Rane Madras Share Price Target 2027: Can It Reach Rs 1,844? Base Case at Rs 1,540

Investors weighing a Rane Madras target price for 2027 should start with where the stock sits today. At Rs 1,303.80 on 5 November 2026, it is 9.5% below its 52-week high of Rs 1,440.00 and 114.3% above its 52-week low of Rs 608.50. That range spans 137% from low to high, so the entry point matters as much as the Rane Madras price forecast itself.

This article builds the Rane Madras share price target from reported numbers only: five years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario states its assumptions, so you can trace how the base case, the bull case and the downside risk level were reached and test them against your own view.

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Rane Madras Stock Analysis: Company Overview and Key Stats

Rane Madras (NSE: RML) has a market capitalisation of Rs 3,549 crore. In FY26 it reported revenue of Rs 3,879 crore and net profit of Rs 107.48 crore. The table collects the figures the Rane Madras share price target is built on.

Metric	Value
Company	Rane Madras
NSE Ticker	RML
CMP (5 November 2026)	Rs 1,303.80
52-Week High	Rs 1,440.00
52-Week Low	Rs 608.50
Market Cap	Rs 3,549 crore
PE Ratio (TTM)	8.36
Industry PE	36.73
Price to Book	3.34
Return on Equity	13.11%
Debt to Equity	1.16
EPS (TTM)	Rs 153.51
Dividend Yield	1.25%
12-Month Base Target	Rs 1,540
Bull Case	Rs 1,844
Downside Risk Level (not a target)	Rs 1,027

Why Is Rane Madras Share Price Target Set at Rs 1,540 for 2027?

The arithmetic is short. Trailing EPS of Rs 153.51 grown for one year gives a forward EPS estimate of Rs 184.21, and multiplying it by the unchanged PE of 8.36 gives the Rs 1,540 base-case Rane Madras stock target. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.

Earnings Growth Behind the Rane Madras Target Price: Five Years of Results

Rane Madras grew revenue from Rs 1,748 crore in FY22 to Rs 3,879 crore in FY26, a compound annual growth rate of 22.1%. Net profit grew faster, from Rs 10.66 crore to Rs 107.48 crore (78.2% a year), which shows margin gains did part of the work and not just higher sales.

Financial Year	Revenue (Rs Cr)	Net Profit (Rs Cr)	EPS (Rs)	Dividend per Share (Rs)
FY22	1,747.64	10.66	6.97	0.00
FY23	2,372.30	30.02	18.46	0.00
FY24	3,473.04	54.76	19.81	0.00
FY25	3,421.42	37.65	13.62	8.00
FY26	3,878.60	107.48	38.89	16.00

FY26 revenue growth was 13.4%, slower than the four-year average of 22.1%, and net profit moved up 185.5%. EPS rose from Rs 19.81 in FY24 to Rs 38.89 in FY26. The FY27 outlook depends on whether that EPS estimate keeps compounding.

Margins and the Latest Quarter

Rane Madras converted 2.8% of FY26 revenue into net profit, against 1.1% in FY25, within a five-year range of 0.6% to 2.8%. EBITDA margin was 9.1% in FY26 versus 8.3% in FY25.

In the September 2026 quarter, revenue was Rs 1,242 crore, up 34.5% from the same quarter a year earlier, while net profit of Rs 326.68 crore was up 1421.6%. EBITDA came in at Rs 114.10 crore, up 37.7% year on year. The next quarterly result is the first test of whether the earnings assumption holds.

Balance Sheet and Cash Flow

Debt to equity stands at 1.16, and shareholders' equity grew from Rs 228.14 crore in FY22 to Rs 750.56 crore in FY26. Operating cash flow in FY26 was Rs 219.07 crore against capital expenditure of Rs 191.05 crore, leaving free cash flow of Rs 28.02 crore, or 0.8% of the current market capitalisation. In FY25 free cash flow was Rs 131.20 crore.

Valuation Check for the Rane Madras Stock Target: PE, Price to Book and ROE

At a PE of 8.36 against an industry PE of 36.73, Rane Madras trades at a discount to its industry. Price to book is 3.34 on a book value of Rs 384.97 per share, and return on equity is 13.11%. A PE of 8.36 equals an earnings yield of 12.0%, and the FY26 dividend of Rs 16.00 per share gives a yield of 1.25%.

Shareholding Pattern and Institutional Holding

Promoters held 70.46% of Rane Madras in September 2026, and promoter holding has stayed near 70.46% since September 2025. Foreign institutional investors (FII) held 0.34% and domestic institutions (DII) held 0.78%, which puts total institutional holding at 1.12%. FII holding rose from 0.04% in September 2025 to 0.34% in September 2026. Public shareholders own the remaining 28.42%. Institutional holding this low means the stock sees limited professional coverage, and price moves can be sharper when trading volumes are thin.

Rane Madras Share Price Targets for the Short Term and 12 Months

Short Term Rane Madras Stock Target Levels: Technical Setup

At Rs 1,303.80 on 5 November 2026, Rane Madras trades above its 50-day simple moving average of Rs 1,274.35 and above its 200-day exponential moving average of Rs 1,074.32. The 14-day RSI reads 52.8, which is neutral territory, and the MACD line sits above its signal line. The nearest resistance level is Rs 1,440.00 (52-week high) and the nearest support is Rs 1,274.35 (50-day simple moving average). A sustained move above Rs 1,440.00 would improve the short-term setup, while a close below Rs 1,274.35 would shift attention to the next support.

12 Month Rane Madras Target Price for 2027

The 12-month target of Rs 1,540 means a move of 18.1% up from Rs 1,303.80 over the next 12 months. It would also push the stock above its 52-week high of Rs 1,440.00. Anyone checking the Rane Madras share price target against their own view should focus on two inputs: the EPS estimate and the PE multiple.

How EPS Growth and PE Multiple Change the Rane Madras Target Price

EPS Growth	PE 6.69	PE 8.36	PE 9.61
0.0% (EPS Rs 153.51)	Rs 1,027	Rs 1,283	Rs 1,475
20.0% (EPS Rs 184.21)	Rs 1,232	Rs 1,540	Rs 1,770
25.0% (EPS Rs 191.89)	Rs 1,284	Rs 1,604	Rs 1,844

Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the Rane Madras price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.

Bull Case and Downside Risk for Rane Madras Stock Target in 2027

Bull Case Rs 1,844

The bull case Rane Madras price target needs EPS growth of 25.0%, which lifts forward EPS to Rs 191.89, and a PE multiple that rises 15% to 9.61. That gives Rs 1,844, 41.4% above the current price and above the 52-week high of Rs 1,440.00, so the stock would have to set a fresh 52-week high.

Downside Risk Level Rs 1,027

The downside risk level is not a target. It assumes EPS stays flat at Rs 153.51 and the PE falls 20% to 6.69. That gives Rs 1,027, 21.2% below the current price and above the 52-week low of Rs 608.50.

Scenario	EPS Growth	PE Multiple	Price (Rs)	Change vs CMP
Bull Case	25.0%	9.61	Rs 1,844	+41.4%
Base Case	20.0%	8.36	Rs 1,540	+18.1%
Downside Risk	0.0%	6.69	Rs 1,027	-21.2%

Key Risks to the Rane Madras Target Price for 2027

Growth Slowdown Risk for the Rane Madras Price Target

Revenue in the September 2026 quarter was up 34.5% year on year, and FY26 revenue growth was 13.4%. If growth slows from here, the EPS estimate behind the Rane Madras stock target will need revising.

Liquidity and Size Risk

Rane Madras has a market capitalisation of Rs 3,549 crore. Institutional holding is 1.12%, and promoters hold 70.46%. Stocks of this size can move sharply on small volumes, and exits can take longer than entries.

Valuation and Margin Risk

Net margin was 2.8% in FY26, so a small slip in costs moves profit noticeably. At a PE of 8.36 versus an industry PE of 36.73, a de-rating toward the downside-risk PE of 6.69 would cut the price even if earnings hold.

Market and Technical Risk

Technical indicators add short-term risk: the 14-day RSI is 52.8 and the MACD sits above its signal line. A broad fall in the Nifty 50 or the Sensex can override company fundamentals for weeks at a time.

How to Invest in Rane Madras

Start with the live price and volume. Any Rane Madras share price target is only as current as the data behind it, and the data here is as of 5 November 2026, so refresh the Rs 1,303.80 price before acting on any level.

Next, review the fundamentals yourself. The Univest Screener lets you check Rane Madras' PE, ROE, debt and shareholding in one place.

Check Rane Madras fundamentals on the Univest Screener

Then compare the three Rane Madras target price scenarios with your own view. If you expect EPS growth below 20.0%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.

Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.

Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.

Download the Univest iOS App or Univest Android App to track Rane Madras live price and get daily stock recommendations.

Conclusion

The Rane Madras share price target for 2027 is Rs 1,540 in the base case, with Rs 1,844 as the bull case. The support for that view is arithmetic you can check: EPS grew 40.1% a year over FY24 to FY26, and the stock trades at a PE of 8.36. The risks are equally concrete, including institutional holding of only 1.12% and a downside scenario that cuts the price 21% if earnings stall. Use these numbers as a framework, check them against the latest filings, and size any position to your own risk appetite.

FAQs on Rane Madras Share Price Target 2027

What is the Rane Madras share price target for 2027?

Ans. The base-case Rane Madras share price target for 2027 is Rs 1,540, which is 18.1% above the price of Rs 1,303.80 on 5 November 2026. The bull case is Rs 1,844 and the downside risk level, which is not a target, is Rs 1,027. All three come from one method: forward EPS multiplied by a PE multiple, using only reported results. They are model estimates and not guaranteed outcomes, and the next quarterly result is the first check on the EPS assumption.

What is the Rane Madras share price today?

Ans. As of 5 November 2026, 11:37 AM IST, Rane Madras (NSE: RML) trades at Rs 1,303.80, up 1.48% on the day. That is 9.5% below the 52-week high of Rs 1,440.00 and 114.3% above the 52-week low of Rs 608.50. The market capitalisation of Rs 3,549 crore places it among small-cap stocks. Prices change through the trading session, so check the live quote before acting on any level in this article.

Is Rane Madras a buy or sell at the current price?

Ans. The data points both ways. On the positive side, EPS has grown 40.1% a year over FY24 to FY26 and the base case implies 18.1% upside; on the cautious side, institutional holding is only 1.12%, and the downside risk level of Rs 1,027 is 21% below the current price. Whether Rane Madras fits your portfolio depends on your time horizon, position size and risk appetite. Consult a SEBI-registered advisor before investing, as this article is not investment advice.

What are the bull case target and downside risk level for Rane Madras shares?

Ans. The bull case in the Rane Madras share price target for 2027 is Rs 1,844, which assumes 25.0% EPS growth and a PE of 9.61, a 15% re-rating from today's multiple. That is 41.4% above the current price and above the 52-week high of Rs 1,440.00, so the stock would have to set a fresh 52-week high. The downside risk level is Rs 1,027, which assumes flat EPS and a PE of 6.69, 20% lower than today. It sits 21.2% below the current price and above the 52-week low of Rs 608.50, and it marks a risk to watch, not a target.

What are the main risks to the Rane Madras price target?

Ans. Four risks matter most for the Rane Madras share price target: slower revenue or profit growth, a PE de-rating, thin liquidity or size risk, and weakness in the broader market. With a market capitalisation of Rs 3,549 crore, the stock can move sharply on small volumes, and exits can take longer than entries. Institutional holding is only 1.12%, which can make price moves sharper. A fall to the downside-risk PE of 6.69 would cut the price even if earnings hold.

What is the PE ratio of Rane Madras and how does it compare with the industry?

Ans. The PE ratio of Rane Madras is 8.36, against an industry PE of 36.73, which is a discount to the industry. Price to book is 3.34 and return on equity is 13.11%, and the PE equals an earnings yield of 12.0%. The base case holds the PE unchanged, so the Rane Madras share price target moves only with earnings, while the bull and downside scenarios change the multiple by +15% and -20%.

Who owns Rane Madras, and what is the promoter holding?

Ans. Promoters held 70.46% of Rane Madras in September 2026. FII held 0.34%, DII held 0.78% and the public held 28.42%. Together the two institutional groups hold 1.12%. Shareholding is filed every quarter, so it is worth rechecking after each result.

What were Rane Madras' latest quarterly results?

Ans. In the September 2026 quarter, Rane Madras reported revenue of Rs 1,242 crore (up 34.5% year on year) and net profit of Rs 326.68 crore (up 1421.6%). For comparison, FY26 full-year revenue growth was 13.4% and net profit moved up 185.5%. Each new quarter either supports or weakens the EPS growth of 20.0% assumed in the base case.