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Rolex Rings - Margins Likely To Stabilise Around Current Level: HDFC Securities Initiates Coverage

Rolex Rings - Margins Likely To Stabilise Around Current Level: HDFC Securities Initiates Coverage

<div class="paragraphs"><p>Automotive parts' forging facility at Rolex Rings Ltd. (Source: Company website)</p></div>
Automotive parts' forging facility at Rolex Rings Ltd. (Source: Company website)

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HDFC Securities Retail Research

Rolex Rings Ltd. has witnessed strong growth in FY22 and the management has guided that the momentum is expected to continue as they are witnessing strong demand pull across domestic as well as export markets.

They have guided for Rs 1250 crore revenue for this year and are confident of achieving similar kind of margin run rate.

To reduce the power cost, the company has invested in renewable energies projects. It has already built windmills and now invested in solar plant which will be fully operational by end of FY23.

Rolex Rings is also looking to improve the capacity utilisation levels.

To grab the rising opportunity from the electric vehicle space, the management has increased focus in this area and has guided that the share of EV in the total sales could rise up to 14-15% in next two years from current 7%.

Click on the attachment to read the full report:

HDFC Securities Retail Research - Initiating Coverage Rolex Rings Ltd..pdf

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