Rolex Rings Limited

ROLEXRINGS.NS

Manufacturing - Metal Fabrication · Industrials

Price

₹174.83

+1.82 (+1.05%)

Market Cap

₹4.76B

Exchange

National Stock Exchange of India

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Sep 3, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Weak

Cash Flow

Mixed

Stability

Good

Valuation

Good

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Share count rising — dilution

+908.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 27.0M (2022) → 272.4M (2026)

Winston Score History

The full picture

Rolex Rings is an Indian company that makes forged and machined metal rings and flanges. These precision parts go into bearings, automotive components, and industrial machinery. It is one of the largest manufacturers of hot-rolled forged rings in India, supplying major bearing makers and auto companies worldwide.

The company earns revenue by selling finished metal components, with a mix of domestic and export sales spanning Europe, North America, and Asia. Its vertically integrated operations — covering forging, ring rolling, heat treatment, and machining under one roof — give it cost and quality advantages over smaller competitors. Key growth drivers include rising demand from the electric vehicle and renewable energy sectors, though the business faces risks from volatile steel prices and concentration among a limited number of large customers.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+7.7% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-100.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

₹0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

52.5%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

₹3.9B cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Rolex Rings Limited is growing revenue at 8% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

46.2%

Healthy — 46.2% gross margin

Profit after running costs

Operating Margin

19.6%

Healthy — 19.6% operating margin

Return on the money invested

ROCE

16.5%

Strong — 16.5% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+1.8%

Nearly flat sales (+1.8% YoY)

Profit growth

EPS YoY

-35.2%

Earnings shrinking (-35.2% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

57%

Weak — only 57% of profit becomes cash

Spare cash per sale

FCF Margin

6.4%

Modest free cash flow (6.4%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

133.75x

Comfortably covers interest (133.8x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

4.2x

Attractive valuation — P/E 4.2

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

-25.4

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.

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