Rane Engine Valve Limited reports Q4, FY21 earnings

Rane Engine Valve Limited (NSE: RANEENGINE; BSE Code:532988), a leading manufacturer of Engine Valves, Guides and Tappets today announced financial performance for the fourth quarter (Q4 FY21) and full year (FY21) ended March 31st, 2021.

Q4 FY21 Performance

- Total Revenue was Rs. 98.5 Crore for Q4 FY21 compared to Rs. 76.6 Crore in the Q4 FY20, an increase of 28.6%

- EBITDA stood at Rs. 6.3 Crore compared to Rs. 3.7 Crore during Q4 FY20, an increase of 70.1%

- EBITDA Margin at 6.4% for Q4 FY21 against 4.9% in Q4 FY20, an increase of 157 basis points (bps)

- Net Loss stood at Rs. 0.5 Crore for Q4 FY21 compared to Loss of Rs. 3.4 Crore in Q4 FY20

FY21 Performance

- Total Revenue was Rs. 304.9 Crore for FY21 compared to Rs. 358.1 Crore during FY20, a decrease of 14.9%

- EBITDA stood at Rs. -0.7 Crore compared to Rs. 13.3 Crore during FY20, a decrease of 105.6%

- EBITDA Margin at -0.2% for FY21 against 3.7% in FY20

- Net Loss stood at Rs. 6.1 Crore for FY21 compared to Loss of Rs. 16.3 Crore in FY20

Operating Performance for Q4 FY21

- Sales to Indian OE customers grew by 32%.

- Sales to International customers grew by 22%

- EBITDA margin improved by 157 bps - Lower employee expenses helped offset the material cost increase

"The demand environment remained favourable in the Q4 FY21 helping REVL post strong revenue growth. The intensity of second wave and resultant lockdown is likely to impact the growth in Q1 FY22. We continue to prioritise safety of our employees and focus on cost management to navigate the challenging times." - L. Ganesh, Chairman, Rane Group.

Shares of RANE ENGINE VALVE LTD. was last trading in BSE at Rs.306 as compared to the previous close of Rs. 322.7. The total number of shares traded during the day was 20631 in over 616 trades.

The stock hit an intraday high of Rs. 330.45 and intraday low of 300.6. The net turnover during the day was Rs. 6354817.

Source : Equity Bulls

Keywords