Bgz

Rane Engine Valve Ltd.

Tel :014 -28112472

Rogisterod Ofico:
Fax:044 -28112449
" Maithri "
URL : www.rane.co.n
132, Calhedral Road,
Chennai 600 086.
lndia.
CIN : 1744999TN1 972P1C006127

May 19,2016

REVUS10T/2016-17
BSE Limited (BSE)
Corporate Rel ation sh ip D epament,
1st Floor, New Trading Ring,
PJ Towers.
Dalal Street, Mumbai 400 001
Code No.532988

Dear

Sir

LIIIIS

Listing Depaftment
Nationat Stock Exchange of India Limited (NSE)
Exchange Plaza, itn Floor, Plot No.C/1 , 'G' Block,
Bandra Kurla Complex, Bandra (E),

Mumbai -400051.
Code: RANEENGINE

/ Madam,

Ref: Our letter dated April 12,2016 vide letter no' REVUSH04/2016'17
sub: outcome of Board Meeting - under Regutation 30 of the sEBl (Listing obligations
and Disclasure Requirements) Regulations, 2015 (SEBI LODR)
The ttttl of ctrcctors of the Company al the neetng held today (May 19, 2016) have inter
alia approved:

(a) the audited financlal resutts for the qua1er and year ended March 31, 2016, as
recommeided by the Audit Committee at ts meeting held on May 19' 2016.

audllgtS@

issued by M/s Brahmayya &

The audited financial results along with the
per
33 of SEBI LODR' A
regulation
enclosed
as
are
Co., Statutory Auditors and
press release relating to tne sa auAteA financal results tls a/so enclosed. The same wll
e upaaed on the webste of the Company v,lww'rane.co.in [Regulation 46].

'@!

The extract of audited financial results for the quafter and year ended March 31 ' 2016
witt be pubtished in newspapers, .e.,'Business standard' and 'Dinamani' [Regulation
471.

(b)
of Mr. Guhanantham P as company secretary / Key Manageral Personnel
' ' Appointment
Act, 2013 and Complance officer of the company for the purpose of
companies
under
Regulation 6 of SEBI LODR.
The meetng of the Board of Drectors commenced at 12:00 Noon and concluded at 2.30 P.M.
Kindly take this on record as compliance with the relevant regulations of SEBI LODR and
acknowledge receipt.
Yours faithfully,

For Rane Engine Valve Limited

-,,

i.'
,t

Siva C*fandrasekaran
Executive Vice- President
(Secretarial and Legal)

Encl: a/a

. Audited financial results

2. Statutory Auditor's rePon
3. Form A
4. Press Re/ease dated MaY 19, 2016
1

':

7.

Rane Engine Valve Limited

Rsgd Otfico: "Mafhr", 132 Cathedral Road, chsnnalS00 086
viait u9 et httJ/rane.co.ln
CIN: L74S99TN1972PLC006127

Statement of Auditd Flnanclal R6ults for ths Quartor and Year ended March 31,2018

Finncll Year endd

Quarto ondd
Partcul13
31,03,2016

Audlted

31.12.20't6
Unaudltd

31.03.2015
Aucfltecl

31.03.2016

Audlted

3t.03.2015
Audlted

lncome from Opertong

{a) Nel SslBs/lncome from Operalions (nel of excise duty)
(b) Othar Opratins lncomg

9,125.2

8,044.95

19,131.09

191.05

155.70

327.08

715.74

71.45

Totel lncom trom oportlona (net)

9,316,31

8,200.86

19,458,17

34,959,90

39,5'18,4{

2,930.06

2,745.53
20.37

7,744.24
258.83

11,880.53
732.94

3,675.08

840.66

(571.66)

9,537.77
2,753.42

9,55E.25

1,327 -73

5.707.83

'11.601.E3

'12.957.05

34,244.2A

38,756.99

Expn3e3

le.

lb.
lc.

Cost of malerials consumed

Purchss of stockln-ld
Changes i lnvenlories offlnished goods, work-in-progress nd

stock-ln-lrd
Employee benefts expenses

ld.
le. Dprecistion and amotisalion expns

t,

Othr Expenses

Totl xpena6s

3. ProUt/ (Loss) lrcm Opralions b8fo Othr lncome,linance costs

& exceptionl llems (1-2)

4- Other lncome
5. Proft / (Loss) from ordinary activils bsfors tnanc costs &
excaptional ltems {3+4)
6. Fnence Cosls

7.

Proft / (Loss) from ordinry eclivties fterfnnce cosls but

befors Exptional ltsms (5-6)

8. Excepllonal ltems (Refer Note:

e) Curenttax (netof MAT credit)

b) Defend tax
c) Relatinq lo Earlir Yeas

981.31

68,55

2,465.05
705.94
2.422.05

2,363.50
701.48
2.813.17

4,708.35

10,015.56

8,892.60

1s.753.23

37,347.66

39,387.6{

(6S9.251

(891.98)

(295.06)

(2,s87,65)

t30.80

32.18

75.01

266,44

295.O2

404.63

(667.07)

{616,94)

(28.821

(2,092,63)

535.43

741.65

'|,422 08

1,A47.94

13,614,71)

|,t,312.51)

340.77

304.9E

(1,007,04)

(981.921

1770.271

4,458.86

1,74A.71

4,458.86

(1,007.84)

Q41.Oa)
(1,223.00)

3,680.59

(r,766.00)

3,146.35

(342,82)

(244,521

0 43

. Net Proft / (Loss) f.om Ordnary Activilies attr lax (9- l 0)

12. Exlrsordinary ltm (n8t of lax sxp8nse.)

peiod (11.12)

14. Paid-up quty ehr6 cptl

(Fc Value of Rr.lo/" pr hare)

0.64

0,43

0.64

(846.70)

2,705,44

11,284.47)

2,347.51

(665.45J

{816.70)
671 .90

2,705.44

\1254.47)

515.10

71 .90

2,347,51
515.10

671 .90

Totl equity shar6 cpital

671 .90

671.90

671.90

of pr6vious accounling yoar

(b) Dlluted

lna

156.80

156.80

15. Re3erve excluding Rvalualon Rsserves as perbalance sheet

1 Frnino rFhr (nfRi 10/-ch) (nnl nnrlcrl)

L Enlngs Per Shre beforc extrordinary tera
(a) Baslc
(b) Oiluted

794.24

9E2.51

(665,461

Addr quity Shares p8nding allolmentto KML Shareholde

pursuant to l\,lerger

Ernng3 Per Shar ftr xtrod

() Bssic

2,836.11

(sr.48)

1 1

932.81

6.25

3)

Prolil / (Loss) frcm ordinary eclvlies befoe lx (7+8)

13. Net Prolit / (Loss) fo th

'111.15

671.9C

671.90

9622.54

10479.67

( in Rs )

(e.e0)

(12.60)

40.27

(l E.07)

34 .94

(e.e0)

(12.60)

40.27

(1 8.671

34 .94

(s.e0)

(12.60)

40.27

(r8.671

34.94

(e.e0)

(12.60)

40.27

(1E.67)

34.94

ry ltemg

Rgd Offce: "Malthd", 132 Cthdrl Rod, Chenna00 0E6

vl6lt us at httpr//rn,c,ln
CIN: L7499gTNt972PLC006127
Sttm ent of Audltd Flnnc la I Results for lhs Qurter n d Ya r e ndsd lvla rc h

31

,201 6

SGImnl of Assels 6nd Llailti6s

P"ttlt
EOI.JII'f AND LIAB.ILITIES

(b) Resrus nd Eulplus

(c) Money rcivd asajnr sha

'/v.ranls
sub.toll . 3hrehold3' fu nd3
Eqly Shre Capltal pndlng allolmnt pulsuantlo schem or msger

Non-curnt llabllllle.
(a) l-ons-lem bonowinss
(b) Defnd lax llaiilios (nl)
(c) Olher loq1m libililis

(d) Longrrm providons

Subot8l' Non{urrent llallllleE

(a) shor-rem boo'/vlnos
(c) Other

@renl libi ities

(d) Shon&m provisions

Subnot1. Curent lrbllllle3

TOTAL EQUITY AND IIABILITIES
'A9SETS

(b) No{uret inverm6ls

(c) Dred

ld

assl (nel)

(d) Long.t6rm loans and dvancs

(e) Othor non cunnt a66ol3

Sub-toi1. Non{urrent.sBts

(d) Csst and cash qulvrnls

() Shodnrm loans and advancs

Sub.tot.l - Curet

3313

O.TAL ASSETS

The bove nancial r6sults rere viewd by te Audit Comjltee nd pprovd by lhe Board of Dlrctos al teir
respec[v meelings held on May 19,2016.
Exc6ptionl ilsms includ lhe follo$/ing:
(l) Voiunlary ReUrmntSch6m xpndilur ol Rs 241.08lskhs for Qualer onded Dembr31 2015 and Rs 1005.22
lakhs for the yer ended Mch 31,2016.
{ll) Plotil on sl ot land ot Rs.2,753.93 lalds forth yar ndEd Mach 31,2016.
(iii) Prcll on s.le or r.nd or Rs.4,458.86 lakhs for th Qurlr ndsd March 31,2015 and tor the yerendd Mrch 31,2015.

Figus for lh quansr nded March 31, 2016 ,quarlr ed6d Dembe31,2015 andyrnded Msrch 31,2016 includ
rlng lo KrMoblles LimiGd, which wB malgmald wilh lh Company plrsuanl $e Schen olAmalgamaon with
ficl frcm Apnl 1 , 2014. Figures for lhe y6 nded Mch 31 , 2015 includ lhos lllng lo $ above uil for lh psnod

thd

Aprll 1 , 2014 lo Marcn 31, 2015, Hsnc {h rsulls for the quarie. nded March 31 ,2016 re nol comPaable wilh th ligurs lor
lho aurndd March 31 .2015.
Th fgu! of lh qurtr nded Mrch 31,2016 16l balanclng fgurs elwon lh audited fgurE in rpcl ot lhe full
nncalyrnd lhg pubsnd yarlo dtefgurs uplo lh lhird quansrorlhe c!renl rnancialyr.

P6vious yr / priod rgus hv bn rgroupd whrvr ncssary lo confo.m io cunent yer / pnods PrEsnlton
Th8 Company op6ls only n oe sgmenl namly, @mponn for lrnsporlaljon lndusly,

fh bov FinanclalResulls r avlll

@mpanys website- ww.rne.@.in

on the Stock Exchang wbsiles

ww.bsindl.com and $lvrv,nseindi.cm nd on lhe

2813 1128,2813 I138

2813 1148,28t3 t 158
: + 9l(044) - 28131158
e-mail : mail@brahmayya.com
Phone

BrahmayyaSrco

Fax

CHARTERED ACCOUNTANTS

48, Masilamani

Road,

Balaji Nagar, Royapettah,

Chenai - 600 014. India.

Auditor's Report On Audited Annual Financial Results of the Company

pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015
To

The Board of Directors

Rane Engine Valve Limited
Chennai

We have audited the accompanying Statement of Financial Results of Rane Engine Valve
tmted ("the Company") for the year ended 3lstMarch, 20L6 ("the Statement,,), being
submitted by the company pursuant to the requirement of Regulation 33 of the sEBl (Listing
Obligations and Disclosure Requirements) Regulations, 2015. This Statement, which is the
responsibility of the company's management and approved by the Board of Directors, nas
been prepared on the basis ofthe related financial statementswhich is in accordance with
accounting standards prescribed under Section 133 of the Companies Act, 2013 read with
relevnt rules issued thereunder, as applicable and other accounting principles generally
accepted in lndia.Our responsibility is to express an opinion on the Statement.
We conducted our audit in accordance with the auditing standards generally accepted in
lndia. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the fnancial results are free of material m isstatement(s). An audit
includes examining, on a test basis, evidence supporting the amounts disclosed in the
Statement. An audit also includes assessing the ccounting principles used and significant
estimates made by management, as well as evaluating the overall presentation of the
Statement. We believc that our audit provides a reasonable basis for our opinion.
ln our opinion and to the best of our information and according to the explanations given to
us, the Statement;

(i)

ls presented in accordance with the requirements of Regulation 33 of the

(Listing Obligations and Disclosure Requirements) Regulations, 2015; and

(ii)

give a true and fair view of the net loss and other financial information of the
company for the year ended 3lstMarch, 2016.

SEBI

The statement includes the results for the quarter ended 31't March, 2016 being the
balancing figure between the audited figures in respect of the current financial year ended
31't March, 2016 and the published year to date figures upto the third quarter of the
current financialyear ended 31't December,2015 which were subjectto limited review by us.
For Brahmayya& Co,,
Accountants
No: 0005115

P.S

Place: Chennai

Pa

Date: May 79,2016

15590

Bgr'
Rane Engine Valve Ltd.

Rogistrod Ofc:
" Maithi
132, Cathedral Road,

'

Iel:044-2811

2472

Fax, i044 -2811 2449

URL : www.rane.co.in

Chnnai 600 086.

lndia.
CIN : 1744999TN 1 97 2PLC006127

FORM A

(Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations,2015
1

Name of the company

Rane Engine Valve Limited

Annual financial statements for the vear

ended

March 31. 2016

Type of Audit observation

Un-modified

Frequency of observation

Not Applicable

Refer Audit Report dated May 19, 2016 on the standalone fjnancial statements of the Company.

For Brahmayya & Co,,

Accountants
(F
istration No. 00051 I S)

For Ran Engine Valve Lmted

PS

L GCdesh
Ghaiiman & Managing Director

Ch

No. r 5590)

ifor

r)

,6W
B Suresh-Kumar
Ghief Financial Officer

Place: Chenna
Date: May 19,2016

w=-

C N Srivtsan
Chrman - Audit Committee

Expondng Horizons
Press Releose

Rone Engine Volve limlled repods full yeor

resulls for Fy
so/es

income of Rs. 349.0 crores ogonsf Rs. 3g5. 18

crores for previous yeor
'perofrng
j
EBIIDA of
Rs. .6 Crores ogonst Rs. g3.22
Crores for prevous yeor
Nef Loss of Rs' r 2'54 crores ogonsf Net profif
of

chenno,

Rs

23.4g crores for prevous vear

Moy 20r: Rone Engine vorve Limred (REVL), (BSE:532988,

NSE: RANEENGTNE) o reoding
monufocfurer of Engine volves, Guides & Toppels
fodoy onnounced iis results for lhe yeqr ended 3lsr
Morch 20 .
19rh

The compony regisiered soles & operofing

lncome of Rs. 349.0 crores for ihe yeor ended 3l,r Morch
20i os ogoinst Rs' 3?5'18 crores for lhe previous
yeor. The decline in soles is moinly oflribufed
to lower
offfoke in served models in possenger cors in
lndio ond end of mojor progrom of o Europeon cusromer.
Though fhe Two wheeler segment sow
modesi growlh,

REVL's limiled presence n the scooter segmenl

oflribuled lo soles decline compored o previous
yeor. our lorge volve business wos offecfed
by
slowdown in ol & Gos seclor ond lower
offloke from locomotive customers. Furlher, we sow slrucfurol
decline in lhe oflermorkei demond for Engine poris.
Export soles constluled 2g% ol ,netotol soles for
s

tne yeor.

The compony reporfed Nel Loss of Rs.

12.54 crores ogoinsi Net profil

of Rs.23.4g crores for lhe prevous

yeor' lhis wos driven by higher employee
cost ond lower copocity utilisolon. During the yeor,
REVL iook
vorious meosures with focus on long lerm
improvements in productivify ond reduciion of row
moleriol

/n-house quolify cosis. The compony os pori of fhe

rolionolizolion of foclilies, consoldofed the peenyo
Plonl (Eengoruru) with Hirehori pronf
{Tumokuru) ro become more cosr efficienr.

\r

"During this chollenging time ot REVL,

our efforts ore focused on sfringent cosf conrror nfiotives
ond
mokng slrotegic investmenfs fo revve sores growth.
we hove invested on deveroping high
performonce moleriols ond speciol
surfoce coolng io provide superor producls meerng
newer
emission norms ond engines requiremenfs.
These present us wth opportunties in lndio
ond globolly lo
drve soles growfh in the coming yeors,,soid
l, Gonesh, Choirmon, Rone Group

q'ry

Exponding Horlzons

The summory of f inonciol performonce is given below:(R

s. Crores)

2015-l

Soles ond Operoling Revenues

Ofher Income

Operoting

PBT

(before excepiionol ifems)

Exceplonql [(Expenses)/ tncome] tlems*

34?.60

2014-t5
395. t8

2.9 5

4.05

t? I (

fr3.r3)

17.49

44 .5?

Profit/(Loss) before Tox

(17 .66)

31 .46

Profit/(Loss) ofler Tox

(12.s41

23.48

*Excepfiono/ lems includes;

a) Proff on sole of lnd of

bl Volunfary

--

ENDS

For

Rs.

27.54 Cr for lhe yeor

ended March

Retremenf Scherne IVRS/ expendture of

Rs, iO.OS

31,

2016 ond Rs. 44,59 Cr for lhe yeor ended Morch 3t,20tS.

Cr or lhe year ended Morch 3l,, 20],6.

furlher informollon, pleose conlocl:

Ms. Povllhro Lqkshmonon

Ms. V Usho

orond-comm

Corporole Communicolions, Rone Group

Iel: +?l 44 4229 2443

Tel: +91 98409 9840

Aboul Rone Engne Volve Lld.

Estoblished in I g5?, Rone Engine volve Lmiled (REVL) is porl of fhe Rone Group of componies, o
leoding outo componeni group bosed oui of Chennoi. REVL monufoclures engine volves, volve guides

ond toppets for vorious lC engine opplicotions. REVL is morkel leoder in lndion OEM ond replocemenl
morkefs. REVL colers to oll segmenls of oufomobile induslries such os possenger vehicle, commerciol
vehicle, Trocfor, 2 wheelers ond 3 wheelers, sloiionory engines, roilwoys ond morine engines.

Aboul Rone Group

Heodquorlered in Chennoi, Indio, Rone Group is engoged primorily in monufocluring oulo componenrs
for well over five decodes. Rone Group is o preferred supplier fo mojor OEMS in Indio ond obrood.
Through ifs group componies, il monufoclures Steering ond Suspension systems, FricTion moteriols, Volve

Troin componenls,

occuponl sofely syslems, Die-cosling producis ond Aerospoce-grode

wkng

hornesses. lls producls serves o voriety of induslry segments including Possenger Vehicles, Commercol
Vehcles, Form Troctors, Two-wheelers, Three-wheelers, Roilwoys ond Slolionory Engines.