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 stable revenue and margin growth, with strong domestic and European performance offsetting U.S. export weakness due to tariff uncertainty. Management expects a sharp U.S. recovery and 15%-18% revenue growth in FY 2027 as trade barriers ease.
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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 revenue of INR 292 crores and EBITDA margin improvement, driven by domestic and European growth in auto components, while US tariff uncertainty and subdued industrial demand weighed on exports. Net debt remains negative, and FY26 growth guidance has been revised lower.
Fiscal Year 2025
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Q4 FY25 saw a 9% sequential revenue increase and a rebound in profitability, driven by growth in auto components and new customer additions. FY25 revenue reached INR 1,154 crore, with EBITDA margin at 23%. Management guides for 15% revenue growth and stable margins in FY26.
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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.