Rolex Rings Limited (ROLEXRINGS)
₹173.14 +3.14% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Rolex Rings' revenue was ₹304 Cr (+4.4% year on year, -0.4% on the previous quarter), and net profit ₹60.1 Cr (+22.3% year on year); the operating margin was 22.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹304 | +4.4% | -0.4% |
| Operating profit | ₹68.7 | +11.6% | +22.2% |
| Net profit | ₹60.1 | +22.3% | from loss |
| EPS (₹) | 2.21 | +22.1% | from loss |
| Operating margin | 22.6% | — | — |
ROLEXRINGS delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 42.63% of the ROLEXRINGS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 43.65%. That is close to its usual level.
Delivery in the last 5 sessions: 56.9% · 43.4% · 45.1% · 45.2% · 42.6%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Rolex Rings Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The Registrar and Share Transfer Agent, MUFG Intime India Private Limited, confirmed that no demat or remat requests were received during the period. This is an ordinary regulatory compliance filing with no impact on operations or financials.
- Compliance certificate issued under Regulation 74(5) for the quarter ended 30th September 2026
- RTA MUFG Intime India confirmed zero demat/remat requests received during the quarter
- Certificate dated 12th October 2026 filed with exchanges on 13th October 2026
Rolex Rings Limited has announced the resignation of Hardik Dhimantbhai Gandhi from his role as Company Secretary and Compliance Officer (Key Managerial Personnel). The resignation was submitted on September 26, 2026, accepted by management on October 02, 2026, and is effective from the close of business hours on October 07, 2026. The cited reason is to pursue better career opportunities, with no other material reasons reported. This is a routine administrative departure that does not impact ongoing manufacturing or operational performance.
- Hardik Dhimantbhai Gandhi resigns as Company Secretary & Compliance Officer effective October 07, 2026
- Resignation letter received on September 26, 2026, and accepted by management on October 02, 2026
- Departure confirmed solely to pursue other career opportunities with no other material reasons
Rolex Rings Limited has submitted voting results and the Scrutinizer's Report for its 24th Annual General Meeting held on September 24, 2026. All three ordinary resolutions were passed by shareholders with over 99.8% approval. The approved items include adoption of FY26 financial statements, the reappointment of retiring director Mr. Bhautik Dayashankar Madeka, and the ratification of Cost Auditor remuneration for FY27. Turnout represented 61.8% of total outstanding shares for the general resolutions.
- Adoption of FY26 audited financial statements passed with 99.9998% votes in favour (16,21,33,015 votes)
- Re-appointment of director Mr. Bhautik Dayashankar Madeka approved with 99.8998% votes in favour, with 4,91,19,060 promoter votes abstaining
- Ratification of Cost Auditor remuneration for FY27 approved with 99.9975% votes in favour
- Overall voter participation stood at 61.80% of total voting capital (16,21,33,291 votes polled out of 26,23,33,120 shares)
Rolex Rings Limited held its 24th Annual General Meeting on September 24, 2026, with 88,938 shareholders as of the September 18, 2026 cut-off date. Management noted export headwinds stemming from US import tariffs, which were offset by strong performance in the domestic market. CFO Hiren Doshi recalled the buyback completed in April 2026 and highlighted sustainability plans to add renewable energy facilities by 2030. Ordinary resolutions including adoption of FY26 financial statements and director re-appointment were placed for e-voting.
- Held 24th AGM on September 24, 2026, concluding at 12:28 pm
- Shareholder count stood at 88,938 as of the cut-off date of September 18, 2026
- Addressed export headwinds from US import tariffs, offset by domestic demand
- Noted target to add renewable energy facilities by end of 2030
Rolex Rings Limited has announced an institutional investor and analyst meeting scheduled for September 17 and 18, 2026, starting at 9:00 AM. The group and one-on-one meetings will be organized by Equirus Securities and held in Singapore. The company stated that discussions will be strictly restricted to publicly available information, indicating no new material disclosures are expected.
- Investor meetings scheduled for 17th & 18th September, 2026
- Meetings start from 09:00 am onwards
- Venue organized in Singapore by Equirus Securities
- Format includes both Group and One-on-One meetings
Rolex Rings Limited has announced that company officials will participate in an investor conference organized by Equirus Securities. The event is scheduled for September 17, 2026, starting at 9:00 AM local time in Hong Kong. The meetings will encompass both group and one-on-one sessions. The company stated that discussions will be limited to publicly available information.
- Conference scheduled for Thursday, September 17, 2026
- Meeting start time from 9:00 AM local time onwards
- Organized by Equirus Securities and located in Hong Kong
- Format includes both Group Meetings and One-on-One Meetings
Rolex Rings Limited has informed the exchanges that company officials will attend an investor conference on September 17, 2026, starting at 9:00 AM local time in Hong Kong. The event is organized by Equirus Securities and will involve group and one-on-one meetings. The company noted that discussions will strictly adhere to publicly available information without any unpublished price-sensitive information.
- Conference scheduled for Thursday, September 17, 2026, starting at 9:00 AM local time
- Organized by Equirus Securities in Hong Kong
- Format includes both group meetings and one-on-one interactions
- Discussions will rely exclusively on publicly available information
Rolex Rings Limited has notified exchanges of an upcoming analyst and institutional investor group meeting scheduled for September 11, 2026. The meeting will be held in Rajkot, Gujarat, starting from 10:00 AM onwards. The company stated that discussions will strictly adhere to publicly available information without sharing unpublished price sensitive details.
- Group meeting scheduled for Friday, September 11, 2026, starting at 10:00 AM onwards
- Meeting venue is in Rajkot, Gujarat
- Discussions to be restricted to publicly available information only
Rolex Rings Limited has issued a formal communication pursuant to Regulation 30 and Regulation 36(1)(b) to shareholders whose email addresses are not registered with the RTA or Depositories. The communication provides web links and QR codes to access the Annual Report and Notice for FY 2025-26. The company's 24th Annual General Meeting is scheduled to be held on September 24, 2026, at 12:00 PM IST via Video Conferencing.
- 24th Annual General Meeting scheduled for Thursday, September 24, 2026 at 12:00 p.m. IST
- AGM to be conducted via Video Conferencing or other Audio Visual Means
- Notice issued under Regulation 30 and 36(1)(b) for shareholders with unregistered email IDs
- Annual Report and Notice for FY 2025-26 made available via online web links and QR codes
Rolex Rings Limited has issued the notice convening its 24th Annual General Meeting (AGM) scheduled for September 24, 2026, at 12:00 PM IST via Video Conferencing. The cut-off date to determine shareholder eligibility for voting is Friday, September 18, 2026, with the remote e-voting window open from September 21 to September 23, 2026. The company also published its FY26 Annual Report, highlighting an operational capacity of over 75 million machined pieces per year and 625 CNC/VMC spindles across its manufacturing lines.
- 24th AGM scheduled for September 24, 2026, via Video Conferencing/OAVM
- Cut-off date for remote e-voting eligibility fixed as September 18, 2026
- Remote e-voting window active from September 21, 2026 (9:00 AM) to September 23, 2026 (5:00 PM)
- Annual report outlines an installed machining capacity exceeding 75 million pcs/year and 625 CNC/VMC spindles
Rolex Rings Limited has announced a scheduled group meeting with institutional investors and analysts on Thursday, August 27, 2026, starting at 10:00 AM IST. The meeting will take place physically in Rajkot, Gujarat. As per the regulatory disclosure under SEBI LODR Regulation 30(6), discussions will strictly be based on publicly available information.
- Group meeting scheduled for Thursday, August 27, 2026, from 10:00 AM onwards
- Meeting location set as a physical interaction in Rajkot, Gujarat
- Discussions will be confined to publicly available company information
Rolex Rings reported a 4.3% YoY revenue growth to ₹304 cr for Q1 FY27, despite labor shortages impacting production in early Q1. Profitability improved significantly with PAT rising 22% to ₹60 cr and EBITDA margins expanding by 100 bps to 22.6%. The company successfully completed a ₹180 cr buyback and remains debt-free. Management highlighted a recovery in the US export market and record-high revenue in July 2026 following the normalization of labor availability.
- Revenue grew 4.3% YoY to ₹304 cr, despite labor shortages in April and May 2026
- PAT increased 22% YoY to ₹60 cr, with PAT margins expanding 290 bps to 19.8%
- July 2026 recorded the highest monthly revenue since the company's inception
- Completed a ₹180 cr buyback of 1 crore equity shares; promoters did not participate
- Auto component exports grew 30% YoY, now accounting for 72% of that segment's revenue
Rolex Rings Limited has announced its participation in the Equirus Annual India Conference scheduled for August 13th and 14th, 2026, in Mumbai. The management will engage in physical meetings with institutional investors and analysts. As per the filing, discussions will be strictly based on publicly available information. This is a standard procedural disclosure under SEBI (LODR) Regulations.
- Investor meetings scheduled for August 13th and 14th, 2026
- Participation in the Equirus Annual India Conference in Mumbai
- Company reported a net worth of Rs 1,213 Cr in the latest financial context
- Revenue for the quarter ended March 2026 stood at Rs 305.69 Cr
Rolex Rings Limited has disclosed the audio recording link for its Q1 FY27 earnings call held on August 6, 2026. The call discussed the unaudited financial results for the quarter ended June 30, 2026. This follows a previous quarter (Mar 2026) where the company reported revenue of ₹305.69 cr and a marginal net loss of ₹0.149 cr. Investors can access the recording on the company's website to understand management's outlook on the US export market recovery.
- Earnings call conducted on August 6, 2026, regarding Q1 FY27 performance
- Recording pertains to the financial period ended June 30, 2026
- Company reported a net worth of ₹1,213 cr in the latest financial context
- Previous quarter (Mar 2026) revenue was ₹305.69 cr with an OPM of 18.4%
Rolex Rings reported a 4% YoY revenue growth to ₹304.3 Cr for Q1 FY27, despite labor shortages that constrained output until June. Profitability improved significantly with PAT rising 22% YoY to ₹60.2 Cr and EBITDA margins expanding 150 bps to 22.6%. The company concluded a ₹180 Cr buyback where promoters did not participate, and it is now entirely debt-free after settling all CDR obligations. Management has provided a mid-teen growth guidance for the remainder of FY27 as export demand shows signs of recovery.
- Net Profit (PAT) increased by 22% YoY to ₹60.2 Cr, with PAT margins expanding by 290 bps to 19.8%.
- Completed a ₹180 Cr buyback of 1 crore shares at ₹180/share, representing ~14.8% of net worth, with zero promoter participation.
- Company is now fully debt-free after settling ₹101 Cr in CDR recompense obligations in FY26.
- Export business now accounts for over 50% of component sales, with Auto Components growing 13% YoY to ₹163 Cr.
- Maintained a production capacity of 1,65,000 MTPA with a machining capacity of 75+ million pieces per year.
Financial Performance
Revenue Growth by Segment
Total revenue for Q2FY26 was INR 271.4 Cr, representing a 7% QoQ decline from INR 291.6 Cr in Q1FY26 and a 9.6% YoY decline from INR 300.3 Cr in Q2FY25. The decline was primarily driven by the US export segment where supplies were put on hold due to duty pressures.
Geographic Revenue Split
The US export market is a significant contributor but faced temporary headwinds in Q2FY26 due to duty issues. Domestic operations are centered in Rajkot, Gujarat, with the company being one of the top 5 forging companies in India.
Profitability Margins
The company maintained healthy margins despite revenue pressure; Operating PBT stood at INR 59.1 Cr (21.8% margin) in Q2FY26 compared to INR 68.0 Cr (23.3% margin) in Q1FY26. PAT for Q2FY26 was INR 44.3 Cr, down from INR 49.3 Cr in Q2FY25.
EBITDA Margin
EBITDA margin for Q2FY26 was 25.5% (INR 69.2 Cr), showing resilience compared to 25.1% (INR 75.5 Cr) in Q2FY25. The company focuses on high-margin products over volume to sustain these levels.
Capital Expenditure
While specific future CAPEX for Rolex Rings is not disclosed, the company monitors client CAPEX (e.g., INR 100 Cr units) to capture a 15-25% share of the component requirements for those new facilities.
Credit Rating & Borrowing
CARE Ratings reaffirmed 'CARE A-; Stable' for long-term facilities (INR 14.99 Cr) and 'CARE A2+' for short-term facilities (INR 135.00 Cr) as of August 2025. Total long-term bank facilities were reduced from INR 25.99 Cr.
Operational Drivers
Raw Materials
Steel (forging quality) and bearing steel are the primary raw materials, though specific percentage of total cost is not disclosed in the provided documents.
Import Sources
The company is based in Rajkot, Gujarat, sourcing primarily from India, while export dynamics are heavily influenced by US trade proclamations.
Capacity Expansion
Current capacity is not specified in MT, but the company is focused on better utilization of existing production capacity for high-precision components rather than booking lower-margin products.
Raw Material Costs
Not disclosed as a specific percentage of revenue, but the company manages costs through value-added processes and precision manufacturing to maintain a 25%+ EBITDA margin.
Manufacturing Efficiency
The company achieved a 'Zero PPM' award from a US global giant for two consecutive years, indicating high precision and low rejection rates in manufacturing.
Strategic Growth
Expected Growth Rate
11.60%
Growth Strategy
The company plans to regain the US export market starting December 2025 following a favorable October 2025 proclamation. Growth will be driven by capturing 15-25% of the component spend from Indian bearing manufacturers who are currently in expansion mode (CAPEX).
Products & Services
Forged and machined components, bearing rings, and automotive components for global and domestic bearing manufacturers.
Brand Portfolio
Rolex Rings.
New Products/Services
Focus on high-precision, value-added forged components for the expanded facilities of global bearing manufacturers.
Market Expansion
Targeting the regain of the US export market from Q4FY26 and expanding share in the domestic bearing manufacturer segment.
Market Share & Ranking
Ranked as one of the top 5 forging companies in India.
External Factors
Industry Trends
Global players are winding off or moving out of the forging and ring business, creating an opportunity for Rolex Rings to gain market share. Indian bearing manufacturers are currently in a CAPEX/expansion mode.
Competitive Landscape
Competes with other Indian and global forging players, but benefits from some competitors exiting the ring-forging business.
Competitive Moat
The moat is built on 3 decades of industry experience, 20+ year customer relationships, and high-precision manufacturing capabilities (Zero PPM awards), which are difficult for new entrants to replicate.
Macro Economic Sensitivity
Highly sensitive to global trade policies and US import duties, which directly caused the Q2FY26 revenue contraction.
Consumer Behavior
Shift towards high-precision and reliable supply chains in the auto-component and bearing industry favors established players like Rolex Rings.
Geopolitical Risks
Geopolitical reasons previously caused 'turbulences' in the export segment, though management expects these to be streamlined by Q4FY26.
Regulatory & Governance
Industry Regulations
Subject to US import duty proclamations and SEBI Regulation 31A regarding promoter reclassification.
Taxation Policy Impact
Current tax liabilities stood at INR 7.5 Cr as of the latest reporting period.
Legal Contingencies
The company faces a 'ROR liability' (Right of Recompense), the resolution of which is a key sensitivity factor for its credit rating.
Risk Analysis
Key Uncertainties
The primary uncertainty is the timeline for regaining the US export market, with a potential impact on revenue if the December 2025 recovery is delayed.
Geographic Concentration Risk
Significant revenue concentration in the US export market and the domestic Gujarat industrial hub.
Third Party Dependencies
High dependency on global bearing manufacturers for order flow, though mitigated by long-term contracts.
Technology Obsolescence Risk
Low risk due to the essential nature of forged rings in bearings, but requires continuous investment in precision machining.
Credit & Counterparty Risk
Receivables quality is supported by a 'reputed clientele' of global giants, mitigating counterparty risk.
