Rane Engine Valves Q4 net loss narrows
Rane Engine Valves Ltd.’s (REVL), a leading manufacturer of engine valves, guides and tappets, net loss for the fourth quarter ended March 2019 dropped to ₹1.67 crore from ₹8.80 crore in the year-earlier period. Total revenue rose to ₹106.45 crore from ₹100.79 crore. Cost of raw material rose to ₹44.92 crore from ₹39.44 crore while finance cost increased to ₹2.69 crore from ₹1.92 crore. “REVL posted strong sales growth and improvement in operational performance in FY19. Unfavourable material cost and higher employee cost created headwinds despite plants improving on operational parameters. The management is working on various measures to manage cost during this uncertain demand environment,” said L. Ganesh, chairman, Rane Engine Valves Ltd.
Commenting on the full year sales, a company statement said that sales to lndian original equipment customers grew 7% supported by improved deliveries to passenger car and two-wheeler segments. Sales to lndian aftermarket segment grew 12% despite the engine reconditioning market remaining stagnant and sales to international customers grew 24% supported by ramp up in supplies to key original equipment customer.
