• BSE
  • NSE
    • {{d.cmpname}}
    • {{d.price}}
    • ({{d.PerChg}}%)
Equity | News | Hot Pursuit
Hot Pursuit
Rane Brake rises after Q2 PAT jumps 55% YoY
(14:10, 15 Oct 2020)

The company's profit before tax (PBT) surged 86% year-on-year to Rs 16.7 crore in Q2 September 2020. Total tax expense surged to 5.13 crore in Q2 September 2020 as against Rs 1.5 crore in Q2 September 2019. The result was announced during market hours today, 15 October 2020.

Rane Brake's EBITDA stood at Rs 22.6 crore in Q2 September 2020 compared with Rs 15.2 crore in Q2 September 2019, registering a rise of 48.7%. EBITDA margin improved to 21% in Q2 September 2020 from 13.6% in the same period last year. EBITDA margin improved on favourable material price movement and product mix. There was also an one off selling price increase recovery from customer during the quarter.

“With the gradual opening of the economy, we saw pickup in the demand and OEMs production levels gained momentum anticipating festive sales. The plant operations team effectively handled the production ramp up despite the supply chain and labour availability challenges. The cost reduction measures and lower material prices helped in margin improvement. We remain cautiously optimistic about sustenance of the demand post festive season,” said L. Ganesh, chairman, Rane Group.

Meanwhile, the company's board has approved buyback of the company's fully paid-up equity shares of Rs 10 each, from the open market through stock exchange mechanism, for a maximum price of Rs 825 per equity share upto an aggregate amount not exceeding Rs 22 crore.

Rane Brake Linings is a leading manufacturer of brake linings, disc pads and clutch facings.

Powered by Capital Market - Live News

DB (International) Stock Brokers Limited: SEBI Reg. No.-INZ000179035 / CDSL : IN-DP-CDSL-266-2004 MCX-SX:INE 260643233/21500(CD)
Daga Commodities Private Limited: SEBI Reg. No. INZ000028833
Investor Grievances Email ID: compliance@dbonline.in & investors@dbonline.in
Copyright © 2016 All rights Reserved DB (International) Stock Brokers Ltd.     Designed, Developed and content powered by C-MOTS Infotech( ISO 9001:2015 certified )
"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."         "Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day......................issued in the interest of investors."          "No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
Attention Investors ::
subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries