Analysts/Institutional Investor Meet/Con. Call Updates

ROLEX RINGS LIMITED [CIN: L28910GJ2003PLC041991] Regd. Office:-BEHIND GLOWTECH STEEL PRIVATE LIMITED, GONDAL ROAD, KOTHARIA, RAJKOT Phone: (281) 2782577/2782677 Email: compliance@rolexrings.com website. www.rolexrings.com Ref. RolexRings/Reg30/AnalystMeeting/Nov26/2 06th November, 2026 To, To Corporate Relationship Department, National Stock Exchange of India Limited BSE Limited, Exchang e Plaza, C-1, Block G Phiroze JeeJeebhoy Towers, Dalal Street, Bandra Kurla Complex Mumbai-400001 Bandra (E), Mumbai – 400 051 Script Code: 543325 Script Symbol: ROLEXRINGS Sub: Intimation pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015-Transcripts of Earning Call Dear Sir/Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith Transcript of the discussion on the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026, at the Earnings Call held on Thursday, 05th November, 2026 and also the same is available on the website of the company at www.rolexrings.com Please take the same on your records Thanking You, Yours faithfully, For Rolex Rings Limited Hiren D. Doshi “Rolex Rings Limited Q2 & H1 FY27 Earnings Conference Call” November 05, 2026 MANAGEMENT: MR. MANESH MADEKA – CHAIRMAN AND MANAGING DIRECTOR – ROLEX RINGS LIMITED MR. HIREN DOSHI – CHIEF FINANCIAL OFFICER – ROLEX RINGS LIMITED SGA, INVESTOR RELATIONS ADVISORS – ROLEX RINGS LIMITED MODERATOR: MR. DHIRAL SHAH – PHILLIPCAPITAL PRIVATE CLIENT GROUP Page 1 of 18 Rolex Rings Limited November 05, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Rolex Rings Limited Q2 and H1 FY 2027 earnings conference call hosted by PhillipCapital Private Client Group. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touch-tone phone. Please note, this conference is being recorded. I now hand the conference over to Mr. Dhiral Shah from Phillip Capital Private Client Group. Thank you, and over to you, sir. Dhiral Shah: Yes, thank you, Nazneen. A very good morning, everyone. On behalf of PhillipCapital Private Client Group, I welcome you to the Q2 and H1 FY 2027 earning conference call of Rolex Rings Limited. Joining us today from the management, we have Mr. Manesh Madeka, Chairman and Managing Director, and Mr. Hiren Doshi, Chief Financial Officer of the company. We thank management for allowing us to host the earning conference call. I will now hand over the call to Mr. Hiren Doshi, sir, for his opening remarks. Following his address, we will open the floor for Q&A. Over to you, Hiren, sir. Hiren Doshi: Very good morning to all of you, and warm welcome to everyone on the call. Along with me, I have Mr. Manesh Madeka, CMD of the company. Would also like to thank PhillipCapital for arranging this con call, and Team SGA is also there with us, our Investor Relations Advisors. I hope you all have received our investor deck by now. When we spoke in August’26, we told you that the constraint in quarter one was execution, not the demand, and that in Q2 would reflect in the true strength of our order book. I am pleased to say that is how it has played out during the quarter two of fiscal 2027. Fiscal 2027 quarter two has been the strongest quarter in the history of the company, on revenue side, on margin side, on efficiency, and profitability. Coming to the Q2 FY27, revenue from the operations came in at INR389 crores, which is up by 43% year-on-year and 28% quarter-on-quarter. These numbers include a one-time benefit of around INR18-odd crores of customs duty, what we paid and accounted as a revenue from the U.S. tariff, which as we had already indicated on our earlier call that we are going to recognize in revenue. Excluding this revenue, our overall revenue grew about 32% year-on-year in Q2 FY27. The component sales, that is consisting of rings and auto component both, grew by 32% year-on- year to INR330 crores in this quarter two. Revenue from auto components grew by 68% year- on-year to INR177 crores, while revenue from the bearing rings grew 6% to INR153 crores. Auto components now contribute 54% of our overall sales compared to 42% in Q2 of previous fiscal. This shift towards higher value precision machine components remains the single biggest driver of our margin profile, and it is only auto components. As we explained in our earlier call, even in August 2026, wherever our products carry more value-added processes, including bearing rings for EV and hybrid applications and other critical rings, we earn similar kind of margins on both the segments. Page 2 of 18 Rolex Rings Limited November 05, 2026 Looking to the regional mix, exports grew by 55% year-on-year to INR167 crores and now account for 51% of component sales. Within auto components, exports grew by 89% to INR129 crores, while domestic auto components grew by 29% to INR48 crores. In bearing rings, our domestic business grew by almost 10%, reaching to INR115 crores, while bearing ring exports were broadly flat at INR38 crores, as industrial demand in Europe remains soft. Here, our strategy is to reduce dependency on single or couple of customer group by developing new bearing ring customers overseas, particularly in Europe and U.S., where we have already strong automotive relationships, and by approaching these plants of our existing customers that we do not yet supply till now. By geography, the U.S. was the standout in this particular quarter. Our U.S. component revenue more than doubled year-on-year to INR92 crores, as customers who had held back through FY 2026 returned with the meaningful volume. This includes a key customer whose volume fell by 35%-40% in fiscal 2026. As we indicated in August, that business is now back on track with its fiscal 2025 level. By end- user industry, passenger vehicles contribute almost 47% of our component sales in Q2 FY27. Commercial and heavy vehicles about 30%, industrial about 17% to 19%, and EV hybrid also consistent over there. Coming to the margin side, gross margin for the quarter has sharply increased, up by almost 700 basis points year-on-year, reflecting a richer product mix, disciplined raw material management, and the duty refund. EBITDA grew by 72% year-on-year to INR94 crores, with EBITDA margin at 24.2%, up by almost 400 basis points. Profit after tax grew by 68% to INR74 crores, with PAT margin of 19.1%, up 280 basis points. I want to be transparent about the moving parts. Excluding the refund, our EBITDA margin for the quarter would be around 21%. That was delivered in quarter where ocean rates ran nearly 3x compared to their normal levels. Fuel gas prices have gone up by 40%, and the other consumable cost rose following the escalation of West Asia conflict, which is why other expense were higher in this particular quarter. Our customer contracts pass through raw material and foreign exchange movements, but not freight, so a spike of these kind of sets with us in the first instance. We have absorbed most of this so far, and we are in active discussion with our customers, particularly in the U.S., on sharing of this freight burden. We have done this before when we had a Red Sea impact before three years back. During the last major freight spike, customers reimbursed part of the cost, and one customer changed its delivery terms for that period. The early response this time has been positive. One more input, that ocean freight, we are already observing decline from the month of October 2026. This decline, auto components continue to grow as a share of our mix. We expect operating margins to move back into our guided range of 21%-22%. Coming to the H1 FY27, comparing to the H1 FY26 of , for the H1 FY27, [Showing first 8,000 characters — download PDF for full document]