Rolex Rings Limited has informed the Exchange about Investor Presentation
Rolex Rings Limited Update on earnings for Q2 and H1FY24
Safe Harbor
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Rolex Rings Ltd (the “Company”), have been prepared solely for information purposes and
do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding
commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This
Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or
implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all
inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-
looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult
to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the
industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological
implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The
Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company
assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this
Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections
.
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Q2 and H1FY24 financials and business developments
Financial Performance - Quarterly
Revenues from Operations (₹ mn)
EBITDA (₹ mn) and margins
PBT/ PAT (₹ mn)
4 7 8 2
,
3 1 1 3
,
8 0 2 3
,
3,500.0
3,000.0
2,500.0
2,000.0
1,500.0
1,000.0
500.0
-
EBITDA (INR mn) 23.6%
23.1%
691
723
800.00
700.00
600.00
500.00
400.00
300.00
200.00
100.00
-
EBITDA Margin %
PBT (INR Mn)
PAT (INR Mn)
605
492
650
633
484
470
22.0%
713
700.00
600.00
500.00
400.00
300.00
200.00
100.00
-
Q2FY23
Q1FY24
Q2FY24
Q2FY23
Q1FY24
Q2FY24
Q2FY23
Q1FY24
Q2FY24
Revenues from Operations (excluding scrap and other operating income) for six months ended September 30, 2023
41%
.
Bearing Rings
46%
Auto Components
59%
Exports
Domestic
54%
o Supply to Hybrid PV project to a German customer have started gradually. We expect further ramp up in Q1FY25; one of our Italian customer has also initiated sourcing for Hybrid and regular PV; few of our customer based out of Brazil and Mexico confirmed that they will initiate procurement of EV related components from us in the Jan-24;
o Indian customer for EV started with initial batches from Feb-24;
o We expect to commission our 11.5MW ground solar unit by end of
December 2023;
o We became a net debt negative Company (including current
investments) as at end of Quarter
4
Revenue mix by indicative end-user industries
Revenues from operations (excluding scrap sales and other operating income)
FY19
FY20
FY21
FY22
FY23
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
45.0%
27.4%
26.3%
0.2%
36.8%
38.2%
40.0%
42.5%
30.6%
32.3%
29.6%
26.4%
26.8%
26.1%
24.1%
27.8%
1.2%
0.2%
4.1%
7.1%
5.6%
0.3%
1.3%
0.5%
0.0%
H1FY24
40.4%
22.5%
27.3%
9.8%
PV
Industrial
CV & HCV
2W
BEV & Hybrid
5
Rolex continues to maintain growth momentum with focus on margins and strengthening balance sheet
Total Revenues from Operations (₹ mn)
EBITDA (₹ mn) and margins
PBT/ PAT (₹ mn)
Inside India
Outside India
EBITDA (INR mn)
EBITDA Margin %
14,000.00
12,000.00
10,000.00
8,000.00
6,000.00
4,000.00
2,000.00
-
9,043
5,089
10,102
6,660
3,585
6,163
5,472
3,459
11,790
6,523
3,955
3,075
2,704
4,630
5,267
6,321
3,205
3,116
22.8%
0 8 0 2
,
3,000.00
2,500.00
2,000.00
1,500.00
1,000.00
500.00
-
19.4%
18.1%
8 0 3 1
,
3 2 1 1
,
23.4%
23.4%
22.5%
3 0 4 2
,
0 0 8 2
,
6 3 4 1
,
3,000.00
2,500.00
2,000.00
1,500.00
1,000.00
500.00
-
6 0 4 1
,
PBT (INR Mn)
PAT (INR Mn)
0 3 4 2
,
1 8 9 1
,
4 4 9 1
,
9 1 3 1
,
3 8 2 1
,
4 5 9
0 9 5
1 2 7
9 2 5
0 7 8
2 5 7
FY19*
FY20*
FY21*
FY22
FY23 H1FY24
FY19*
FY20*
FY21*
FY22
FY23 H1FY24
FY19*
FY20*
FY21*
FY22
FY23 H1FY24
Operating Cash Flows & Capex (₹ mn)
Net Debt (₹ mn) and Net Debt: Equity
Return on Equity (%)
2,500.00
2,000.00
1,500.00
1,000.00
500.00
-
CFO (INR Mn)
Capex (INR Mn)
Net Debt (INR mn)
Net Debt: Equity
8 3 9 1
,
8 3 8 1
,
9 2 1 2
,
7 6 3
1 6 1
2 9 5
7 8 3
5 9 6
9 8 5
5 9 8
3 2 4
2 0 4
4,500.00
4,000.00
3,500.00
3,000.00
2,500.00
2,000.00
1,500.00
1,000.00
500.00
-
(500.00)
1.79
0 5 8 3
,
0.95
0.69
7 7 5 2
,
9 4 4 2
,
0.37
0.06
(0.01)
0 3 0 2
,
1 7 4
) 4 1 1 (
FY19*
FY20*
FY21*
FY22
FY23 H1FY24
27%
30.00%
28.00%
26.00%
24.00%
22.00%
20.00%
18.00%
16.00%
14.00%
12.00%
10.00%
20%
RoE (%)
24%
27%
24%
FY19*
FY20*
FY21*
FY22
FY23 H1FY24
FY19*
FY20*
FY21*
FY22
FY23
Note : Return on Equity = Profit After Tax / Total Equity; * indicates that numbers are based on Restated Financials; .
6
Q2FY24
Q1FY24
Q-o-Q %
Q2FY23
Y-o-Y %
3,208
38
3,246
3,113
24
3,137
Statement of Profit and Loss (Quarterly)
Particulars (₹ mn)
Income
Revenue from operations
Other income
Total income (I)
Expenses
Cost of raw materials and components consumed
1,707
1,522
Decrease/ (increase) in inventories of finished goods and work-in progress
Employee benefits expense
Finance costs
Depreciation and amortization expense
Other expenses
Total expenses (II)
Profit before tax (III) = (I - II)
Tax expense
Current tax expenses
Deferred tax charge / (Credit)
Total tax expense (IV)
Profit for the period (V) = (III - IV)
.
(51)
162
12
68
715
2,613
633
159
4
163
0
470
126
150
6
67
617
2,487
650
164
2
166
484
2,874
54
2,929
1,478
(118)
152
20
66
726
2,324
605
154
(41)
113
-
492
3%
(3%)
(3%)
11%
5%
(5%)
7
Statement of Profit and Loss (Annual/ Half Yearly)
Particulars (₹ mn)
Income
Revenue from operations
Other income
Total income (I)
Expenses
H1FY24
FY23
FY22
FY21
FY20
FY19
6,321
62
6,383
11,790
193
11,983
10,102
114
10,217
Cost of raw materials and components consumed
3,228
5,860
Decrease/ (increase) in inventories of finished goods and work-in progress
Employee benefits expense
Finance costs
Depreciation and amortization expense
Other expenses
Total expenses (II)
Profit before tax (III) = (I - II)
Tax expense
Current tax expenses
Deferred tax charge / (Credit)
Total tax expense (IV)
Profit for the period (V) = (III - IV)
.
74
312
18
135
1,332
5,100
1,283
323
6
329
954
139
592
101
269
2,593
9,553
2,430
612
(163)
449
1,981
5,195
(554)
588
204
256
2,584
8,273
1,944
666
(41)
625
1,319
6,163
34
6,198
3,166
(292)
519
117
254
1,682
5,446
752
130
(248)
(118)
870
6,660
93
6,753
3,137
156
527
322
265
1,626
6,032
721
127
64
191
529
9,043
69
9,113
4,529
(190)
608
420
254
2,085
7,707
1,406
309
506
815
590
8
Balance Sheet - Snapshot
Particulars (₹ mn)
H1FY24
FY23
FY22
FY21
FY20
FY19
Particulars (₹ mn)
H1FY24
FY23
FY22
FY21
FY20
FY19
Assets
Non-current assets
Property, equipment
plant,
and
3,851
3,902
3,789
3,851
3,902
3,789
Capital work in progress
597
458
460
597
458
460
Right-of-use assets
Intangible assets
Financial assets
a) Loans
b) Other financial assets
Income tax assets (net)
Other non-current assets
Current assets
Inventories
Financial assets
a) Loans
0
6
- 22
20
366
0
6
- 116
20
184
0
8
- 42
20
155
0
6
-
140
20
288
0
6
25
34
20
111
0
8
33
125
20
131
2,632
2,556
2,617
1,711
1,306
1,602
0
0
0
1
31
1
b) Trade receivables
2,207
2,285
2,305
1,708
1,277
1,815
c) Cash and cash equivalents
d) Bank balances other than Cash and cash equivalents
e) Other financial assets
f) Investments
Other current assets
138
240
71 140
296
217
127
76
-
186
38
162
104
-
152
46
58
68
-
195
12
152
60
-
92
1
45
102
-
113
Total assets
10,586
10,133
9,850
7,969
6,862
7,823
Equity and liabilities
Equity
Equity share capital
Other equity
Total equity
Liabilities
Non-current liabilities
Financial liabilities
a) Borrowings
b) Lease liabilities
Income tax liabilities (net)
Deferred tax liab. (net)
Provisions
Current liabilities
Financial Liabilities
a) Borrowings
b) Lease liabilities
c) Trade payables
d) Other financial liabilities
Other liabilities
Provisions
Income tax liabilities (net)
272
8,112
8,385
272
7,158
7,430
272
5,176
5,448
240
3,328
3,567
240
2,441
2,681
240
1,914
2,153
0
0
179
451
32
0
0
179
445
32
205
0
179
608
33
323
1
179
324
31
442
1
179
569
31
913
1
171
506
23
404
0
815
0
2,024
0
1,041
1,110
1,197
65
12
7
9
47
22
7
45
58
23
8
67
1,836
1,939
2,343
0
1,176
434
15
7
75
0
738
261
8
7
3
0
913
671
13
7
107
Total liabilities
2,201
2,702
4,402
4,402
4,181
5,669
Total equity and liabilities
10,586
10,133
9,850
7,969
6,862
7,823
.
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Contact Us
For further information, please contact:
+91 281 6699 577/ 677
info@rolexrings.com
Mr. Hiren Doshi – Chief Financial Officer
.
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