Chennai, India, February 9, 2017– Rane Holdings Limited (NSE: RANEHOLDIN; BSE Code:505800), the holding Company of Rane group today announced financial performance for the third quarter (Q3FY17) and nine months (9MFY17) ended December 31st, 2016
Consolidated Q3FY17 Performance*
§ Total Operating Income was ₹713.82 Crore for Q3FY17 as compared to ₹568.41 Crore in the Q3FY16, an increase of 26%
§ EBITDA stood at ₹76.22 Crore as compared to ₹58.93 Crore during Q3FY16, an increase of 29%
§ EBITDA Margin at 10.7% for Q3FY17 as against 10.4% in Q3FY16
§ Net profit (PAT) stood at ₹20.78 Crore for Q3FY17 as compared to ₹11.36 Crore in Q3FY16, an increase of 83%
Consolidated 9M FY17 Performance*
§ Total Operating Income was₹2,142.69 Crore for 9MFY17 as compared to ₹1,719.82 Crore in the 9MFY16, an increase of 25%
§ EBITDA stood at ₹235.33 Crore as compared to ₹179.88 Crore during 9MFY16, an increase of 31%
§ EBITDA Margin at 11.0% for 9MFY17 as against 10.5% in 9MFY16
§ Net profit (PAT) stood at ₹93.26 Crore for 9MFY17 as compared to ₹43.63 Crore in 9MFY16, an increase of 114%
Corporate Action
§ An interim dividend of ₹3.50/- per equity share has been declared by the Board of Directors on the paid-up capital of 1,42,77,809equity shares of ₹10/- each. The record date for payment of interim dividend is February 21, 2017.
Group’s Key Business Highlights for Q3 FY17
§ Revenues from Indian OE customers went up by 21% YoY
o Group companies benefitted by the supplies to successful new passenger vehicle models and increased offtake in LCV and M&HCV segment
o Growth in the Farm Tractors segment is limited mainly due to higher growth in unserved markets
§ Revenues from international customers grew 85% YoY which also includes the overseas acquisition by Rane (Madras) Limited
§ Indian aftermarket business was impacted by demonetization
§ Continued focus on operational cost reduction and lower finance costs helped in improving the overall profitability for the quarter
“We saw robust performance in Q3 FY17 despite the demonetization impact on the Indian automotive segment. We believe the market environment will be conducive for growth in Q4. We continue to work on several initiatives to improve our operational performance and drive margin expansion”
- L. Ganesh, Vice Chairman, Rane Holdings Ltd.