Auto component company Rane Brake Lining saw a 28% jump in net profit for Q4FY24 at INR 15.4 crore compared to INR 12 crore in Q4FY23.
Total revenue increased 12.6% at INR 186.7 crore compared to nearly INR 166 crore in the year-ago quarter.
EBITDA stood at INR 28.6 crore compared to INR 21 crore in Q4FY23, an increase of 36%. EBITDA margin was at 15.3% for Q4FY24 against 12.7% in Q4FY23.
For the financial year FY23-24, PAT stood at INR 40.3 crore compared to INR 33.5 crore in FY23, an increase of 20.4%. Total revenue was INR 663 crore for FY24 compared to INR 607 crore in the FY23, an increase of 9.2%. EBITDA stood at INR 77.5 crore compared to INR 64.6 crore, up nearly 20%. EBITDA margin was at 11.7% for FY24 against 10.6% in FY23. The company announced a dividend of INR 30 per equity share on the paid up capital of 77,29,871 of INR 10 each.
The company achieved the highest sales for the quarter and fiscal year with sales to OE customers growing 18%.
“Strong growth was driven by demand from two wheelers and passenger vehicle segments,” said a company statement.
Sales to aftermarket customers grew 6%. Export sales grew 19% during Q4 and had 33% growth for the full year as the company commenced supplies to the US market with new products for CV segment.
“EBITDA margin improved by 267 bps mainly driven by operational improvement and favourable forex,” said the statement.
