Rajesh Exports Ltd

₹ 324 1.65%

29 Apr 1:58 p.m.

rajeshindia.com BSE: 531500 NSE : RAJESHEXPO

About

Incorporated in 1989, Rajesh Exports Ltd is a manufacturer of Gold and Gold Products^[1]

Key Points

Business Overview:^[1]^[2]
Company is a gold refiner, manufacturer and exporter of Gold products. It is the only company in the world with presence across the entire value chain of Gold from refining to retailing, processing 35% of gold produced in the world. Company's manufacturing and R&D facilities are at Bangalore and the main refining facility is at Balerna, Switzerland. It has a design portfolio of 29000 active jewelry designs, selling them in wholesale and retail channels

Website BSE NSE

Market Cap ₹ 9,569 Cr.
Current Price ₹ 324
High / Low ₹ 669 / 259
Stock P/E 13.1
Book Value ₹ 516
Dividend Yield 0.30 %
ROCE 10.9 %
ROE 10.5 %
Face Value ₹ 1.00

Add ratio to table

Edit ratios

Pros

Company has reduced debt.
Company is almost debt free.
Stock is trading at 0.63 times its book value

Cons

Tax rate seems low
Company has a low return on equity of 9.06% over last 3 years.
Dividend payout has been low at 2.14% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Diamond, Gems and Jewellery Industry: Diamond Cutting / Jewellery

Edit Columns

Loading peers table ...

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	45,586	64,523	50,897	41,245	65,179	85,806	49,497	80,270	94,474	115,448	85,689	38,066	65,477
	45,323	64,196	50,596	40,916	64,862	85,666	49,192	79,852	94,025	115,066	85,354	38,016	65,465
Operating Profit	264	326	302	329	318	141	305	418	450	382	334	50	12
OPM %	1%	1%	1%	1%	0%	0%	1%	1%	0%	0%	0%	0%	0%
	1	1	0	1	0	38	1	1	1	21	12	14	12
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	30	23	22	33	13	23	23	24	27	26	31	11	11
Profit before tax	234	304	280	298	304	157	283	395	423	377	315	53	13
Tax %	3%	4%	0%	2%	1%	12%	4%	6%	0%	3%	2%	14%	2%
	228	293	278	291	300	139	272	373	422	366	309	45	12
EPS in Rs	7.71	9.92	9.43	9.87	10.17	4.69	9.20	12.63	14.28	12.40	10.48	1.53	0.42
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	31,226	29,197	50,463	165,179	242,132	187,686	175,763	195,600	258,306	243,128	339,690	304,679
	30,437	28,414	49,196	163,452	240,382	185,802	173,967	194,051	257,182	241,949	338,054	303,901
Operating Profit	789	783	1,266	1,727	1,750	1,884	1,796	1,549	1,124	1,179	1,636	778
OPM %	3%	3%	3%	1%	1%	1%	1%	1%	0%	0%	0%	0%
	3	1	0	42	48	62	66	7	3	40	24	59
Interest	300	363	478	578	430	537	442	222	142	90	81	0
Depreciation	2	16	62	79	65	68	74	73	90	91	101	79
Profit before tax	490	404	726	1,112	1,303	1,342	1,346	1,261	894	1,038	1,478	758
Tax %	8%	11%	10%	4%	5%	6%	4%	4%	5%	3%	3%
	453	357	655	1,069	1,244	1,266	1,292	1,206	845	1,009	1,432	733
EPS in Rs	15.33	12.11	22.18	36.21	42.12	42.87	43.76	40.84	28.61	34.18	48.51	24.83
Dividend Payout %	7%	8%	5%	3%	3%	2%	2%	2%	4%	3%	0%

Compounded Sales Growth
10 Years:	27%
5 Years:	13%
3 Years:	20%
TTM:	-2%

Compounded Profit Growth
10 Years:	12%
5 Years:	3%
3 Years:	6%
TTM:	-39%

Stock Price CAGR
10 Years:	11%
5 Years:	-14%
3 Years:	-15%
1 Year:	-43%

Return on Equity
10 Years:	14%
5 Years:	11%
3 Years:	9%
Last Year:	11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	30	30	30	30	30	30	30	30	30	30	30	30
Reserves	2,385	2,713	3,332	4,362	5,606	7,145	8,811	10,504	11,192	12,416	14,694	15,193
	2,729	3,118	3,842	4,594	5,552	8,717	6,198	1,278	1,021	815	723	627
	8,697	5,378	8,877	11,956	12,943	7,643	13,803	18,916	11,230	10,655	7,428	3,376
Total Liabilities	13,840	11,238	16,081	20,941	24,131	23,535	28,841	30,728	23,473	23,916	22,875	19,224
	69	168	264	1,287	1,199	1,289	1,452	1,521	1,447	1,449	2,038	2,023
CWIP	0	0	0	62	88	5	2	1	12	6	38	49
Investments	3	13	60	841	919	1,020	1,088	1,142	1,041	1,113	1,241	1,254
	13,767	11,056	15,756	18,752	21,925	21,221	26,300	28,064	20,973	21,348	19,557	15,898
Total Assets	13,840	11,238	16,081	20,941	24,131	23,535	28,841	30,728	23,473	23,916	22,875	19,224

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	2,849	-2,502	4,185	2,069	2,474	-2,870	3,482	2,572	-10,252	-4	463
	-1	-125	-204	-1,551	-224	-97	101	324	-54	86	10
	-857	-4	211	138	528	2,596	-2,990	-5,172	-429	-326	-186
Net Cash Flow	1,991	-2,632	4,192	657	2,777	-371	594	-2,276	-10,735	-244	288

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	27	30	22	11	8	8	13	17	15	16	11
Inventory Days	9	7	4	2	2	3	8	9	11	12	7
Days Payable	97	68	65	24	18	14	28	35	16	16	8
Cash Conversion Cycle	-60	-30	-39	-11	-9	-3	-7	-9	9	12	10
Working Capital Days	-56	-20	-33	-10	-8	-1	-5	-7	11	13	11
ROCE %		14%	18%	20%	17%	14%	12%	11%	9%	9%	11%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	54.05%	54.05%	54.05%	54.05%	54.05%	54.05%	54.05%	54.05%	54.05%	54.05%	54.55%	54.55%
	16.99%	16.80%	17.84%	17.72%	17.70%	17.62%	17.67%	17.60%	16.50%	15.38%	15.78%	15.08%
	9.64%	10.47%	11.45%	11.43%	11.39%	11.35%	11.27%	11.26%	11.16%	11.08%	11.07%	11.08%
	19.32%	18.68%	16.66%	16.80%	16.87%	16.97%	17.00%	17.08%	18.29%	19.49%	18.60%	19.28%
No. of Shareholders	41,900	42,236	36,406	42,341	45,107	46,725	40,131	40,742	73,775	1,52,938	2,09,623	2,13,557

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	53.94%	53.94%	54.03%	54.04%	54.05%	54.05%	54.05%	54.55%
	17.89%	17.84%	17.69%	17.75%	16.89%	17.72%	17.60%	15.08%
	2.59%	5.67%	6.70%	7.49%	9.14%	11.43%	11.26%	11.08%
	25.58%	22.55%	21.58%	20.72%	19.93%	16.80%	17.08%	19.28%
No. of Shareholders	30,779	26,637	24,814	22,472	46,038	42,341	40,742	2,13,557

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Announcements

All

Annual reports

Credit ratings

Concalls

Feb 2019

Transcript

Notes
PPT
Nov 2017

Transcript

Notes
PPT
Aug 2017

Transcript

Notes
PPT
Feb 2017

Transcript

Notes
PPT
Jan 2017

Transcript

Notes
PPT
Jun 2016

Transcript

Notes
PPT
Feb 2016

Transcript

Notes
PPT
Nov 2015

Transcript

Notes
PPT