NSE: ROLEXRINGS · BSE: 543325
ROLEX RINGS LIMITED
Makes forged and machined bearing rings and auto components for domestic and overseas vehicle and industrial customers, split across a forging operation and a machining operation. In FY26, gross revenue was allocated across four lines: Domestic bearing INR 386 cr, Domestic auto INR 170 cr, Export bearing INR 154 cr, and Export auto INR 350 cr, against consolidated revenue from operations of INR 1,144 cr. US exports declined roughly 30% year-on-year under tariff disruption, while Europe revenue grew around 25% and domestic revenue rose about 50%, leaving total revenue broadly flat YoY. Raw materials, mainly steel, are the largest cost at 47.4% of revenue, followed by other operating expenses at 25.1% and employee costs at 6.3%. FY26 gross margin stood at 51.5% (versus 49.4% in FY25) and operating EBITDA margin held above 20%. The Right of Recompense obligation of INR 101 cr was fully settled on March 31, 2026, leaving the company debt-free with cash of INR 367 cr and FY27 capex guided at roughly INR 50 cr. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Domestic bearing rings, Domestic auto components, Export bearing rings, Export auto components. Forging-and-machining auto component manufacturer with global vehicle and industrial exposure
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,017 | 1,179 | 1,222 | 1,155 | 1,143 |
| EBITDA (ex other income) | 229 | 261 | 230 | 222 | 179 |
| margin % | 22.5 | 22.1 | 18.8 | 19.2 | 15.6 |
| Owners' profit | 132 | 198 | 156 | 174 | 141 |
| EPS, as reported (₹) | 50.23 | 72.74 | 57.30 | 63.89 | 5.18 |
| ROE % · ROCE % | 24.2 · 33.2 | 26.7 · 31.3 | 17.4 · 22.1 | 16.2 · 18.9 | 11.6 · 15.1 |
| Debt / equity (x) | 0.41 | 0.11 | 0.02 | 0.01 | 0.00 |
| Cash from operations | 59 | 213 | 221 | 227 | 190 |
| Capex | (70) | (42) | (55) | (52) | (36) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 300 | 260 | 284 | 292 | 271 | 275 | 306 | 304 |
| Profit before tax | 65 | 27 | 49 | 68 | 59 | 63 | 0 | 79 |
| Net profit | 49 | 20 | 55 | 49 | 44 | 48 | (0) | 60 |
| EPS (₹) | 18.09 | 7.41 | 20.06 | 18.05 | 1.73 | 1.75 | (0.01) | 2.21 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,66,707 | 38.1 | 3.82 | 14.8 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,34,520 | 56.9 | 9.06 | 33.0 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 84,295 | 119.4 | 8.82 | 30.4 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 62,653 | 52.0 | 8.63 | 28.8 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 57,518 | 45.9 | 9.36 | — | 10.4 | 14.1 | — | 19.4 |
| SONA BLW PRECISION FRGS L | 52,988 | 76.1 | 8.64 | 46.0 | 10.3 | 12.9 | — | 25.1 |
| TUBE INVEST OF INDIA LTD | 40,753 | 67.2 | 2.87 | 15.8 | 7.9 | 12.4 | 30.3 | 10.6 |
| ENDURANCE TECHNO. LTD. | 32,042 | 33.0 | 4.68 | 15.7 | 13.9 | 15.6 | 17.4 | 13.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 28.7 | 25.0 | 63 of 119 | 47% |
| P/B | 3.6 | 3.3 | 66 of 117 | 44% |
| ROCE | 15.0 | 12.6 | 48 of 125 | 62% |
| ROE | 11.6 | 11.7 | 60 of 117 | 49% |
| Debt / Equity | 0.0 | 0.3 | 1 of 117 | 85% |
| EBITDA margin | 29.1 | 12.2 | 5 of 118 | 97% |
| Revenue growth | 4.4 | 20.2 | 98 of 113 | 13% |
| Profit growth | 22.4 | 24.4 | 59 of 115 | 49% |
| Market cap | 4435 | 1455 | 41 of 126 | 68% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board to approve September 2026 quarter and half-year results | results | low | — | — |
| 13 Oct 2026 · Rolex Rings files quarterly demat compliance certificate under SEBI regulation | compliance | minimal | — | — |
| 8 Oct 2026 · ICICI Pru MF cuts stake in Rolex Rings to 5.23% | ownership changes | high | — | — |
| 7 Oct 2026 · Company Secretary and Compliance Officer Resigns | management changes | high | — | — |
| 30 Sept 2026 · Rolex Rings closes trading window ahead of Q2 and H1 FY26 results | compliance | minimal | — | — |
| 26 Sept 2026 · Rolex Rings 24th AGM results: All 3 resolutions passed overwhelmingly | board shareholder meetings | low | — | — |
| 24 Sept 2026 · Rolex Rings 24th AGM held; management notes US tariff impact, April 2026 buyback | board shareholder meetings | low | — | — |
| 24 Sept 2026 · Rolex Rings to meet investors in Rajkot on 29 September 2026 | board shareholder meetings | low | — | — |
| 12 Sept 2026 · Rolex Rings officials to meet investors and analysts in Singapore on Sep 17-18 | board shareholder meetings | low | — | — |
| 11 Sept 2026 · Rolex Rings to attend investor conference in Singapore on Sept 18 | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.