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Rane (Madras) Q2 FY27 results: net profit ₹326.68 crore vs ₹21.47 crore, revenue up 34.6%
Rane (Madras) Limited reported consolidated Q2 FY27 revenue of ₹1,237 crore and a net profit of ₹326.68 crore for the July–September 2026 quarter. Profit included a ₹339.65 crore exceptional gain, while revenue rose 34.6% from the year-ago quarter and basic EPS was ₹118.2.
Key points
- Consolidated Q2 FY27 revenue was ₹1,237 crore, up 34.6% from ₹919.31 crore in Q2 FY26.
- EBITDA was ₹108.98 crore in Q2 FY27, up from ₹78.78 crore, with the margin at 8.8%.
- Net profit for the quarter was ₹326.68 crore, up from ₹21.47 crore in Q2 FY26, with basic EPS of ₹118.2.
- The quarter included an exceptional gain of ₹339.65 crore; the year-ago quarter carried an exceptional charge of ₹1.59 crore.
- For H1 FY27, revenue was ₹2,278.76 crore and net profit was ₹356.78 crore, against ₹1,799.91 crore and ₹40.0 crore in H1 FY26.
How did Rane (Madras) perform in Q2 FY27?
Rane (Madras) reported consolidated revenue of ₹1,237 crore in Q2 FY27, up 34.6% from ₹919.31 crore in the year-ago quarter and up 18.8% from ₹1,042 crore in the previous quarter. EBITDA rose to ₹108.98 crore from ₹78.78 crore a year earlier, and the EBITDA margin was 8.8% against 8.6% in Q2 FY26 and 8.3% in Q1 FY27.
Net profit for the quarter was ₹326.68 crore, compared with ₹21.47 crore in Q2 FY26 and ₹30.10 crore in Q1 FY27. Basic EPS was ₹118.2, against ₹7.77 a year earlier and ₹10.89 in the previous quarter. On the standalone basis, revenue was ₹1,237.62 crore and profit after tax was ₹328.69 crore. The board approved the un-audited consolidated and standalone results for the quarter and half year ended 30 September 2026 on 3 November 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,237 | 1,042 | 919.31 | +34.6% | +18.8% |
| Other income | 5.12 | 8.99 | 4.09 | +25.2% | −43.0% |
| Total expenses | 1,193 | 1,010 | 892.13 | +33.7% | +18.2% |
| EBITDA | 108.98 | 86.84 | 78.78 | +38.3% | +25.5% |
| EBITDA margin | 8.8% | 8.3% | 8.6% | +0.2 pp | +0.5 pp |
| Profit before tax | 388.74 | 41.02 | 29.68 | +1209.8% | +847.7% |
| Tax | 62.06 | 10.92 | 8.21 | +655.9% | +468.3% |
| Net profit | 326.68 | 30.10 | 21.47 | +1421.6% | +985.3% |
| EPS (₹) | 118.20 | 10.89 | 7.77 | +1421.2% | +985.4% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Rane (Madras)'s costs and profit?
Total expenses for Q2 FY27 were ₹1,193 crore, up ₹301.04 crore from ₹892.13 crore a year earlier and ₹183.58 crore from ₹1,010 crore in the previous quarter. Cost of materials consumed was ₹723.65 crore, up ₹209 crore year on year, employee cost ₹155.19 crore, up ₹28.80 crore, finance costs ₹20.52 crore, up ₹5.43 crore, depreciation ₹44.49 crore, up ₹7.98 crore, and other expenses ₹223.61 crore, up ₹47.44 crore. Other income was ₹5.12 crore, up ₹1.03 crore from the year-ago quarter.
Profit before tax rose to ₹388.74 crore from ₹29.68 crore a year earlier, and the quarter included an exceptional gain of ₹339.65 crore, against an exceptional charge of ₹1.59 crore in Q2 FY26. Tax expense was ₹62.06 crore, up ₹53.85 crore from ₹8.21 crore a year earlier, and ₹51.14 crore from ₹10.92 crore in Q1 FY27. The company said revenue included sales of the acquired Friction business with effect from 20 August 2026, and that EBITDA was supported by better cost management and favourable forex movement.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 723.65 | 514.65 | +209 | +40.6% |
| Employee cost | 155.19 | 126.39 | +28.80 | +22.8% |
| Finance costs | 20.52 | 15.09 | +5.43 | +36.0% |
| Depreciation | 44.49 | 36.51 | +7.98 | +21.9% |
| Other expenses | 223.61 | 176.17 | +47.44 | +26.9% |
| Total expenses | 1,193 | 892.13 | +301.04 | +33.7% |
| Other income | 5.12 | 4.09 | +1.03 | +25.2% |
| Tax | 62.06 | 8.21 | +53.85 | +655.9% |
| Exceptional items | +339.65 (gain) | −1.59 (charge) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹2,278.76 crore, up ₹478.85 crore or 26.6% from ₹1,799.91 crore in H1 FY26. Total income was ₹2,292.87 crore against ₹1,807.8 crore, and profit before tax was ₹429.76 crore against ₹54.46 crore.
Profit after tax for H1 FY27 was ₹356.78 crore, compared with ₹40.0 crore in H1 FY26, and basic EPS was ₹129.09 against ₹14.47. The half-year results included an exceptional gain of ₹339.65 crore, against an exceptional charge of ₹2.6 crore a year earlier.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 2,279 | 1,800 | +26.6% |
| Profit before tax | 429.76 | 54.46 | +689.1% |
| Net profit | 356.78 | 40 | +791.9% |
| EPS (₹) | 129.09 | 14.47 | +792.1% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets rose to ₹3,344.29 crore at 30 September 2026 from ₹2,521.04 crore at 31 March 2026, while shareholders' fund increased to ₹1,063.94 crore from ₹750.56 crore. Borrowings stood at ₹1,025.45 crore against ₹633.95 crore, and cash and cash equivalents were ₹15.06 crore against ₹46.18 crore. Inventories were ₹568.96 crore, trade receivables ₹957.09 crore, and trade payables ₹674.29 crore.
For H1 FY27, operating cash flow was ₹27.15 crore against ₹23.78 crore in H1 FY26, investing cash flow was negative ₹453.07 crore against ₹23.03 crore, and financing cash flow was ₹383.06 crore against negative ₹28.14 crore. Capital expenditure for the half was ₹148.72 crore, up from ₹93.54 crore a year earlier. The company said net debt rose to support long-term growth investments, including the Friction acquisition and capital expenditure needs.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 3,344 | 2,521 |
| Total equity | 1,064 | 750.56 |
| Borrowings | 1,025 | 633.95 |
| Cash and equivalents | 15.06 | 46.18 |
| Inventories | 568.96 | 496.91 |
| Trade receivables | 957.09 | 795.79 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 27.15 | 23.78 |
| Cash from investing | −453.07 | 23.03 |
| Cash from financing | 383.06 | −28.14 |
| Capital expenditure | 148.72 | 93.54 |
Source: Company's results filing (XBRL).
How has Rane (Madras) done over the last 8 quarters?
Revenue rose year on year in each of the last eight quarters, and profit rose year on year in each of the last three. In the latest quarter, revenue of ₹1,237 crore was the highest of the series shown, while profit of ₹326.68 crore was well above the ₹36.96 crore recorded in Q4 FY26. The EBITDA margin reached 9.1% in Q4 FY26 before easing to 8.3% in Q1 FY27 and recovering to 8.8% in Q2 FY27.
At the other end of the range, revenue was ₹521.62 crore and the EBITDA margin 7.1% in Q3 FY25, when the company reported a loss of ₹0.22 crore. Since then, revenue has moved upward each quarter apart from the change between Q4 FY26 and Q1 FY27, when revenue was ₹1,047.87 crore and ₹1,041.62 crore respectively, with profit at ₹36.96 crore and ₹30.1 crore.
How did Rane (Madras) shares react?
The stock rose 3.7% in the first five minutes after the filing appeared in the market, and was up 2.0% after 15 minutes. From the pre-results close of ₹1,253.0, the reaction-day move was 3.6%, and by the next day's close the stock was up 4.1% from that pre-results close. The Auto Components & Equipments industry recorded a median reaction-day move of 0.7%, leaving Rane (Madras) 2.9 percentage points ahead of the sector median.
Earlier results-day moves were mixed. The stock fell 5.3% on 5 August 2026 and rose 8.5% on 6 May 2026, 8.0% on 4 February 2026 and 3.7% on 4 November 2025. Moves on 5 August 2025, 27 May 2025, 30 January 2025 and 24 October 2024 were -0.2%, 1.8%, -4.3% and -6.8% respectively.
| After the filing | Stock | Auto Components & Equipments median |
|---|---|---|
| 5 minutes | +3.7% | |
| 15 minutes | +2.0% | |
| Reaction day | +3.6% | +0.7% |
| Next day | +4.1% | +2.0% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 5 August 2026 | −5.3% |
| 6 May 2026 | +8.5% |
| 4 February 2026 | +8.0% |
| 4 November 2025 | +3.7% |
| 5 August 2025 | −0.2% |
| 27 May 2025 | +1.8% |
| 30 January 2025 | −4.3% |
| 24 October 2024 | −6.8% |
Source: MarketPing price-reaction measurement.
How did other Auto Components & Equipments companies do?
Among 44 other Auto Components & Equipments companies that have filed for this quarter, the median revenue growth was 33.6%. Of the peers compared on revenue growth, 25 grew slower than Rane (Madras) and 19 grew faster than the company. On profit, 35 of the 45 peers compared reported higher profit, with the peer data as of 4 November 2026.
| Rane (Madras) revenue growth (YoY) | +34.6% |
|---|---|
| Median of 44 other Auto Components & Equipments companies | +33.6% |
| Companies with slower revenue growth than Rane (Madras) | 25 of 44 |
| Companies with faster revenue growth than Rane (Madras) | 19 of 44 |
| Companies whose net profit rose | 35 of 45 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Rane (Madras)'s revenue in Q2 FY27?
Revenue from operations was ₹1,237 crore, up 34.6% from ₹919.31 crore in Q2 FY26 (consolidated).
Did Rane (Madras) make a profit in Q2 FY27?
Yes. Net profit was ₹326.68 crore, against a net profit of ₹21.47 crore in Q2 FY26.
What was Rane (Madras)'s EPS in Q2 FY27?
Basic earnings per share were ₹118.20, against ₹7.77 in Q2 FY26.
How did Rane (Madras) shares react to the Q2 FY27 results?
On the reaction day the stock moved +3.6% from the previous close; the median Auto Components & Equipments stock moved +0.7%.
When did Rane (Madras) announce its Q2 FY27 results?
On 3 November 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 3 November 2026) · PDF
- Press Release (NSE, 3 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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