Rane (Madras) Limited — Updates, 30-01-2025: Press Release

The Board of Directors of Rane (Madras) Limited has approved the un-audited financial results for the quarter and nine months ended December 31, 2024. Standalone revenue stood at 522.4 Cr, reflecting a marginal increase of 0.2% year-on-year, while EBITDA dropped by 20.5% to 40.1 Cr, with the EBITDA margin declining to 7.7%. The PAT also decreased significantly to 2 Cr from 11.2 Cr in Q3 FY24.

Consolidated figures show a similar trend, with revenue at 523.7 Cr and a net loss of 0.2 Cr, compared to a profit of 9.1 Cr in the corresponding quarter last year. Sales to Indian OE customers fell by 4%, attributed to reduced demand in the CV and FT segments, while export sales grew by 2% and sales to the Indian Aftermarket rose by 14%. A one-off provision for obsolete inventory and forex losses negatively impacted margins, indicating challenges that may require close monitoring. Harish Lakshman has been appointed as the new Managing Director, effective April 1, 2025, pending member approval.