Harish Lakshman to take over as Chairman of Rane Group after L Ganesh retires on March 31
Harish Lakshman will take over as Chairman of Rane Group on April 1, 2024.
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Rane Group posts 66.3% fall in Q3 net profit to INR 11.2 cr
The total revenue for the quarter under review stood at INR 521.4 crore as compared to INR 546.3 crore in Q3 of FY23, the company said in a statement.
Rane Brake Lining Q1FY24 PAT dips 10.5% to INR 5.2 cr
Total revenue for Q1 FY24 increased by 7.9% to INR 153.1 crore compared to INR 141.9 crore in Q1 FY23.EBITDA stood at INR12.3 crore compared to INR 12.5 crore during Q1 FY23, a decrease of 1.3%, the company said.
Deming Award conferred on L Ganesh, Chairman, Rane Group, for TQM
The Deming Distinguished Service Award is given to individuals who have made outstanding contributions in the dissemination and promotion of Total Quality Management outside Japan. Ganesh is the third Indian and fifth globally to receive this award.
Rane Engine Valve’s net loss comes down
The company’s total revenue was Rs 123.3 crore for Q2FY23 up nearly 23% from Rs 100.4 crore in the year-ago period. EBITDA stood at Rs 8.3 crore more than double the Rs 3.5 crore clocked during Q2FY22 while EBITDA margin was at 6.7% as against 3.5% last Q2.
Rane Brake Lining Q4 PAT down 8% to INR 13 crore
Total revenue of the company stood at INR 157 crore in Q4, up 3%, compared to INR 152 .4 crore in the same quarter in FY21.
Exclusive Interview: Rane Group will invest up to INR 300 cr for new projects, says Harish Lakshman, Vice Chairman
The auto industry had been facing reverses even before Covid-19 hit the world markets. The pandemic aggravated the slide and Rane Group could not escape this. Even a recovery in the last 2 quarters of FY21 was short-lived because of the second wave and the chip shortage. However, Harish Lakshman, Vice Chairman, Rane Group, Chennai, is optimistic about the future prospects and this year hopes to achieve its peak revenue of over INR 5300 crore in FY19 which dipped to INR 4030 crore last fiscal. “As we have won a lot more new programmes for the next three years, we will start investing INR 275 crore to INR 300 crore in 2022 on the capacity front as our export business is growing significantly followed by some R&D investment,” Harish told ETAuto in an interview. The excerpts:
Rane Group contributes INR1 crore to TN COVID-19 relief measures
The contribution is to the Chief Minister’s Public Relief Fund and for the Tamil Nadu State Disaster Management Authority.
Rane group reinstates pay cuts as biz surges
The group which counts Volkswagen, Toyota among others as clients had cut salaries by 5%-30% to its staff with the senior managerial taking steeper cuts after Covid induced lockdown ravaged businesses.
Rane Engine Valves announces salary cut of 10-35% across levels
Rane Engine Valve Ltd, a group firm of Rane Group, is engaged in manufacture of engine valves, guides and tappets and declared its financial results for the quarter ending March 31, 2020 on Friday.
Rane Group reports net loss of Rs 45.5 crore in FY'20
Consolidated EBITDA stood at Rs 60.3 crore in FY'20 as compared to Rs 125.9 crore during the year-ago period, a decrease of 52.1%.
Rane Group announces senior management changes
Rane Group has appointed Murali K Rajagopalan, President of the Company, as 'Manager' under the Companies Act, 2013, for five years.
CEO’s take on 2020: Total quality management is our mantra to address slowdown, says Harish Lakshman
Heading into the new year, ETAuto reads the mind of top CEO's to showcase their strategic path in 2020.
Rane Holdings Q2 profit drops 9.7% at Rs 33.86 crore
The company had posted Rs 37.50 crore consolidated net profit at Rs 37.50 crore in Q2 FY'18.
REVL net revenue up 14% at Rs 107.8 crore in Q2
The company had posted Rs 94.1 crore profit in Q2 FY18, as per a regulatory filing.
Rane TRW Steering to set up greenfield facility at Trichy for occupant safety
A greenfield plant is being set up at Trichy in Tamil Nadu in addition to the existing Chennai facility for these products. This will enable RTSSL to step up its seatbelt capacity from 5.8 million units to 7.5 million units and airbag capacity from 800,000 to 1.5 million units over the next 12 to 18 months.
Rane Group profit dips by 18.5%
Total consolidated revenue during the fiscal, however, grew 3.7 per cent to Rs 2,375.1 crore as against Rs 2,273.8 crore in the year ago period.
Rane (Madras) net revenue up 31.7% in Q3 FY18
The company claims that strong demand from Indian OE customers across vehicle segments, robust demand in the Indian Aftermarket segment with 46% YoY growth, improved operational performance of the die casting division, and the favourable product mix improved the operational performance during Q3FY18.
Rane Brake Lining records Q2 net at Rs 9.33 cr
The city-based auto-component manufacturer had recorded net profits of Rs 10.10 crore during the corresponding period last year.
Rane Group acquires Bengaluru-based Telematics4U Services
Founded in 2009, T4U offers customized analytics-rich end-to-end telematics solutions for various transportation and asset tracking requirements in India and other countries across South Asia, Middle East and Africa.
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