Rane Brake lining - Q2FY2021 Result - Angel Broking

Mr. Jyoti Roy - DVP - Equity Strategist, Angel Broking Ltd

"Rane Brake linings reported a 3.4% YoY de-growth in revenues to ₹105.3 crore for Q2FY2021, as compared to revenues of ₹109.1 crore for Q2FY2020. EBIDTA for the quarter stood at ₹20.3 crore up 65.4% YoY while EBIDTA margins expanded by 801bps YoY to 19.3%. Net profit for the quarter stood at ₹11.5 crore as compared to profit of ₹7.5 crore in the corresponding quarter previous year. While revenues were down YoY they were up by 186% QoQ. Gradual opening up of the economy led to the strong sequential rebound in revenues while margin expansion was driven due to lower raw material and continued tight control on other expenses. Overall the company has posted a decent set of numbers despite the challenges."

Shares of RANE BRAKE LINING LTD. was last trading in BSE at Rs.678.25 as compared to the previous close of Rs. 640.4. The total number of shares traded during the day was 37336 in over 4436 trades.

The stock hit an intraday high of Rs. 715.45 and intraday low of 639. The net turnover during the day was Rs. 25543407.

Source : Equity Bulls

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