Rolex Rings sets July 3 as record date for ₹180-crore share buyback

Rolex Rings, one of India's leading manufacturers of forged and machined components, has fixed Friday, July 3, 2026, as the record date for its proposed share buyback.

The company plans to buy back up to 1 crore (10 million) fully paid-up equity shares with a face value of Re 1 each at ₹180 per share through the tender offer route. The record date has been set to determine the entitlement and the names of shareholders eligible to participate in the buyback.

The proposed buyback was approved by the company's board on June 3, 2026. At the buyback price of ₹180 per share, the total size of the repurchase offer is capped at ₹180 crore. The buyback price represents a 22% premium to the stock's latest closing price of ₹148.

The company said the buyback will be carried out on a proportionate basis through the tender offer route in accordance with SEBI regulations and applicable listing norms.

Shares remain under pressure

The buyback comes at a time when the stock has been struggling to regain momentum on Dalal Street, slipping to multi-month lows and eroding significant investor wealth.

After hitting a record high of ₹279.40 in September 2024, the stock came under sustained selling pressure and has since declined 47%.

During this period, the stock attempted a few recoveries and closed a couple of months with strong gains. However, each rebound proved short-lived, with selling pressure quickly resurfacing and pushing the stock back into negative territory.

Between October 2024 and November 2025, the stock remained under persistent pressure, ending most months in the red and declining nearly 60% cumulatively. The prolonged weakness was largely attributed to concerns over US tariffs, which weighed on the company's growth outlook.

The United States remains a key market for Rolex Rings, contributing around 25% of its revenue.

On an annual basis, the stock closed each of the last two calendar years in the red, declining 27% and 30%, respectively.

However, the stock has staged a modest recovery in 2026, gaining around 16% year-to-date, although it remains well below its 2025 high of ₹193.50.

March quarter performance

For the quarter ended March 2026, the company reported a net loss of ₹0.15 crore, compared with a net profit of ₹54.64 crore in the corresponding quarter last year. The company attributed the loss to an exceptional RoR charge.

Revenue from operations increased 8% year-on-year to ₹305.69 crore from ₹283.89 crore in the year-ago quarter.

At the operating level, EBITDA rose 8% to ₹56.23 crore from ₹52.22 crore a year earlier, while the EBITDA margin remained unchanged at 18.4%.

For the full financial year, the company reported a net profit of Rs141 crore, compared with ₹174 crore in FY25. Revenue from operations declined marginally to ₹1,144 crore in FY26 from ₹1,155 crore in the previous financial year.

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