Rajesh Exports Ltd

Rajesh Exports Ltd

₹ 286 -2.02%
19 Apr - close price
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

  • Market Cap 8,455 Cr.
  • Current Price 286
  • High / Low 669 / 259
  • Stock P/E 11.5
  • Book Value 516
  • Dividend Yield 0.35 %
  • ROCE 10.9 %
  • ROE 10.5 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.56 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 2.83% 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.

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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% 2%
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: 10%
5 Years: -17%
3 Years: -17%
1 Year: -49%
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 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 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 41,90042,23636,40642,34145,10746,72540,13140,74273,7751,52,9382,09,6232,13,557

* 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.

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