Rolex Rings earnings calls.

Rolex Rings delivered FY26 revenue of Rs 1,144Current reported value: 1,144. No comparable prior figure is available in the source record. crore, broadly flat versus FY25's Rs 1,154 crore, navigating significant US tariff headwinds that reduced US exports by approximately 30%. The company successfully pivoted through strong 25% Europe growth and 50% YoY domestic expansion. Gross margins expanded 210bps to 51.5%Current reported value: Gross margins expanded 210bps to 51.5%. No comparable prior figure is available in the source record. driven by favorable product mix and domestic steel sourcing, while EBITDA margins held above 20%Current reported value: EBITDA margins held above 20%. No comparable prior figure is available in the source record. despite disruptions. A major customer temporarily shut plants when tariffs spiked to 53%, but normalized to 25% under Section 232. The company settled its Rs 101 crore Right of Recompense obligation in March 2026, becoming entirely debt-free with no covenants, and announced a Rs 180 crore buyback. Operating cash flow of Rs 190 crore against just Rs 36 crore capex leaves substantial deployment capacity. Management targets 15-17% revenue growth in FY27Current reported value: 15-17% revenue growth in FY27. No comparable prior figure is available in the source record. with further acceleration in FY28, driven by US recovery, European ramp-ups, and new program additions. Risk: potential for renewed tariff volatility given ongoing geopolitical uncertainty, customer concentration at 65-70% from top-5 groups, and freight cost pressures with 2-3 week container delays.