Rane Madras - Q2FY21 numbers - Angel Broking

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

"Rane Madras reported a 3.6% YoY degrowth in consolidated revenues to ₹318.5 crore for Q2FY21, as compared to revenues of ₹330.3 crore for Q2FY20. EBIDTA for the quarter stood at ₹12.67 crore down by 8.0% YoY while EBIDTA margins contracted by 20bps to 4.0%. Net profit for the quarter was flat at ₹10.0 crore as compared to profit of ₹10.75 crore in the corresponding quarter previous year. Profits were largely at last year's level due to lower interest costs and higher other income which were mitigated to some extent by higher tax expenses. While revenues were down marginally year on year they were up by 189% QoQ. Gradual opening up of the economy led to the strong sequential rebound in revenues though the drop in operating margin year on year was a bit disappointing as most of the auto ancillary companies have reported the same or sight improvement in margins so far."

Shares of RANE (MADRAS) LTD. was last trading in BSE at Rs.205.15 as compared to the previous close of Rs. 205.95. The total number of shares traded during the day was 2559 in over 307 trades.

The stock hit an intraday high of Rs. 215.1 and intraday low of 201.9. The net turnover during the day was Rs. 534720.

Source : Equity Bulls

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