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Key Financials Snapshot

TTM · Standalone · ₹ in Cr
Market Cap
₹3800 Cr.
Stock P/E
21.8
P/B
3.1
Current Price
₹139.5
Book Value
₹ 44.6
Face Value
1
52W High
₹176
52W Low
₹ 99.3
Dividend Yield
0%

Rolex Rings Overview

Business

Rolex Rings Ltd. is an India-based manufacturer and supplier of forged and machined bearing rings and other automotive components. Its core business involves producing hot-forged and cold-rolled bearing rings, as well as a wide range of automotive components like gear blanks, shafts, and other custom forgings for various applications. The company operates as an OEM (Original Equipment Manufacturer) supplier, primarily serving the automotive, industrial, and railway sectors. It makes money by manufacturing these precision-engineered components and selling them to domestic and international customers.

Revenue Mix

Rolex Rings Ltd. primarily operates in two main product categories:

Hot Forged & Cold Rolled Bearing Rings: This is a significant portion of its business, supplying bearing manufacturers globally.

Automotive Components: This segment includes various forged and machined components such as gear blanks, shafts, and other specialized parts used in transmissions, engines, and drivelines.

While specific revenue contribution percentages for these internal categories are not always separately disclosed in standard reports, the company serves a diverse customer base across automotive (2-wheelers, passenger vehicles, commercial vehicles), industrial (electrical, textile, off-highway), and railway sectors, with a notable mix of domestic and export sales.

Industry

The bearings industry in India and globally is characterized by a mix of large, established players and specialized component manufacturers. Rolex Rings operates in the upstream segment, supplying critical forged and machined components to bearing manufacturers and automotive OEMs, rather than manufacturing complete bearings itself. It positions itself as a precision engineering company with capabilities in hot forging, cold rolling, and machining. Its customer base includes major global bearing manufacturers and Tier-1 automotive suppliers, indicating a focus on quality and reliability within its niche.

MOAT

Rolex Rings Ltd. possesses several competitive advantages:

Manufacturing Expertise & Technology: Long-standing experience and investment in advanced manufacturing processes (hot forging, cold rolling, machining) for high-precision components. This allows it to meet stringent quality requirements of global OEMs.

Customer Relationships: Established, long-term relationships with marquee domestic and international customers in the automotive and bearing industries, built on trust and consistent product quality.

Product Diversification: Ability to produce a wide range of components beyond just bearing rings, catering to diverse needs within the automotive and industrial sectors, reducing reliance on a single product type.

Global Footprint: Significant export presence provides geographical diversification and access to larger markets, mitigating risks from any single domestic market downturn.

Growth Drivers

Automotive Sector Growth: Increasing vehicle production (passenger vehicles, commercial vehicles, 2-wheelers) in India and globally will drive demand for its components.

Industrial Capital Expenditure: Growth in general industrial activity, infrastructure development, and manufacturing capacity expansion in end-user industries (e.g., electrical, textile) will fuel demand for industrial bearing components.

Export Opportunities: Continued efforts to expand its global customer base and increase market share in international markets.

New Product Development: Investment in R&D to develop new components or improve existing ones, catering to evolving industry needs and higher value-added segments.

Shift to Electric Vehicles (EVs): While EVs use different types of bearings and components, the company's capabilities in precision components may allow it to adapt and supply specific parts for EV powertrains or other subsystems.

Risks

Raw Material Price Volatility: Fluctuations in steel prices, which is a primary raw material, can impact profitability if not effectively passed on to customers.

Economic Slowdown: A downturn in the global or domestic economy can significantly impact demand from the automotive and industrial sectors.

Customer Concentration: While diversified, a substantial portion of revenue may come from a few large OEM customers, making the company susceptible to their performance or purchasing decisions.

Technological Shifts: Changes in automotive technology (e.g., material advancements, EV powertrains) could alter demand for traditional components if the company does not adapt.

Forex Fluctuations: As a significant exporter, adverse movements in foreign currency exchange rates can impact export realizations and profitability.

Competition: Intense competition from other domestic and international forging and machining companies.

Management & Ownership

Rolex Rings Ltd. is promoted by the Kaypee family, with key management personnel holding significant experience in the precision engineering and manufacturing sectors. The promoters maintain a substantial ownership stake, aligning their interests with the company's long-term growth. The company has a professional management team overseeing day-to-day operations and strategic execution.

Outlook

Rolex Rings Ltd. appears well-positioned within its niche, leveraging its manufacturing capabilities and established customer relationships. The company's future prospects are tied to the cyclical nature of the automotive and industrial sectors, both domestically and internationally. Growth drivers like increasing vehicle production and industrial expansion offer significant opportunities. However, it must navigate risks such as raw material price volatility, economic slowdowns, and the need to adapt to evolving automotive technologies. Its ability to maintain competitive pricing, continuously innovate, and expand its global footprint will be crucial for sustained growth amidst these challenges.

Rolex Rings Share Price

Live · BSE / NSE · Inception: 2003
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Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Standalone · annual

Rolex Rings Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 273 316 311 300 260 284 292 271 275 306
Other Income 5 4 5 9 4 10 16 14 17 3
Total Income 278 321 316 310 264 294 307 286 292 309
Total Expenditure 221 244 240 234 209 232 230 217 217 249
Operating Profit 57 76 76 75 55 62 77 69 75 59
Interest 0 1 0 1 0 1 0 1 0 0
Depreciation 7 12 9 10 10 12 9 9 9 9
Exceptional Income / Expenses 0 -32 0 0 -19 0 0 0 -2 -49
Profit Before Tax 50 31 67 65 27 49 68 59 63 0
Provision for Tax 13 8 17 16 6 -5 19 15 15 0
Profit After Tax 37 24 50 49 20 55 49 44 48 -0
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 37 24 50 49 20 55 49 44 48 -0
Adjusted Earnings Per Share 1.4 0.9 1.8 1.8 0.7 2 1.8 1.6 1.8 -0

Rolex Rings Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 555 598 695 770 904 666 616 1010 1179 1222 1155 1144
Other Income 6 2 9 7 7 9 3 11 19 15 28 50
Total Income 562 600 703 777 911 675 620 1022 1198 1237 1183 1194
Total Expenditure 463 489 541 609 703 545 507 781 918 960 914 913
Operating Profit 98 111 162 168 208 131 112 240 280 277 269 280
Interest 65 58 55 50 41 32 12 20 10 3 2 1
Depreciation 21 22 23 23 25 27 25 26 27 33 40 36
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -32 -19 -51
Profit Before Tax 13 32 84 95 141 72 75 194 243 210 208 190
Provision for Tax 0 7 7 21 80 19 -12 62 45 54 34 49
Profit After Tax 13 25 77 74 62 53 87 132 198 156 174 141
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 13 25 77 74 62 53 87 132 198 156 174 141
Adjusted Earnings Per Share 0.5 1 3.2 3.1 2.6 2.2 3.6 4.8 7.3 5.7 6.4 5.2

Rolex Rings Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds -11 14 90 164 226 268 357 545 743 898 1072
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 312 295 229 167 83 44 32 20 0 0 0
Other Non-Current Liabilities 2 2 1 2 68 78 54 82 66 61 42
Total Current Liabilities 363 431 443 470 405 296 348 338 205 161 168
Total Liabilities 665 741 764 804 782 686 791 985 1013 1121 1282
Fixed Assets 299 335 346 336 382 374 372 380 391 466 444
Other Non-Current Assets 45 19 43 61 32 19 45 68 78 30 58
Total Current Assets 321 388 376 406 368 293 373 538 545 625 780
Total Assets 665 741 764 804 782 686 791 985 1013 1121 1282

Rolex Rings Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 53 6 1 18 1 0 1 5 4 22 19
Cash Flow from Operating Activities 89 85 157 136 194 184 59 59 213 221 227
Cash Flow from Investing Activities 3 -54 -14 -32 -36 -14 -36 -68 -44 -158 -191
Cash Flow from Financing Activities -112 -37 -126 -121 -158 -169 -20 8 -151 -66 -6
Net Cash Inflow / Outflow -20 -6 17 -17 -1 1 3 -1 18 -3 30
Closing Cash & Cash Equivalent 33 1 18 1 0 1 5 4 22 19 49

Rolex Rings Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0.55 1.03 3.19 3.07 2.57 2.21 3.63 4.84 7.27 5.73 6.39
CEPS(Rs) 1.4 1.94 4.16 4.04 3.63 3.31 4.69 5.78 8.26 6.93 7.87
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) -1.02 0.01 3.2 6.27 8.84 11.18 14.88 20.01 27.28 32.98 39.37
Core EBITDA Margin(%) 15.41 16.87 20.47 20.54 22.23 18.23 17.66 22.66 22.04 21.44 20.84
EBIT Margin(%) 13.02 13.77 18.54 18.48 20.18 15.65 14.1 21.26 21.39 17.39 18.19
Pre Tax Margin(%) 2.19 4.87 11.22 12.09 15.62 10.82 12.2 19.24 20.56 17.16 17.98
PAT Margin (%) 2.19 3.8 10.23 9.38 6.82 7.95 14.11 13.05 16.74 12.77 15.07
Cash Profit Margin (%) 5.63 7.19 13.32 12.36 9.63 11.93 18.23 15.58 19.02 15.44 18.57
ROA(%) 1.95 3.5 10.16 9.39 7.78 7.21 11.77 14.85 19.83 14.62 14.48
ROE(%) 0 0 199.1 64.85 34.04 22.06 27.83 29.26 30.76 19.02 17.66
ROCE(%) 13.32 14.95 21.81 21.99 28.88 18.46 15.33 31.27 31.79 24.4 20.98
Receivable days 75.06 83.52 84.83 87.59 77.24 84.72 88.38 72.5 70.81 66.63 64.84
Inventory Days 74.67 71.31 64.45 68.22 64.79 79.68 89.32 78.18 79.79 74.1 76.56
Payable days 101.51 117.46 111.08 92.26 79.7 91.52 118 91.09 70.17 61.69 59.68
PER(x) 0 0 0 0 0 0 0 25.88 27.51 30.47 19.97
Price/Book(x) 0 0 0 0 0 0 0 6.27 7.33 5.29 3.24
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 1.07 1 0.84 0.67 0.45 0.4 0.43 3.58 4.66 3.88 2.96
EV/Core EBITDA(x) 6.03 5.37 3.6 3.09 1.97 2.04 2.34 15.05 19.63 17.12 12.71
Net Sales Growth(%) 7.25 7.72 16.07 10.89 17.42 -26.35 -7.46 63.91 16.7 3.63 -5.48
EBIT Growth(%) 21.08 14.61 55.37 4.48 25.95 -42.88 -16.66 147.21 17.84 -16.08 -1.1
PAT Growth(%) 642.76 88.05 210.92 -3.81 -16.23 -14.13 64.25 51.66 50.21 -21.23 11.51
EPS Growth(%) 642.76 88.05 210.92 -3.81 -16.23 -14.13 64.25 33.55 50.21 -21.23 11.51
Debt/Equity(x) -54.44 43.67 6.27 3.04 1.67 0.97 0.7 0.41 0.11 0.02 0.01
Current Ratio(x) 0.89 0.9 0.85 0.86 0.91 0.99 1.07 1.59 2.66 3.87 4.64
Quick Ratio(x) 0.55 0.59 0.55 0.52 0.51 0.55 0.58 0.82 1.41 2.38 3.19
Interest Cover(x) 1.2 1.55 2.53 2.89 4.43 3.24 7.43 10.51 25.74 78.67 88.3
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0.07 0.02 0 0

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -5% +5% +12% +8%
Operating Profit CAGR -3% +4% +15% +11%
PAT CAGR +12% +10% +27% +30%
Share Price CAGR -12% -11%
ROE Average +18% +22% +25% +40%
ROCE Average +21% +26% +25% +22%

Rolex Rings Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 52.24 %
FII 6.01 %
DII (MF + Insurance) 30.26 %
Public (retail) 47.76 %
# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 55.2555.2555.2553.3553.3553.3553.3553.3553.3752.24
FII 6.287.746.987.978.097.277.156.965.966.01
DII 31.6829.9130.4231.8631.6232.0531.9630.9430.1630.26
Public 44.7544.7544.7546.6546.6546.6546.6546.6546.6347.76
Others 0000000000
Total 100100100100100100100100100100

Rolex Rings Peer Comparison

Rolex Rings Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Rolex Rings Pros & Cons

Pros

  • Company has delivered good profit growth of 26% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 22%
  • Debtor days have improved from 61.69 to 59.68days.
  • Company is almost debt free.

Cons

  • Stock is trading at 3.1 times its book value.
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