Wednesday, 26 October 2011

Q2 FY 2011-12 Results Update - Rane Madras Ltd.

The First half of FY11-12 has not been a fascinating one for the Automobile manufacturers and even for the Auto Component manufacturers due to the slowdown seen in the sector mainly due to hike in the interest rates and fuel prices.

To add to the burden for Maruti Suzuki, India's Largest automobile manufacturer was the labor unrest at its plants across the Manesar belt due to which the its Gurgaon plant also suffered for two days. The Auto Component manufacturers had to bear the brunt as they had no option just to wait and watch the ongoing tussle and daily talks between the Maruti Suzuki India's management and the Union Leaders.

The impact was well seen in the Q2 FY11-12 results of the auto component manufacturers. Rane Madras which manufactures steerings, suspensions and hydraulics  for Maruti Suzuki India Ltd. registered a Sales Turnover of Rs 163.36 Cr. , 13.68% Increase in Income as compared to the same period last year. The company registered a Sales turnover of Rs 143.7 Cr during Q2 FY10-11. The Increase in Income comes on account of new Business added from players other than Maruti Suzuki India Ltd.

The company reported a Net profit of Rs 6.97 Cr as compared to Rs 7.77 Cr for the same period last year. The company's profit however decreased by 10.3% due to increase in Dep., Interest and Operating Expenses. The major impact was seen due to Increase in Operating Expenses which increased by approximately 13% as compared to same period last year.

Click on the Image below to see the detailed Y-o-Y Analysis of Rane Madras Co. Ltd.


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