Rolex Rings stock skyrockets over 6% post stellar Q3 performance

4 Feb 2022 , 11:19 AM

Rolex Rings Ltd. reported results for the quarter ended December 2021. The company is witnessing strong demand pull across domestic as well as exports markets.

Company’s revenue from operations for December 2021 quarter stood at Rs 242.10 crore as against Rs 258.50 crore for December 2020 quarter, down by 6.33% YoY. Revenue for the 9M period ended December 2021 stood at Rs 728.90 crore against Rs 616.30 crore for the previous 9M period, increasing 18.27% YoY.

EBITDA for the 9M period ending December 2021 was Rs 168.30 crore against Rs 112.30 crore for the 9M period ending December 2020, up by 23% YoY.

Its PAT for the quarter ended December 2021 stood at Rs 29.80 crore against Rs 32.70 crore for the quarter ended December 2020, down by 9% YoY. PAT for the 9M period ending December 2021 stood at Rs 92.80 crore against Rs 87 crore for the previous 9M period, increasing 6.66% YoY.

Rolex Rings have added new clients with revenue potential exceeding Rs 100 crore p.a. in FY’24 including an order from a US-based bearing rings company, a European plant of an existing global bearing rings customer and a Europe based auto-component company. 

At around 11.24 pm, Rolex Rings was trading at Rs1,280 up by Rs77.35 or 6.43% from its previous closing of Rs1,202.65. The scrip opened at Rs1,210.75 and has touched day’s high and low of Rs1,288 and Rs1,160 respectively.