Rane Engine Valve Limited Explained

Rane Engine Valve Limited
Type:Public company
Traded As:,
Founded:1959
Founder:Lakshmana Iyer Lakshminarayan
Location City:Chennai
Location Country:India
Key People:L. Ganesh (Chairman)
K Murali Rajagopalan(President)
Industry:Automotive
Products:Engine valves, valve guides and tappets
Operating Income: (FY2012-13)
Assets: (2012)
Parent:Rane Holding 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 HistoryThe 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]
RecentRane 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

Notes and References

  1. Web site: The first engine valve available in the Indian market was launched by Rane . January 2011 . Automotive Products Finder . dead . https://archive.today/20130711022625/http://www.automotiveproductsfinder.com/APFCONTENT/articles/the-first-engine-valve-available-in-the-indian-market-was-launched-by-rane.php . 11 July 2013 .
  2. Web site: Rane Engine valve's new production centre. 25 January 2008. Business standard.
  3. Web site: Meeting the challenges ahead. 25 August 2012. MotorIndia.
  4. Web site: Rane Group To Supply Valve Guides To Yamaha, Taiwan . 11 June 2004. The Financial express.
  5. Web site: New LPS line for M&M Farm Equipment Sector. 21 April 2010. Machinist.
  6. Web site: New line for Hyundai's Kappa Engine. 21 September 2012. The Indian Express.
  7. Web site: Export potential of Indian auto component industry. 11 November 2003. Frost and sullivan.
  8. Web site: Rane Engine valve EOU. 27 April 2005. The Hindu Business Line.
  9. Web site: Rane Engine valve drops vizag EOU. 18 November 2005. Domain-b.com.
  10. Web site: The real dharma of Industry. 26 December 2011. The Hindu.
  11. Web site: Chairman Emeritus of Rane group-L.L. Narayan. 15 January 2001. Access my Library.
  12. Web site: Company history-Rane Engine Valve Ltd. The Economic Times.
  13. Web site: Rane Group consolidation exercise of merger, demerger and amalgamation.. https://web.archive.org/web/20071202023715/http://www.hindu.com/2007/08/21/stories/2007082161311600.htm. dead. 2 December 2007. 21 August 2007. The Hindu.
  14. Web site: Capex spend of Rane Engine Valve Ltd increases. 17 June 2011. The Economic Times.
  15. Web site: Company Profile-Rane Engine Valve Ltd. Worldwide Company Profile.
  16. Web site: Rane Engine valve Limited gets ISO 14001 for all its manufacturing locations.. 21 March 2002. Access my library.
  17. Web site: Rane Engine valve limited gets QS 9000 from RWTUV, Germany. 6 September 2000. Access my library.
  18. Web site: Rane Engine Valve Limited gets Volkswagen Group Best Supplier Award. 9 June 2008. Money Control.
  19. Web site: Rane Engine Valve Limited gets Deutz Best Supplier Award. 13 June 2003. Money Control.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Rane Engine Valve Limited".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.