Copyright FOURIN, Inc. 2022
Rane Group Delays Production Expansion of New Plants Due to Shrinking Domestic Market
Rane Group is an Indian automotive parts supplier whose core business is steering and suspension parts. For the first time in the fiscal year ended March 31, 2019, group sales exceeded 50 billion Indian rupees. Due to the shrinking Indian market in the fiscal year ending March 31, 2020, the financial results for April to December 2019 have fallen sharply. However, Rane Group is planning to expand its group sales to 60 billion-70 billion Indian rupees in the medium term through its mainstay suspension parts-related business and joint ventures with Nisshinbo, NSK and ZF TRW.
Rane Group’s holding company Rane Holdings has been increasing share in its subsidiaries. It acquired an additional 3.75% in Rane Engine Valve in September 2018 and an additional 1.78% in Rane (Madras), increasing its management right as a holding company.