The Rane Group has celebrated its 75th year business in the country. The group, through its seven companies, manufactures a variety of steering equipment including engine valves, brake linings and steering equipments. The company has won a number of Deming prizes over the years and has a turnover of around Rs 2,200 crores.
It has has been growing at around 10-15 percent in the last decade. “The company is now looking at a 20 percent growth,” said L Ganesh, chairman, Rane Group. “We will improve our R&D spending and take it up to 1.5-2 percent and double our output within the next five years,” he added. “When we introspect, we sometimes think – could we have grown faster? But there is a certain legacy and track record we have in the group. Going forward,
considering market expectations and other factors, the consensus within the organization is that we need to accelerate,” said Ganesh. The company employs 5,500 people across its seven facilities across the country with Chennai as its base.