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Rane Brake Lining Q1 FY24 Results: PAT increase 70.5% YoY
Rane Brake Lining Limited's Q1 FY24 Results: PAT increases by 70.5% YoY to ₹8.8 crore; EBITDA grows by 46.6% to ₹18.1 crore.
by Damodharan N
Updated Jul 23, 2024
Table of Content
Rane Brake Lining Limited (NSE: RBL; BSE Code: 532987) has announced its financial results for the first quarter of FY24, ending June 30, 2024. The company reported a significant increase in Profit After Tax (PAT), which rose by 70.5% year-on-year (YoY) to ₹8.8 crore, compared to ₹5.2 crore in Q1 FY23.
Total revenue for the quarter stood at ₹160.5 crore, up 4.9% from ₹153.1 crore in the same period last year. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) grew substantially by 46.6% YoY to ₹18.1 crore, with the EBITDA margin improving to 11.3% from 8.1% in Q1 FY23.
Key highlights for Q1 FY24 include an 8% increase in sales to Original Equipment (OE) customers, driven by strong demand from two-wheelers and passenger vehicles. However, sales to aftermarket customers decreased by 4% due to market liquidity issues and high distributor inventory.
Export sales saw a notable 29% increase, with successful orders from the US and new dealer appointments in Kenya and Uganda.
The improved EBITDA margin was primarily due to operational enhancements and favorable forex conditions, although it was slightly offset by an unfavorable product mix.
Source: Here
Rane Brake Q1 FY24 Results
For Q1 FY24, Rane Brake Lining Limited reported a total revenue of ₹160.5 crore, up 5% from ₹153.1 crore in Q1 FY24 but down 14% from ₹186.7 crore in Q4 FY24. EBITDA was ₹18.1 crore, a significant increase of 46.6% YoY. PAT reached ₹8.8 crore, marking a 70.5% increase from ₹5.2 crore in Q1 FY24 but a 43% decline from ₹15.4 crore in Q4 FY24. The company's expenses decreased overall by 11% from Q4 FY24, driven by lower costs of material consumed and other expenditures.
|
Particulars |
Q1 FY24 |
Q4 FY23 |
QoQ% |
Q1 FY23 |
YoY% |
|
Income from Operations |
₹159.9 Cr |
₹186.2 Cr |
-14% |
₹152.3 Cr |
5% |
|
Other Income |
₹0.6 Cr |
₹0.5 Cr |
10% |
₹0.7 Cr |
-22% |
|
Total Revenue |
₹160.5 Cr |
₹186.7 Cr |
-14% |
₹153.1 Cr |
5% |
|
Expenses |
|||||
|
- Cost of Material Consumed |
₹92.0 Cr |
₹95.6 Cr |
-4% |
₹83.3 Cr |
10% |
|
- Purchase of Stock-in-Trade |
-₹10.1 Cr |
₹2.4 Cr |
-626% |
₹1.9 Cr |
-642% |
|
- Changes in Inventories |
₹25.4 Cr |
₹24.3 Cr |
5% |
₹23.0 Cr |
11% |
|
- Employee Benefit Expense |
₹0.0 Cr |
₹6.1 Cr |
-100% |
₹6.3 Cr |
-3% |
|
- Finance Cost |
₹35.1 Cr |
₹35.8 Cr |
-2% |
₹32.6 Cr |
8% |
|
- Depreciation & Amortization |
₹148.5 Cr |
₹164.4 Cr |
-10% |
₹145.9 Cr |
2% |
|
- Other Expenditure |
₹12.0 Cr |
₹22.3 Cr |
-43% |
₹7.2 Cr |
66% |
|
Total Expenses |
₹145.9 Cr |
₹164.4 Cr |
-11% |
₹145.9 Cr |
0% |
|
PBT before Exceptional Items |
₹12.0 Cr |
₹21.1 Cr |
-43% |
₹7.2 Cr |
66% |
|
Exceptional Items |
-₹1.2 Cr |
₹0.0 Cr |
- |
₹0.0 Cr |
- |
|
PBT |
₹12.0 Cr |
₹21.1 Cr |
-43% |
₹7.2 Cr |
66% |
|
Tax Expense |
₹3.1 Cr |
₹5.7 Cr |
-45% |
₹2.0 Cr |
55% |
|
PAT |
₹8.8 Cr |
₹15.4 Cr |
-43% |
₹5.2 Cr |
70% |
Note: The sum of the sub-segment amounts may not equal the total amounts due to rounding off.
Rane Brake Lining
Rane Brake Lining is a part of the Rane Group, founded in 1929 and headquartered in Chennai, India. The company manufactures steering and suspension systems, friction materials, valve train components, occupant safety systems, and light metal casting products.
Rane Brake Lining has achieved significant recognition for its quality management, having won the Deming Prize in 2003 and the Deming Grand Prize in 2013. The company emphasizes technology development, rigorous testing, and continuous improvement.
It partners with major global auto manufacturers and operates modern manufacturing facilities that meet international standards.
Rane Brake Lining Q1 FY24 Results: PAT increase 70.5% YoY - FAQs
1. What was Rane Brake Lining Limited's PAT for Q1 FY24?
Rane Brake Lining Limited's Profit After Tax (PAT) for Q1 FY24 was ₹8.8 crore.
2. How much did the PAT increase year-on-year (YoY) for Q1 FY24?
The PAT increased by 70.5% year-on-year (YoY) for Q1 FY24.
3. What was the EBITDA for Q1 FY24?
The EBITDA for Q1 FY24 was ₹18.1 crore.
4. How much did the EBITDA grow YoY for Q1 FY24?
The EBITDA grew by 46.6% year-on-year (YoY) for Q1 FY24.
5. What was the total revenue for Q1 FY24?
The total revenue for Q1 FY24 was ₹160.5 crore.
6. How much did the total revenue increase YoY for Q1 FY24?
The total revenue increased by 4.9% year-on-year (YoY) for Q1 FY24.
7. What was the revenue for Q1 FY23?
The revenue for Q1 FY23 was ₹153.1 crore.
8. What was the PAT for Q1 FY23?
The Profit After Tax (PAT) for Q1 FY23 was ₹5.2 crore.
9. What was the revenue for Q4 FY23?
The revenue for Q4 FY23 was ₹186.7 crore.
10. What was the PAT for Q4 FY23?
The Profit After Tax (PAT) for Q4 FY23 was ₹15.4 crore.
11. How much did the revenue decline quarter-on-quarter (QoQ) from Q4 FY23 to Q1 FY24?
The revenue declined by 14% quarter-on-quarter (QoQ) from Q4 FY23 to Q1 FY24.
12. How much did the PAT decline QoQ from Q4 FY23 to Q1 FY24?
The PAT declined by 43% quarter-on-quarter (QoQ) from Q4 FY23 to Q1 FY24.
13. What was the income from operations for Q1 FY24?
The income from operations for Q1 FY24 was ₹159.9 crore.
14. What was the other income for Q1 FY24?
The other income for Q1 FY24 was ₹0.6 crore.
15. How much did the other income change YoY for Q1 FY24?
The other income decreased by 22% year-on-year (YoY) for Q1 FY24.
16. What were the total expenses for Q1 FY24?
The total expenses for Q1 FY24 were ₹145.9 crore.
17. How much did the cost of material consumed change QoQ from Q4 FY23 to Q1 FY24?
The cost of material consumed decreased by 4% quarter-on-quarter (QoQ) from Q4 FY23 to Q1 FY24.
18. What was the purchase of stock-in-trade for Q1 FY24?
The purchase of stock-in-trade for Q1 FY24 was -₹10.1 crore.
19. What were the changes in inventories for Q1 FY24?
The changes in inventories for Q1 FY24 were ₹25.4 crore.
20. What was the employee benefit expense for Q1 FY24?
The employee benefit expense for Q1 FY24 was ₹0.0 crore (likely a rounding issue).
21. What was the finance cost for Q1 FY24?
The finance cost for Q1 FY24 was ₹35.1 crore.
22. What was the depreciation and amortization expense for Q1 FY24?
The depreciation and amortization expense for Q1 FY24 was ₹148.5 crore.
23. What was the other expenditure for Q1 FY24?
The other expenditure for Q1 FY24 was ₹12.0 crore.
24. What was the PBT before exceptional items for Q1 FY24?
The Profit Before Tax (PBT) before exceptional items for Q1 FY24 was ₹12.0 crore.
25. What were the exceptional items for Q1 FY24?
The exceptional items for Q1 FY24 were -₹1.2 crore.
26. What was the tax expense for Q1 FY24?
The tax expense for Q1 FY24 was ₹3.1 crore.
27. what percentage did sales to Original Equipment (OE) customers increase in Q1 FY24?
Sales to Original Equipment (OE) customers increased by 8% in Q1 FY24.
28. What percentage did sales to aftermarket customers decrease in Q1 FY24?
Sales to aftermarket customers decreased by 4% in Q1 FY24.
29. What percentage did export sales increase in Q1 FY24?
Export sales increased by 29% in Q1 FY24.
30. What contributed to the improved EBITDA margin in Q1 FY24?
The improved EBITDA margin in Q1 FY24 was primarily due to operational enhancements and favorable forex conditions.