Rane Brake Lining Q3 revenue registers 12.7% growth

Tier-1 supplier of brake linings and disc pads saw its nine-month turnover scale by 22.1 percent owing to increased customer demand from PV and two-wheeler OEMs.

Autocar Pro News Desk By Autocar Pro News Desk calendar 10 Feb 2023 Views icon2678 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Rane Brake Lining Q3 revenue registers 12.7% growth

Chennai-based Rane Brake Lining which is a key component supplier of brake linings, disc pads and clutch facings to major automakers in India, registered a 12.7 percent year-on-year (YoY) uptick in its Q3 FY2023 revenues which closed at Rs 154.6 crore (Q3 FY2022: Rs 137.2 crore). 

For the nine-month period between April and December 2022, the company's revenues of Rs 441.2 crore scaled relatively higher with a YoY growth rate of 22.1 percent (April-December 2021: Rs 361.2 crore). 

Rane Brake Lining's Q3 EBITDA stood at Rs 17.4 crore, registering a noticeable 28 percent YoY uptick (Q3 FY2022: 13.6 crore), while its profit after tax (PAT) for the quarter closed at Rs 9.2 crore (Q3 FY2022: Rs 6.9 crore / +33.5%). The EBITDA and PAT for the April-December 2022 period stood at Rs 43.6 crore and Rs 21.4 crore, respectively. 

As per the company, the Q3 growth comes on the back of an 18 percent uptick in its sales to OEM customers, particularly two-wheeler and passenger vehicle makers. Rane Brake Lining's aftermarket volumes also registered a 10 percent YoY uptick in the October-December 2022 quarter. 

According to L Ganesh, chairman, Rane Group, "RBL had a good quarter supported by favourable demand and improved operational performance. However, sustained higher material cost remains a challenge and the management is executing various operational improvement initiatives to mitigate the impact. Though the demand environment in India remains strong, we remain cautious given the evolving economic scenario across major global economies.”

RELATED ARTICLES
Varroc Engineering secures Rs 8,700 crore worth new life-time orders in FY24

auther Autocar Pro News Desk calendar17 May 2024

The company further disclosed that this new order win corresponds to an annual peak value of approximately Rs 1,500 cror...

Mahindra Logistics appoint Vishal Sharma as VP- transport & procurement

auther Autocar Pro News Desk calendar17 May 2024

Mahindra Logistics appoint Vishal Sharma as VP- transport & procurement

M&M expects its logistics business to grow 5x over next five years

auther Autocar Pro News Desk calendar17 May 2024

"It's in an industry that is going to show tremendous growth in India," Shah said.