New Delhi: Rane Brake Lining Limited, a leading manufacturer of Brake Linings, Disc Pads and Clutch Facings, said on Thursday that for the second quarter (Q2FY24) total revenue was INR 158.2 crore compared to INR 144.7 crore in Q2 FY23, an increase of 9.3%.
In Q2FY24,EBITDA stood at INR17.8 crore compared to INR 13.8 crore during Q2 FY23, an increase of 29.1%;EBITDA margin was at 11.2% for Q2 FY24 against 9.5% in Q2 FY23, and PAT stood at INR 9.6 crore for Q2 FY24 compared to INR 6.5 crore in Q2 FY23, an increase of 48%
For H1FY24 total revenue was at INR 311.3 crore compared to INR 286.6 crore for H1 FY23, an increase of 8.6%; EBITDA stood at INR 30.1 crore for H1 FY24 compared to INR 26.3 crore during H1 FY23, an increase of 14.7%; EBITDA margin was at 9.7% for H1 FY24 against 9.2% in H1 FY23, and PAT stood at INR 14.8 crore for H1 FY24 compared to INR 12.3 crore in H1 FY23, an increase of 20.4%
During Q2 FY24, sales to OE customers grew 13% driven by strong sales to the two-wheeler segment. Sales to aftermarket customers grew 4% and EBITDA margin improved by 172 bps on account of higher volume and one-off provision reversal during this quarter, the company said in a media release.
L. Ganesh, Chairman, Rane Group, said, “RBL capitalized on the favourable demand environment to drive topline growth. Demand across vehicle segments remained strong. Though we remain positive about the demand environment, given the dynamic macro and geopolitical situation we are working closely with our customers and focusing on operational improvements.”
