BSE: 532988 | NSE: RANEENGINE | Auto Ancillary | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Rane Engine Valve Ltd is a below average quality company.
The key valuation ratios of Rane Engine Valve Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Rane Engine Valve Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 21.4% | -1.1% | 36% | -5.2% | -3.8% | -5.6% | -0.4% | -2.9% | 4.6% | 10.9% | - |
| Value Creation Index ⓘ | 0.5 | -1.1 | 1.6 | -1.4 | -1.3 | -1.4 | -1.0 | -1.2 | -0.7 | -0.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 395 | 350 | 355 | 375 | 423 | 355 | 302 | 382 | 498 | 567 | 571 |
| Sales YoY Gr. | - | -11.5% | 1.6% | 5.6% | 12.6% | -16% | -15% | 26.6% | 30.2% | 13.9% | - |
| Adj EPS ⓘ | -17.9 | -37.8 | -7.9 | -25.6 | -18.5 | -23.9 | -31.2 | -13.1 | 1.2 | 17.5 | 22.6 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | NA | 1345.5% | - |
| BVPS (₹) ⓘ | 221.3 | 153.2 | 238.2 | 209.8 | 189.5 | 165.2 | 156.5 | 139 | 146.8 | 167.1 | 171.9 |
| Adj Net Profit ⓘ | -9.2 | -25.4 | -5.3 | -17.2 | -12.4 | -16.1 | -20.9 | -8.8 | 0.9 | 12.7 | 16 |
| Cash Flow from Ops. ⓘ | 16.7 | 21.3 | -4.1 | 14.7 | 2.4 | 28 | 21.4 | -17.3 | 20.6 | 41.7 | - |
| Debt/CF from Ops. ⓘ | 9.2 | 6.7 | -20.3 | 7.4 | 56.5 | 4.3 | 5.3 | -7.4 | 6.6 | 2.9 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 4.1% | 6% | 23.4% | 13.9% | ||||
| Adj EPS ⓘ | NA | NA | NA | 1345.5% | ||||
| BVPSⓘ | -3.1% | -2.5% | 2.2% | 13.9% | ||||
| Share Price | -5% | 13% | 14.1% | 17.7% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -10.3 | -23.2 | -4 | -11.4 | -9.3 | -13.5 | -19.4 | -8.7 | 0.9 | 11.2 | 13.3 |
| Op. Profit Mgn % ⓘ | 7.6 | 1.2 | 6.8 | 3.8 | 4.8 | 3.2 | -0.7 | 3.9 | 7.1 | 8.4 | 9 |
| Net Profit Mgn % ⓘ | -2.3 | -7.3 | -1.5 | -4.6 | -2.9 | -4.5 | -6.9 | -2.3 | 0.2 | 2.2 | 2.9 |
| Debt to Equity ⓘ | 1.3 | 1.4 | 0.5 | 0.8 | 1 | 1.1 | 1.1 | 1.4 | 1.3 | 1 | 0.4 |
| Working Cap Days ⓘ | 143 | 184 | 173 | 196 | 205 | 244 | 265 | 220 | 195 | 176 | 68 |
| Cash Conv. Cycle ⓘ | 48 | 68 | 62 | 74 | 83 | 99 | 99 | 90 | 82 | 73 | 11 |
Return on Equity has increased versus last 3 years average to 13.30%
Sales growth is growing at healthy rate in last 3 years 23.37%
Net Profit has been subdued in last 3 years 0.00%
Debt to equity has increased versus last 3 years average to 1.01
Sales growth is not so good in last 4 quarters at 5.79%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 22.6 | - |
| TTM Sales (₹ Cr.) | 571 | - |
| BVPS (₹.) ⓘ | 171.9 | - |
| Reserves (₹ Cr.) ⓘ | 117 | - |
| P/BV ⓘ | 2.36 | - |
| PE ⓘ | 17.91 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 291.25 / 660.00 |
| All Time Low / High (₹) | 42.00 / 807.45 |
| Market Cap (₹ Cr.) | 293 |
| Equity (₹ Cr.) | 7.2 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 51.1 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 395 | 350 | 355 | 375 | 423 | 355 | 302 | 382 | 498 | 567 |
| Operating Expenses ⓘ | 365 | 345 | 332 | 361 | 404 | 344 | 305 | 368 | 463 | 519 |
| Manufacturing Costs | 86 | 75 | 77 | 88 | 95 | 77 | 67 | 89 | 108 | 121 |
| Material Costs | 141 | 134 | 127 | 133 | 154 | 128 | 119 | 131 | 191 | 217 |
| Employee Cost | 96 | 97 | 94 | 102 | 112 | 104 | 93 | 114 | 125 | 139 |
| Other Costs ⓘ | 43 | 40 | 34 | 38 | 44 | 36 | 27 | 34 | 40 | 43 |
| Operating Profit ⓘ | 30 | 4 | 23 | 14 | 19 | 11 | -3 | 14 | 35 | 47 |
| Operating Profit Margin (%) | 7.6% | 1.2% | 6.5% | 3.8% | 4.4% | 3.1% | -1.1% | 3.7% | 7.0% | 8.3% |
| Other Income ⓘ | 4 | 3 | 2 | 2 | 2 | 3 | 3 | 3 | 2 | 4 |
| Interest ⓘ | 19 | 15 | 10 | 8 | 11 | 11 | 9 | 9 | 11 | 11 |
| Depreciation ⓘ | 28 | 28 | 28 | 29 | 31 | 28 | 23 | 20 | 19 | 19 |
| Exceptional Items ⓘ | 45 | 17 | 90 | 0 | 0 | 0 | 22 | -4 | -7 | -5 |
| Profit Before Tax ⓘ | 31 | -18 | 78 | -21 | -20 | -25 | -10 | -15 | 0 | 16 |
| Tax ⓘ | 8 | -5 | 20 | -4 | -7 | -9 | -4 | -3 | 0 | 4 |
| Profit After Tax | 23 | -13 | 58 | -17 | -14 | -16 | -6 | -12 | 0 | 11 |
| PAT Margin (%) | 5.9% | -3.6% | 16.2% | -4.5% | -3.2% | -4.6% | -2.0% | -3.1% | 0.0% | 2.0% |
| Adjusted EPS (₹) | 45.6 | -18.7 | 85.9 | -25.4 | -20.2 | -24.3 | -9.1 | -17.7 | -0.1 | 15.9 |
| Dividend Payout Ratio (%) | 5% | 0% | 3% | 0% | 0% | 0% | 0% | 0% | 0% | 32% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 114 | 103 | 160 | 141 | 127 | 111 | 105 | 93 | 104 | 121 |
| Share Capital ⓘ | 5 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
| Reserves ⓘ | 109 | 96 | 153 | 134 | 121 | 104 | 98 | 87 | 97 | 114 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 119 | 117 | 67 | 95 | 118 | 111 | 114 | 128 | 136 | 122 |
| Long Term Debt | 58 | 61 | 29 | 33 | 36 | 34 | 52 | 31 | 44 | 43 |
| Short Term Debt | 60 | 55 | 39 | 61 | 82 | 77 | 63 | 97 | 92 | 79 |
| Trade Payables | 46 | 37 | 41 | 50 | 58 | 48 | 56 | 54 | 78 | 79 |
| Others Liabilities ⓘ | 108 | 92 | 78 | 87 | 85 | 69 | 59 | 66 | 64 | 49 |
| Total Liabilities ⓘ | 387 | 348 | 347 | 372 | 388 | 338 | 335 | 341 | 382 | 371 |
Fixed Assets | ||||||||||
| Gross Block | 390 | 399 | 169 | 189 | 212 | 224 | 230 | 239 | 262 | 282 |
| Accumulated Depreciation | 217 | 238 | 28 | 57 | 87 | 115 | 138 | 157 | 176 | 194 |
| Net Fixed Assetsⓘ | 173 | 161 | 141 | 132 | 125 | 109 | 92 | 82 | 86 | 87 |
| CWIP ⓘ | 6 | 3 | 3 | 4 | 6 | 2 | 2 | 5 | 5 | 11 |
| Investmentsⓘ | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 2 | 2 | 3 |
| Inventories | 59 | 47 | 48 | 58 | 80 | 76 | 56 | 88 | 92 | 87 |
| Trade Receivables | 68 | 60 | 67 | 79 | 84 | 63 | 77 | 79 | 108 | 114 |
| Cash Equivalents | 2 | 2 | 10 | 11 | 2 | 1 | 24 | 1 | 8 | 2 |
| Others Assetsⓘ | 77 | 74 | 77 | 87 | 89 | 87 | 83 | 84 | 81 | 66 |
| Total Assets ⓘ | 387 | 348 | 347 | 372 | 388 | 338 | 335 | 341 | 382 | 371 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 17 | 21 | -4 | 15 | 2 | 28 | 21 | -17 | 21 | 42 |
| PBT ⓘ | 31 | -18 | 78 | -21 | -20 | -25 | -10 | -15 | 0 | 16 |
| Adjustment ⓘ | 4 | 23 | -52 | 37 | 43 | 36 | 5 | 26 | 29 | 29 |
| Changes in Working Capital ⓘ | -16 | 18 | -15 | 1 | -22 | 18 | 26 | -28 | -10 | -3 |
| Tax Paid ⓘ | -3 | -2 | -14 | -2 | 2 | 0 | 0 | 1 | 1 | 0 |
| Cash Flow From Investing Activity ⓘ | 21 | 5 | 80 | -20 | -25 | -7 | 17 | -14 | -19 | -25 |
| Capex | 22 | 15 | 79 | -21 | -25 | -7 | 16 | -13 | -20 | -25 |
| Net Investments | 0 | 0 | 1 | 0 | -1 | 0 | 0 | -1 | 0 | -1 |
| Others ⓘ | 0 | -10 | 1 | 1 | 1 | 0 | 0 | 0 | 1 | 1 |
| Cash Flow From Financing Activityⓘ | -39 | -27 | -76 | 15 | 15 | -23 | -15 | 8 | 6 | -22 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -35 | 0 | -44 | 2 | 4 | -8 | 20 | -18 | 14 | -3 |
| Interest Paid ⓘ | -19 | -15 | -10 | -8 | -10 | -10 | -8 | -8 | -10 | -10 |
| Dividend Paid ⓘ | -1 | -2 | 0 | -2 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 15 | -10 | -21 | 23 | 20 | -4 | -27 | 34 | 1 | -9 |
| Net Cash Flow ⓘ | -1 | -1 | 1 | 10 | -8 | -2 | 23 | -23 | 7 | -6 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 26.55 | -11.56 | 43.87 | -11.33 | -10.12 | -13.71 | -5.63 | -11.95 | -0.06 | 10.21 |
| ROCE (%) | 21.35 | -1.13 | 35.96 | -5.22 | -3.82 | -5.63 | -0.38 | -2.92 | 4.6 | 10.94 |
| Asset Turnover Ratio | 1.28 | 1.04 | 1.13 | 1.08 | 1.12 | 0.99 | 0.91 | 1.15 | 1.38 | 1.51 |
| PAT to CFO Conversion(x) | 0.74 | N/A | -0.07 | N/A | N/A | N/A | N/A | N/A | N/A | 3.82 | Working Capital Days |
| Receivable Days | 44 | 61 | 59 | 69 | 70 | 74 | 84 | 74 | 69 | 71 |
| Inventory Days | 40 | 51 | 44 | 50 | 59 | 79 | 79 | 68 | 66 | 58 |
| Payable Days | 96 | 113 | 111 | 125 | 128 | 151 | 159 | 153 | 126 | 132 |
Rane Engine Valve Ltd. was incepted in 1959 to manufacture valves and valve train components for various engine applications. It has latest manufacturing practices to keep abreast of technological advancements caters to every section of the auto industry through four manufacturing plants. It has got cutting edge technology.
It is a market leader in India. Its clientele spread across Europe, North America and the Far Eastern markets including the best known brands such as Volkswagen, Deutz and Yamaha.
It has centralized R&D and product engineering function. Its design and functional aspects of development match customer requirements. Its design team includes IC Engine Specialists, CAD and CAM application experts, software analysts. CAD/CAE, Finite Element Analysis (FEA) Pro-E, Ansys etc used for new product development. Up to date practices like QFD, Design reviews and world acclaimed Japanese development methods are implemented across facilities.
New product development process aligned to ISO / TS 16949:2002 norms.
Product range of the company includes:
Achievements/ recognition:
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