Q2 FY26 Earnings Release
RML · price
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Rane (Madras) Limited reported consolidated Q2 FY26 results with total revenue of ₹923.4 crore, up 8.4% from ₹851.8 crore in Q2 FY25. EBITDA grew 10.6% YoY to ₹82.9 crore, with margin expanding by 18 basis points to 9.0% (from 8.8%), supported by better absorption of fixed costs. Profit After Tax surged 33.2% YoY to ₹21.5 crore from ₹16.1 crore. Domestic OEM sales rose 6% led by passenger vehicles and farm tractors, international sales grew 10% on strong steering product offtake, and Indian aftermarket sales jumped 17% (aided by a low base due to prior restructuring). Management noted US tariffs had no Q2 impact but flagged lower offtake in light metal casting exports.
Strong quarter with profit growth significantly outpacing revenue growth, reflecting improving operating leverage and cost management. The robust PAT growth and EBITDA margin expansion are positive signals for shareholders, though revenue growth remains modest and export headwinds warrant monitoring.