Rane (Madras) Limited is a prominent automotive component group based in Chennai, founded in 1960, and is part of the larger Rane Group of Companies. It is a subsidiary of Rane Holdings Limited and is publicly listed on the National Stock Exchange of India Limited (NSE symbol: RML) and BSE Limited (BSE Symbol: RML; Scrip Code: 532661).
Rane Holdings Ltd, the promoter of Rane (Madras) Ltd, holds a significant stake in the company. As of April 2025, promoter holding stands at 70.45%, a slight decrease from 72.65% in September 2024. The company has established itself as a key player in the Indian automotive component manufacturing sector, maintaining long-term relationships with major automotive manufacturers and expanding its global footprint.
The company operates through two primary divisions: the Steering and Linkages division and the Light Metal Castings division. It manufactures a diverse range of automotive products, including steering and suspension systems, brake components, engine components, and light metal casting components.
Key Products:
- Steering & Linkages Division: Manual steering gears, hydrostatic steering systems, steering and suspension linkage products (e.g., tie rod assemblies, drag link assemblies, center link assemblies, gear shift ball joints).
- Light Metal Castings Division: Low-porosity, high-quality aluminum die-castings such as steering housings and engine case covers.
Rane (Madras) Ltd's products serve various industry segments, including passenger vehicles, commercial vehicles, farm tractors, two-wheelers, three-wheelers, railways, and stationary engines. Its clientele includes major automobile companies such as Ashok Leyland, Volvo, M&M, Tafe, and Tata, with Tata Motors being a significant customer.
As the largest entity within the Rane Group, Rane (Madras) Ltd boasts five manufacturing plants across India:
- Chennai and Kancheepuram, Tamil Nadu: Chennai caters to light commercial vehicle, heavy commercial vehicle, and utility vehicle segments, while Kancheepuram focuses on the export market.
- Mysore, Karnataka: Caters to the tractor and commercial vehicle segments.
- Thirubuvanai, Pondicherry: Serves the passenger car segment.
- Pantnagar, Uttarakhand: Exclusively supplies gears to Tata Motors Ltd.
The broader Rane Group has manufacturing facilities across 25 locations in India and one in the USA. Rane (Madras) Ltd manufactures high-pressure light metal casting components from its facility in Kentucky, United States, and sells its products across more than 30 countries, highlighting its strong global presence.
Rane (Madras) Ltd's financial performance reflects its position in the automotive component sector.
Key Financial Metrics:
- Market Capitalization: ₹2,393 crore (as of recent data).
- Promoter Holding: 70.45% (Rane Holdings Ltd, as of April 2025).
- 52-Week High Share Price: ₹1,525.75
- 52-Week Low Share Price: ₹577.95
- Consolidated Net Profit: ₹37.6 crore (down 31.2% YoY).
- Total Revenue: ₹3,421.4 crore (down 2.5% YoY).
- Full Year Net Profit (Standalone): Declined 31.25% to ₹37.65 crore in FY2025, compared to ₹54.76 crore in FY2024.
- Full Year Sales (Standalone): Declined 1.65% to ₹3405.75 crore in FY2025, compared to ₹3462.73 crore in FY2024.
- Net Profit: Declined 39.41% to ₹6.52 crore, compared to ₹10.76 crore in Q4 FY2023-24.
- Sales: Rose 5.66% to ₹901.34 crore, compared to ₹853.09 crore in Q4 FY2023-24.
- Net Loss: Reported at ₹0.22 crore, as against a net profit of ₹9.09 crore in Q3 FY2023-24.
- Sales: Rose 0.11% to ₹521.62 crore, compared to ₹521.05 crore in Q3 FY2023-24.
The Board of Rane (Madras) approved the appointment of Harish Lakshman (DIN:00012602) as Managing Director for a five-year period, effective April 1, 2025. Harish Lakshman holds a Bachelor's degree in Mechanical Engineering from BITS, Pilani, and a Master's degree in Business from Krannert School of Management at Purdue University, USA. With 30 years of industry experience, he has a strong track record in marketing, operations, export business development, and guiding corporate functions, driving the Rane Group's mission for accelerated profitable growth.
The board of Rane (Madras) has recommended a dividend of ₹10 per equity share for the financial year 2024-25.
The company's board, with shareholder approval in May 2025, has approved the sale of approximately 3.48 acres of land out of a 4.5-acre plot in Velachery, Chennai, to Canopy Living LLP. Canopy Living LLP is a joint venture between real estate players Arihant Foundations & Housing and Prestige Estates Projects. The sale value and completion timelines have not been disclosed. This move indicates strategic asset management to potentially unlock value for the company.
Rane (Madras) is a preferred supplier to major OEMs and Aftermarket in India and abroad, reinforcing its strong strategic position and reputation for manufacturing excellence in the automotive component sector.
