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Rane Brake Lining Ltd reports Q4, FY19 results

Posted On: 2019-05-24 10:41:42

Rane Brake Lining Limited (NSE: RBL; BSE Code:532987), a leading manufacturer of Brake Linings, Disc Pads and Clutch Facings today announced financial performance for the financial year (FY19) ended March 31st, 2019.

FY19 Performance

- Total Net Revenue was Rs. 521.0 Crore for FY19 as compared to Rs. 487.2 Crore in the FY18, an increase of 6.9%

- EBITDA stood at Rs. 74.9 Crore as compared to Rs. 80.4 Crore during FY18, a decrease of 6.9%

- EBITDA Margin at 14.4% for FY19 as against 16.5% in FY18

- Net profit (PAT) stood at Rs. 36.5 Crore for FY19 as compared to Rs. 35.7 Crore in FY18, an increase of 2.2%

Corporate Action

- A final dividend of Rs. 9.0 per equity share has been recommended by the Board of Directors on the paid-up capital of 79,14,980 of Rs. 10/- each. The total dividend for the year ending March 31, 2019 is Rs. 15.5/- per equity share including an interim dividend of Rs. 6.5/- per equity share declared on January 28, 2019 and paid on February 15, 2019.

Operating Highlights

- Sales to Indian OE customers grew 7% supported by offtake in utility vehicles, two wheelers and M&HCV segments

- Recorded 8% growth in the Indian aftermarket business, This was supported by new product launches and improved market reach

- EBITDA margin declined by 213 bps

* Adverse forex movement, increase in raw material prices and employee cost resulted in the EBITDA margin drop

"RBL had moderate sales growth in FY19 supported by OE and Aftermarket segment. The forex and material cost pressure led to drop in margins Management is focusing on various initiatives to mitigate cost escalations. We anticipate muted demand environment for next few months." - L. Ganesh, Chairman, Rane Group.

Shares of RANE BRAKE LINING LTD. was last trading in BSE at Rs.600 as compared to the previous close of Rs. 623.55. The total number of shares traded during the day was 2898 in over 317 trades.

The stock hit an intraday high of Rs. 639.1 and intraday low of 595. The net turnover during the day was Rs. 1801822.


Source: Equity Bulls

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