Chennai-based Rane Brake Lining which is a key component supplier of brake linings, disc pads and clutch facings to major automakers in India, registered a 12.7 percent year-on-year (YoY) uptick in its Q3 FY2023 revenues which closed at Rs 154.6 crore (Q3 FY2022: Rs 137.2 crore).
According to L Ganesh, chairman, Rane Group, “RBL had a good quarter supported by favourable demand and improved operational performance. However, sustained higher material cost remains a challenge and the management is executing various operational improvement initiatives to mitigate the impact. Though the demand environment in India remains strong, we remain cautious given the evolving economic scenario across major global economies.”
The global automotive brake pad market was valued at $3.8 billion in 2021, and is projected to reach $6.5 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
Brake pads are the components of a vehicle’s braking system that provide the friction necessary to stop the vehicle. They are an integral part of disk brakes that are used in an automobile. When the brakes are engaged, these brake pads press against the running disc to stop the motion and decrease the speed of the vehicle. Brake pads are present in brake caliper, which pushes them against the rotors and help in converting kinetic energy of vehicle into thermal energy.
