Rajesh Exports Ltd

About [ edit ]

Rajesh Exports Ltd is headquartered in Bangalore and is involved in Extensive global manufacturing of gold and gold products and marketing network with distribution through Exports, Wholesale and directly to consumers by its own retail brand. It refines over 35% of world's gold. #

Key Points [ edit ]
  • Market Cap 15,063 Cr.
  • Current Price 510
  • High / Low 576 / 441
  • Stock P/E 18.3
  • Book Value 366
  • Dividend Yield 0.20 %
  • ROCE 11.0 %
  • ROE 12.4 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter

Cons

  • Tax rate seems low
  • Dividend payout has been low at 2.36% of profits over last 3 years
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
43,842 43,927 53,376 44,017 34,443 40,619 66,827 40,601 47,553 46,054 102,150 45,586
43,315 43,370 52,921 43,565 34,112 40,289 66,467 40,251 47,267 45,868 101,944 45,323
Operating Profit 527 557 455 452 331 330 361 350 285 186 206 264
OPM % 1% 1% 1% 1% 1% 1% 1% 1% 1% 0% 0% 1%
Other Income 32 21 15 9 22 4 1 1 2 0 1 1
Interest 153 147 106 113 75 -0 -0 -0 -0 -0 -0 -0
Depreciation 17 19 18 20 18 18 18 18 18 19 19 30
Profit before tax 388 412 346 328 260 316 343 333 269 168 188 234
Tax % 5% 3% 9% 4% -1% 4% 8% 5% -1% 9% 8% 3%
Net Profit 369 399 315 316 262 302 316 316 272 152 173 228
EPS in Rs 12.51 13.52 10.66 10.70 8.89 10.23 10.69 10.72 9.20 5.15 5.86 7.71

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 TTM
31,226 29,197 50,463 165,179 242,132 187,686 175,763 195,600 241,343
30,437 28,414 49,196 163,452 240,382 185,802 173,967 194,051 240,402
Operating Profit 789 783 1,266 1,727 1,750 1,884 1,796 1,549 941
OPM % 3% 3% 3% 1% 1% 1% 1% 1% 0%
Other Income 3 1 0 42 48 62 66 7 4
Interest 300 363 478 578 430 537 442 222 0
Depreciation 2 16 62 79 65 68 74 73 86
Profit before tax 490 404 726 1,112 1,303 1,342 1,346 1,261 859
Tax % 8% 11% 10% 4% 5% 6% 4% 4%
Net Profit 453 357 655 1,069 1,244 1,266 1,292 1,206 824
EPS in Rs 15.33 12.11 22.18 36.21 42.12 42.87 43.76 40.84 27.92
Dividend Payout % 7% 8% 5% 3% 3% 2% 2% 2%
Compounded Sales Growth
10 Years:%
5 Years:31%
3 Years:-7%
TTM:32%
Compounded Profit Growth
10 Years:%
5 Years:13%
3 Years:-1%
TTM:-31%
Stock Price CAGR
10 Years:19%
5 Years:-2%
3 Years:-7%
1 Year:-3%
Return on Equity
10 Years:%
5 Years:18%
3 Years:16%
Last Year:12%

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 Sep 2020
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 10,783
Borrowings 2,729 3,118 3,842 4,594 5,552 8,717 6,198 1,278 888
8,697 5,378 8,877 11,956 12,943 7,643 13,803 18,916 7,665
Total Liabilities 13,840 11,238 16,081 20,941 24,131 23,535 28,841 30,728 19,365
69 168 264 1,287 1,199 1,289 1,452 1,521 1,515
CWIP 0 0 0 62 88 5 2 1 2
Investments 3 13 60 841 919 1,020 1,088 1,142 1,095
13,767 11,056 15,756 18,752 21,925 21,221 26,300 28,064 16,753
Total Assets 13,840 11,238 16,081 20,941 24,131 23,535 28,841 30,728 19,365

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
2,849 -2,502 4,185 2,069 2,474 -2,870 3,482 2,572
-1 -125 -204 -1,551 -224 -97 101 324
-857 -4 211 138 528 2,596 -2,990 -5,172
Net Cash Flow 1,991 -2,632 4,192 657 2,777 -371 594 -2,276

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 14% 18% 21% 17% 14% 12% 11%
Debtor Days 27 30 22 11 8 8 13 17
Inventory Turnover 41.84 85.91 209.05 222.71 128.50 61.30 44.43

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
54.03 54.03 54.03 54.03 54.03 54.03 54.03 54.04 54.05 54.05 54.05 54.05
17.85 18.62 17.84 17.69 17.62 17.62 17.52 17.75 17.40 17.15 17.01 16.89
5.62 5.55 6.38 6.70 6.90 7.15 7.47 7.49 7.48 7.45 7.45 9.14
22.50 21.80 21.75 21.58 21.45 21.20 20.98 20.72 21.08 21.36 21.50 19.93

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