Rane Holdings Ltd.
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ABOUT
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Solid return on assets for a lender - ROA of 12.1%
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 23.7% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 68.6%
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
CONS
- Recent results are weak - TTM profit is down 78.2% versus prior year
- Valuation is stretched - P/E of 28.5 is well above its own 5-year median (12.5)
- Recurring exceptional / one-off items are inflating headline profit
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJAJFINSV | 1917.30 | 30.28 | 307163.22 | 0.08 | 6296.67 | 18.15 | 42036.90 | 92.22 | 11.88 | 40.79 |
| AIIL | 546.65 | 22.13 | 46422.91 | 0.00 | 11082.20 | 1075.19 | 14695.40 | 1109.37 | 13.85 | 88.91 |
| CHOLAHLDNG | 1525.75 | 10.74 | 28650.15 | 0.09 | 1788.99 | 42.04 | 11113.57 | 42.92 | 10.52 | 57.53 |
| TVSHLTD | 13000.05 | 13.35 | 26301.84 | 0.66 | 1173.58 | 73.77 | 17076.18 | 40.01 | 19.39 | 16.25 |
| CGCL | 266.10 | 22.71 | 25602.92 | 0.08 | 353.38 | 102.04 | 1576.47 | 62.12 | 11.68 | 68.54 |
| MAHSCOOTER | 13002.55 | 53.35 | 14860.05 | 1.69 | 3.32 | -90.61 | 5.41 | -81.52 | 1.06 | 84.10 |
| JSWHL | 11435.95 | 92.40 | 12693.48 | 0.00 | 24.54 | -92.74 | 34.58 | 14.97 | 0.58 | 92.45 |
| JMFINANCIL | 124.75 | 11.48 | 11938.08 | 2.61 | 368.57 | -19.66 | 1200.53 | 9.69 | 11.91 | 58.30 |
| TSFINV | 437.25 | 19.95 | 9711.49 | 2.55 | 124.95 | -92.11 | 305.57 | 102.23 | 3.47 | 53.35 |
| RELIGARE | 256.95 | 161.25 | 8857.93 | 0.00 | -46.98 | -674.86 | 2353.40 | 1051.76 | 4.71 | -2.08 |
| KAMAHOLD | 2282.95 | 7.87 | 7326.12 | 1.82 | 584.02 | 10.80 | 4657.56 | 7.07 | 20.86 | 22.01 |
| RANEHOLDIN | 1686.05 | 28.50 | 2407.31 | 2.79 | 48.27 | -16.04 | 1586.88 | 18.35 | 12.19 | 7.73 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 894 | 928 | 837 | 870 | 831 | 916 | 1,241 | 1,374 | 1,341 | 1,399 | 1,535 | 1,609 | 1,587 | |
| 817 | 858 | 747 | 787 | 758 | 835 | 1,162 | 1,278 | 1,239 | 1,302 | 1,423 | 1,483 | 1,554 | |
| Operating Profit | 78 | 70 | 90 | 83 | 73 | 81 | 78 | 95 | 102 | 97 | 112 | 126 | 32 |
| OPM % | 8.68% | 7.57% | 10.77% | 9.58% | 8.81% | 8.86% | 6.30% | 6.94% | 7.61% | 6.94% | 7.28% | 7.84% | 2.05% |
| -17 | -80 | 4 | -3 | 7 | 217 | 4 | -8 | 20 | 9 | 4 | 11 | 7 | |
| Interest | 19 | 17 | 18 | 17 | 17 | 20 | 24 | 24 | 21 | 19 | 19 | 15 | 20 |
| Depreciation | 35 | 35 | 32 | 35 | 33 | 35 | 47 | 52 | 50 | 52 | 52 | 55 | 55 |
| Profit before Tax | 7 | -62 | 44 | 29 | 29 | 243 | 11 | 11 | 51 | 35 | 44 | 66 | 61 |
| Tax % | 76.12% | 157.12% | 24.37% | 23.31% | 45.25% | 25.70% | 141.33% | 162.36% | 11.38% | 44.51% | 32.11% | 7.29% | 20.32% |
| Net Profit | 0 | 0 | 0 | 0 | 20 | 185 | 42 | 117 | 57 | 313 | -395 | 88 | 48 |
| 8.94 | 28.46 | 27.28 | 21.99 | 9.19 | 124.44 | 2.27 | 6.58 | 35.57 | 16.45 | -35.41 | 51.93 | 26.17 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,232 | 2,342 | 2,549 | 2,155 | 2,035 | 2,677 | 3,508 | 3,530 | 4,362 | 5,883 | 6,129 | |
| 2,024 | 2,101 | 2,318 | 2,014 | 1,923 | 2,512 | 3,189 | 3,208 | 4,034 | 5,446 | 5,762 | |
| Operating Profit | 208 | 241 | 231 | 141 | 112 | 166 | 319 | 321 | 328 | 437 | 367 |
| OPM % | 9.30% | 10.29% | 9.08% | 6.55% | 5.51% | 6.19% | 9.11% | 9.11% | 7.52% | 7.43% | 5.99% |
| 118 | 31 | 5 | 28 | 44 | 78 | 11 | -95 | 220 | 44 | 31 | |
| Interest | 44 | 46 | 50 | 51 | 40 | 34 | 50 | 71 | 86 | 75 | 74 |
| Depreciation | 106 | 118 | 126 | 128 | 120 | 129 | 142 | 137 | 168 | 210 | 214 |
| Profit before Tax | 176 | 109 | 60 | -10 | -4 | 74 | 138 | 76 | 329 | 177 | 206 |
| Tax % | 44.90% | 79.87% | 131.53% | -5.01% | -725.25% | 52.35% | 36.65% | -97.64% | 32.82% | 22.68% | 22.71% |
| Net Profit | 97 | 22 | -19 | -10 | -33 | 35 | 87 | 150 | 221 | 137 | 159 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | -35.42 | 16.91 | 43.61 | 86.67 | 145.11 | 68.54 | — |
| Dividend Payout % | 9.10% | 15.89% | 26.16% | -420.00% | 0.00% | 70.99% | 38.99% | 28.84% | 26.19% | 68.58% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 9%
- 5 Years:
- 24%
- 3 Years:
- 19%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 4%
- 5 Years:
- —
- 3 Years:
- 16%
STOCK PRICE CAGR
- 10 Years:
- 7%
- 5 Years:
- 22%
- 3 Years:
- 16%
- 1 Year:
- 14%
RETURN ON EQUITY
- 10 Years:
- 8%
- 5 Years:
- 13%
- 3 Years:
- 17%
- Last Year:
- 12%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 |
| Minority Interest | 237 | 258 | 254 | 230 | 221 | 229 | 243 | 263 | 243 | 272 |
| 699 | 790 | 851 | 808 | 750 | 762 | 794 | 892 | 1,092 | 1,140 | |
| 421 | 460 | 528 | 546 | 556 | 702 | 810 | 336 | 328 | 183 | |
| Trade Payables | 320 | 397 | 385 | 329 | 462 | 499 | 486 | 422 | 760 | 826 |
| 150 | 153 | 177 | 207 | 241 | 227 | 205 | 577 | 1,013 | 1,329 | |
| Total Liabilities | 1,841 | 2,072 | 2,210 | 2,134 | 2,244 | 2,434 | 2,552 | 2,505 | 3,451 | 3,763 |
| 780 | 805 | 797 | 805 | 801 | 843 | 866 | 799 | 1,140 | 1,179 | |
| Capital Work in Progress | 32 | 28 | 33 | 52 | 34 | 27 | 38 | 45 | 109 | 139 |
| 307 | 348 | 387 | 369 | 380 | 353 | 345 | 373 | 369 | 296 | |
| 210 | 248 | 303 | 296 | 280 | 400 | 437 | 421 | 552 | 642 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 604 | 921 | 1,066 | |
| Cash & Bank | 22 | 29 | 37 | 60 | 63 | 28 | 48 | 37 | 42 | 55 |
| 489 | 614 | 652 | 551 | 686 | 782 | 818 | 225 | 319 | 386 | |
| Total Assets | 1,841 | 2,072 | 2,210 | 2,134 | 2,244 | 2,434 | 2,552 | 2,505 | 3,451 | 3,763 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 201 | 177 | 159 | 204 | 160 | 57 | 246 | 233 | 513 | 280 | |
| Cash from Investing | -26 | -66 | -87 | -124 | -96 | -114 | -152 | -114 | -200 | -0 |
| Cash from Financing | -129 | -50 | -16 | -33 | -36 | 65 | -14 | -138 | -324 | -256 |
| 5 | 16 | 7 | 24 | 0 | -34 | 20 | -18 | -11 | 23 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-27 - The transcript of the earnings Conference call is available in the investor information section of the website of the Company at the web-link https://ranegroup.com/investor/rane-holdings-limited/.
2026-08-27 - Rane Holdings Limited has informed the Exchange about ESG Ratings
2026-08-21 - The audio recordings of the earnings Conference call is available in the investor information section of the website of the Company at the web-link https://ranegroup.com/investor/rane-holdings-limited/.
2026-08-20 - Rane Holdings Limited has informed the Exchange about Investor Presentation
2026-08-18 - We hereby inform that an "Earnings Conference Call" is scheduled on, Friday, August 21, 2026 at 15:00 hours (IST).
2026-08-17 - We hereby enclose the copies of extract of Un-audited financial results of the Company for the quarter ended June 30, 2026 published on August 14, 2026 in the newspapers, viz; "Business Standard" (English) and "Hindu Tamizh Thisai" (Tamil)
2026-08-13 - We wish to inform you that the 90th Annual General Meeting (AGM) of the members of the Company was held on Thursday, August 13, 2026 at 15:00 hrs (IST) through VC/OAVM. In this regard, we furnish the following: 1. Summary of Proceedings 2. Voting Results 3. Consolidated scrutinizer report. The AGM concluded at 15:53 hrs (IST).
2026-08-13 - We submit herewith the report of the Audit Committee (Monitoring Agency) dated August 13, 2026
2026-08-13 - Rane Holdings Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
News
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Rane Holdings Ltd.
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