ROLEXRINGS

Rolex Rings share price & financials

Price
₹143.23
Market cap
₹4.5k Cr
Sector
Automobile and Auto Components
Calls analysed
7
Latest concall · Q1 FY27 · call held 06 Aug 2026

Rolex Rings Q1 FY27

Revenue from Operations ₹304 cr +4%EBITDA ₹69 cr EBITDA Margin 22.6% PAT ₹60 cr +22%

What went well

  • Revenue from operations stood at ₹304 crores, marking a 4.3% year-on-year increase compared to Q1 FY26.
  • Auto components revenue grew significantly by 13.5% year-on-year to ₹163 crores, driven by strong export performance.
  • EBITDA reached ₹69 crores, with the EBITDA margin expanding by 100 basis points year-on-year to 22.6%.

What to watch

  • Production was constrained in Q1 FY27 due to a temporary labor shortage on the shop floor during April, May, and mid-June.
  • Revenue from bearing rings declined by 6% year-on-year to ₹118 crores, primarily due to softness in the industrial segment in domestic and European markets.
Read the full call →

What Rolex Rings does

Rolex Rings manufactures hot-forged and precision-machined steel rings and components at three manufacturing units in Rajkot, Gujarat. It supplies bearing rings (inner/outer rings for tapered, cylindrical, spherical and angular-contact bearings, deep groove and self-aligning ball bearings) to bearing majors, and machined automotive components (gear blanks, ring gears, wheel hubs, hub bearing units, CVJ and differential parts) to Tier-1 global auto OEMs spanning two-wheelers through heavy commercial vehicles. Manufacturing runs on high-speed hot formers (Sakamura, Hatebur, Enomoto, Eumuco, Kurimoto) and CNC/VMC machining lines (DMG, FUJI, Hyundai, Mazak, Muratec, ACE, TSUGAMI), with in-house tool and die making. Products are exported to customers in Europe, South America, North America and Asia alongside domestic sales.

Segments

  • Bearing Rings
  • Automotive Components
Forging capacity ranking in India
5th largest
Installed forging capacity
1,65,000 MTPA
Installed machining capacity
75+ million pieces/year
Manufacturing units
3 (all in Rajkot, Gujarat)
Forging lines
26
Machining spindles
625
Founded 1980Headquarters Kotharia, Rajkot, Gujarat 360004

Guidance record · Q1 FY27

what the last two calls moved 20 tracked 3 delivered 5 missed 12 open
  • Auto Component Business Share on track said Q4 FY25 Promised: More than 50% Q1 FY27: Auto components revenue was ₹163 crores out of total revenue of ₹304 crores, representing a share of 53.6%, which meets the target for this quarter.
  • FY26 Revenue Growth missed said Q3 FY25 Promised: 15-20% Q1 FY27: Promise related to FY26, which is complete. Not mentioned.
  • Domestic Bearing Ring Business Growth FY27 at risk said Q4 FY26 Promised: 10-15% jump on a year-on-year basis Q1 FY27: Domestic bearing ring revenue declined by 4.4% YoY in Q1 FY27, contrary to the guided growth. This puts the full-year target at risk.

All 20 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 4.1%, net profit up 22.4% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue300 260 284 292 271 −10%275 +6%306 +8%304 +4%
EBITDA66 51 52 62 55 −17%58 +14%56 +8%69 +11%
Net profit49 20 55 49 44 −10%48 +140%0 −100%60 +22%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −87.6% 1Y

₹0.0k₹0.5k₹1.0k₹1.5kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 17 Nov 2025Q3 FY26 — 13 Feb 2026Q4 FY26 — 18 May 2026Q1 FY27 — 6 Aug 2026

1Y: ₹1,387.2 on 10 Sept 2025 → ₹171.37. High ₹1,400.7 (15 Sept 2025), low ₹100.44 (24 Nov 2025).

How the price took the results

close before → close after

Q1 FY27
+5.5%
6 Aug
Q4 FY26
−3.5%
18 May
Q3 FY26
−4.2%
13 Feb
Q2 FY26
−1.0%
17 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue fell 1.0% a year over 3 years, FY23 to FY26. Operating margin narrowed to 20.2%.

Year endingFY23FY24FY25FY26
Revenue₹1.2k Cr₹1.2k Cr₹1.2k Cr₹1.1k Cr
Operating profit₹261 Cr₹262 Cr₹240 Cr₹231 Cr
Operating margin22.1%21.5%20.8%20.2%
Interest₹10 Cr₹3 Cr₹2 Cr₹1 Cr
Depreciation₹27 Cr₹33 Cr₹41 Cr₹36 Cr
Net profit₹198 Cr₹156 Cr₹174 Cr₹141 Cr
Net margin16.8%12.8%15.1%12.3%
Cash from operations₹213 Cr₹221 Cr₹227 Cr₹190 Cr
Free cash flow₹172 Cr₹168 Cr₹177 Cr₹155 Cr
ROCE32.0%28.0%23.0%21.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹24 Cr₹27 Cr₹27 Cr₹27 Cr₹27 Cr₹27 Cr
Reserves₹333 Cr₹518 Cr₹716 Cr₹871 Cr₹1.1k Cr₹1.2k Cr
Borrowings₹250 Cr₹223 Cr₹82 Cr₹18 Cr₹0 Cr₹0 Cr
Other liabilities₹184 Cr₹217 Cr₹189 Cr₹205 Cr₹200 Cr₹158 Cr
Total liabilities₹791 Cr₹985 Cr₹1.0k Cr₹1.1k Cr₹1.4k Cr₹1.4k Cr
Fixed assets₹372 Cr₹380 Cr₹391 Cr₹466 Cr₹440 Cr₹447 Cr
Capital work in progress₹1 Cr₹46 Cr₹46 Cr₹4 Cr₹40 Cr₹39 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹107 Cr₹302 Cr₹288 Cr
Other assets₹417 Cr₹559 Cr₹577 Cr₹543 Cr₹585 Cr₹597 Cr
Total assets₹791 Cr₹985 Cr₹1.0k Cr₹1.1k Cr₹1.4k Cr₹1.4k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +6.07 pp while DIIs trimmed −3.20 pp. The shareholder count grew 86% to 97,151.

Promoters
52.2%
FIIs
5.4%
DIIs
28.8%
Public
13.6%

Since Jun 2025

  • Public +6.07 pp
  • DIIs −3.20 pp
  • FIIs −1.75 pp

How it drifted, 12 quarters

Over this window the public went from 7.1% to 13.6% — +6.5 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 55.3%, FIIs 5.6%, DIIs 32.1%, Public 7.1%.Dec '23: Promoters 55.3%, FIIs 6.3%, DIIs 31.7%, Public 6.8%.Mar '24: Promoters 55.3%, FIIs 7.8%, DIIs 29.9%, Public 7.1%.Jun '24: Promoters 55.3%, FIIs 7.0%, DIIs 30.4%, Public 7.3%.Sep '24: Promoters 53.4%, FIIs 8.0%, DIIs 31.9%, Public 6.8%.Dec '24: Promoters 53.4%, FIIs 8.1%, DIIs 31.6%, Public 6.9%.Mar '25: Promoters 53.4%, FIIs 7.3%, DIIs 32.0%, Public 7.3%.Jun '25: Promoters 53.4%, FIIs 7.2%, DIIs 32.0%, Public 7.5%.Sep '25: Promoters 53.4%, FIIs 7.0%, DIIs 30.9%, Public 8.7%.Dec '25: Promoters 53.4%, FIIs 6.0%, DIIs 30.2%, Public 10.5%.Mar '26: Promoters 52.2%, FIIs 6.0%, DIIs 30.3%, Public 11.5%.Jun '26: Promoters 52.2%, FIIs 5.4%, DIIs 28.8%, Public 13.6%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 3 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Rolex Rings above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Rupesh Dayashankar Madeka 10.00%unchanged
Pinakin Dayashankar Madeka 9.95%unchanged
Jiten Dayashankar Madeka 9.87%unchanged
Manesh Dayashankar Madeka 9.54%unchanged
Bhautik Dayashankar Madeka 8.70%unchanged
ICICI Prudential Flexicap Fund Mutual fund6.78%unchanged
Kotak Small Cap Fund Mutual fund3.93%−1.96 pp
Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small Cap Fund Mutual fund3.60%−0.10 pp
Kotak Funds - India Midcap Fund Global fund house3.49%−0.75 pp
DSP Small Cap Fund Mutual fund3.13%unchanged
Franklin India Small Cap Fund Mutual fund2.95%+0.85 pp
HDFC Mutual Fund - HDFC Childrens Fund Mutual fund1.75%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in ROLEXRINGS

Filings to Jul 2026

0 new, 0 added, 1 trimmed, 0 sold out — net −17.30 L shares (−36.3%).

Held by funds
₹42 Cr
1 schemes
Biggest holder
HDFC Children's Fund
₹42 Cr · 0.4% of that fund
SchemeHoldingLast month
HDFC Children's Fund HDFC Mutual Fund₹42 Cr−17.30 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Jul 2026

0 added, 1 trimmed — net −17.30 L shares (−36.3%)

Funds are sitting on
-29%
vs est. average cost
Held by funds
₹42 Cr
1 schemes · ≈ 0.96% of the company

Shares held by these funds −25%

Aug '23 30.34 L shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹171, this stock must grow earnings at 21% every year for 7 years. Our analysis caps realistic growth at ~-13%. At that growth it is worth ₹27 — downside of 84%.

Growth the price implies
21.2% a year
for 7 years, fading to 4%
It has actually compounded at
-13.1% a year
net profit, FY23–FY26 · EPS -13.1%
The gap
0.3 pp
-84% downside if it only repeats history
Price today ₹171.37 Value at the reference growth ₹26.85

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Rolex Rings

Guides on how to read this kind of business and the numbers that matter.