4 Cr24 Cr2 Cr-46 Cr-61 Cr11 Cr30 Cr3 Cr38 Cr107 CrSign in free for the trailing twelve months
EPS (₹)₹4.11₹21.78₹2.07₹-37.95₹-41.97₹6.97₹18.46₹1.85₹13.62₹38.89Sign in free for the trailing twelve months
Dividend payout %—————0.0%0.0%0.0%71.2%20.5%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital11 Cr12 Cr12 Cr13 Cr15 Cr16 Cr16 Cr16 Cr16 Cr28 Cr
Reserves147 Cr218 Cr218 Cr171 Cr167 Cr212 Cr225 Cr240 Cr655 Cr723 Cr
Borrowings338 Cr336 Cr364 Cr397 Cr362 Cr576 Cr658 Cr701 Cr761 Cr634 Cr
Other liabilities292 Cr367 Cr335 Cr341 Cr488 Cr426 Cr449 Cr413 Cr837 Cr1,137 Cr
Total liabilities787 Cr933 Cr929 Cr922 Cr1,032 Cr1,230 Cr1,349 Cr1,369 Cr2,269 Cr2,521 Cr
Fixed assets (net)357 Cr379 Cr379 Cr371 Cr401 Cr460 Cr473 Cr421 Cr635 Cr624 Cr
CWIP28 Cr16 Cr16 Cr50 Cr31 Cr18 Cr29 Cr27 Cr73 Cr95 Cr
Investments——0.60 Cr0.60 Cr0.58 Cr1 Cr1 Cr2 Cr7 Cr8 Cr
Loans & advances——0.25 Cr0.33 Cr0.34 Cr0.71 Cr0.38 Cr0.09 Cr0.82 Cr0.91 Cr
Inventories126 Cr153 Cr172 Cr157 Cr159 Cr211 Cr254 Cr241 Cr434 Cr497 Cr
Trade receivables188 Cr246 Cr244 Cr191 Cr270 Cr355 Cr420 Cr339 Cr709 Cr796 Cr
Cash & bank6 Cr7 Cr18 Cr18 Cr7 Cr12 Cr28 Cr24 Cr34 Cr46 Cr
Other assets82 Cr133 Cr101 Cr134 Cr163 Cr171 Cr143 Cr316 Cr377 Cr454 Cr
Total assets787 Cr933 Cr929 Cr922 Cr1,032 Cr1,230 Cr1,349 Cr1,369 Cr2,269 Cr2,521 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity88 Cr65 Cr45 Cr69 Cr46 Cr-6 Cr88 Cr120 Cr316 Cr219 Cr
Cash from investing-77 Cr-78 Cr-60 Cr-103 Cr-80 Cr-124 Cr-106 Cr-110 Cr-147 Cr11 Cr
Cash from financing-7 Cr14 Cr26 Cr34 Cr21 Cr134 Cr35 Cr-14 Cr-176 Cr-207 Cr
Net cash flow4 Cr1 Cr11 Cr0.41 Cr-13 Cr5 Cr17 Cr-4 Cr-7 Cr23 Cr
Free cash flow (OCF − Capex)10 Cr-14 Cr-17 Cr-35 Cr-35 Cr-106 Cr-21 Cr-17 Cr131 Cr28 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %8.6%13.0%10.1%-1.2%-5.2%5.6%10.2%-4.8%10.6%14.8%
ROE %2.7%10.5%1.1%-24.8%-33.6%4.7%12.4%1.2%5.6%14.3%
Debtor days53635755787465557675
Inventory days69686777756862628184
Days payable108114849313910384739393
Cash conversion cycle14174039143942446466
OCF / EBITDA %99.0%51.7%38.5%150.7%n.m.-7.7%48.0%82.2%111.9%64.5%
OCF / EBITDA % (3 years)——59.8%62.2%82.9%72.7%44.6%50.2%85.7%85.3%
Debt / equity2.151.461.582.161.992.522.722.741.130.84
Current ratio0.780.900.870.780.780.890.930.860.980.92
Net debt / EBITDA3.762.612.998.2411.527.643.454.632.581.73