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Rane Holdings Ltd. Interim / Quarterly Report 2022
61191_rns_2022-10-28_5543541d-8795-42d8-81a2-5d478a653917.pdf
Interim / Quarterly Report
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Registered Office: Tel : 91 44 2811 2472 " Maithri " URL www.ranegroup.com 132, Cathedral Road, Chennoi 600 086. India.
CIN : L35999TN1936PLC002202
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Rane Hadings Umifi.ed
//Online Submission!)
RHL / SE /0 2022-23
October 28, 2022
| BSE Limited | National Stock Exchange of India Limited |
|---|---|
| Listing Centre | NEAPS |
| Scrip Code: 505800 | Symbol: RANEHOLDIN |
Dear Sir / Madam,
Sub: Outcome of Board Meeting held on October 28, 2022 - under Regulation 30 of SEBI LODR
Ref: Our letter no. RHL/SE/29/2022-23 dated September 29, 2022
This is to inform that the Board of Directors, inter alia, approved the un-audited financial results (standalone & consolidated) of the Company for the quarter and half year ended September 30, 2022, along with Cash Flow Statement of the Company for the half year ended September 30, 2022 as recommended by the audit committee at their respective meeting(s) held today (October 28, 2022).
The un-audited financial results (standalone & consolidated) of the Company for the quarter and half year ended September 30, 2022 is enclosed along with the Limited Review Report on both standalone & consolidated results issued by M/s. BSR & Co., LLP, Chartered Accountants, Statutory Auditors. (Regulation 33). An 'earnings release' for the above results is also enclosed. (Regulation 30).
The un-audited financial results (standalone & consolidated) will be uploaded on the website of the company at www.ranegroup.com and stock exchanges at www.bseindia.com and www.nseindia.com (Regulation 46).
The meeting of the Board of Directors commenced at hrs (1ST) and concluded at 12- :57 hrs (1ST).
We request you to take the above on record and note the compliance under above referred regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR).
Thanking you,
Yours faithfully
For Rane Holdi
"MAI THRI"
cc* CATHEDRAL
Siva Chandrase ° OAD Secretary 4/4/A1-* Encl: a/a
I \
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- Un-audited financial results (standalone & consolidated) for the quarter and half year ended September 30, 2022.
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- Limited Review Report (standalone & consolidated) for the quarter and half year ended September 30, 2022.
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- Earnings release for the quarter and half year ended September 30, 2022.
RANE HOLDINGS LIMI TED
Chennai, India, October 28, 2022 - Rane Holdings Limited (NSE: RANEHOLDIN; BSE Code: 505800), the holding Company of Rane group today announced financial performance for the second quarter (Q2FY23) and six months (H1FY23) ended September 30th, 2022.
Consolidated Q2 FY23 Performance
- Total Revenue was X883.8 Crore in Q2 FY23 compared to X697.3 Crore in Q2 FY22, an increase of 26.7%
- EBITDA stood at X66.8 Crore compared to X47.2 Crore during Q2 FY22, an increase of 41.5%
- EBITDA Margin at 7.6% for Q2 FY23 against 6.8% in Q2 FY22
- PAT stood at X23.3 Crore for Q2 FY23 compared to X16.5 Crore in Q2 FY22, an increase of 41.1%
Consolidated H1 FY23 Performance
- Total Revenue was X1,704.9 Crore in H1 FY23 compared to X1,223.1 Crore in H1 FY22, an increase of 39.4%
- EBITDA stood at X124.8 Crore compared to X70.6 Crore during H1 FY22, an increase of 76.8%
- EBITDA Margin at 7.3% for H1 FY23 against 5.8% in H1 FY22
- PAT stood at X43.9 Crore for H1 FY23 compared to X37.3 Crore in H1 FY22, an increase of 17.8%
Operational Performance - Q2 FY23
- Group Aggregate Sales increased by 21% from Rs. 1,357.2 Cr in Q2 FY22 to Rs. 1,639.2 Cr in Q2 FY23
- oRevenue from Indian OE customers grew 23% supported by strong growth across vehicle segments
- o Revenues from International customers increased 24% driven by higher offtake for occupant safety, light metal casting and valve train products
- oRevenue from Indian aftermarket segment declined 2%
- Despite increase in material prices, EBITDA margin expanded by 79 bps due to higher volumes and improved operational performance
MANAGEMENT COMMENT
and tightening monetary policy." "The group companies posted strong revenue growth supported by favourable demand from Indian OE and Export customers. Higher volumes and improved operational performance helped to mitigate material price increases. The demand environment remains strong with the ongoing festive 01_67/v - n season, however we remain cautious given the global economic situation/cA"P TAAHI ET :11
- L. Ganesh, Chairman & Managing Director, Rane Holdings Ltd.
BUSINESS HIGHLIGHTS
| CONSOLIDATED FINANCIAL PERFORMANCE | ||||
|---|---|---|---|---|
| Particulars | Q2FY23 | Q2FY22 | pyy. | |
| Total Revenue | 883.8 | 697.3 | 26.7% | |
| EBITDA | 66.8 | 47.2 | 41.5% | |
| Margin (%) | 7.6% | 6.8% | 79 bps | |
| PAT | 23.3 | 16.5 | 41.1% |
| Particulars | H1FY23 | H1FY22 | YOY% |
|---|---|---|---|
| Total Revenue | 1,704.9 | 1,223.1 | 39.4% |
| EBITDA | 124.8 | 70.6 | 76.8% |
| Margin (%) | 7.3% | 5.8% | 155 bps |
| PAT | 43.9 | 37.3 | 17.8% |
(In Crore, unless otherwise mentioned)
GROUP AGGREGATE SALES (Q2 FY23)
BY MARKET (%)
BY VEHICLE SEGMENT (%)
CONSOLIDATED STATEMENT OF PROFIT AND LOSS
| p | P | • | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 879.3 | 817.1 | 7.6% | 691.8 | 27.1% | 1,696.4 | 1,212.5 | 39.9% |
| Other Income | 4.5 | 3.9 | 14.0% | 5.5 | -18.2% | 8.4 | 10.6 | -20.4% |
| Total Revenue | 883.8 | 821.1 | 7.6% | 697.3 | 26.7% | 1,704.9 | 1,223.1 | 39.4% |
| Expenses | ||||||||
| -Cost of Material Consumed | 532.4 | 479.2 | 11.1% | 407.8 | 30.5% | 1,011.5 | 716.4 | 41% |
| -Purchase of stock-in-trade | 2.4 | 2.3 | 5.6% | 2.3 | 7.0% | 4.8 | 3.7 | 27.0% |
| -Changes in inventories | -22.5 | -6.5 | -20.0 | -29.0 | -48.2 | |||
| -Employee Benefit Expense | 131.1 | 128.7 | 1.8% | 120.1 | 9.2% | 259.8 | 235.4 | 10.4% |
| -Finance Cost | 10.6 | 8.4 | 26.0% | 9.4 | 13.5% | 19.1 | 16.4 | 16.1% |
| -Depreciation & Amortization | 32.9 | 33.3 | -1.0% | 32.0 | 2.8% | 66.2 | 63.2 | 4.8% |
| -Other Expenditure | 173.5 | 159.5 | 8.8% | 139.9 | 24.0% | 333.0 | 245.1 | 35.8% |
| Total Expenses | 860.5 | 804.8 | 6.9% | 691.4 | 24.5% | 1,665.3 | 1,232.1 | 35.2% |
| PBT before share of profit / (loss) of JV & associates | 23.3 | 16.3 | 43.0% | 5.9 | 297.3% | 39.6 | -9.0 | 539.6% |
| Share of Profit/ (loss) of JV and Associate (includes share of exceptional items, net of taxes) |
13.3 | 15.4 | -13.5% | 13.0 | 2.4% | 28.8 | 19.4 | 48.2% |
| PBT before Exceptional items | 36.6 | 31.7 | 15.5% | 18.9 | 93.9% | 68.3 | 10.4 | 556.4% |
| Exceptional Item | -1.2 | -1.1 | -10% | 8.2 | -114% | -2.2 | 36.3 | -106.1% |
| PBT | 35.5 | 30.7 | 15.7% | 27.1 | 30.7% | 66.1 | 46.7 | 41.5% |
| Tax Expense | 12.2 | 10.1 | 20.8% | 10.6 | 14.6% | 22.2 | 9.5 | 135.0% |
| PAT | 23.3 | 20.6 | 13.2% | 16.5 | 41.1% | 43.9 | 37.3 | 17.8% |
KEY CONSOLIDATED BALANCE SHEET ITEMS
| Particulars | As at 30.09.2022 | As at 31.03.2022 |
|---|---|---|
| Non-current assets | 1,394.2 | 1,370.9 |
| -Property, Plant and Equipmer | 756.8 | 755.0 |
| -Financial Assets | 96.5 | 110.5 |
| Current assets | 1,182.9 | 1,105.2 |
| - Inventories | 449.6 | 400.0 |
| -Trade receivables | 627.5 | 581.7 |
| -Cash and cash equivalents | 27.8 | 27.2 |
| Total Assets | 2,577.1 | 2,476.1 |
| Shareholders Fund | 810.9 | 776.2 |
| Minority Interest | 229.9 | 229.3 |
| Non-current liabilities | 390.5 | 396.4 |
| -Long-term borrowings | 321.9 | 324.3 |
| Current liabilities | 1,145.9 | 1,074.2 |
| -Short-term borrowings | 488.1 | 452.5 |
| -Trade payables | 512.2 | 467.6 |
| Total Liabilities | 1,536.4 | 1,470.6 |
| Total Equity and Liabilities | 2,577.1 | 2,476.1 |
(In Crore, unless otherwise mentioned. The sum of sub-segment amounts may not equal the tot 7 unding off)
ABOUT RANE HOLDINGS LIMITED
ABOUT RANE GROU
Rane Holdings Limited (RHL) is the holding company of Rane Group. RHL owns the trademark in Rane and provides a wide range of services to group Companies. These include employee training, development, investor services, business development and information system support.
Headquartered in Chennai, h criA;-Ran , p is engaged primarily in manufacturing auto componen er five decades. Rane Group is a preferred supplier to major OEMs in India and abroad. Through its group companies, it provides Steering and Suspension systems, Friction materials, Valve train components, Occupant safety systems, Light metal casting products and Connected mobility solutions. Its products serve a variety of industry segments including Passenger Vehicles, Commercial Vehicles, Farm Tractors, Two-wheelers, Three-wheelers, Railways and Stationery Engines.
1.1AITHRI" 132, -3T[-fED
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IF YOU HAVE ANY QUESTIONS OR REQUIRE FURTHER INFORMATION, PLEASE FEEL FREE TO CONTACT: INVESTORSERVICESARANEGROUP.COM OR DIWAKAR.PINGLE IN.EY.COM
Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
