Rajesh Exports Ltd

Rajesh Exports Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Rajesh Exports Ltd

₹ 139 -3.61%
02 Mar - close price
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
The company is a gold refiner, manufacturer,, and exporter of gold products. It is the only company in the world with a presence across the entire gold value chain from refining to retailing, **processing 35% of gold produced worldwidedia.com/xml-data/corpfiling/AttachHis/4ede53b6-cf59-4f98-b184-bc3807d26740.pdf#page=77 #} [1]

Website BSE NSE - BZ
  • Market Cap ₹ 4,093 Cr.
  • Current Price ₹ 139
  • High / Low ₹ 239 / 137
  • Stock P/E 24.4
  • Book Value ₹ 562
  • Dividend Yield 0.00 %
  • ROCE 1.47 %
  • ROE 0.61 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Stock is trading at 0.25 times its book value
  • Company is expected to give good quarter

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Tax rate seems low
  • Company has a low return on equity of 4.23% 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

Consumer Discretionary Consumer Durables Consumer Durables Gems, Jewellery And Watches

Part of BSE Allcap BSE Consumer Discretionary Nifty500 LargeMidSmall Equal-Cap Weighted

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
94,474 115,448 85,689 38,066 65,477 91,445 60,356 66,924 96,630 199,190 131,542 175,212 235,098
94,025 115,046 85,354 38,016 65,465 91,609 60,318 66,847 96,564 199,203 131,500 175,036 234,985
Operating Profit 450 402 334 50 12 -164 37 77 67 -14 42 176 114
OPM % 0% 0% 0% 0% 0% -0% 0% 0% 0% -0% 0% 0% 0%
1 21 12 14 12 206 21 22 21 54 9 12 11
Interest 0 19 0 0 0 43 30 32 33 37 38 39 46
Depreciation 27 26 31 11 11 11 11 12 12 11 12 13 13
Profit before tax 423 377 315 53 13 -13 17 54 43 -8 2 137 65
Tax % 0% 3% 2% 14% 2% 142% 32% 16% 18% -123% 642% 24% -9%
422 366 309 45 12 -30 12 46 36 2 -10 104 71
EPS in Rs 14.28 12.40 10.48 1.53 0.42 -1.03 0.40 1.54 1.20 0.07 -0.32 3.52 2.42
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
29,197 50,463 165,179 242,132 187,686 175,763 195,600 258,306 243,128 339,690 280,676 423,099 741,042
28,414 49,196 163,452 240,382 185,802 173,967 194,051 257,182 241,949 338,054 280,348 422,932 740,723
Operating Profit 783 1,266 1,727 1,750 1,884 1,796 1,549 1,124 1,179 1,636 328 167 318
OPM % 3% 3% 1% 1% 1% 1% 1% 0% 0% 0% 0% 0% 0%
1 0 42 48 62 66 7 3 40 24 243 118 86
Interest 363 478 578 430 537 442 222 142 90 81 139 133 159
Depreciation 16 62 79 65 68 74 73 90 91 101 64 45 50
Profit before tax 404 726 1,112 1,303 1,342 1,346 1,261 894 1,038 1,478 368 107 196
Tax % 11% 10% 4% 5% 6% 4% 4% 5% 3% 3% 9% 11%
357 655 1,069 1,244 1,266 1,292 1,206 845 1,009 1,432 337 95 168
EPS in Rs 12.11 22.18 36.21 42.12 42.87 43.76 40.84 28.61 34.18 48.51 11.41 3.21 5.69
Dividend Payout % 8% 5% 3% 3% 2% 2% 2% 4% 3% 0% 0% 0%
Compounded Sales Growth
10 Years: 24%
5 Years: 17%
3 Years: 20%
TTM: 135%
Compounded Profit Growth
10 Years: -18%
5 Years: -40%
3 Years: -55%
TTM: 168%
Stock Price CAGR
10 Years: -15%
5 Years: -23%
3 Years: -40%
1 Year: -12%
Return on Equity
10 Years: 10%
5 Years: 6%
3 Years: 4%
Last Year: 1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 30 30 30 30 30 30 30 30 30 30 30 30 30
Reserves 2,713 3,332 4,362 5,606 7,145 8,811 10,504 11,192 12,416 14,694 15,217 15,652 16,553
3,118 3,842 4,594 5,552 8,717 6,198 1,278 1,021 815 723 655 923 879
5,378 8,877 11,956 12,943 7,643 13,803 18,916 11,230 10,655 7,428 6,170 12,768 19,907
Total Liabilities 11,238 16,081 20,941 24,131 23,535 28,841 30,728 23,473 23,916 22,875 22,072 29,372 37,369
168 264 1,287 1,199 1,289 1,452 1,521 1,447 1,449 2,038 2,071 1,340 1,494
CWIP 0 0 62 88 5 2 1 12 6 38 9 10 21
Investments 13 60 841 919 1,020 1,088 1,142 1,041 1,113 1,241 1,292 10,750 11,205
11,056 15,756 18,752 21,925 21,221 26,300 28,064 20,973 21,348 19,557 18,700 17,273 24,648
Total Assets 11,238 16,081 20,941 24,131 23,535 28,841 30,728 23,473 23,916 22,875 22,072 29,372 37,369

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-2,502 4,185 2,069 2,474 -2,870 3,482 2,572 -10,252 -4 457 140 7,738
-125 -204 -1,551 -224 -97 101 324 -54 86 10 70 -8,301
-4 211 138 528 2,596 -2,990 -5,172 -429 -326 -186 -33 188
Net Cash Flow -2,632 4,192 657 2,777 -371 594 -2,276 -10,735 -244 281 177 -376

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 30 22 11 8 8 13 17 15 16 11 15 4
Inventory Days 7 4 2 2 3 8 9 11 12 7 5 8
Days Payable 68 65 24 18 14 28 35 16 16 8 8 11
Cash Conversion Cycle -30 -39 -11 -9 -3 -7 -9 9 12 10 12 2
Working Capital Days -59 -61 -20 -16 -18 -18 -9 9 12 10 13 2
ROCE % 14% 18% 20% 17% 14% 12% 11% 9% 9% 11% 3% 1%

Insights

In beta
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Gold and Precious Metal Refining Capacity
Tons per annum

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Fixed Asset Turnover Ratio
Times
Gold Products Manufacturing Capacity
Tons per annum
Number of Shubh Jewellers Retail Showrooms
Number ・Standalone data
Sales Volume (Gold and Gold Products)
Metric Tons (MT)
Manufacturing Production Volume
Metric Tons (MT)
Refining Throughput
Metric Tons (MT)
Gold Wastage (Standalone)
Kilograms (Kgs) ・Standalone data
Product Design Portfolio
Number

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
54.05% 54.05% 54.05% 54.05% 54.55% 54.55% 54.55% 54.55% 54.55% 54.55% 54.55% 54.55%
17.67% 17.60% 16.50% 15.38% 15.78% 15.08% 14.72% 14.81% 14.70% 15.19% 14.94% 15.26%
11.27% 11.26% 11.16% 11.08% 11.07% 11.08% 11.12% 11.09% 11.12% 10.98% 10.95% 10.96%
17.00% 17.08% 18.29% 19.49% 18.60% 19.28% 19.61% 19.54% 19.63% 19.29% 19.56% 19.24%
No. of Shareholders 40,13140,74273,7751,52,9382,09,6232,13,5572,11,5472,11,9372,16,6432,14,9692,13,9082,06,942

* 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.

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Documents

Announcements

Annual reports

Credit ratings

Concalls

  • Feb 2019
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  • Nov 2017
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  • Aug 2017
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  • Feb 2017
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  • Jan 2017
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  • Jun 2016
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  • Feb 2016
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  • Nov 2015
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