Rane Holdings Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 15 Jul 2026 | Finance | Market Cap: ₹2.4K Cr
Rane Madras (RML) is positioned as the flagship vehicle for future growth initiatives, including investments, M&A, and joint ventures. Rane Madras (RML) is positioned as the flagship vehicle for future growth, with all future initiatives, investments, M&A, and joint ventures routed through it.
From Rane Holdings Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹1,616
Market Cap
₹2.4K Cr
P/E Ratio
30.3
How does Rane Holdings Ltd rank in Finance?
Compare Rane Holdings Ltd against every Finance company this quarter on revenue, margins and earnings-call signals.
Rane Holdings Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.6K Cr, net profit ₹88 Cr.
Full financials →📊 Revenue & Sales Performance
- →Rane Madras (RML) is positioned as the flagship vehicle for future growth initiatives, including investments, M&A, and joint ventures.
- →New business wins of over INR 500 crores per annum were achieved in the recent quarter, indicating strong order inflow.
- →The group targets a 15% revenue compounding over 3 years.
- →Optimism is strengthening for the second half of the fiscal year with steady volume growth across all vehicle segments in India.
- →The safety business (especially occupant safety) is expected to grow strongly with double-digit growth driven by domestic penetration and exports.
- →Commercial vehicle steering growth is aligned with the CV market, currently in low single digits.
- →The aftermarket business is consolidating and growing strongly, contributing to revenue growth.
- →New product launches, increased penetration (e.g., airbags), export opportunities, and powertrain-agnostic portfolio support future growth.
- →Growth is contingent on positive industry demand and sustained single to double-digit vehicle segment growth.
📈 Profitability & Margins
- →Rane Madras (RML) is positioned as the flagship vehicle for future growth, with all future initiatives, investments, M&A, and joint ventures routed through it.
- →The management is hopeful of further improvements in performance and margins in coming quarters, targeting double-digit EBITDA margins, aiming for 11-12% within 3 years.
- →New margin improvement initiatives and synergy benefits post-merger are expected to enhance profitability, assuming continued positive market growth.
- →ZF Rane’s safety business shows optimistic strong double-digit growth prospects, while commercial vehicle steering grows low single-digit in line with the CV market.
- →Rane Steering Systems Limited (RSSL) margins are currently low (~4% EBITDA) but expected to improve gradually toward 7-8% from incremental businesses, though double-digit margins are not anticipated soon.
- →Management targets ROCE above 20% for new capex investments to ensure profitable capital allocation.
- →Overall, steady volume growth across vehicle segments underpins the optimism for earnings growth.
🏗️ Capital Expenditure Plans
- →Rane Group plans to invest more than INR100 crores in capex next year.
- →The management targets a Return on Capital Employed (ROCE) of more than 20% for capex investments.
- →Some business/product lines show ROCE upwards of 25%, while others are in the 16%-17% range but are invested in for strategic reasons.
- →The company is focusing its future initiatives, growth investments, M&A, and JVs through Rane Madras (RML), positioning it as the flagship growth vehicle.
- →Capital allocation is being closely monitored to ensure careful investment decisions.
- →Capital expenditure intensity remains under focus, with efforts to bring it in line with growth.
- →Legacy issues and past investments have affected recent profitability and capex returns, but clean-up and improvements are ongoing.
💰 Fundraising & Capital Structure
- →No explicit mention of any current or planned new fundraising through debt or equity in the transcript.
- →The focus is on debt reduction, with a target to reduce group debt by INR 200-300 crores over the next 18 months.
- →Capex plans include over INR 100 crores next year, funded internally without raising additional term loans during the first half of the year.
- →Land sales proceeds (e.g. Velachery land) are primarily earmarked to repay existing debt rather than raising new funds.
- →The management emphasizes improving performance and leveraging internal cash flows to manage capex and debt.
- →No discussion or indication of any immediate plans for equity issuance or fresh borrowing in the presented discussion.
📋 Order Book & Pipeline
- →Harish Lakshman mentioned that INR 500 crores of new orders were booked in the recent quarter.
- →There is no specific total outstanding order book number currently provided; management stated they do not typically calculate total order book this way but will review the request.
- →Growth outlook for ZF Rane's safety business is optimistic with strong double-digit growth driven by domestic market penetration and exports.
- →Commercial vehicle business growth aligns with low single digits, reflecting overall CV industry trend.
- →Recent new business wins for Rane Madras exceed INR 500 crores per annum across product categories.
- →Overall, order book inflow is healthy, supporting revenue growth, though exact backlog figures are not explicitly disclosed.
Key Metrics
Continue your research
What Rane Holdings Ltd's management said in earlier quarters
Others in Finance this season
- MAS FINANC SER (Q2 FY26)
MAS Financial Services has consistently grown profits at a 22% CAGR over the past decade, even including COVID years (profit from INR 41 crores in 2015 to INR…
- Aditya Birla Capital Ltd (Q2 FY26)
Health Insurance: Strong growth momentum continues, with a 31% YoY GWP growth in H1 FY26 and confidence to grow ahead of the market driven by a differentiated…
- PNB Housing (Q2 FY26)
Retail loan book grew 17% YoY; total loan book growth at 15% YoY as of Q2. Key concall takeaways from PNB Housing Finance Ltd's Q2 FY26 earnings call — and how…
- Sammaan Capital Ltd (Q2 FY26)
Mortgages will remain the core product, comprising over 80% of disbursals in the next 24 months, with ticket sizes increasing up to INR2-3 crores. Key concall…
Frequently Asked Questions
What were Rane Holdings Ltd Q2 FY26 results?
Rane Madras (RML) is positioned as the flagship vehicle for future growth initiatives, including investments, M&A, and joint ventures. Rane Madras (RML) is positioned as the flagship vehicle for future growth, with all future initiatives, investments, M&A, and joint ventures routed through it.
What is Rane Holdings Ltd share price analysis?
Rane Holdings Ltd currently shows a neutral. The stock trades at a P/E of 30.3 with a market cap of ₹2,391 Cr. Investors should review the full earnings analysis for detailed insights.
Is Rane Holdings Ltd planning capital expenditure?
Rane Group plans to invest more than INR100 crores in capex next year.
Keep Rane Holdings Ltd on your radar — track it to get its next earnings analysis in your feed.
This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.