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It all begins with a dream. We dream, we achieve, we succeed. Rane Group has followed this simple philosophy in its journey so far. Earlier, it was our dream to focus on operational excellence via TQM. Over the past decade, Rane group pursued this dream relentlessly and succeeded. The various Deming Prizes, awards from various OEMs and national and international associations is a testimony to the success of the Group’s TQM journey.


In our Dream of becoming a world-class enterprise, we take cognizance of the paradigm shift and will continue to channelize our energies to create transport solutions for the new and dynamic world of mobility.
"A dream doesn’t become reality through magic; it takes sweat, determination and hard work." This quote by the American General, Colin Powell, aptly reflects the grit and resolve adopted by the Company. Hence, the third and the most important element of our Vision 2020 theme – Deliver. If we don’t Deliver, then nothing matters. Delivering consistently enhanced value to each and every stakeholder is no longer a luxury but an imperative for our success.

World of Rane

Rane Holdings Limited (RHL), through its group companies, is engaged in manufacturing, supplying and marketing of automotive components for the transportation industry for about eight decades. We also provide consultancy and other services to our group companies. We cater to all sections of automobile industry viz., - passenger car, light commercial vehicle, medium and heavy commercial vehicle, two-wheeler, three-wheeler, multi-utility vehicle and farm tractor. We also focus on non-automotive portfolio in aerospace and defence. We operate through 24 strategically located plants across India and USA. We maintain our operational excellence through total quality management (TQM), which is reflected in three Deming Grand Prizes and four Deming Prizes bestowed upon our group companies.

Our Vision

To maintain market leadership and achieve sales of ₹ 5,500 crores by 2018-19

Our Mission

Provide superior products and services to our customers and maintain market leadership
Evolve as an institution that serves the best interests of all stakeholders
Pursue excellence through total quality management
Ensure the highest standards of ethics and integrity in all our actions

Global Presence

Our Corporate Structure

Key Customers

Management Reports and Financial Statements

Our Product Portfolio

Company Products
Rane (Madras) Limited Steering Gear Products, Suspension and Steering Linkage Products, Die Casting Products
Rane Engine Valve Limited Engine Valve, Valve Guides and Tappets
Rane Brake Lining Limited Brake Linings, Disc Pads, Clutch Facings
Rane Holdings America Business Development services in North American region for Rane Group companies
Rane TRW Steering Systems Private Limited Hydraulic Steering Gear, Hydraulic Pump, Seat Belt and Air Bag
Rane NSK Steering Systems Private Limited Manual Steering Column and Electric Power Steering
JMA Rane Marketing Limited Automotive component trading company with a pan-India dealer network
Rane Precision Die Casting Inc., USA Die Casting Products
SasMos HET Technologies Limited Design, prototyping and manufacture of customized electronic solutions for defence and aerospace applications

Message from

Executive Chairman

We, too, must relook at our existing ways of working and change to meet the demands of the new world which will see a play of new technologies in the connected auto era.

L Lakshman

Executive Chairman

Message from

Executive Chairman

Dear Shareholders,
India was the toast of the world given its eminent status as the fastest growing economy of the world for FY16. Macro-economic factors helped this growth story. Softening oil prices, easing interest rates, rising FDI and strong domestic demand led to the management of deficits and the overall Indian growth. Various global agencies like IMF are confident that India will continue to see similar growth momentum for the next year.
The need of the hour is to give a strong impetus to infrastructure projects including roads, irrigation, power, mining, etc. and ensure that any contentious issues around these projects are quickly and permanently resolved. Beyond this, if we aspire to see a prosperous and thriving India, it is imperative to look at fundamental reforms in education, health, labour and social sector now. The governments at the centre and states have to work in harmony for national prosperity. Only then can we take the development and the consequent wealth to the rural areas and have a balanced growth across the national.
I know to make this dream a reality certainly requires a different approach. We need to break from the shackles of the past and get new thinking in the country. And such thinking has to be transferred into each and every sector of the economy, including the auto component segment. We, too, must relook at our existing ways of working and change to meet the demands of the new world which will see a play of new technologies in the connected auto era.
At Rane, we have already kick-started the change process. With the Vision 2020, we will endeavour to create new profitable spaces as we adopt our new philosophy - Dream, Design and Deliver. Our recent US acquisition is a step in this thinking where we had dreamt of being global not just by exporting but also manufacturing outside of India, designed a plan and delivered with this transaction.
Any new thinking has to be on the foundation of core values. For us at Rane, governance is a way of life and part of our DNA. Even as regulations are now mandating the broader outline of corporate reporting that calibrates and measures the level of corporate governance, the spirit of governance are embodied in the way we approach business and conduct ourselves every single day.
On behalf of the Board of Directors of Rane Holdings and its group companies, I thank our stakeholders – Customers, Employees, Partners, Vendors, Investors, Governments and Communities – for their continued support and patronage.

Session with

Vice Chairman

At Rane, we have built capacity and capability in all aspects of the manufacturing process and can now compete with the best in the world.

L Ganesh

Vice Chairman

Session with

Vice Chairman

On performance of the Indian Automobile Sector in the FY16
After a solid performance in FY15 led by the two/three wheelers segment, FY16 saw a sober growth of 2.3% for the automobile segment. It is heartening to note that categories which are a reflection of the economic activities - the Medium and Heavy Commercial Vehicles (M& HCV) and Light Commercial Vehicles (LCV) were on a growth path. The M& HCVs production grew at a healthy clip of 27% in FY16 as against 21% for FY15. LCVs, which had de-grown last year, was on the positive side of growth in the FY16 clocking 10% against a negative 4% in FY15. An overall improvement in the economy coupled with pre-buying of the commercial vehicles due to a possible upward revision of cost as the BS-IV emission norms sets in by April 2017 led to the growth curve. Passenger vehicle production grew at 6% and reflected sustained consumer confidence in the market and the economy. New models, softening oil prices which put more disposable income in the hands of people and an accommodating interest regime supported this growth. Farm Tractors production declined 7% in FY16 marking second consecutive year of decline. Further, a lacklustre growth in the two/ three wheelers segment did impact the overall growth of the industry.

On performance of the Indian Automotive Component Sector during FY16
As we depend on the automobile segment, the growth is usually in line with the industry growth. According to estimates, the auto component sector grew in the range of 3 to 5% in FY16. However, I am confident that over the medium to long term, this sector will outgrow the automobile segment as multiple factors come into play. This would be led by more International sales from and outside of India.

On Rane’s performance in FY16
We have had a reasonably good year in 2015-16 with an aggregate Group Net Sales growth of 11.6% to ₹ 3,260 crore in FY16 from ₹ 2,921 crore in the previous year. Sustained cost savings initiatives, manufacturing process improvements and consolidation of plants helped aggregate EBITDA to grow by 9.1% to reach ₹ 329 crore in FY16 from ₹ 301 crore in FY15. The profit before tax and exceptional item increased by 15.8% to ₹ 133 crore in FY16 from ₹ 115 crores in FY15. We invested ₹ 212 crore in FY16 for various expansion and improvement activities.

On Company’s outlook for FY17
With the Indian economy firmly on a growth path, I am confident of the future of the auto component industry and that of Rane’s. India has a low penetration of passenger cars, two wheelers, commercial vehicles including public transport and this will ensure the growth of the auto industry and its ancillary segments. And we are ready to tap this increasing opportunity. At Rane, we have built capacity and capability in all aspects of the manufacturing process and can now compete with the best in the world. With these inherent advantages coupled with our proven track-record in the domestic and global markets and a well-planned future, we will continue to perform well and reward all stakeholders.

Corporate Information

Board of Directors

Mr. L Lakshman
Executive Chairman
Mr. L Ganesh
Vice Chairman
Mr. Harish Lakshman
Non-Independent Director
Mr. Shujaat Khan
Independent Director
Dr. V Sumantran
Independent Director
Mr. Anjanikumar Choudhari
Independent Director
Dr. (Ms.) Sheela Bhide
Independent Director

Board Committees

Audit Committee

  • Mr. Anjanikumar Choudhari, Chairman
  • Mr. L Ganesh
  • Mr. Shujaat Khan
  • Mr. Anil Kumar Nehru (upto May 27, 2016)

Stakeholders’ Relationship Committee

  • Mr. Harish Lakshman, Chairman
  • Mr. L Ganesh
  • Dr. (Ms.) Sheela Bhide
  • Mr. Anil Kumar Nehru (upto May 27, 2016)

Nomination & Remuneration Committee

  • Mr. Anjanikumar Choudhari, Chairman
  • Mr. Anil Kumar Nehru (upto May 27, 2016)
  • Dr. V Sumantran
  • Mr. Harish Lakshman

Corporate Social Responsibility Committee

  • Mr. L Lakshman, Chairman
  • Mr. L Ganesh
  • Mr. Anjanikumar Choudhari

Management

  • Mr. R Venkatanarayanan

President,
Corporate Services

  • Mr. Siva Chandrasekaran

Executive Vice President,
Secretarial & Legal and Secretary

  • Mr. Chandran Krishnan

Executive Vice President,
Business Development

  • Mr. J Ananth

General Manager,
Finance & CFO

Exchange Listings

  • BSE Limited, Mumbai
  • National Stock Exchange of India Limited, Mumbai

Statutory Auditors

  • Deloitte Haskins & Sells,
    Chartered Accountants
    'ASV N Ramana Towers',
    7th Floor, Old No. 37; New No. 52,
    Venkatanarayana Road, T Nagar,
    Chennai - 600017.

Secretarial Auditor

  • S. Krishnamurthy & Co.,
    Practising Company Secretaries
    “Sreshtam” Old No.17, New No.16
    Pattammal Street, Mandaveli,
    Chennai - 600 028.

Bankers

  • HDFC Bank Limited, Chennai - 600004 YES Bank Limited, Chennai - 600034 Citibank N A, Chennai - 600002
    Indian Bank, Chennai – 600006

Office Address

Registered Office

  • ‘Maithri’ 132, Cathedral Road, Chennai - 600086
  • Phone: +91 44 2811 2472
  • Fax : +91 44 2811 2449
  • Email: investorservices@ranegroup.com
  • Website: www.rane.co.in

Registrar and Share Transfer Agents

  • Integrated Enterprises (India) Limited
  • II Floor, ‘Kences Towers’, No. 1
  • Ramakrishna Street, North Usman Road,
  • T. Nagar, Chennai - 600017.
  • Ph: +91 44 28140801-03
  • Fax: + 91 44 2814249
  • E-mail: corpserv@integratedindia.in

Dream..

A world-class Enterprise

Operational Excellence… at Rane Holdings, we set a goal to achieve operational excellence throughout our group companies. We adopted a group wide TQM philosophy and implemented it relentlessly. Over the years, the group companies were awarded with various Deming Awards showcasing their success in TQM journey.
After accomplishing operational excellence, we are focusing on another dream and are ready for another long, arduous yet gratifying journey... becoming a World-Class Enterprise.
With strong foundations of Operational Excellence, the Company envisions to set new benchmark for Business Excellence by 2020. This program will unite our employees, our customers and our suppliers by engaging them in a common set of goals and achieve a pace of change to outperform competition and differentiate the Company in the marketplace. The dream of becoming a world-class enterprise on the pillar of business excellence will help the Company to accelerate growth by finding new opportunities, in the auto and non-auto space and build a significant business even from outside India. Also, it goes beyond just exporting from India and strengthens our dream of manufacturing outside of India. Near-sourcing is fast becoming the mantra for auto behemoths and we dream to be close to the customers and work with them jointly and create best in line products not only for them but which are benchmarks for the industry.
We have a dream and are ready to achieve it.

Design..

Transport solutions for tomorrow

Times are changing... and changing fast, especially in the automobile industry. The industry is at a tipping point and the future will bring changes like never seen before. Traditional technology companies like Google and Apple are making a foray into the auto segment. Electric car startups are challenging the giants of the traditional auto industry. The fast reducing cost of battery is making mass electric car a reality within the reach of the average car buyers. The concept of car ownership is witnessing a massive upheaval as the new ‘sharing economy’ catches up. Sustainable mobility is finding a new voice, riding on the back of climate change and global warming. Governments at each level, city, state and nation, are seeking solutions to make their citizen’s life healthy.
Connectedness and sustainability are becoming the new norm. This may sound a threat to many players in the auto segments; and could bring untold opportunities for the others. Will self-drive cars make steering wheels redundant? Will brake pads have sensors and talk to the safety features in a connected car... the possibilities are endless. It is not the fittest who will survive the wave of change but the most adaptable. It is now in our DNA to adapt and prosper. We have done it before and will continue to do it.
In our Dream of becoming a world-class enterprise, we take cognizance of the paradigm shift and will continue to channelize our energies to create transport solutions for the new and dynamic world of mobility.

Deliver..

Sustained accelerated value


"A dream doesn’t become reality through magic; it takes sweat, determination and hard work." This quote by the American General, Colin Powell, reflects the grit and resolve adopted by the Company. Hence, the third and the most important element of our Vision 2020 theme – Deliver. If we don’t Deliver, then nothing matters. Delivering consistently accelerated value to each and every stakeholder is no longer a luxury but an imperative for our success.
Our employees recognize the years of hard work put in by the Leadership and HR team to build a culture, where meritocracy is revered and engaging with employees a part of the culture. For our customers, we continue to work together and offer innovative and best in class products. We actively engage with our communities and work to understand and alleviate the development needs of the special children and attempt to mainstream people with hearing and speech disability. Finally for the shareholders, where we hold sacred that all we do is to ensure that we increase their wealth consistently.