Rane Holdings Limited, the holding company of the Rane Group Wednesday announced the financial performance for the fourth quarter (Q4FY24) and full year (FY24) ended March 31, 2024.
Consolidated Q4 FY24 performance:
Total Revenue was INR 874.4 crore for Q4 FY24 compared to INR 948.2 Crore in Q4 FY23, a decrease of 7.8%. EBITDA stood at INR 87.6 crore for Q4 FY24 compared to INR 114.3 crore during Q4 FY23, a decrease of 23.4%. EBITDA margin was at 10% for Q4 FY24 against 12.1% in Q4 FY23. Net profit stood at INR38.4 crore for Q4 FY24 compared to loss of INR 8.1 crore in Q4 FY23.
Consolidated FY24 Performance: Total Revenue was INR 3,544.0 crore for FY24 compared to INR3,537.5 crore in FY23, an increase of 0.2%. EBITDA stood at INR 335.6 crore for FY24 compared to INR 348.6 crore during FY23, a decrease of 3.7%. EBITDA margin was at 9.5% for FY24 against 9.9% in FY23. Net profit stood at 149.6 crore for FY24 compared to INR 87.3 crore in FY23, an increase of 71.4%.
A dividend of INR 25 per equity share has been recommended by the Board of Directors on the paid up capital of 1,42,77,809 shares of INR10 each
Operational Performance – Q4 FY24: Sales to OE customer grew 5%. Strong growth driven by demand from two-wheelers and passenger vehicle segments. Sales to aftermarket customers grew 6%.
Exports decreased by 14% predominantly on account of divestment of LMCA business. On an organic basis it declined by 1%.
EBITDA margin decreased by 204 bps mainly due to certain one-off provisions and forex gain in Q4 FY23.
