RML2023-07-012023-09-30 RML2023-07-012023-09-30 RML2023-07-012023-09-30in-bse-fin:OneOperatingExpenses01Member RML2023-07-012023-09-30in-bse-fin:FourOperatingExpenses01Member RML2023-09-30 RML2023-07-012023-09-30in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member RML2023-07-012023-09-30in-bse-fin:FourItemsThatWillNotBeReclassifiedToProfitAndLoss01Member RML2023-07-012023-09-30in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member RML2023-07-012023-09-30in-bse-fin:FourItemsThatWillBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 532661 RML NOTLISTED Rane (Madras) Limited Equity 2023-04-01 2024-03-31 2023-10-30 2023-09-29 INR Crores Half yearly 11:40:00 13:35:00 2023-10-30 2023-10-30 true Cash Flow Indirect Not applicable Single segment The Company operates only in one segment, namely, manufacture and marketing of components and providing technological services for Transportation industry. 2023-07-01 2023-09-30 Unaudited Consolidated 6112400000.00 6400000.00 6118800000.00 3872200000.00 0.00 -43400000.00 737900000.00 134600000.00 239400000.00 1226900000.00 6167600000.00 -48800000.00 -854600000.00 -903400000.00 -13400000.00 -1067700000.00 -1081100000.00 0.00 177700000.00 0.00 0.00 0.00 0.00 177700000.00 99000000.00 276700000.00 0.00 0.00 0.00 0.00 162700000.00 10 10.93 10.93 0.00 0.00 10.93 10.93 The above FR have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on October 30, 2023. The above FR have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 Interim Financial Reporting ( Ind AS 34 ), prescribed under Section 133 of the Companies Act, 2013 and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Rane (Madras) Limited and its subsidiaries are engaged in the manufacture of components primarily for Transportation industry, which in the context of Indian Accounting Standard (Ind AS) 108 – Operating Segments, is considered as the only operating segment of the Group. Exceptional items comprise: - In the standalone FR: During the year ended Mar 31, 2023, the Company 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 quarter and year ended Mar 31, 2023. - In the consolidated FR: As at Mar 31, 2023, on account of changes in market conditions and rising cost of capital, the Group has assessed the recoverable amount of the net assets of Rane Light Metal Castings Inc, USA ('LMCA') the step-down subsidiary of the holding company which represents a single cash generating unit (CGU). Based on such assessment, the Group has recorded an impairment charge of Rs. 9.05 crores as an exceptional item in its consolidated FR during the year ended Mar 31, 2023. - Pursuant to the approval of the Board of Directors and Shareholders of the Company vide postal ballot on June 17, 2023, Rane Madras International Holdings B.V. (the Company's subsidiary) has sold its entire stake in LMCA (the Company's step-down subsidiary) on September 14, 2023 for a consideration of USD 4.9 million. Accordingly, for the quarter ended September 30, 2023, 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, Rane Madras International Holdings B.V., has carried out a reduction of capital in the non-convertible redeemable preference shares issued to the Company. The Company 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 quarter ended September 30, 2023. The Company has also obtained legal advice on this matter. The Company believes that it will have sufficient future taxable profits to fully utilize this deferred tax asset. - In the standalone and consolidated FR: for the quarter ended June 30, 2023, exceptional items amounting to Rs. 18.75 crores primarily comprise of provision for one time warranty related costs and expenditure towards Voluntary Retirement Scheme (year ended Mar 31, 2023 : Rs. 2.61 crores). Consequent to sale of LMCA, the Group has consolidated the financial performance of LMCA till September 14, 2023 and the assets / liabilities of LMCA were de-recognized in the consolidated balance sheet on September 14, 2023. The Standalone and Consolidated FR for the quarter and half year ended September 30, 2023 are being published in the newspaper as per the format prescribed under Regulation 33 of SEBI (Listing Obligations and Disclosure requirements) Regulations, 2015. 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 2023-09-30 Unaudited Consolidated 11995800000.00 22500000.00 12018300000.00 7568000000.00 0.00 -128600000.00 1521500000.00 278600000.00 482600000.00 2292200000.00 12014300000.00 4000000.00 -1042100000.00 -1038100000.00 0.00 -1071100000.00 -1071100000.00 0.00 33000000.00 0.00 0.00 0.00 0.00 33000000.00 107200000.00 140200000.00 0.00 0.00 0.00 0.00 162700000.00 10 2.04 2.04 0.00 0.00 2.04 2.04 Other Expenses 1226900000.00 Other Expenses 2292200000.00 3929400000.00 169900000.00 46300000.00 65600000.00 19300000.00 0.00 98500000.00 117800000.00 1121800000.00 723300000.00 6174100000.00 2451700000.00 0.00 3495700000.00 345800000.00 800000.00 3500000.00 923200000.00 4769000000.00 7220700000.00 13394800000.00 162700000.00 2394000000.00 2556700000.00 2556700000.00 2655600000.00 49400000.00 2705000000.00 83900000.00 34800000.00 2823700000.00 3921400000.00 3167600000.00 374800000.00 7463800000.00 258900000.00 291700000.00 8014400000.00 10838100000.00 13394800000.00 278600000.00 -134500000.00 382600000.00 0.00 -77000000.00 0.00 56700000.00 -34000000.00 0.00 -47200000.00 0.00 156400000.00 -73500000.00 482600000.00 0.00 201300000.00 6500000.00 0.00 -59600000.00 25300000.00 0.00 3900000.00 0.00 0.00 0.00 -1400000.00 -4900000.00 854600000.00 0.00 2008600000.00 970500000.00 0.00 0.00 0.00 172700000.00 0.00 797800000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5800000.00 719600000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 168400000.00 0.00 0.00 0.00 0.00 0.00 0.00 2000000.00 0.00 100000.00 0.00 -543300000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8386800000.00 8395300000.00 0.00 13400000.00 0.00 260100000.00 0.00 94800000.00 -187200000.00 67300000.00 8300000.00 75600000.00 270200000.00 345800000.00 Amount of items that will not be reclassified to profit and loss -400000.00 Amount of items that will not be reclassified to profit and loss -9800000.00 -400000.00 -9800000.00 -100000.00 -2500000.00 Exchange differences on translating financial statements of foreign operations 99300000.00 Exchange differences on translating financial statements of foreign operations 114500000.00 99300000.00 114500000.00 0.00 0.00