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Rane Brake Lining Limited announces Q2 FY2019-20 results

Posted On: 2019-10-22 15:01:16

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 second quarter (Q2FY20) and six months (H1FY20) ended September 30th 2019.

Q2 FY20 Performance

- Total Net Revenue was Rs. 112.1 Crore for Q2 FY20 as compared to Rs. 121 .3 Crore in the Q2 FY19, a decrease of 7.6%

- EBITDA stood at Rs. 15.2 Crore as compared to Rs. 13.1 Crore during Q2 FY19, an increase of 16.3% . EBITDA Margin at 13.6% for Q2 FY20 as against 10.8% in Q2 FY19, an increase of 279 basis point (bps)

- Net profit (PAT) stood at Rs. 7.5 Crore for Q2 FY20 as compared to Rs. 5.3 Crore in Q2 FY19, an increase of 40.5%

H1 FY20 Performance

- Total Net Revenue was Rs. 231.0 Crore for H1 FY20 as compared to Rs. 244.4 Crore in the H1 FY19, a decrease of 5.5%

- EBITDA stood at Rs. 30.9 Crore as compared to Rs. 28.6 Crore during H1 FY19, an increase of 8.1%

- EBITDA Margin at 13.4% for H1 FY20 as against 11.7% in H1 FY19

- Net profit (PAT) stood at Rs. 14.8 Crore for H1 FY20 as compared to Rs. 11.9 Crore in H1 FY19, an increase 24.4%

Operating Highlights

- Sales to OE customer declined 14% due to drop in volumes across segments. Revenue from two-wheeler segment grew 19%.

- Sales to Aftermarket customers grew 1%. Managed flat growth despite sluggish market and stock corrections at dealers.

- EBITDA margin improved 279 bps
* Favourable product mix helped offset higher employee cost
* There was also an one off reversal of provision for bad debts during the quarter

"The volume drop in Q2 was more pronounced than Q1. RBL managed to control major cost elements and post good margin. In the near term, maximizing sales opportunities and controlling cost remains top priorities to navigate the tough market environment." - L. Ganesh, Chairman, Rane Group.

Source: Equity Bulls

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