Rolex Rings Ltd - Stock Valuation and Financial Performance

BSE: 543325 | NSE: ROLEXRINGS | Bearings | Small Cap

Rolex Rings Share Price

1,745.75 -22.05 -1.25%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Rolex Rings

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Rolex Rings stock performance -

mw4me loader
P/E Ratio (SA):
26.59
Market Cap:
4,754.3 Cr.
52-wk low:
1,726.9
52-wk high:
2,613.5

Is Rolex Rings Ltd an attractive stock to invest in?

1. Is Rolex Rings Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Rolex Rings Ltd is a good quality company.

2. Is Rolex Rings Ltd undervalued or overvalued?

The key valuation ratios of Rolex Rings Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Rolex Rings Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Rolex Rings Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Rolex Rings:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Rolex Rings Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 8.2%10%10.9%17.4%15.9%13.7%12.4%16.6%20.4%24.2%-
Value Creation
Index
NA-0.3-0.20.20.10.0-0.10.20.50.8-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 5185555986957709046666161,0101,1791,205
Sales YoY Gr.-7.3%7.7%16.1%10.9%17.4%-26.4%-7.5%63.9%16.7%-
Adj EPS -15.510.3302924.119.935.746.168.365.7
YoY Gr.-NA87.9%192.6%-3.4%-16.8%-17.7%79.9%29%48.2%-
BVPS (₹) -15.7-10.20.13262.788.4111.8148.8200.1272.8321.5
Adj Net
Profit
-2.413.124.67269.657.947.685.7126186179
Cash Flow from Ops. 85.989.285.415713619418459.258.9213-
Debt/CF from Ops. 7.26.673.63.721.44.23.80.4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 9.6%8.9%21%16.7%
Adj EPS NA18.7%51%48.2%
BVPSNA34.2%34.6%36.4%
Share Price - - - -12.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
7.5-65.41668.8138.454.729.719.327.427.828.922.1
Op. Profit
Mgn %
15.916.618.322.120.922.218.217.722.722.121.1
Net Profit
Mgn %
-0.52.44.110.496.47.213.912.415.814.8
Debt to
Equity
-21.3-54.443.76.331.710.70.40.1-
Working Cap
Days
16517818218418816318920817116781
Cash Conv.
Cycle
608886851039511011510110655

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 20.97%

Net Profit is growing at healthy rate in last 3 years 50.95%

Return on Equity has declined versus last 3 years average to 22.10%

Sales growth is not so good in last 4 quarters at 3.50%

Latest Financials - Rolex Rings Ltd

Standalone Consolidated
TTM EPS (₹) 65.7 -
TTM Sales (₹ Cr.) 1,205 -
BVPS (₹.) 321.5 -
Reserves (₹ Cr.) 848 -
P/BV 5.43 -
PE 26.59 -
From the Market
52 Week Low / High (₹) 1726.90 / 2613.45
All Time Low / High (₹) 999.95 / 2613.45
Market Cap (₹ Cr.) 4,754
Equity (₹ Cr.) 27.2
Face Value (₹) 10
Industry PE 41.9

Management X-Ray of Rolex Rings:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Rolex Rings

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales5185555986957709046666161,0101,179
Operating Expenses 435463489541609703545507781918
Manufacturing Costs5497111141149174132132197201
Material Costs296287288321364434329287464600
Employee Cost 31303344556153525959
Other Costs 54495735413430366158
Operating Profit 8292109153161201121109229261
Operating Profit Margin (%) 15.9%16.6%18.3%22.0%20.9%22.2%18.2%17.7%22.7%22.1%
Other Income 362977931119
Interest 67655855504132122010
Depreciation 22212223232527252627
Exceptional Items 0000000000
Profit Before Tax -2133284951417275194243
Tax 0077218019-126245
Profit After Tax -213257774625387132198
PAT Margin (%) -0.5%2.4%4.1%11.0%9.6%6.8%7.9%14.1%13.1%16.8%
Adjusted EPS (₹)-1.05.510.331.930.725.722.136.348.472.7
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund -29-111490164226268357545743
Share Capital 32383838383824242727
Reserves -62-48-2453126188244333518716
Minority Interest0000000000
Debt57852154650643131723821621781
Long Term Debt394312295229167834432200
Short Term Debt18520925127726423419418419781
Trade Payables837611086989174112120111
Others Liabilities 4579728211014810610610378
Total Liabilities 6786657417648047826867919851,013

Fixed Assets

Gross Block572590648682695765401424457495
Accumulated Depreciation271291313336359383265277104
Net Fixed Assets301299335346336382374372380391
CWIP 344080401014646
Investments 0000000000
Inventories123122132132161160131171262256
Trade Receivables122124172175201181128171231228
Cash Equivalents 5333422216516102034
Others Assets44475289505337654758
Total Assets 6786657417648047826867919851,013

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 8689851571361941845959213
PBT -2133284951417275194243
Adjustment 88847676686359334336
Changes in Working Capital 0-7-154-222575-43-144-2
Tax Paid 0-1-7-7-5-35-22-6-35-64
Cash Flow From Investing Activity 03-54-14-32-36-14-36-68-44
Capex 0-20-40-39-36-36-16-38-69-41
Net Investments 0002330-2-1-1-4
Others 023-142103321
Cash Flow From Financing Activity 0-112-37-126-121-158-169-208-151
Net Proceeds from Shares 05000000530
Net Proceeds from Borrowing 00-30-61-56-91-87-2-28-26
Interest Paid 0-65-51-55-50-41-34-11-16-10
Dividend Paid 0000000000
Others 0-5343-9-14-26-48-7-1-115
Net Cash Flow 86-20-617-17-113-118
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)N/AN/A0199.164.8534.0422.0627.8329.2630.76
ROCE (%)N/AN/A14.9521.8121.9928.8818.4615.3331.2731.79
Asset Turnover Ratio0.880.890.920.9911.140.910.831.141.18
PAT to CFO Conversion(x)N/A6.853.42.041.843.133.470.680.451.08
Working Capital Days
Receivable Days69758485887785887371
Inventory Days72757164686580897880
Payable Days1171021171119280921189170

Rolex Rings Ltd Stock News

Rolex Rings Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Rolex Rings on 28-Mar-2024 16:01 is ₹1,745.8.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Rolex Rings stood at ₹4,754.3.
The latest P/E ratio of Rolex Rings as of 28-Mar-2024 16:01 is 26.59.
The latest P/B ratio of Rolex Rings as of 28-Mar-2024 16:01 is 5.43.
The 52-week high of Rolex Rings is ₹2,613.5 and the 52-week low is ₹1,726.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Rolex Rings is ₹1,205 ( Cr.) .

About Rolex Rings Ltd

Rolex Rings is one of the top five forging companies in India in terms of installed capacity and a manufacturer and global supplier of hot rolled forged and machined bearing rings, and automotive components for segments of vehicles including two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles, electric vehicles), industrial machinery, wind turbines and railways, amongst other segments. It supplies domestically and internationally to large marquee customers including some of the leading bearing manufacturing companies, tier-I suppliers to global auto companies and some auto OEMs. The company is one of the key manufacturers of bearing rings in India and cater to most of the leading bearing companies in India.

The company started its manufacturing operations in 1988 with its first manufacturing plant set up in Rajkot. Its product portfolio includes a wide range of bearing rings, parts of gear box and automotive components, among others. Its manufacturing capabilities are complemented by its tool design, engineering and product development capabilities. Till date, it has offered a diverse range of hot forged and machined alloy steel bearing rings weighing from 0.01 kilograms to over 163 kilograms, and with inner diameter of 25 millimeters to outer diameter of 900 millimeters. This makes its products suitable for a wide range of end-user industries such as automotive, railways, industrial infrastructure, renewable energy, among others.

Business area of the company

The company is among the leading manufacturers of forged and machined components in India.

Awards and Accreditations

  • 2011: Excellence in Cost and Productivity - Timken.
  • 2011: Excellence in Technology - Timken.
  • 2014: GM Supplier Quality Excellence Award.
  • 2014: Certificate of Supplier Quality for fulfilling the quality assurance compliance by Hyundai Motors India.
  • 2016: Excellence in Technology Advancement by Timken powered by VRIDDHI.
  • 2018: Supplier Quality Excellence Award - General Motors.
  • 2018: Excellence in New Product Development - Timken.
  • 2019: Supplier Quality Excellence Award - General Motors.
  • 2021: Q1 Preferred Quality Status - Ford.

Major events and milestones

  • 1977: Commencement of business in the name of Rolex Industries.
  • 1978: Formation of partnership firm in the name of Rolex Industries.
  • 1988: Started manufacturing of forging and forged products.
  • 1989: Obtained Importer-Exporter code for export of business.
  • 1991: Commissioning of Unit 1.
  • 2003: Purchase of Sakamura model HBP-160.
  • 2003: Conversion of partnership firm into Company.
  • 2007: Purchased 6 Manyo 600 tons Auto Forging Press.
  • 2007: Investment by Rivendell PE LLC.
  • 2007: Availed registration of central excise for Unit 2.
  • 2010: Purchase of SMS MEER Ring Rolling line.
  • 2011: Purchase of Hatebur-Hotmatic@ HM 35 Machine.
  • 2014: Setting up of Unit 3.
  • 2017: Purchase of Sakamura Model: HFW-1000-4 Hot Former.
  • 2018: Purchase of Servomoto Driven Screw Press 16000kN from Enomoto Machine.
  • 2019: Crossed Rs 9,000 million in revenue in Fiscal 2019.
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