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Rane Holdings logs 33% yoy growth to Rs697cr in Q2FY22; Stock soars 2%

Revenues from International customers increased 33% supported by strong off-take of Steering and Light Metal Castings products.

November 04, 2021 6:16 IST | India Infoline News Service
Rane Holdings Limited, the holding Company of Rane group has announced financial performance for the second quarter (Q2FY22) and six months (H1FY22) ended September 30, 2021.

On Thursday during Muhurat Trading, Rane Holdings was trading at Rs640.55 per piece higher by 2.01% on Sensex.

Group Aggregate Performance Q2 FY22
  • Total Revenue was Rs1,395cr in Q2 FY22 compared to Rs1,072.9cr in Q2 FY21, an increase of 30%.
  • EBITDA stood at Rs105.9cr compared to Rs100.3cr during Q2 FY21, an increase of 5.6%
  • EBITDA Margin at 7.6% for Q2 FY22 against 9.4% in Q2 FY21.
  • PBT stood Rs45.5cr for Q2 FY22 Rs14.8cr in Q2 FY21, an increase of 207.7%
Consolidated Financials Q2 FY22
  • Total Revenue was Rs697.3cr in Q2 FY22 compared to Rs524cr in Q2 FY21, an increase of 33.1%
  • EBITDA stood at Rs47.2cr compared to Rs50.3cr during Q2 FY21, a decrease of 6.0%
  • EBITDA Margin at 6.8% for Q2 FY22 against 9.6% in Q2 FY21
  • PBT stood at Rs27.1cr for Q2 FY22 compared to Rs13.2cr in Q2 FY21, an increase of 106.2%
Group Operational Performance Q2FY22
  • Revenue from Indian OE customers grew 28%. Strong demand across vehicle segments except Two Wheelers
  • Revenues from International customers increased 33% supported by strong off-take of Steering and Light Metal Castings products.
  • Revenue from Indian aftermarket segment grew 35%.
"The group companies experienced strong growth across market segments. Increase in commodity prices impacted the profitability. Demand revival continues to be strong however the supply constraints due to semiconductor shortage remains a concern. The businesses are working on cost reduction initiatives to mitigate the inflationary pressures", said L. Ganesh, Chairman & Managing Director, Rane Holdings Ltd.

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Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction

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