Rane (Madras) Ltd. — Earnings Release 2025

Jul 24, 2024

Digitally signed by SUBHA SHREE SRIDHARAN Date: 2024.07.24 12:53:32 +05'30'

SUBHA SHREE SRIDHARAN

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RANE (MADRAS) LIMITED
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Q1 FY25 Earnings Release
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Chennai, India, July 24, 2024

Rane (Madras) Limited (NSE: RML; BSE Code: 532661), a leading manufacturer of steering and suspension products and light metal casting components today announced its standalone and consolidated financial performance for the first quarter (Q1FY25) ended June 30[th] , 2024.

Standalone Q1 FY25 Performance

FINANCIAL SUMMARY

• Total Revenue was 522.3 Crore for Q1 FY25 compared to 532.1 Crore in the Q1 FY24, a decrease of 1.8%

• EBITDA stood at 44.9 Crore for Q1 FY25 compared to 51.9 Crore during Q1 FY24, a decrease of 13.4%

• EBITDA Margin at 8.6% for Q1 FY25 against 9.7% in Q1 FY24

• PAT stood at 7.6 Crore for Q1 FY25 compared to 3.0 Crore in Q1 FY24, an increase of 154.2%

Consolidated Q1 FY25 Performance

• 523.5 Crore for Q1 FY25

• the Q1 FY24, a decrease of 11.3%

• 590.0 Crore in

• Q1 FY25 numbers are strictly not comparable due to divestment of LMCA on 14[th]

• 42 Crore for Q1 FY25 44 Crore during Q1

• FY24, a decrease of 4.5%

• EBITDA Margin at 8.0% for Q1 FY25 against 7.5% in Q1 FY24

• 3.4 Crore for Q1 FY25 compared to Net Loss of 14.5 Crore

• in Q1 FY24

Operating Highlights for Q1 FY25

Sales to Domestic OE customers had muted growth of 1%. Growth in PV segment was offset by drop in FT volume

• Export Sales declined 5%. Lower off-take of steering products particularly in the ATV segment.

• Sales to Indian Aftermarket customers grew by 1%.

• EBITDA margin declined by 114 bps on account of inflationary pressure on select materials and freight.

• There was an exceptional expense of Rs. 18.75 crores made towards provision for one time warranty costs and VRS in Q1 FY24.

• There is a forex loss of Rs. 2.56 crores relating to the Mexican subsidiary which has impacted the consolidated EBITDA for Q1 FY25.

BUSINESS SPLIT (Q1 FY25)

BY MARKET (%)

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Intl OEM & India
Aftermarket, OEM&OES,
31 58
India
Aftermarket,
11
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BY VEHICLE SEGMENT (%)

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FT, 12
CV, 20
PV, 68
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R A NE ( M A D R A S ) L I M I T E D | W W W . R A N E G R O U P . C O M | Q 1 F Y 2 0 2 5 E A RN I N G S R E L E A S E | P A G E 1 O F 2

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ore, unless otherwise mentioned. The sum of the sub-segment amounts may not equal the total amounts due to rounding off)

ABOUT RANE (MADRAS) LIMITED

Established in 1960, Rane (Madras) Limited (RML) is part of the Rane Group of Companies, a leading auto component group based out of Chennai. RML has two divisions namely Steering and Linkages Division (SLD) and Light Metal Casting India Division (LMCI). SLD manufactures mechanical steering gears, hydrostatic steering systems and steering and suspension linkage products. LMCI manufactures low porosity, high-quality light metal casting such as steering housings and engine case covers. Through its overseas subsidiary Rane Light Metal Castings Inc. (RLMCA), RML manufactures high pressure light metal casting components from its facility in Kentucky, USA.

ABOUT RANE GROUP

Headquartered in Chennai, India, Rane Group is engaged primarily in manufacturing auto components for well over 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 and Light Metal casting components. Its products serve a variety of industry segments including Passenger Vehicles, Commercial Vehicles, Farm Tractors, Two-wheelers, Three-wheelers, Railways and Stationery Engines.

IF YOU HAVE ANY QUESTIONS OR REQUIRE FURTHER INFORMATION,

PLEASE FEEL FREE TO CONTACT: INVESTORSERVICES@RANEGROUP.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.

R A NE B R A K E L I N I N G L I M I T E D R A NE ( M A D R A S ) L I M I T E D | ~~|~~ W W W . R A N E G R O U P . C O M ~~W W W . R A N E G R OU P . C O~~ M| Q 1 F Y 2 0 2 5 E A R N I N G S R E L E A S E | P A G E | Q 1 F Y 2 0 2 3 E A R N I N G S R E L E A S E | P A G E 2 O F 2 2 O F 2