Rane Engine Valve Limited income up 22% and net profit 151% YoY

Company Brief

Chennai, May 19, 2011

Rane Engine Valve Limited, (BSE Listing Code 532988, NSE listing code RANEENGINE), leading auto components manufacturers of Engine Valves, Valve guides and tappets, which is a part of Rane Group, announced its audited results today for the year ended 31st March 2011.

The Company registered Sales & Operating Income of Rs.28,845 Lakhs for the current fiscal year as against Rs.23,603 lakhs for the previous year ended 31st March 2010. This represents a growth of 22% on year on year basis. The total dividend for the year is 50% (including 30% interim dividend) as against 30% for last year.

Mr. L. Ganesh, Chairman of the Rane Group observed that growth in the sales and profits was due to robust growth in all the segments in the domestic market and recovery in volumes in the export market. In addition, effective cost reduction initiatives, consistent and stable output and a reasonably stable raw material cost contributed to the increase in Profit before Tax.

The highlights of financial performance is given below:

For further information, please contact:

Sampark PR

Krishna Moorthy S

Tel: 044-24358873

Email: krishnamoorthy.s@sampark.com