India · Delayed Price · Currency is INR Rolex Rings Earnings Call Transcripts
Fiscal Year 2026
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Revenue remained stable at INR 1,144 crores in FY 2026 despite a 30% drop in U.S. exports, offset by strong growth in Europe and India. Gross margin improved to 51.5%, and EBITDA margin stayed above 20%. Outlook for FY 2027 is positive, with 15%-17% growth expected and U.S. recovery underway.
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Q3 FY 2026 delivered strong auto component growth and margin expansion, offsetting U.S. export weakness due to tariff uncertainty. FY 2026 revenue is expected flat, with 15%-18% growth targeted for FY 2027 as tariffs normalize and new orders ramp up.
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Q2 FY26 saw a 7% revenue decline due to U.S. tariff hikes, but domestic and European markets grew. Management expects flat FY26 results, with strong growth in FY27-FY28 as U.S. trade clarity returns and new orders ramp up. Company remains debt-free and maintains robust margins.
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Q1 FY26 saw stable revenue and margins, with domestic and European markets driving growth amid subdued U.S. exports due to tariff uncertainty. EBITDA margins remain healthy, and the company maintains a strong balance sheet with no debt and robust cash flows.
Fiscal Year 2025
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Q4 FY25 saw a 9% sequential revenue increase and a rebound in profitability, with auto components now leading segment growth. Management guides for 15% revenue growth in FY26, stable margins, and gradual recovery in bearing rings over 6-8 quarters.
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Q3 FY25 saw revenue and profit declines due to weak overseas demand and an extraordinary provision, but strong cash flow and a net debt-free position were maintained. Management expects 15%-20% revenue growth in FY26, driven by new orders and program ramp-ups.