Rane Engine Valve Ltd

Rane Engine Valve Limited (REVL) is a manufacturer of engine valves, guides and tappets for Passenger Cars (PC), Commercial Vehicles (CV), Farm Tractors, Stationary Engines, Railway / Marine Engines and Two / Three- wheelers. The Company operates in a single reportable business segment, viz. components for the internal combustion engine industry applicable for stationary and transportation engine applications. REVL is market leader in Indian OEM and replacement markets. It is having their manufacturing facilities located at Alandur, Ponneri and Pudukottai in Tamil Nadu and Medchal and Aziz Nagar in Andhra Pradesh. Rane Engine Valve Ltd was incorporated on March 9, 1972 with the name Techcons Ltd. The company was incorporated with the main object to carry on the business of consultancy services within the Rane Group. In March 31, 2006, the company transferred their entire undertaking on a going concern basis to Rane Holdings Ltd with effect from April 1, 2006. In September 2007, the company amended their Objects and Capital clauses in their Memorandum of Association to facilitate carrying on of manufacturing of inlet and exhaust valves, valve guides and valve tappets for I.C. engines. In December 2007, as per the scheme of de-merger, merger and amalgamation, the he company took over the manufacturing undertaking of erstwhile Rane Engine Valves Ltd (de-merged company) with effect from April 1, 2007. In terms of the scheme, the name of the company was changed from Techcons Ltd to Rane Engine Valve Ltd with effect from February 6, 2008. During the year 2008-09, the company set up two production lines with a capacity of 2.5 million valves per annum on two shifts basis at their new plant near Trichy in the state of Tamilnadu and commenced commercial production. During the year 2009-10, the company commissioned one more one more production line at the Trichy plant with an additional capacity of another 1.25 million valves per year. Thus, the company increased the production capacity of Valves by 5,962,000 Nos to 48,409,000 Nos, Guides by 2,088,000 Nos to 12,900,000 Nos and Tappets by 170,000 Nos to 1,940,000 Nos. The Company in 2012-13, developed valves suitable for flex fuel application which is predominantly used in some of the Latin American countries. Further, in tappets, it developed prototypes for forged tappets, more specifically using thin walled section which is finding favour with the global trend of 'light weighting' requirements. It expanded capacity of Trichy Plant by 10% with the commissioning of one new line during March 2013. Two pronged approach was followed to manage the power cost impact - Focus on consumption reduction with a target of 10% reduction was achieved and secondly, focus on power mix like Electricity Board, Diesel Generator, Windmill and Private Power to reduce overall costs. In 2014-15, the Scheme of Amalgamation of Kar Mobiles Limited (KML) with the Company was implemented by which, the business undertakings of KML got transferred and vested with the Company effective April 1, 2014. In consideration of the Scheme, the Board of Directors, on May 04, 2015, allotted 15,68,000 equity shares of Rs. 10/- each fully paid up in the ratio of 7:10 i.e. 7 fully paid up shares of equity shares of the Company for every 10 equity shares of KML.