Rane Group Business Report FY ended Mar. 2020

Financial Overview

FY ended March 31, 2020
-In the fiscal year ended March 31, 2020, the Group's net revenue from operations decreased by 17.4% over the previous year to INR 44.37 billion.

Developments in India and overseas

Rane Madras Limited
-In May 9, Rane Madras Limited informed that it has partially resumed its operations in most of its plants and offices with restricted manpower w.e.f. May 8, 2020. The continuance of operations in these places however depends on directives of local authorities, issued from time to time and based on incidence of COVID-19 coronavirus cases in the area concerned.

Rane Brake Lining Limited
-In May 9, Rane Brake Lining Limited announced that it has partially resumed its operations in most of its plants and offices with restricted manpower with effect from May 8, 2020. The continuance of operations in these places however depends on directives of local authorities, issued from time to time and based on incidence of coronavirus (COVID-19) cases in the area concerned.

Major Awards

Year	Awarding Company	Award
Rane TRW Steering Systems Pvt. Ltd.
FY ended March 2020	Isuzu Motor India	Most Improved Supplier Award
	Renault Nissan	Best Contribution Award
	Renault Nissan India	Best Supplier Award
	Ashok Leyland LCV Division	Business Alignment-Gold Award
Rane Engine Valve Ltd.
FY ended March 2020	Groupe Renault	Global award for Quality and customer satisfaction (Only Indian Company to be recognized)
	Hyundai	Appreciation award
	Cummins India	Supplier quality
	Renault Nissan India	Quality and Customer Satisfaction
Rane (Madras) Ltd.
FY ended March 2020	Maruti Suzuki India Ltd	Human Resources
	Maruti Suzuki India Ltd	Safety
	Maruti Suzuki India Ltd	Tier 2 supplier improvement
	TAFE	Best Supplier Award
	TATA Motors Ltd	Best supplier award on OES demand fulfilment
	Volvo Eicher Commercial Vehicle	Best Supplier Award for New Product Development

R&D Expenditure

(in million INR)

	FY ended Mar. 31, 2020	FY ended Mar. 31, 2019	FY ended Mar. 31, 2018
Rane (Madras) Limited	130.2	99.0	106.6
Rane Engine Valve Limited	15.8	19.9	16.7
Rane Brake Lining Limited	398.2	273.6	112.9

-In the fiscal year ended March 31, 2020, the Company's R&D expenditures were INR 544 million.

R&D Activities

Rane (Madras) Limited
-Specific R&D activities that Rane (Madras) limited focused on in the fiscal year ended March 31, 2020:

Designed and developed fully automatic assembly station as part of Industry 4.0 initiatives
Special process is optimized through SCADA in Heat Treatment
Skiving process introduced in Hydraulic cylinders to achieve superior quality requirements comparing to global standards
Designed and developed in-house software – Shop Floor Management System - to facilitate service departments support to shop floor operations and implemented in all the plants

Rane Engine Valve Limited
-Specific R&D activities that Rane Engine Valve Limited focused on in the fiscal year ended March 31, 2020:

Proactive R&D engagement with customers and alignment of technology road map
Continued to improve productivity and quality during the year; capacity utilisation improved by 600 bps during the year.

Rane Brake Lining Limited
-Specific R&D activities that Rane Brake Lining Limited focused on in the fiscal year ended March 31, 2020:

Total revamp of R&D testing facilities.

Rane TRW Steering Systems Private Limited (RTSS)
-Specific R&D activities that Rane TRW Steering Systems Private Limited (RTSS focused on in the fiscal year ended March 31, 2020:

Introduced new seat belts technology SPR8 and added iFS1 technology in seat belts, Knee airbag (KnAB) and Curtain airbag (CAB) into the Company’s product portfolio

Rane NSK Steering Systems Private Limited (RNSS)
-Specific R&D activities that Rane NSK Steering Systems Private Limited (RNSS) focused on in the fiscal year ended March 31, 2020: