RML2023-10-012023-12-31 RML2023-10-012023-12-31 RML2023-10-012023-12-31in-bse-fin:OneOperatingExpenses01Member RML2023-10-012023-12-31in-bse-fin:FourOperatingExpenses01Member RML2023-12-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 532661 RML NOTLISTED Rane (Madras) Limited Equity 2023-04-01 2024-03-31 2024-01-25 2023-12-29 INR Crores Third quarter 17:30:00 18:50:00 2024-01-25 2024-01-25 Not applicable Single segment The Company operates only in one segment, namely, manufacture and marketing of components and providing technological services for Transportation industry. 2023-10-01 2023-12-31 Unaudited Consolidated 5210500000.00 13700000.00 5224200000.00 3420800000.00 0.00 -113900000.00 519000000.00 146400000.00 208500000.00 914600000.00 5095400000.00 128800000.00 0.00 128800000.00 0.00 37900000.00 37900000.00 0.00 90900000.00 0.00 0.00 0.00 0.00 90900000.00 -3100000.00 87800000.00 0.00 0.00 162700000.00 10 5.59 5.59 0.00 0.00 5.59 5.59 The above FR have been reviewed by the Audit Committee and approved by the BoD at their respective meetings held on Jan 25, 24. The above FR have been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 prescribed under Section 133 of the CA, 2013 and other accounting principles generally accepted in India and in compliance with Reg 33 of the SEBI (LODR) Regulations, 2015. RML and its subsidiaries are engaged in the manufacture of components primarily for Transportation industry, which in the context of Ind AS 108 Operating Segments, is considered as the only operating segment of the Group. Exceptional items comprise: - In the standalone FR: During the yr ended Mar 31, 23, the Co had assessed the carrying value of its investments in a subsidiary and considered the fair value changes thereto resulting in a reduction in the carrying value aggregating to Rs. 223.28 crores being shown as an exceptional item for the qtr and yr ended Mar 31, 23. - In the consolidated FR: As at 31 Mar 23, on account of changes in market conditions and rising cost of capital, the Group had assessed the recoverable amount of the net assets of LMCA the step-down subsidiary of the holding company which represented a single CGU. Based on such assessment, the Group had recorded an impairment charge of Rs. 9.05 crores as an exceptional item in its consolidated FR during the yr ended Mar 31, 23. - Pursuant to the approval of the BoD and Shareholders of the Company, RMIH has sold its entire stake in LMCA on Sep 14, 23 for a consideration of USD 4.9 million. Accordingly, for the qtr ended Sep 30, 23, the Company has recorded a fair value loss aggregating to Rs. 121.56 crores in the standalone FR and loss on sale of the aforesaid step down subsidiary aggregating to Rs. 85.46 crores in the consolidated FR as an exceptional item. Consequent to the sale of LMCA, RMIH, has carried out a reduction of capital in the equity and non-convertible redeemable preference shares issued to the Co. The Co has determined that it is eligible to claim the tax benefit arising from such losses and has accordingly recorded a deferred tax asset of Rs. 113.34 crores in the qtr ended Sep 30, 23. The Co has also obtained legal advice on this matter. The Co believes that it will have sufficient future taxable profits to fully utilize this deferred tax asset. - In the standalone and consolidated FR: for the nine months ended Dec 31, 23, exceptional items includes Rs. 18.75 crores which primarily comprise of provision for one time warranty related costs and expenditure towards VRS (yr ended Mar 31, 23 : Rs. 2.61 crores). Consequent to sale of LMCA, the Group has consolidated the financial performance of LMCA till 14 Sep 23 and the assets / liabilities of LMCA were de-recognized in the consolidated balance sheet on 14 Sep 23. Standalone FR for the quarter ended Dec 31, 22 includes net foreign exchange gain on account restatement of investment in foreign subsidiaries of Rs. 20.06 crores as compared to Rs. 1.68 crores in the qtr ended Dec 31, 23. During the current qtr ended 31 Dec 20, the Co has set up a new subsidiary Rane Automotive Components S. de R.L. de C.V. and is in the process of setting up the manufacturing facility accordingly the Consolidated FR include the financial performance of this subsidiary effective from the current qtr ended 31 Dec 23. The Standalone and Consolidated FR for the qtr and 9 months ended Dec 31, 23 are being published in the newspaper as per the format prescribed under Reg 33 of SEBI LODR. The Standalone and Consolidated FR are also available on the Stock Exchange websites of BSE (www.bseindia.com) and NSE (www.nseindia.com) and on the Company's website viz., www.ranegroup.com. Single segment 2023-04-01 2023-12-31 Unaudited Consolidated 17206300000.00 36200000.00 17242500000.00 10988800000.00 0.00 -242500000.00 2040500000.00 425000000.00 691100000.00 3206800000.00 17109700000.00 132800000.00 -1042100000.00 -909300000.00 0.00 -1033200000.00 -1033200000.00 0.00 123900000.00 0.00 0.00 0.00 0.00 123900000.00 104100000.00 228000000.00 0.00 0.00 162700000.00 10 7.61 7.61 0.00 0.00 7.61 7.61 Other Expenses 914600000.00 Other Expenses 3206800000.00 -5000000.00 -14800000.00 -1200000.00 -3700000.00 -700000.00 -115200000.00