Rane (Madras) Limited  Revenue 7297.2 Crore for Q1 FY20 as compared to {347.5 Crore in Q1 FY19, a decrease of 14.5%

Rane (Madras) Limited  Revenue 7297.2 Crore for Q1 FY20 as compared to {347.5 Crore in Q1 FY19, a decrease of 14.5%

 

 

Rane (Madras) Limited , a leading manufacturer of steering and suspension products and die castirrg components today announced its standalone and consolidated financial performance for the first quarier (O1 FY20) ended June 30, 2019

Standalone Q1 FY20 Performance

  • Total Net Revenue was 7297.2 Crore for Q1 FY20 as compared to {347.5 Crore in Q1 FY19, a decrease of 14.5%
  • EBITDA stood at {25,5 Crore as compared to {39.’1 Crore during Q1 FY19, a decrease o’n 34.7%
  • EBITDA lVlargin at 8.6% for Q1 FY20 as against 11.2%in Q1 FY19, a decline of 265 basis points (bps)
  • Net profit (PAT)stood at {3.2 Crore for Q1 FY20 as compared to t13.4 Crore in Q1 FY19, a decrease of 75.9%

Consolidated Q1 FY20 Pedormance

  • Total Net Revenue was {346.2 Crore for Q1 FY20 as compared to {396.7 Crore in Q1 FY19, a decrease of 12.7%
  • EBITDA stood at T16.5 Crore as compared to t34.0 Crore during Q1 FY19, a decrease of 51 .4o/o
  • EBITDA Margin at4.B% for Q1 FY20 as against 8.6% in Q1 FY19, a decline of 380 basis points (bps)
  • Net loss stood at {10.3 Crore for Q1 FY20 as compared to Net Profit of {4.1 Crore in Q1 FY19, a decrease of 35’1 .8%

Operating Highlights for Q1 FY20 – Standalone

  • Sales to lndian OE customers declined 18%. Volume drop across segments particularly Farm Tractors and Commercial Vehicles
  • Sales to lnternational customers declined 1 1% driven by drop in volume for Die casting products
  • Sales to lndian Afterrnarket customers grew 6% Lower volume and unfavourable mix resulted in 265 bps drop in EBITDA margin

Operating Highlights for Q1 FY20 – Consolidated

  • Rane Precision Die Casting (RPDC) commenced supplies on new programs.
    This compensated for drop in volume with few existing customers.
  • EBITDA loss widened on account of
    1. Change in product mix resulting in higher rnaterial cost.
    2. Higher cost on repairs and maintenance.

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