Rane (Madras) Ltd., has, in a press release, stated that despite the domestic automobile market remaining weak, with the exception of 
the farm tractor segment, the company registered sales & operating income of Rs. 161.59 crores for the quarter ended December 31, 2013, as against Rs. 156.68 crores for the same quarter of last year. The company sales in the domestic and export markets grew by three per cent and 11 per cent respectively over the same quarter last year.
During the quarter, the scheme of amalgamation of Rane Diecast Ltd. with the company was approved with requisite majority by the public shareholders (non-promoters). Also, the scheme was approved by requisite majority of equity shareholders of the company at the court-convened general meeting held on December 5 last.
Rane Engine Valve
Rane Engine Valve Ltd. of the Rane Group, has stated that the domestic automobile market continued to register negative growth in the quarter ended December 31, 2013, with the exception of the farm tractor and two-wheeler segments.
The company registered sales & operating income of Rs. 64.65 crores during the quarter as against Rs. 60.25 crores for the same quarter of the previous year. Sales to the aftermarket and exports grew by six per cent and 29 per cent respectively. However, sales in the domestic OE declined marginally by one per cent over the same quarter last year.
The company reported a significant improvement in operating PBT in the quarter, thanks to the restructuring initiatives taken during the year.
Kar Mobiles
Kar Mobiles Ltd., also of the Rane Group, a leading auto components manufacturer of large engine valves for automotive & marine applications, continued to register negative growth in the quarter ended December 31, 2013.
The company registered sales & operating income of Rs. 29.73 crores for the quarter as against Rs. 30.83 crores for the same quarter of the previous year. Though export sales declined by 10 per cent, domestic sales grew by five per cent.
EBIDTA at Rs. 3.02 crores was up five per cent and profit before tax at Rs. 1.51 crores was up 35 per cent over the same quarter last year.