Rane Group companies secured new business orders worth ₹331 crore, including ₹148-crore worth of orders in the electric vehicle (EV) segment during Q1 of this fiscal.
During the June quarter, Rane Madras secured new orders of about ₹148 crore. It included ₹90-crore order for ball joint products from an international customer, ₹40-crore order for rack housing for the PV segment in the domestic market, and an ₹18-crore order for rack and pinion products from a domestic customer.
Rane NSK won ₹120-crore worth of electric power steering (EPS) order from a domestic company, while ZF Rane Automotive India bagged ₹45-crore export order for the supply of hydraulic pumps and ₹10-crore order for occupant safety products from a domestic passenger vehicle maker.
Rane Brake Lining won orders worth ₹8 crore from various customers, including a trial order for the US market.
Sales up
During the first quarter of this fiscal, the group’s aggregate sales grew 10 per cent to ₹1,744 crore compared with ₹1,590 crore in the year-ago period, according to the company’s investor presentation.
Revenue from Indian OE customers grew 5 per cent supported by strong growth across vehicle segments, while revenues from international customers increased 29 per cent, driven by higher off-take across steering, valve train, light metal casting, and occupant safety products. But, revenue from the Indian aftermarket segment dropped 2 per cent.
During Q4 of FY23, the company bagged new orders worth ₹673 crore, including ₹360-crore worth of orders by ZF Rane for occupant safety products and ₹120-crore order for EPS by Rane NSK.
The Group achieved its highest-ever aggregate revenue of ₹6,864 crore in FY23, supported by a positive demand environment in Q4 of FY23.