Rane Holdings Limited, the holding company of Rane Group today announced financial performance for the second quarter (Q2FY21) and six months (H1FY21) ended September 30, 2020.
Group Aggregate Performance - Q2FY21
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Total Revenue was Rs1,072.9cr in Q2FY21 as compared to Rs1,087.4cr in Q2FY20, a decrease of 1.3%
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EBITDA stood at Rs100.3cr as compared to Rs84.2cr during Q2FY20, an increase of 19.1%
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EBITDA Margin at 9.4% for Q2FY21 as against 7.7% in Q2FY20, an increase of 166 basis points (bps)
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PBT stood at a profit of Rs14.8cr for Q2FY21 as compared to a loss of Rs34.3cr in Q2FY20, an increase of 143.1%
Consolidated Financials - Q2FY21
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Total Revenue was Rs524.0cr in Q2FY21 as compared to Rs551.7cr in Q2FY20, a decrease of 5.0%
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EBITDA stood at Rs50.3cr as compared to Rs41.6cr during Q2FY20, an increase of 20.9%
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EBITDA Margin at 9.6% for Q2FY21 as against 7.5% in Q2FY20, an increase of 206 bps
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PBT stood at a profit of Rs13.2cr for Q2FY21 as compared to a loss of Rs15.5cr in Q2FY20, an increase of 185.1%
Group's Performance - Q2FY21
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Revenue from Indian OE customers grew 1%
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Revenues from International customers declined 9% due to drop in Hydraulic steering products and Valve train components
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Revenue from Indian aftermarket segment grew 9%
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Lower employee cost and fixed cost control helped improve EBITDA margin by 166bps
L. Ganesh, Chairman & Managing Director, Rane Holdings Ltd said, "We saw gradual improvement in the demand environment with the opening of the line economy. The plant operations team effectively handled the production ramp up despite the suppy chain and labour availability challenges. The group companies continue to focus on cost savings to improve margin. We remain cautiously optimistic about sustenance of the demand post festive season."
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