Rolex Rings Limited is recognized as one of India's top five forging companies by installed capacity. It functions as a manufacturer and global supplier of hot rolled forged and machined bearing rings, along with automotive components. The company serves a diverse range of sectors, including vehicles, industrial machinery, wind turbines, and railways. Its manufacturing operations began in 1988 with its first plant in Rajkot, India, where the company is headquartered. Founded by Manesh Dayashankar Madeka and Rupesh Dayashankar Madeka in 1977, Rolex Rings is a key player in the Indian bearing rings market, catering to most leading domestic bearing companies. Its global reach extends to marquee customers, including major bearing manufacturers, Tier-1 suppliers to global auto companies, and select auto OEMs. The company conducts business across India, Canada, the US, Mexico, Slovakia, France, Portugal, Poland, Germany, Romania, Czech Republic, Hungary, Austria, Italy, Russia, and South Africa.
Rolex Rings offers a comprehensive array of hot forged and machined alloy steel bearing rings. These range from 0.01 kg to over 163 kg in weight, with inner diameters from 25 mm to outer diameters of 900 mm. Its production is distributed across its manufacturing plants in Rajkot. Bearing rings represent 60% of the company's turnover, with automotive components contributing the remaining 40%.
The company's extensive product range includes:
- Transmission Components: Gear blanks, ring gears, sun and pinion, shafts, and lock nuts.
- Engine Components: Pulleys, cam lobes, and other forged parts.
- Chassis Components: Wheel hubs, Gen2 and Gen3 bearing components, output shafts, and CVJ components.
- Bearing Rings: TRB, CRB, SRB, SPB, DGBB, angular contact, and double-row bearings.
- Exhaust System Components: Flanges, biocones, and tulips.
Rolex Rings' products find application in a wide spectrum of end-user industries. These include automotive, railways, industrial infrastructure, and renewable energy, among others. Its components are utilized in sectors such as industrial, railways, off-highway, earthmoving, windmills, textiles, electrical, defense, power, aerospace, marine, and oil & natural gas. The company serves all types of vehicles, from two-wheelers to four-wheelers.
Key clients include:
- General Motors
- Allison Transmission
- GKN Automotive
- Nippon Bearing Co
- Ford
- ABC Bearings
- Knorr-Bremse
- Linamar Corporation
- Timken
- Nachi
- SKF
- NTN
- Carraro Group
- Schaeffler
- Automotive Axles Ltd
- Magna Getrag
- Faurecia
- NRB Bearings
- Magneti Marelli
- ICSA
- RSB
As of May 30, 2025, Rolex Rings Ltd has a market capitalization of ₹4,299.32 crores. The company has reported revenues of ₹1,155 crores and a profit of ₹174 crores. Promoter holding has decreased to 53.35% as of March 2025, from 55.25% in June 2024.
Recent quarterly performance indicates mixed results:
- Q3 FY2024-25 (December 2024): Net profit declined by 45.46% to ₹20.19 crore compared to ₹37.02 crore in the previous year (December 2023). Sales decreased by 4.91% to ₹259.88 crore from ₹273.31 crore.
- Q2 FY2024-25 (September 2024): Net profit rose by 4.90% to ₹49.26 crore from ₹46.96 crore in the same quarter last year.
The company has received several accolades for its excellence:
- Excellence in Technology and Cost and Productivity (2011)
- Supplier Quality Excellence Award from General Motors (2018 & 2019)
- Excellence in New Product Development (2018)
- Q1 Preferred Quality Status Award from Ford (May 2021)
- Certificate of Supplier Quality from Hyundai Motors India (2014)
- Excellence in Technology Advancement by Timken (2016)
- Last 12 Months (BSE): Share price moved down by 27.00%.
- Last 3 Years (BSE): Share price moved up by 9.53%.
- All-Time High: ₹2,794.00 (September 27, 2024)
- All-Time Low: ₹994.80 (November 29, 2021)
In a Board Meeting outcome for March 31, 2025, the company disclosed a qualified audit opinion due to a ₹2,278.60 million bank demand. A provision of ₹506 million was recognized, and FY25 audited results were approved on May 30.
According to the Q4 FY25 earnings call:
- The company reported 9% quarter-on-quarter revenue growth.
- EBITDA margins stood at 23%.
- The bearing segment experienced sluggishness, while auto components showed growth.
Rolex Rings Ltd continues to maintain its standing as a leading forging company in India, supported by robust manufacturing capabilities and a diverse product portfolio serving global industries.
