Rane

Rane Madras reported a strong Q3Current reported value: 3. No comparable prior figure is available in the source record. with revenue of ₹1,019.1 croreCurrent reported value: ₹1,019.1 crore. No comparable prior figure is available in the source record., up 21.3% YoYCurrent reported value: 21.3% YoY. No comparable prior figure is available in the source record., driven by broad-based auto demand recovery and festive tailwinds. EBITDA margin improved 106 bps to 9.3%Current reported value: 106 bps to 9.3%. No comparable prior figure is available in the source record., aided by cost initiatives and operating leverage. New order wins of ₹130 croreCurrent ₹130 crore. Reported change: +130% QoQ. in the quarter and ₹650 croreCurrent ₹650 crore. Reported change: +160% YoY. YTD bolster the medium-term growth pipeline. However, a one-off warranty provision of ₹230 croreCurrent reported value: ₹230 crore. No comparable prior figure is available in the source record. at associate ZF Rane Automotive (net ₹172 crore) for a seat belt buckle issue in North America weighs on sentiment. Management targets double-digit EBITDA margins for RML by FY27, with debt reduction of ₹150-200 crore over 12-18 months via land sale proceeds. Key risk: further warranty provisions or customer impact from the ZF Rane recall.