Rane (Madras) Q1 FY27: Growth holds steady as friction acquisition adds scale

Consolidated revenue was INR 1,050.6 crore (up 18.8% YoY), EBITDA was INR 95.8 crore (up 22.0% YoY) with 9.1% margin, and PAT was INR 30.1 crore (up 62.5% YoY).

Net sales increased from INR 869.3 crore in Q1 FY26 to INR 1,029.9 crore in Q1 FY27, a YoY growth of about 18%.

By business, sales mix was Steering and Linkages 51%, Aftermarket 14%, Engine Components 14%, Brake Components 13%, and Light Metal Castings 8%.

By market, India OEM and OEs were 56%, India Aftermarket was 14%, and International OEM and Aftermarket was 30% (including deemed exports).

RML announced the acquisition of the friction business of Hindustan Composites Limited. Enterprise value was stated as INR 370 crore; FY26 revenue INR 315 crore and FY26 PBT INR 40 crore for the acquired business.

The company reported 24 new programs secured in Q1 FY27 with lifetime value over INR 2,040 crore. Export programs were 54% of the LTV and average program life was about six years.