Rane (Madras) Limited — Q1FY27 earnings call summary

Filed 27 August 2026 · Official transcript

Industry outlook positive for FY27 festive season; cost pressures from commodity prices and West Asia tensions
Aspiration for double-digit margins in FY27 full year; price hikes and cost initiatives underway
Capex: RML 270-300 Cr, RSSL 70 Cr, ZF Rane 250-280 Cr; Hindustan Composites capacity utilization not disclosed
Q1 FY27 revenue 1050.6 Cr, +18.8% y-y; new business wins LTV 2040 Cr
Rane Steering margins muted in FY27 due to legacy low-price orders; improvement expected FY28
Net debt to equity target <0.5 by Mar 2028; peak debt ~1100 Cr expected briefly
Export mix improving; margin lag due to cost pass-through delays and elevated input costs
Acquisition of Hindustan Composites friction business completed; margin accretive with 11-12% EBITDA