Rane Brake Lining shares extend gains for 4th straight day on strong Q4 results

Shares of automotive equipment manufacturer Rane Brake Lining hit a fresh 52-week-high and their 20% upper circuit limit, on Friday, May 3, after the company reported strong financial results for the fourth quarter of the fiscal year 2023-24 (Q4FY24).

The stock hit the 20% upper circuit limit of ₹1,021.4 apiece on the NSE after a gap up opening at ₹854.4 apiece.

The auto components maker reported a net profit of ₹15.39 crore in the March quarter of FY24 as against ₹12.02 crore in the same quarter last year, reflecting an increase of 28%.

The company reported an increase of 12.6% in its Total Revenue to ₹186.7 crore for Q4FY24, growing from ₹165.8 crore year-on–year from Q4 FY23. The company’s EBITDA (earnings before tax, interest, depreciation and amortisation) stood at ₹28.6 crore in March quarter, up 36.3% from ₹21 crore in the year-ago quarter.

The company’s EBITDA margin improved to 15.3% in Q4FY24 compared to 12.7% in Q4FY23.

The company also posted strong numbers for the full financial year 2023-24, with total revenue rising by 9.2% from ₹607.1 crore to ₹663 crore for FY24. The company’s EBITDA stood at 77.5 crore, increasing from ₹64.6 crore during FY23.

The company said in a release that it has achieved its highest sales for the quarter and fiscal year. The company also reported a growth in its export sales of 19% during the quarter and of 33% for the entire fiscal year.

Rane Brake Lining dividend

The automotive parts maker also declared a final dividend ₹30 per share, or 300% of the shares of face value of ₹10 each.