ROLEX RINGS 2023-24 Annual Report Analysis

Fri, 16 Aug

ROLEX RINGS has announced its results for the year ended March 2024. Let us have a look at the detailed performance review of the company during FY23-24.

ROLEX RINGS Income Statement Analysis

• Operating income during the year rose 3.6% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 11.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 18.8% in FY24 as against 22.1% in FY23.
• Depreciation charges increased by 21.2% and finance costs decreased by 72.5% YoY, respectively.
• Other income declined by 22.0% YoY.
• Net profit for the year declined by 21.2% YoY.
• Net profit margins during the year declined from 16.8% in FY23 to 12.8% in FY24.

ROLEX RINGS Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	11,790	12,218	3.6%
Other income	Rs m	193	151	-22.0%
Total Revenues	Rs m	11,983	12,368	3.2%
Gross profit	Rs m	2,607	2,300	-11.8%
Depreciation	Rs m	269	326	21.2%
Interest	Rs m	98	27	-72.5%
Profit before tax	Rs m	2,433	2,097	-13.8%
Tax	Rs m	452	537	18.8%
Profit after tax	Rs m	1,981	1,560	-21.2%
Gross profit margin	%	22.1	18.8
Effective tax rate	%	18.6	25.6
Net profit margin	%	16.8	12.8

Don't Miss: Key Information for Long-term Investors

ROLEX RINGS Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 2 billion as compared to Rs 2 billion in FY23, thereby witnessing an decrease of -21.2%.
• Current assets rose 15% and stood at Rs 6 billion, while fixed assets rose 6% and stood at Rs 5 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 11 billion as against Rs 10 billion during FY23, thereby witnessing a growth of 11%.

ROLEX RINGS Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	7,430	8,982	20.9
Current Liabilities	Rs m	2,046	1,613	-21.2
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	10,133	11,209	10.6
Current assets	Rs m	5,446	6,250	14.8
Fixed Assets	Rs m	4,687	4,959	5.8
Total Assets	Rs m	10,133	11,209	10.6

ROLEX RINGS Cash Flow Statement Analysis

• ROLEX RINGS's cash flow from operating activities (CFO) during FY24 stood at Rs 2 billion, an improvement of 3.7% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -2 billion, an improvement of 258.1% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -662 million, an improvement of 56% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -28 million from the Rs 179 million net cash flows seen during FY23.

ROLEX RINGS Cash Flow Statement 2023-24

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-23	Mar-24
Cash Flow from Operating Activities	Rs m	2,135	2,214	3.7%
Cash Flow from Investing Activities	Rs m	-441	-1,581	-
Cash Flow from Financing Activities	Rs m	-1,514	-662	-
Net Cash Flow	Rs m	179	-28	-

Current Valuations for ROLEX RINGS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 57.3, an decline from the EPS of Rs 72.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 2,200.1, stands at 38.0 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 6.7 times, while the price to sales ratio stands at 4.9 times.
• The company's price to cash flow (P/CF) ratio stood at 31.3 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Sales per share (Unadj.)	Rs	433.0	448.7
TTM Earnings per share	Rs	72.7	57.3
Diluted earnings per share	Rs	72.7	57.3
Price to Cash Flow	x	24.2	31.3
TTM P/E ratio	x	27.5	38.0
Price / Book Value ratio	x	6.1	6.6
Market Cap	Rs m	45,071	59,101
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for ROLEX RINGS

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 3.9x during FY24, from 2.7x during FY23. The current ratio measures the company's ability to pay short-term and long-term obligations.

Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 78.7x during FY24, from 25.7x during FY23. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company declined and down at 17.4% during FY24, from 26.7% during FY24. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

Return on Capital Employed (ROCE): The ROCE for the company declined and down at 23.6% during FY24, from 34.1% during FY23. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

Return on Assets (ROA): The ROA of the company declined and down at 14.2% during FY24, from 20.5% during FY23. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Current ratio	x	2.7	3.9
Debtors’ Days	Days	71	65
Interest coverage	x	25.7	78.7
Debt to equity ratio	x	0.0	0.0
Return on assets	%	20.5	14.2
Return on equity	%	26.7	17.4
Return on capital employed	%	34.1	23.6

To see how ROLEX RINGS has performed over the last 5 years, please visit here.

ROLEX RINGS Share Price Performance

Over the last one year, ROLEX RINGS share price has moved up from Rs 2,091.9 to Rs 2,200.1, registering a gain of Rs 108.2 or around 5.2%.

Overall, the S&P BSE SENSEX is up 21.9% over the year.

(To know more, check out historical annual results for ROLEX RINGS and quarterly results for ROLEX RINGS)