Rane Holdings Ltd.

•

ranegroup.comBSE: 505800NSE: RANEHOLDIN

Market Cap₹ 2,329 Cr.

Current Price

High / Low₹ 1,894 / 981

Stock P/E26.7

Book Value₹ 463

Price to Book2.18

Dividend Yield2.88 %

ROCE14.0 %

ROE13.4 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Financial Services

Buy

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.

Confidence

84%

View full sector analysis →

PROS

Company has delivered good profit growth of 128.4% CAGR over last 5 years
Solid return on assets for a lender - ROA of 12.1%
Latest quarter profit grew 39.9% YoY, showing strong momentum
Company has delivered good sales growth of 20.6% CAGR over last 5 years
Company has a consistent dividend-paying track record
Company generates healthy free cash flow

CONS

Effective tax rate is unusually low at 5.9% - earnings may be flattered
Operating margins have contracted to 56.7% from 61.1%
Growth is decelerating - 3Y profit CAGR (20.5%) trails the 5Y trend (128.4%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesFinanceFinance - Investment

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	BAJAJFINSV	1958.00	30.92	313683.61	0.08	6296.67	18.15	42036.90	92.22	11.88	40.79
2.	AIIL	519.30	21.02	44100.28	0.00	11082.20	1075.19	14695.40	1109.37	30.27	88.91
3.	CHOLAHLDNG	1503.20	10.58	28226.71	0.09	1788.99	42.04	11113.57	42.92	10.52	57.53
4.	TVSHLTD	13145.00	13.50	26595.10	0.65	1173.58	73.77	17076.18	40.01	19.39	16.25
5.	CGCL	271.75	23.19	26146.53	0.07	353.38	102.04	1576.47	62.12	11.68	68.54
6.	MAHSCOOTER	13642.20	55.98	15591.08	1.61	3.32	-90.61	5.41	-81.52	1.06	84.10
7.	JMFINANCIL	134.50	12.38	12871.11	2.42	368.57	-19.66	1200.53	9.69	11.91	58.30
8.	JSWHL	11523.05	93.10	12790.15	0.00	24.54	-92.74	34.58	14.97	0.58	92.45
9.	TSFINV	406.05	18.52	9018.53	2.75	124.95	-92.11	305.57	102.23	3.47	53.35
10.	RELIGARE	251.85	158.05	8682.12	0.00	-46.98	-674.86	2353.40	1051.76	4.71	-2.08
11.	KAMAHOLD	2344.15	8.08	7522.51	1.77	584.02	10.80	4657.56	7.07	20.86	22.01
12.	RANEHOLDIN	1631.35	27.58	2329.21	2.88	48.27	-16.04	1586.88	18.35	12.19	7.73

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	26	69	26	26	57	36	23	25	26	76	28	36	28
	13	14	13	12	13	16	14	14	17	20	18	17	18
Operating Profit	13	55	13	14	44	20	9	11	8	55	11	20	10
OPM %	50.08%	80.07%	49.98%	53.86%	77.40%	55.34%	38.59%	44.31%	32.88%	73.14%	37.54%	54.32%	34.77%
	-3	0	2	1	1	1	0	1	2	1	1	2	1
Interest	1	1	1	1	0	0	0	1	1	1	1	1	1
Depreciation	1	1	1	1	1	2	2	1	1	1	1	1	1
Profit before Tax	8	53	12	13	43	19	7	9	8	54	9	19	11
Tax %	20.37%	14.57%	14.93%	14.56%	14.40%	16.52%	14.54%	7.61%	11.67%	11.82%	6.96%	-13.29%	12.41%
Net Profit	6	45	11	11	37	16	6	9	7	47	8	22	10
	4.19	31.79	7.37	7.82	26.05	11.09	4.45	6.12	4.77	33.19	5.90	15.40	6.67

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	71	96	116	97	65	89	118	147	141	166	168
	32	35	38	35	29	35	46	52	57	72	73
Operating Profit	39	61	78	62	36	54	71	95	84	94	95
OPM %	55.04%	63.71%	67.64%	63.66%	54.99%	60.83%	60.68%	64.81%	59.61%	56.71%	56.74%
	28	2	13	0	-15	3	-2	1	3	6	5
Interest	3	2	2	2	3	6	6	5	2	5	4
Depreciation	1	1	1	3	3	3	4	5	6	5	5
Profit before Tax	63	59	87	57	15	48	59	86	79	90	93
Tax %	20.64%	17.01%	12.72%	10.90%	90.92%	28.91%	18.18%	15.13%	14.11%	5.89%	6.18%
Net Profit	50	49	76	51	1	34	48	73	68	85	87
EPS	0.00	0.00	0.00	0.00	0.95	23.73	33.82	51.16	47.70	59.25	—
Dividend Payout %	24.37%	42.44%	35.53%	22.48%	0.00%	50.58%	50.26%	48.86%	79.67%	79.32%	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 21%
3 Years:: 12%

COMPOUNDED PROFIT GROWTH

10 Years:: 9%
5 Years:: 128%
3 Years:: 21%

STOCK PRICE CAGR

10 Years:: 7%
5 Years:: 20%
3 Years:: 18%
1 Year:: 10%

RETURN ON EQUITY

10 Years:: 11%
5 Years:: 11%
3 Years:: 13%
Last Year:: 13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	335	367	417	445	454	491	522	564	601	637
	15	28	19	22	67	69	57	1	51	22
Trade Payables	3	1	2	1	2	2	3	2	3	3
	4	6	9	20	24	14	15	15	25	24
Total Liabilities	372	417	461	502	562	591	612	596	694	700
	89	88	88	105	103	102	106	67	65	62
Capital Work in Progress	2	4	10	0	0	0	0	0	0	0
	252	302	337	373	434	475	479	495	548	577
	0	0	0	0	0	0	0	11	11	17
Cash & Bank	4	1	1	2	1	1	3	4	3	5
	25	22	26	23	23	13	24	19	66	38
Total Assets	372	417	461	502	562	591	612	596	694	700

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	38	55	81	62	34	65	66	83	78	85
Cash from Investing	-2	-42	-30	-40	-62	-33	-15	4	-100	6
Cash from Financing	-20	-6	-40	-13	34	-14	-37	-86	21	-89
	2	-3	-0	1	-1	-0	2	1	-1	2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	34.87	34.17	53.47	35.59	0.95	23.73	33.82	51.16	47.70	59.25
Book Value (₹)	244.94	267.29	301.83	321.79	328.12	353.94	375.60	404.66	430.88	456.15
Dividend per Share (₹)	8.50	14.50	19.00	8.00	0.00	12.00	17.00	25.00	38.00	47.00
Cash EPS (₹)	35.86	35.06	54.26	37.84	3.10	25.89	36.88	54.72	51.77	62.63
PROFITABILITY
Operating Margin %	94.44%	65.31%	78.46%	64.15%	56.39%	83.85%	61.13%	64.81%	59.60%	56.71%
Net Margin %	70.26%	51.06%	65.86%	52.22%	2.09%	38.15%	41.05%	49.75%	48.39%	51.07%
ROE %	15.26%	13.34%	18.79%	11.41%	0.29%	6.96%	9.27%	13.11%	11.42%	13.36%
ROCE %	18.86%	15.78%	20.89%	12.53%	3.47%	9.56%	11.08%	15.51%	12.93%	13.99%
	13.20%	12.37%	17.39%	10.55%	0.26%	5.88%	8.03%	12.10%	10.56%	12.14%
EFFICIENCY
Debtor Days	25	34	37	40	59	34	24	26	28	30
Inventory Days	0	0	0	0	0	0	0	0	0	0
Payable Days	0	0	0	0	0	0	0	0	0	0
	25	34	37	40	59	34	24	26	28	30
FINANCIAL HEALTH
Debt to Equity (x)	0.04x	0.07x	0.04x	0.08x	0.16x	0.14x	0.10x	0.00x	0.10x	0.05x
Interest Coverage (x)	23.57x	26.12x	38.23x	27.29x	5.85x	9.08x	11.52x	19.43x	48.20x	19.02x
	4.79x	1.39x	1.00x	0.99x	1.12x	0.37x	1.02x	3.16x	2.41x	1.52x
GROWTH
Revenue Growth %	-5.44%	34.82%	21.34%	-16.08%	-33.12%	36.45%	32.50%	24.82%	-4.15%	17.71%
Operating Profit Growth %	44.61%	-6.77%	45.76%	-31.38%	-41.20%	102.89%	-3.40%	37.34%	-12.14%	14.90%
Net Profit Growth %	39.69%	-2.03%	56.51%	-33.45%	-97.32%	2391.18%	42.56%	51.26%	-6.78%	24.23%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	51.26%	-6.78%	24.23%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	21.22x	26.74x	16.78x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	2.68x	2.96x	2.18x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.30%	2.98%	4.73%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	15.65x	21.63x	14.49x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	46.57	46.55	46.55	46.55	46.55	46.55	46.55	46.63	46.63
	0.49	0.92	0.85	0.81	0.83	1.05	0.82	0.76	0.93
	1.77	3.14	3.81	3.84	3.83	4.03	4.09	4.11	3.39
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	51.17	49.38	48.79	48.80	48.79	48.36	48.55	48.48	49.05

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-27

Analysts/Institutional Investor Meet/Con. Call Updates

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

Credit Rating- New

2026-08-27 - Rane Holdings Limited has informed the Exchange about ESG Ratings

2026-08-21

Analysts/Institutional Investor Meet/Con. Call Updates

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

Investor Presentation

2026-08-20 - Rane Holdings Limited has informed the Exchange about Investor Presentation

2026-08-18

Analysts/Institutional Investor Meet/Con. Call Updates

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

Copy of Newspaper Publication

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

Shareholders meeting

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

Monitoring Agency Report

2026-08-13 - We submit herewith the report of the Audit Committee (Monitoring Agency) dated August 13, 2026

2026-08-13

Statement of deviation(s) or variation(s) under Reg. 32

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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Free 5nance Account

Name

BAJAJFINSV

1958.00

30.92

313683.61

0.08

6296.67

18.15

42036.90

92.22

11.88

40.79

AIIL

519.30

21.02

44100.28

0.00

11082.20

1075.19

14695.40

1109.37

30.27

88.91

CHOLAHLDNG

1503.20

10.58

28226.71

0.09

1788.99

42.04

11113.57

42.92

10.52

57.53

TVSHLTD

13145.00

13.50

26595.10

0.65

1173.58

73.77

17076.18

40.01

19.39

16.25

CGCL

271.75

23.19

26146.53

0.07

353.38

102.04

1576.47

62.12

11.68

68.54

MAHSCOOTER

13642.20

55.98

15591.08

1.61

3.32

-90.61

5.41

-81.52

1.06

84.10

JMFINANCIL

134.50

12.38

12871.11

2.42

368.57

-19.66

1200.53

9.69

11.91

58.30

JSWHL

11523.05

93.10

12790.15

0.00

24.54

-92.74

34.58

14.97

0.58

92.45

TSFINV

406.05

18.52

9018.53

2.75

124.95

-92.11

305.57

102.23

3.47

53.35

RELIGARE

251.85

158.05

8682.12

0.00

-46.98

-674.86

2353.40

1051.76

4.71

-2.08

KAMAHOLD

2344.15

8.08

7522.51

1.77

584.02

10.80

4657.56

7.07

20.86

22.01

RANEHOLDIN

1631.35

27.58

2329.21

2.88

48.27

-16.04

1586.88

18.35

12.19

7.73

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

Operating Profit

OPM %

50.08%

80.07%

49.98%

53.86%

77.40%

55.34%

38.59%

44.31%

32.88%

73.14%

37.54%

54.32%

34.77%

-3

Interest

Depreciation

Profit before Tax

Tax %

20.37%

14.57%

14.93%

14.56%

14.40%

16.52%

14.54%

7.61%

11.67%

11.82%

6.96%

-13.29%

12.41%

Net Profit

4.19

31.79

7.37

7.82

26.05

11.09

4.45

6.12

4.77

33.19

5.90

15.40

6.67

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

116

118

147

141

166

168

Operating Profit

OPM %

55.04%

63.71%

67.64%

63.66%

54.99%

60.83%

60.68%

64.81%

59.61%

56.71%

56.74%

-15

-2

Interest

Depreciation

Profit before Tax

Tax %

20.64%

17.01%

12.72%

10.90%

90.92%

28.91%

18.18%

15.13%

14.11%

5.89%

6.18%

Net Profit

EPS

0.00

0.95

23.73

33.82

51.16

47.70

59.25

—

Dividend Payout %

24.37%

42.44%

35.53%

22.48%

0.00%

50.58%

50.26%

48.86%

79.67%

79.32%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

335

367

417

445

454

491

522

564

601

637

Trade Payables

Total Liabilities

372

417

461

502

562

591

612

596

694

700

105

103

102

106

Capital Work in Progress

252

302

337

373

434

475

479

495

548

577

Cash & Bank

Total Assets

372

417

461

502

562

591

612

596

694

700

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Cash from Investing

-2

-42

-30

-40

-62

-33

-15

-100

Cash from Financing

-20

-6

-40

-13

-14

-37

-86

-89

-3

-0

-1

-0

-1

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

34.87

34.17

53.47

35.59

0.95

23.73

33.82

51.16

47.70

59.25

Book Value (₹)

244.94

267.29

301.83

321.79

328.12

353.94

375.60

404.66

430.88

456.15

Dividend per Share (₹)

8.50

14.50

19.00

8.00

0.00

12.00

17.00

25.00

38.00

47.00

Cash EPS (₹)

35.86

35.06

54.26

37.84

3.10

25.89

36.88

54.72

51.77

62.63

PROFITABILITY

Operating Margin %

94.44%

65.31%

78.46%

64.15%

56.39%

83.85%

61.13%

64.81%

59.60%

56.71%

Net Margin %

70.26%

51.06%

65.86%

52.22%

2.09%

38.15%

41.05%

49.75%

48.39%

51.07%

ROE %

15.26%

13.34%

18.79%

11.41%

0.29%

6.96%

9.27%

13.11%

11.42%

13.36%

ROCE %

18.86%

15.78%

20.89%

12.53%

3.47%

9.56%

11.08%

15.51%

12.93%

13.99%

13.20%

12.37%

17.39%

10.55%

0.26%

5.88%

8.03%

12.10%

10.56%

12.14%

EFFICIENCY

Debtor Days

Inventory Days

Payable Days

FINANCIAL HEALTH

Debt to Equity (x)

0.04x

0.07x

0.04x

0.08x

0.16x

0.14x

0.10x

0.00x

0.10x

0.05x

Interest Coverage (x)

23.57x

26.12x

38.23x

27.29x

5.85x

9.08x

11.52x

19.43x

48.20x

19.02x

4.79x

1.39x

1.00x

0.99x

1.12x

0.37x

1.02x

3.16x

2.41x

1.52x

GROWTH

Revenue Growth %

-5.44%

34.82%

21.34%

-16.08%

-33.12%

36.45%

32.50%

24.82%

-4.15%

17.71%

Operating Profit Growth %

44.61%

-6.77%

45.76%

-31.38%

-41.20%

102.89%

-3.40%

37.34%

-12.14%

14.90%

Net Profit Growth %

39.69%

-2.03%

56.51%

-33.45%

-97.32%

2391.18%

42.56%

51.26%

-6.78%

24.23%

0.00%

51.26%

-6.78%

24.23%

VALUATION

P/E (x)

0.00x

21.22x

26.74x

16.78x

P/B (x)

0.00x

2.68x

2.96x

2.18x

Dividend Yield %

0.00%

2.30%

2.98%

4.73%

0.00x

15.65x

21.63x

14.49x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

46.57

46.55

46.63

0.49

0.92

0.85

0.81

0.83

1.05

0.82

0.76

0.93

1.77

3.14

3.81

3.84

3.83

4.03

4.09

4.11

3.39

Government

0.00

51.17

49.38

48.79

48.80

48.79

48.36

48.55

48.48

49.05

Rane Holdings Ltd.

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Quarterly Results

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Rane Holdings Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI