Registered Office:

" Mathri "

lel :91 4428112472
Fax :91 44 2811 2449
132, Cathedral Road,
Chennai 600 086. URL : www.rane.co.in
lnda.
CIN : 163011TN2004P1C054948

Rane Brake Lining Limited

//Online Submission//
RBLtSEt4T t2016-17 February 9, 2017

BSE Limited National Stock Exchange of lndia Ltd.

Listing Centre NEAPS
Scrip Code: 532987 Symbol :RBL

Dear Sr / Madam,

sub: Earnings Presentation - unaudted Financlal Results for th quarter and nne
months ended Decmber 31, 2016
Ref: Our letter no, RBL / SE / 43 / 2016-i7 dated Januery 17, 2017

with reference to our aforementioned letter intimating Earnings call on February 10,2017 lo
discuss the financial results of the company for qurter and nine months endd December
31, 2016, we enclose herewith a copy of the Earnings presentation for the analysts and
investors.

The same is also being made available on the website of the company www.rane.co.ln

Kindly take this disclosure on record as compliance with the relevant provisions of sEBl
LODR and acknowledge receipt.

Thanking you.

Yours faithfully
For Rane Limted
 Rane Group
Earnings Presentation | Q3 FY17

F e b r u a r y 2 0 1 7

www.ranegroup.com

Not to be copied or distributed without permission of Rane Holdings Limited

1
 Outline

Industry Performance Review Q3 FY17

Rane Group Performance Review Q3 FY17

Group Companies Performance Highlights Q3 FY17

Not to be copied or distributed without permission of Rane Holdings Limited

2
 Industry Performance Review (Q3 FY17)

Production YoY Rane Group Sales Growth in Rane Group Revenue

Vehicle Segment
Growth# in % % (India OEM) Split * (India OEM)
Passenger Cars (PC) 8% 22% 46%
Utility Vehicles (MUV) 32% 29% 17%
Vans (MPV) -12% -2% 1%
Small Commercial Vehicles (SCV) -6% 4% 2%
Light Commercial Vehicles (LCV) 2% 21% 8%
Medium & Heavy Commercial Vehicles
4% 16% 15%
(M&HCV)
Farm Tractors (FT) 41% 23% 6%
2-Wheeler -4% 10% 3%

* Negligible presence in 3-wheeler. Other segments such as Rail, Stationary Engines, Aerospace & Defence contribute 2%

Registered higher growth in passenger vehicle segment as we supply to some of the successful new models of OE

Share of business improvement with key customers in CV segment helped beat sluggish demand and post better growth

Growth in the Farm Tractors segment is limited mainly due to higher growth in unserved markets

Performance in 2-Wheeler segment was helped by share improvements with key customer

# Source: SIAM
Not to be copied or distributed without permission of Rane Holdings Limited
3
 Outline

Industry Performance Review Q3 FY17

Rane Group Performance Review Q3 FY17

Group Companies Performance Highlights Q3 FY17

Not to be copied or distributed without permission of Rane Holdings Limited

4
 Group Aggregate Performance Review (FTQ)

Net Sales (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.)
10.7% 5.0%
9.7%

974.22 104.32 3.4% 48.57

772.12 74.54
26.2% 39.9% 82.8%
26.57

Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17

* PBT before exceptional items

Net Sales increased by 26.2% to Rs 974.22 Cr in Q3 FY17 from Rs 772.12 Cr in Q3 FY16

Revenues from Indian customers grew 22% supported by robust supplies to new passenger vehicle models and increased offtake
in LCV and M&HCV segment
Revenues from International customers grew 85% supported by increased demand for Die-casting products, Steering
components and also driven by overseas acquisition made by Rane (Madras) Limited
EBITDA increased by 39.9% to Rs 104.32 Cr in Q3 FY17 from Rs 74.54 Cr in Q3 FY16
Continued focus on operational cost reduction resulted in margin improvement
PBT increased by 82.8% to Rs 48.57 Cr in Q3 FY17 from Rs 26.57 Cr in Q3 FY16
Note: Q3 FY17 figures includes the effect of acquisition of Rane Precision Die Casting Inc. by Rane (Madras) Limited, hence not comparable with the previous period
Not to be copied or distributed without permission of Rane Holdings Limited
5
 RHL Consolidated Performance Review (FTQ)

Net Sales (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.)
10.5% 10.8% 4.2%
3.6%
702.67 29.72
561.60 76.22
58.93
25.1% 29.3% 20.02 48.4%

Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17

* PBT before exceptional items

Net Sales increased by 25.1% to Rs 702.67 Cr in Q3 FY17 from Rs 561.60 Cr in Q3 FY16

EBITDA increased by 29.3% to Rs 76.22 Cr in Q3 FY17 from Rs 58.93 Cr in Q3 FY16

PBT increased by 48.4% to Rs 29.72 Cr in Q3 FY17 from Rs 20.02 Cr in Q3 FY16

Note: Q3 FY17 figures includes the effect of acquisition of Rane Precision Die Casting Inc. by Rane (Madras) Limited, hence not comparable with the previous period

Not to be copied or distributed without permission of Rane Holdings Limited

6
 Group Aggregate Performance Review (YTD)

Rs Cr 9M FY16 9M FY17 Growth

Net Sales 2,358.09 2,891.51 22.6%

EBITDA 233.36 311.55 33.5%
EBITDA Margin 9.9% 10.8%
PBT Before Exceptional Items 89.85 141.12 57.1%
OP. PBT Margin 3.8% 4.9%
Exceptional (Expenses) / Income 14.64 93.61
PBT 104.49 234.73 124.6%
PBT Margin 4.4% 8.1%
PAT 71.51 169.45 137.0%
PAT Margin 3.0% 5.9%

Note: YTD-FY17 figures includes the effect of acquisition of Rane Precision Die Casting Inc. by Rane (Madras) Limited, hence not comparable with the previous period

Not to be copied or distributed without permission of Rane Holdings Limited

7
 RHL Consolidated Performance Review (YTD)

Rs Cr 9M FY16 9M FY17 Growth

Net Sales 1,696.86 2,104.97 24.1%

EBITDA 179.88 235.33 30.8%
EBITDA Margin 10.6% 11.2%
PBT Before Exceptional Items 65.30 94.01 44.0%
OP. PBT Margin 3.8% 4.5%
Exceptional (Expenses) / Income 14.31 93.81
PBT 79.61 187.82 135.9%
PBT Margin 4.7% 8.9%
PAT 54.49 137.87 153.0%
PAT Margin 3.2% 6.5%

Note: YTD-FY17 figures includes the effect of acquisition of Rane Precision Die Casting Inc. by Rane (Madras) Limited, hence not comparable with the previous period

Not to be copied or distributed without permission of Rane Holdings Limited

8
 Outline

Industry Performance Review Q3 FY17

Rane Group Performance Review Q3 FY17

Group Companies Performance Highlights Q3 FY17

Not to be copied or distributed without permission of Rane Holdings Limited

9
 Rane (Madras) Ltd.
(RML)

Not to be copied or distributed without permission of Rane Holdings Limited

10
 RML Standalone Operational Performance Review

Business Split (Q3 FY17)

Market Environment
By Market (%)
Strong demand from Passenger Car and Commercial Vehicle segments for the
India Aftermarket, 15
Steering Gear Products

Higher demand for Die-casting products from both International and Indian customers
India
OEM&OES,
Performance in the Farm Tractors segment is subdued mainly due to higher growth in Intl. OEM, 25 60

unserved markets

Indian Aftermarket business was impacted by demonetization

Operational Highlights By Vehicle Segment (%)

Continued growth in die-cast division supported by ramp up in production volumes at
SCV, 4 MPV, 2
the new unit. However, continued to experience delivery issues and higher rejections
LCV, 10
in the new program launches.
M&HCV, PC, 31
12
In Steering and Linkages division, 3 major launches for the rack and pinion product
along with additional volumes in existing programs.

Puducherry plant faced certain operational ramp up issues; additional capacity FT, 19
MUV, 22
created in Varanvasi plant as a de-risk measure
Not to be copied or distributed without permission of Rane Holdings Limited
11
 RML Standalone Financial Performance Review (FTQ)

Net Sales (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.)
8.9% 8.5% 2.0%
236.47
200.65 20.17
17.83 4.05
0.8%
17.9% 13.1% (54.9%)

1.83

Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17

* PBT before exceptional items

Net Sales increased by 17.9% to Rs 236.47 Cr in Q3 FY17 from Rs 200.65 Cr in Q3 FY16

Strong demand from Passenger Car and Commercial Vehicle segments for the Steering Gear Products

EBITDA increased by 13.1% to Rs 20.17 Cr in Q3 FY17 from Rs 17.83 Cr in Q3 FY16

EBITDA margins witnessed a slight drop on account of unfavorable product mix

PBT declined by 54.9% to Rs 1.83 Cr in Q3 FY17 from Rs 4.05 Cr in Q3 FY16

Drop in PBT margin due to higher finance cost and depreciation in the new die-casting plant

Not to be copied or distributed without permission of Rane Holdings Limited

12
 RML Standalone Financials (YTD)

Rs Cr 9M FY16 9M FY17 Growth

Net Sales 609.61 700.78 15.0%

EBITDA 57.09 68.29 19.6%
EBITDA Margin 9.4% 9.7%
PBT Before Exceptional Items 16.30 13.81 -15.2%
OP. PBT Margin 2.7% 2.0%
Exceptional (Expenses) / Income (2.70) -
PBT 13.60 13.81 1.6%
PBT Margin 2.2% 2.0%
PAT 10.01 12.00 19.9%
PAT Margin 1.6% 1.7%

Not to be copied or distributed without permission of Rane Holdings Limited

13
 Rane Engine Valve Ltd.
(REVL)

Not to be copied or distributed without permission of Rane Holdings Limited

14
 REVL Operational Performance Review

Business Split (Q3 FY17)

Market Environment
By Market (%)
Sales to India OEMs in 2-Wheelers and Commercial Vehicles segment and India Intl. Others, 2
Aftermarket,
Aftermarket impacted due to demonetization 12

India
Aftermarket,
11
India
OEM&OES,
Operational Highlights 60
Intl. OEM,
Continued focus on operational cost reduction and lower finance costs helped in 15

reducing the loss for the quarter

REVL won "Best Supplier 2016 - Quality" award from Tata Motors and "Quality Award" By Vehicle Segment (%)

from John Deere thereby recognizing its strong quality culture SCV&LCV,
MUV&MPV, 4
5
FT, 10 PC, 25

M&HCV,
10

2W/3W, 22
Rail & Others,
24

Not to be copied or distributed without permission of Rane Holdings Limited

15
 REVL Financial Performance Review (FTQ)

Net Sales (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.)
4.2% Q3 FY16 Q3 FY17
80.45 79.99
3.38 46.9%

(0.6%) (5.21)
1.1% 300.3%

0.85 (9.82)

Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17

* PBT before exceptional items

Net Sales marginally declined by 0.6% to Rs 79.99 Cr in Q3 FY17 from Rs 80.45 Cr in Q3 FY16

Lower demand from 2-wheeler segment

Aftermarket sales adversely impacted due to demonetisation

EBITDA increased by 300.3% to Rs 3.38 Cr in Q3 FY17 from Rs 0.85 Cr in Q3 FY16

Favorable material cost helped to improve EBITDA margin

Loss before tax for Q3 FY17 was Rs 5.21 Cr as against loss of Rs 9.82 Cr in Q3 FY16

Lower finance cost resulted in reducing the loss for the quarter
Not to be copied or distributed without permission of Rane Holdings Limited
16
 REVL Financials (YTD)

Rs Cr 9M FY16 9M FY17 Growth

Net Sales 251.19 259.98 3.5%

EBITDA 6.22 11.76 88.9%
EBITDA Margin 2.5% 4.5%
PBT Before Exceptional Items (25.07) (17.05) 32.0%
OP. PBT Margin -10.0% -6.6%
Exceptional (Expenses) / Income 17.49 94.02
PBT (7.58) 76.96
PBT Margin -3.0% 29.6%
PAT (5.89) 57.54
PAT Margin -2.3% 22.1%

Note: Exceptional Income includes profit on sale of company's part land in Alandur, Chennai

Not to be copied or distributed without permission of Rane Holdings Limited

17
 Rane Brake Lining Ltd.
(RBL)

Not to be copied or distributed without permission of Rane Holdings Limited

18
 RBL Operational Performance Review

Business Split (Q3 FY17)

Market Environment
By Market (%)
Experienced strong demand from Indian OEM customers predominantly in the Railways &
Intl. Others, 3
passenger vehicle and commercial vehicle segment Aftermarket,
6

The Indian aftermarket business was affected due to demonetization, however, disc
India
pads products maintained its growth momentum OEM&OES,
India
Aftermarket, 53
Demand drop in the rail segment while international aftermarkets recorded flat 38

performance

Operational Highlights
By Vehicle Segment (%)
ICRA has reaffirmed the A+ rating for long term fund based facilities with outlook
MPV, 2
revised from stable to positive LCV, 2
FT, 2 SCV, 1
Others, 4
The effect of adverse currency movement and unfavorable product mix was offset 2W, 5
M&HCV,
by continued cost reduction and operating measures MUV, 13 36

PC, 35

Not to be copied or distributed without permission of Rane Holdings Limited

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 RBL Financial Performance Review (FTQ)

Net Sales (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.)
14.7% 14.8% 10.7%
9.7%
119.41 17.66 12.77
111.59 16.44 10.87

7.0% 7.4% 17.5%

Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17

* PBT before exceptional items

Net Sales increased by 7.0% to Rs 119.41 Cr in Q3 FY17 from Rs 111.59 Cr in Q3 FY16

Growth driven by strong demand from OEM segments

EBITDA increased by 7.4% to Rs 17.66 Cr in Q3 FY17 from Rs 16.44 Cr in Q3 FY16

Sustained cost savings initiatives and manufacturing process improvements

PBT increased by 17.5% to Rs 12.77 Cr in Q3 FY17 from Rs 10.87 Cr in Q3 FY16

Substantial reduction in interest costs due to repayment of long term borrowings and reduction in short term borrowing

Not to be copied or distributed without permission of Rane Holdings Limited

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 RBL Financials (YTD)

Rs Cr 9M FY16 9M FY17 Growth

Net Sales 324.33 353.45 9.0%

EBITDA 39.46 52.87 34.0%
EBITDA Margin 12.2% 15.0%
PBT Before Exceptional Items 22.36 37.62 68.2%
OP. PBT Margin 6.9% 10.6%
Exceptional (Expenses) / Income - -
PBT 22.36 37.62 68.2%
PBT Margin 6.9% 10.6%
PAT 16.62 30.30 82.3%
PAT Margin 5.1% 8.6%

Not to be copied or distributed without permission of Rane Holdings Limited

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 Rane TRW Steering Systems Pvt. Ltd.
(RTSS)

Not to be copied or distributed without permission of Rane Holdings Limited

22
 RTSS Operational Performance Review

Business Split (Q3 FY17)

Market Environment
By Market (%)
Occupant Safety Division: Robust demand for occupant safety products
International
Steering Gear Division OEM, 19

Higher demand from utility vehicle segment and share growth in LCV segment
India
India
Aftermarket, 4
Demonetisation impacted served models in passenger cars and aftermarket OEM&OES,
77

business

Operational Highlights
By Vehicle Segment (%)
Increased share of business in LCV segment and with select customers in M&HCV
segment for steering products
M&HCV,
Secured new business for Airbags and Seat Belts PC, 22
29

Commenced regular export shipments of new technology pre-tensioner seat belts

Plants in Chennai were affected by Cyclone Vardah and production was resumed
SCV & LCV,
within 4 days 13 MUV & MPV,
36

Not to be copied or distributed without permission of Rane Holdings Limited

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 RTSS Financial Performance Review (FTQ)

Net Sales (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.)
12.3% 13.1% 8.9%
7.5%
27.04 18.45
206.63

152.81 18.81
35.2% 43.8% 11.39 62.0%

Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17

* PBT before exceptional items

Net Sales increased by 35.2% to Rs 206.63 Cr in Q3 FY17 from Rs 152.81 Cr in Q3 FY16

Growth driven by significant increase in sales to Indian OE and Export markets

Volume growth in both SGD and OSD and commencement of seat belt export

EBITDA increased by 43.8% to Rs 27.04 Cr in Q3 FY17 from Rs 18.81 Cr in Q3 FY16

Sustained cost reduction measures showing positive results in the overall margin performance

PBT increased by 62.0% to Rs 18.45 Cr in Q3 FY17 from Rs 11.39 Cr in Q3 FY16

Favourable exchange rates helps in improvement in PBT margin

Not to be copied or distributed without permission of Rane Holdings Limited
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 RTSS Financials (YTD)

Rs Cr 9M FY16 9M FY17 Growth

Net Sales 505.15 607.85 20.3%

EBITDA 59.89 73.21 22.2%
EBITDA Margin 11.9% 12.0%
PBT Before Exceptional Items 37.46 48.28 28.9%
OP. PBT Margin 7.4% 7.9%
Exceptional (Expenses) / Income (0.15) (0.41)
PBT 37.31 47.87 28.3%
PBT Margin 7.4% 7.9%
PAT 25.69 33.16 29.1%
PAT Margin 5.1% 5.5%

Not to be copied or distributed without permission of Rane Holdings Limited

25
 Rane NSK Steering Systems Pvt. Ltd.
(RNSS)

Not to be copied or distributed without permission of Rane Holdings Limited

26
 RNSS Operational Performance Review

Business Split (Q3 FY17)

Market Environment
By Market (%)
Higher PV volumes of EPS driven by increased off-take from served models
Export, 1

CV revival dampened on account of demonetization

India
OEM&OES,
99
Operational Highlights

Won new business for I-shaft Assembly (EPS)

Successfully started production for key new program launches in CV segment By Vehicle Segment (%)

Impact of Cyclone Vardah limited to 2 days and there were no customer line
M&HCV, 2 Others, 1
SCV, LCV, 2
disruptions

PC, 66
MUV, 29

Not to be copied or distributed without permission of Rane Holdings Limited

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 RNSS Financial Performance Review (FTQ)

Net Sales (Rs cr.) EBITDA (Rs cr.) PBT* (Rs cr.)
13.3% 8.7%
229.35 9.7%
30.40
192.23 19.96
4.7%
19.3%
18.58 63.6% 119.8%
9.08

Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17

* PBT before exceptional items

Net Sales increased by 19.3% to Rs 229.35 Cr in Q3 FY17 from Rs 192.23 Cr in Q3 FY16

Sales growth driven by higher demand form pass car and MUV segments

EBITDA increased by 63.6% to Rs 30.40 Cr in Q3 FY17 from Rs 18.58 Cr in Q3 FY16

Increased localization ratio leading to lower material costs.

PBT increased by 119.8% to Rs 19.96 Cr in Q3 FY17 from Rs 9.08 Cr in Q3 FY16

Sourcing of lower interest bearing debts helped improve PBT margin

Not to be copied or distributed without permission of Rane Holdings Limited

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 RNSS Financials (YTD)

Rs Cr 9M FY16 9M FY17 Growth

Net Sales 551.54 689.77 25.1%

EBITDA 61.00 85.86 40.8%
EBITDA Margin 11.1% 12.4%
PBT Before Exceptional Items 33.65 53.69 59.6%
OP. PBT Margin 6.1% 7.8%
Exceptional (Expenses) / Income - -
PBT 33.65 53.69 59.6%
PBT Margin 6.1% 7.8%
PAT 21.69 34.85 60.7%
PAT Margin 3.9% 5.1%

Not to be copied or distributed without permission of Rane Holdings Limited

29
 Thank You

Rane Corporate Centre

For further information, please contact:
Maithri" 132, Cathedral Road,
[email protected] or [email protected]
Chennai - 600 086, India

www.ranegroup.com

Not to be copied or distributed without permission of Rane Holdings Limited

30
 Glossary of Abbreviations

Abbreviation Expansion Abbreviation Expansion

CV Commercial Vehicles OES Original Equipment Supplier

FT Farm Tractors PBT Profit Before Tax

FY Financial Year PC Passenger Car

LCV Light Commercial Vehicles PV Passenger Vehicles

MPV Multi Purpose Vehicles P&L Profit & Loss

MUV Multi Utility Vehicles SCV Small Commercial Vehicles

M&HCV Medium & Heavy Commercial Vehicles

SIAM Society of Indian Automobile Manufactures
Earnings Before Interest, Tax and
EBITDA
Depreciation & Amortisation
UV Utility Vehicles
OE Original Equipment
2W/3W Two Wheeler/Three Wheeler
OEM Original Equipment Manufacturer

Not to be copied or distributed without permission of Rane Holdings Limited

31
 Disclaimer

This presentation contains certain forward looking statements concerning Ranes future business prospects and business
profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those
in such forward looking statements. The risks and uncertainties relating to these statements include, but not limited to risks
and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and
international), economic growth in India and the target countries for exports, ability to attract and retain highly skilled
professionals, government policies and action with respect to investments, fiscal deficits, regulations etc., interest and other
fiscal costs generally prevailing in the economy. The company does not undertake to make any announcement in case
any of these forward looking statement become materially incorrect in future or update any forward looking statements
made from time to time by or on behalf of the Company.

Not to be copied or distributed without permission of Rane Holdings Limited

32