Views on Rane Brake Liners 1QFY2016 Results: Angel Broking

Views of Mr. Bharat Gianani (Sr. Research Analyst - Automobile, Angel Broking) on Rane Brake Liners 1QFY2016 Results:

"Rane Brake Liners (RBL) 1QFY2016 results were in line with our estimates. During the quarter, RBL revenues grew marginally 2% yoy to INR 103.6 cr (marginally below our estimate of INR 110 cr). Moderate growth in both the OEM (grew 4% yoy) as well as the aftermarket segment (grew 3% yoy) led to a marginal increase in the topline. Operating margins expanded slightly 30 bp yoy to 10.7% and were in line. Reduction in raw material costs led to improvement in the margins. Higher other income at INR 0.7 cr boosted the profitability. Net Profit at INR 4.8 cr came in line with our expectations. Currently, we have ACCUMULATE rating on the stock."

Shares of RANE BRAKE LINING LTD. was last trading in BSE at Rs.348 as compared to the previous close of Rs. 331.5. The total number of shares traded during the day was 2362 in over 91 trades.

The stock hit an intraday high of Rs. 349.9 and intraday low of 340. The net turnover during the day was Rs. 816639.

Source : Equity Bulls

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