Rane Holdings Ltd

Rane Holdings Limited(RHL) (Erstwhile known as Rane Madras Ltd) is the holding company whose main activity is investing in Rane Group Companies that are engaged primarily in the manufacturing/marketing of components and providing technological services for the transportation industry, mainly the automotive sector. The company has two main product lines -- Tie Rod Ends (TREs) and Steering Gears (SGs) used in steering systems of four-wheelers. Production of TREs, in Madras, is in technical collaboration with TRW Ehrenreich, Germany. The company distributes auto ancillaries of international giants like General Motors, Reynold and American Autos. RML floated a wholly-owned subsidiary, Rane Power Steering (RPSL), in technical collaboration with TRW, US, to manufacture power steering systems used in heavy vehicles and luxury passenger cars. The manual rack and pinion steering gear facility at Pondicherry commenced trial production in the first quarter of 1996. The joint venture company TRW Rane Occupants Restriants for the manufacture of occupant restriant systems viz., seat belts has completed the erection of plant and machinery and the orders have also been received. During 1996-97, RML entered into a joint venture with NSK, Japan and Torrington Company, U.S., for the manufacture of energy absorbing steering columns at Vallancherry, Tamil Nadu. In 2000-01 installed capacity of Steering Gear Products have increased to 464400 No p.a. when compared to previous year of 459000 No. In 2004-05, the Company demerged with Rane (Madras) Manufacturing Ltd. (RMML). In terms of the Scheme, the manufacturing undertaking of the Company was demerged / transferred to RMML with effect from July 01, 2004. Further, the name of RMML was changed to Rane (Madras) Limited and the Company was renamed as Rane (Madras) Limited. Rane (Madras) Limited (RML) was promoted by the Company as a subsidiary Company. With the completion of share consolidation, RML ceased to be a subsidiary of the Company in 2004-05. Effective on 1st April 2006, Company acquired on a going concern basis, the entire business undertaking of Techcons Limited, a company held by Rane Engine Valves Limited and Rane Brake Linings Limited at a cost of Rs.2.50 million. During year 2007-08, the concluding phase of the restructuring exercise involving demerger of the manufacturing undertaking of the erstwhile Rane Engine Valves Limited (REVL) and the erstwhile Rane Brake Linings Limited (RBL) into separate manufacturing companies and amalgamation of their remaining businesses, mainly the investments within the group and other non-manufacturing assets, with the Company through a Court Approved Scheme, were completed during the year effective April 1, 2007. As a consideration on amalgamation of the remaining businesses of REVL and RBL, the Company issued and allotted 4,496,493 equity shares of Rs. 10/- each to the shareholders of these companies. With the amalgamation of the remaining businesses as above, Rane Investments Limited became a wholly owned subsidiary and Rane Diecast Limited became the subsidiary of the Company. In terms of Scheme of Merger approved by the Madras High Court, RIL, a wholly owned subsidiary of the Company was merged with Company effective April 1, 2009. The Company acquired 26% stake in SasMos HET Technologies Limited in FY 2012. It launched upgraded products such as valve stem seal for two-wheeler and passenger car segments, valve seat insert for medium and heavy commercial vehicle, etc. in 2015. As part of technical development for front line managers, Rane Manufacturing Systems Professional (RMSP) was launched in Q1 on manufacturing processes and systems with gemba based learning and business oriented projects in 2017. It acquired 69.41% stake in Bengaluru-based Telematics4u Services Pvt. Ltd - later renamed to Rane t4u Private Ltd., which provides connected mobility solutions in 2018. Read More