`Rolex Industries started its business under the partnership firm by two of its Promoters, Rupesh Dayashankar Madeka and Manesh Dayashankar Madeka in 1977-1978. The partnership deed was executed at Rajkot on April 26, 1988 and Jiten Dayashankar Madeka was admitted as partner in Rolex Industries. Further, on October 10, 1989, Ashok Dayashankar Madeka and Pinakin Dayashankar Madeka were admitted as partners in Rolex Industries and on December 31, 2002, Bhautik Dayashankar Madeka, Paresh Dayashankar Madeka, Mihir Rupeshkumar Madeka, Hemal Paresh Madeka and Sanjay Bhagwanji Bole were admitted as partners in Rolex Industries.
The partnership firm was, thereafter, converted into a joint stock company under the Companies Act, 1956, in the name of `Rolex Rings Private Limited`, and a certificate of incorporation dated February 13, 2003, was issued by the RoC. The name of the Company was further changed to Rolex Rings Limited upon conversion to a public limited company pursuant to the special resolution dated February 19, 2021 passed by the Shareholders of the Company and consequently a fresh certificate of incorporation was issued by the RoC on March 10, 2021, recording the change of Company`s name to `Rolex Rings Limited`.
Presently, the company is engaged in manufacturing and selling of hot rolled forged & machined bearing rings and automotive components. The product portfolio of the company includes bearing rings, parts of gear box and automotive components, among others. Its manufacturing capabilities are complemented by tool design, engineering and product development capabilities. Till date, the company has offered a diverse range of hot forged and machined alloy steel bearing rings weighing from 0.01 kilograms to over 163 kilograms, and with inner diameter of 25 millimeters to outer diameter of 900 millimeters. This makes the products suitable for a wide range of end-user industries such as automotive, railways, industrial infrastructure, renewable energy, among others.
In the year 1988, the company started manufacturing operations of forging and forged products and set up its first plant in Rajkot.
In the year 989, the company obtained Importer-Exporter code for export of business.
In the year 1991, the company commissioned license to work a factory for Unit -I.
In FY 2003, the company purchased Sakamura model HBP-160.
In FY 2007, it purchased 6 Manyo 600 tons Auto Forging Press and made investments by Rivendell PE LLC. During the same year, the company purchased Hatebur Hotmatic - HM75XL Hot Former and Sakamura Model HBP - 120SS. It availed registration of central excise for Unit 2.
In FY 2010, the company purchased SMS MEER Ring Rolling line.
In FY 2011, the company purchased Hatebur-Hotmatic@ HM 35 Machine.
In FY 2014, the company set up a license to work a factory for Unit-3.
In FY 2017, the company purchased Sakamura Model: HFW-1000-4 Hot Former.
In FY 2018, the company purchased Servomoto Driven Screw Press 16000kN from Enomoto Machine Co. Limited.
In FY 2021, the company supplied bearing rings and automotive components to over 60 customers in 17 countries, primarily located in India, United States of America and in European countries such as Germany, France, Italy, and Czech Republic, and Thailand.
The company received awards from customers in relation to `Excellence in Technology` and `Excellence in Cost and Productivity` from Timken in 2011. It received `GM Supplier Quality Excellence Award` and got the `Certificate of Supplier Quality` for fulfilling the quality assurance compliance by Hyundai Motors India Ltd. in 2014. The company was awarded ``Excellence in Technology Advancement` by Timken powered by VRIDDHI in 2016. The company received awards from customers in relation to products, such as ` Supplier Quality Excellence Award` from General Motors in 2018 and 2019 and `Excellence in New Product Development` from Timken in 2018. Besides, it also received various certifications, demonstrating the dedication and commitment to quality and service excellence. The Company has recently received `Q1 Preferred Quality Status` award in May 2021 from Ford.
Further, it is in the process of renewing its IATF 16949 (International Standard for Automotive Quality Management Systems) and ISO 9001 (International Standard for Quality Management Systems) certifications which pertains to quality management systems and such renewal has been recommended by TUV NORD - Germany.