Rane Engine Valve Limited

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Rane Engine Valve Limited
TypePublic company
BSE: 532988, NSE: RANENG
IndustryAutomotive
Founded1959
FounderLakshmana Iyer Lakshminarayan
Headquarters
Chennai
,
India
Key people
L. Ganesh (Chairman)
K Murali Rajagopalan(President)
ProductsEngine valves, valve guides and tappets
₹26.27 billion (US$350 million) (FY2012-13)
Total assets₹25.108 billion (US$330 million) (2012)
ParentRane Holding Limited
Websiteranegroup.com/rane-engine-valve-limited/

Rane Engine Valve Limited is a part of Rane Group of companies involved in the manufacture of valves and valve train components for various engine applications. Incepted in the year 1959, it is one of the oldest engine valve manufacturers[1] that caters in the auto industry. The company is headquartered in Chennai and has five manufacturing locations with 1 plant in Chennai, 2 in Hyderabad, 1 in Tumkur and a plant in Tiruchirapalli.[2] It is the largest manufacturer of engine valves in India with an 30% market share.[3]

The company offers its products to companies engaged in the manufacture of passenger cars, utility vehicles, light commercial vehicles, medium and heavy commercial vehicles, farm tractors, and two and three wheelers, typically from motor cycles to marine engines.[4] Volkswagen, Deutz. It recently inaugurated its dedicated Lean Manufacturing Practices (LPS) line for Mahindra and Mahindra's Farm Equipment Sector in its Chennai plant.[5] It also has a dedicated line for manufacturing valves for kappa engines of Hyundai motor.[6]

The company has an Export market.[7] About 30% of its turnover comes from export and the export markets include Europe, North America, and the Far East. The company was all ready to set up an Export-oriented unit (EOU) near Visakhapatnam,[8] but the plan was dropped later.[9]

History[]

Rane group of companies was founded by Shri T. R. Ganapathy Iyer in the year 1929 and the group was originally named as Rane Madras (Ltd).[10] It started off as a distributor of automobiles and parts. After his death, the business was taken over by his son-in-law Lakshmana Iyer Lakshminarayan, popularly known as LLN, among friends and business circles. Under the leadership of LLN, the company was shaped into an auto-component business house. LLN remained as the founder chairman of the group for over three decades.[11]

Early History

The company was incorporated in 1954 in Chennai. The main objective of the company is to manufacture of valves for internal combustion engines and ATE valves for Mercedes Benz. It started with a technical collaboration with Farnborough Engineering Company Ltd. that lasted for over a decade till 1973. The valves are to be marketed under the trade name "EVL". In 1959, it established the first IC engines valve plant in chennai. In the year 1973, the company entered into a technical collaboration agreement with Kar Valves Ltd. (formerly Cochin State Power & Light Corpn. Ltd.), for the export of technical know-how and assistance for the manufacture of valves for internal combustion engines.[12]

Recent

Rane Engine Valve Limited was formed after Engine Valves Limited (EVL) was merged with its 100% subsidiary Engine Components Ltd (ECL) in the year 1999. The reverse merger, effective from FY99 is expected to benefit the new entity, reducing its tax liability, because of the carry forward losses of ECL.[13] Rane Engine Valve Limited now has a more diversified product portfolio, absorbing the products of the 2 merging companies. It manufactured guides for internal combustion engines, engine camshafts and tappets, all catering to the automobile industry.[14] The Company is the largest manufacturer of engine valves in India with an 85% market share. The Company was taken over by RANE HOLDINGS LIMITED and it was delisted from Bombay Stock Exchange on 15 February 2008.[15]

Today, the company has five plants. The plants in Alandur (Chennai), Medchal (Hyderabad), Aziz Nagar (Hyderabad) and Trichy are involved in the manufacture of Engine Valves and the plant in Ponneri (Chennai)is involved in the manufacture of Guides and Tappets.

Awards and recognition[]

  • The company was awarded ISO 14001 certification from RWTUV, Germany, for its environment management policy and systems in all its five manufacturing locations in the year 2002.[16]
  • The company received the QS 9000 certification from RWTUV, Germany in 2000.[17]
  • It also has ISO/TS 16949-2002 and ISO/TS 16949:2009 awarded during the years 2004 and 2010 respectively.
  • Wins the Volkswagen Group Best Supplier Award for 2008.[18]
  • Awarded the Best in Class Performance in Quality PPM award by Ashok Leyland during the year 2010–11
  • Awarded Pancharatna Award for Best Supply Chain Management by Mahindra and Mahindra (2010–11)
  • The company received the `Best Supplier Award' from Deutz AG of Germany.[19]

References[]

  1. ^ "The first engine valve available in the Indian market was launched by Rane". Automotive Products Finder. January 2011. Archived from the original on 11 July 2013.
  2. ^ "Rane Engine valve's new production centre". Business standard. 25 January 2008.
  3. ^ "Meeting the challenges ahead". MotorIndia. 25 August 2012.
  4. ^ "Rane Group To Supply Valve Guides To Yamaha, Taiwan". The Financial express. 11 June 2004.
  5. ^ "New LPS line for M&M Farm Equipment Sector". Machinist. 21 April 2010.
  6. ^ "New line for Hyundai's Kappa Engine". The Indian Express. 21 September 2012.
  7. ^ "Export potential of Indian auto component industry". Frost and sullivan. 11 November 2003.
  8. ^ "Rane Engine valve EOU". The Hindu Business Line. 27 April 2005.
  9. ^ "Rane Engine valve drops vizag EOU". Domain-b.com. 18 November 2005.
  10. ^ "The real dharma of Industry". The Hindu. 26 December 2011.
  11. ^ "Chairman Emeritus of Rane group-L.L. Narayan". Access my Library. 15 January 2001.
  12. ^ "Company history-Rane Engine Valve Ltd". The Economic Times.
  13. ^ "Rane Group consolidation exercise of merger, demerger and amalgamation". The Hindu. 21 August 2007. Archived from the original on 2 December 2007.
  14. ^ "Capex spend of Rane Engine Valve Ltd increases". The Economic Times. 17 June 2011.
  15. ^ "Company Profile-Rane Engine Valve Ltd". Worldwide Company Profile.
  16. ^ "Rane Engine valve Limited gets ISO 14001 for all its manufacturing locations". Access my library. 21 March 2002.
  17. ^ "Rane Engine valve limited gets QS 9000 from RWTUV, Germany". Access my library. 6 September 2000.
  18. ^ "Rane Engine Valve Limited gets Volkswagen Group Best Supplier Award". Money Control. 9 June 2008.
  19. ^ "Rane Engine Valve Limited gets Deutz Best Supplier Award". Money Control. 13 June 2003.
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