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.
10 Feb 2023 | 3409 Views | By Autocar Professional Bureau
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 ...
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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.”