Rane Madras

A part of the Rane group, the auto components company makes steering and suspension linkage products and steer gear products. With the autos sector growing through some troubled times in Q2, this has got reflected in company’s performance. The company’s growth in domestic OEM and aftermarket was negative though exports  grew 23% on a YoY. For Q2Fy13, on a YoY, the company posted a net sales at Rs.155 crore, down 3%. Operating costs were down 3% and interest cost has kept constant over a few quarters at around Rs.3 crore. It ended the quarter with a  net profit at Rs.6.45 crore, down 7.5%.

As at 30th Sept 2012, the company’s total debt stood at Rs.103 crore and cash was at just Rs.4 crore.  Promoters holding is at 55.36% of which Rane Holdings hold 53.85%. Not a single institution has a stake in the company. With Q3 for auto sector expected to be better than Q2, given the festive season demand uptake, the company could also have a better Q3.