Rolex Rings Ltd

NSE: ROLEXRINGS BSE: 543325

Rolex Rings is a leading manufacturer of forged and machined components in India and is one of the top 5 forging companies in India. The company is a Global supplier of hot rolled forged, machined bearing rings and automotive components for various segments of vehicles, Industrial Machinery, Wind Turbines and Railways

₹143

52W: ₹99.3 — ₹176

PE 21.6 · Book ₹44.6 · +221% vs book

Market Cap₹3,903 Cr

Stock P/E21.6Price to Earnings

ROCE21.2%Return on Capital

ROE15.7%Return on Equity

Div. Yield0%Face Value ₹1

Strengths

+Company has reduced debt.
+Company is almost debt free.

Weaknesses

−Though the company is reporting repeated profits, it is not paying out dividend
−Promoter holding has decreased over last quarter: -1.13%
−Working capital days have increased from 133 days to 213 days

Shareholding Pattern

Promoters52.24%

FIIs6.01%

DIIs30.27%

Public11.49%

Category	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	55.25%	53.35%▼1.9	53.35%	53.35%	53.35%	53.35%	53.37%▲0.0	52.24%▼1.1
FIIs	6.99%	7.97%▲1.0	8.09%▲0.1	7.27%▼0.8	7.15%▼0.1	6.97%▼0.2	5.96%▼1.0	6.01%▲0.0
DIIs	30.43%	31.86%▲1.4	31.62%▼0.2	32.05%▲0.4	31.96%▼0.1	30.95%▼1.0	30.17%▼0.8	30.27%▲0.1
Public	7.34%	6.83%▼0.5	6.94%▲0.1	7.32%▲0.4	7.54%▲0.2	8.74%▲1.2	10.51%▲1.8	11.49%▲1.0

Financial Statements

Metric	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	273.31	316.34	310.76	300.27	259.88	283.89	291.58	271.38	274.84	305.69
Expenses	220.66	244.44	239.62	234.26	208.61	231.67	230.01	216.54	217.23	249.45
Operating Profit	52.65	71.9	71.14	66.01	51.27	52.22	61.57	54.84	57.61	56.24
OPM %	19.26%	22.73%	22.89%	21.98%	19.73%	18.39%	21.12%	20.21%	20.96%	18.4%
Net Profit	37.02	23.62	49.91	49.26	20.19	54.64	49.16	44.34	47.75	-0.15
EPS ₹	1.36	0.87	1.83	1.81	0.74	2.01	1.81	1.63	1.75	-0.01

AI Insights

Revenue Trend

Mar 2026 revenue at ₹1,144Cr, down 1% YoY. OPM at 20%.

Debt Position

Borrowings at ₹0Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Capex Cycle

CWIP at ₹39Cr (9% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 30.27% (-2.20pp change). FIIs: 6.01% (+1.00pp change). Promoters hold 52.24%.

Margin & Efficiency

ROCE improving from 0% (Mar 2016) to 21% (Mar 2026). Working capital days: 213.

Valuation

PE 21.6x with 21.2% ROCE. Price is 221% above book value of ₹44.6. Dividend yield: 0%.