Rane (Madras) Limited – in its standalone financial results for Q2 FY2024-25 – has registered a decline of 7.2 percent in total revenue at INR 5.31 billion. The total revenue in Q2 FY2023-24 was INR 5.72 billion. 
The EBITDA of the group stood at INR 397 million for Q2 FY2024-25 as compared to INR 526 million during the corresponding quarter in last fiscal, marking a decline of 24.5 percent. 
The manufacturer and supplier of steering and suspension products as well as light metal casting components, Rane (Madras) registered EBITDA margin at 7.5 percent in Q2 FY2024-25 against 9.2 percent in Q2 FY2023-24. PAT stood at INR 28 million for Q2 FY2024-25, marking a decline of 60.7 percent year-on-year. It was INR 72 million in Q2 FY2023-24. 
The consolidated financial results for Q2 FY2024-25 put the total revenue earnings at INR 5.3 billion as compared to INR 6.1 billion in Q2 FY2023-24. This marks a decline of 13.3 percent. 
EBITDA stood at INR 274 million for Q2 FY2024-25 as compared to INR 325 million during Q2 FY2023-24, an increase of 15.1 percent. 
EBITDA margin was at 7.1 percent for Q2 FY2024-25 as compared to 5.3 percent in Q2 FY2023-24
Net Loss stood at INR seven million for Q2 FY2024-25 as compared to PAT of INR 178 million in Q2 FY2023-24
In operating terms, the group saw its sales to domestic OE customers (FT and CV particularly) decline by 10 percent. 
Export Sales also registered a decline of six percent on the back of lower off-take of steering products particularly in the ATV segment.
Sales in the Indian Aftermarket was also muted and the EBITDA margin declined by 171 bps. 
Lower material cost was offset by certain one-off provisions.
 
 

MathWorks, a global leader in mathematical computing software for engineers and scientists, today successfully concluded its MathWorks Automotive Conference 2024 that was held in Pune, highlighting breakthroughs in software-defined vehicles (SDVs), electrification and artificial intelligence (AI).

The event witnessed participation from over 700 automotive professionals, engineers and industry leaders from across the country and displayed the latest technological advancements and engineering challenges in the automotive industry. Advanced driving assistance systems (ADAS), SDVs, electrification, virtual engineering and AI-driven engineered systems were among the topics covered during the conference, along with a technology demonstration with MathWorks clients and engineering professionals.

Panels on ADAS, semiconductors' influence on the SDV era, SDV development through Model-Based Design and AI deployment for mobility solutions were also included at the event. MathWorks experts and officials from KPIT Technologies, Bosch, Tata Motors, Ashok Leyland, Mahindra & Mahindra and Mercedes-Benz R&D India conducted these technical discussions.

In a keynote address titled ‘The Roadmap for Software-Defined Vehicles and Disruptive Technologies’, Jim Tung, MathWorks Fellow, focused on how the development and expansion of model-based methodologies alter the value of software in automobiles. He also talked about the importance of generative AI in the automobile industry using a cooperative, multi-vendor strategy, as well as the cloud as a focused engineering enabler.

Tung said, "Model-Based Design integrates mechanical, electrical and control systems into a unified model to facilitate seamless collaboration across disciplines, enabling teams to simulate, test and validate complex vehicle systems in a virtual environment. This not only speeds up development cycles but also improves the reliability and performance of the final product. MathWorks is dedicated to advancing the future of SDVs, offering scalable software to tackle the complex challenges of modern vehicle design."

Texas Instruments (TI), a global semiconductor company, has announced its India Automotive Seminar 2024, which will be held on 19 November in Pune and 22 November in Bangalore, with an aim to brief about the latest innovations and emerging automotive trends.

The seminar will provide attendees with a chance to interact with the company’s experts during workshops on how to apply TI's breakthrough technology to solve crucial areas in automotive applications such as battery management system (BMS), automobile access and infotainment.

In addition to instructional workshops, participants will be able to observe real demonstrations of TI's analogue and embedded processing portfolio, as well as design resources for hybrid and electric powertrain systems, body electronics and lighting solutions and infotainment and cluster systems.

Elizabeth Jansen, sales director, Texas Instruments India, said, "To address ever-evolving challenges, automakers are looking to semiconductor advancements from reliable suppliers. In areas such as intelligent EV powertrains and software-defined vehicles, the insights and technologies at TI’s India Automotive Seminar will help drive automotive forward alongside automakers. We’re building reliable, cost-efficient and intelligent technologies that are at the core of safer and smarter vehicles.”

RSB Group, one of India’s largest automotive component manufacturers, is celebrating its 50th anniversary and has plans to honour the decades of innovation, resilience and growth by achieving 3X growth in the next three to four years.

RSB Group was founded by brothers R K Behera and S K Behera in 1974 with just INR 200,000, which included a state subsidy for Technocrats for INR 20,000. The company has now expanded into an INR 30 billion-plus industry major, employing more than 6,000 people, and plans to celebrate the 50-year milestone by focusing on surpassing the INR 100 billion revenue mark before launching an IPO in the next 3-4 years.

These expansion aspirations will be greatly aided by a recent strategic alliance with Bain Capital, which made an investment in RSB a few months ago. With a strong emphasis on global markets, especially when it comes to growing operations in Mexico, this partnership will help both organic and inorganic growth. At the moment, RSB runs two factories abroad, 17 manufacturing sites in India and a tech subsidiary called I-DESIGN Engineering Solutions Ltd in Pune. Major domestic and foreign customers of the firm include Ford, Fiat, Isuzu, Cummins, John Deere, Volvo, Renault Nissan, JCB, Ashok Leyland, Mahindra & Mahindra and Tata Motors.

Early difficulties notwithstanding, RSB's journey acquired tremendous impetus with a crucial contract from Tata Motors, which resulted in growth of almost 75 percent annually until 1990 and a steady 25 percent CAGR after that. In order to give OEMs a comprehensive solution and establish itself as a powerful player in the e-mobility industry, RSB is also investing in the electric vehicle (EV) market as part of its sustainable growth plan. RSB is working with an Israeli startup to create EV solutions, such as controllers, motors, and e-axles. Over the next five years, the business plans to generate 25 percent of its income from EV components and 75 percent from conventional car components as part of a strategic revenue mix.

R K Behera, Chairman, RSB Group, stated, “Looking back on 50 years of RSB, I am deeply grateful for the journey we’ve taken. The celebration is not just about marking a milestone; it’s a tribute to the humble beginning, to the dedication and shared values that have brought us here. This journey wasn’t one I took alone; it was built alongside my brother, S K Behera, whose support and determination carried us through our most challenging times. In the beginning, we faced intense struggles – limited resources, financial setbacks and constant hurdles – but with SK by my side and the unyielding spirit of our employees, we persisted. Every success is truly a testament to the sacrifices, resilience and dedication of our RSB parivar. As we look forward, I urge our next generation to hold fast to these values of integrity, quality and respect. They are also expected to have a strong focus on sustainability. Together, we have not only achieved growth but also built a legacy that we can proudly pass on, impacting our communities and industry for years to come.”

S K Behera, Vice Chairman, RSB Group, said, “Our journey from a small workshop to an industry leader with an INR 30 billion-plus revenue base has been one of resilience, strategic vision and a focus on excellence. From the earliest days, we were guided by the belief that taking care of our people would allow us to achieve remarkable things. Every milestone reflects the hard work, talents and sacrifices of our employees, whose dedication and commitment have driven RSB forward. As we now embrace new opportunities – from electric vehicle technology to expanding into international markets – our focus remains on building with integrity and quality. Looking to the future, we will continue setting new industry standards, not just for growth but for creating lasting value and impact in every market we enter. We are exploring a few opportunities, and a decision will be taken in a few months.”

Setco Automotive Limited has reported record breaking revenue for the first half of the current financial year at INR 3.22 billion, up 11 percent as compared to the revenue of INR 2.90 billion in the corresponding period last fiscal. 
Specialising in the manufacture of commercial vehicle clutch systems, the automotive Tier 1 supplier declared the results at the board meeting on 14 November 2024. 
The EBITDA registered for the H1 FY25 is INR 463 million as against INR 270 million in H1 FY24, a year-on-year growth of 72 percent on account of an increase in volumes in the aftermarket segment mainly. 
With improved operational efficiencies and cost savings, the company recorded EBITDA margin for the first half at 14.4 percent. 
The operating revenue for the second quarter of FY2024-25 was INR 1.59 billion as against INR 1.45 billion in Q2 of FY2023-24 on account of an increase in OE and aftermarket supplies. 
The EBITDA for the Q2 of FY2024-25 was INR 260 million as against INR 127 million in Q2 of FY2023-24, marking a year-on-year growth of 104 percent on account of an increase in sales and focused approach on cost savings particularly. 
The EBITDA margin for Q2 FY2024-25 stood at 16.2 percent.