Rane Holdings earnings calls.

Rane Madras reported Q1 FY27 revenue of ₹506.6 croreCurrent reported value: ₹506.6 crore. No comparable prior figure is available in the source record., up 18.8Current reported value: 18.8. No comparable prior figure is available in the source record.% YoY, driven by record domestic vehicle sales across PV, CV, and 2W segments. However, EBITDA margin compressed to 8.4% from ~9.5% YoY, a 110bps decline, primarily due to elevated material costs, logistics expenses, and energy prices—particularly from West Asia geopolitical disruptions. Management acknowledged margin pressure but confirmed price pass-through agreements with customers (monthly/quarterly indexed), with full recovery expected over the next 1-2 quarters. The company targets double-digit EBITDA marginCurrent double-digit EBITDA margin. Reported change: Unfavorable mix. for FY27, projecting Q3 as the inflection point. The completed Hindustan Composites friction business acquisition (₹370 crore) is margin-accretive with ~11-13% EBITDA margins, adding railway (40% of acquired business) and CV exposure. Capex guidance stands at ₹270-300 crore for RML with debt expected below ₹1,000 crore by year-end. Key risks include commodity price volatility, muted Rane Steering margins (legacy low-price orders), and ZF Rane product mix headwinds in occupant safety.