Sep 30, 2022 04:01 PM
Apparels & Accessories firm Rajesh Exports announced Q1FY23 Result :
Mr Rajesh Mehta, Chairman, Rajesh Exports Ltd. said, “The Company has posted an EBIDTA of Rs. 2945.93 Million in the first quarter of the year. The Revenues have also been good for the first quarter at Rs. 494970.77 Million. The Company is back on the growth trajectory after the pandemic quarters and we expect good quarters during the remaining period of the year”
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Rajesh Exports Ltd. is an Indian multinational gold retailer engaged in refining, designing, and selling gold and jewellery. It is claimed to be the world’s only company involved at every stage of the gold’s value chain, from refining to retailing. The company was founded in 1989, with its headquarters in Bangalore. Rajesh Exports Ltd. posted a total income of Rs 49,498.14 crore in the June 2022 quarter. It was down 42.34% from the previous quarter that ended in March 2022. On 30 August 2022, the company’s market capitalisation stood at Rs 17,393 crore.
The company is listed on the Bombay Stock Exchange with the code 531500, and on the National Stock Exchange with the code RAJESHEXPO.
Rajesh Exports Ltd. is one of the world’s largest processors of gold. As per its website, in 2022, it processed 35% of the world’s gold production. It is also India’s largest exporter of gold products and the world’s lowest-cost producer of gold jewellery. In 2019, the company won the Export Excellence Award from FKCCI.
On 30 June 2022, the company’s shareholding pattern reflected a 17.7% foreign institutional investor stake, 11.39% domestic institutional investor stake, 54.05% promoter stake, and 16.86% public stake. Mr Rajesh Jasvantrai Mehta is the leading promoter with a 29.97% share, followed by Mr Prashant Jasvantrai Mehta with a 12.59% share. In the June 2022 quarter, mutual fund holdings increased from 0.03% to 0.05%, while FII holdings decreased from 17.72% to 17.70%.
The company’s leadership team comprises Mr Rajesh Mehta, Mr Prashanth Mehta, Mr Prashant Harjivandas Sagar, Mr Joseph T D, Mr Vijendra Rao, Ms Asha Mehta, and Ms Vijaya Lakshmi. The auditors are P V Ramana Reddy & Co. The company’s total outstanding shares on 30 June 2022 were 29.53 crores.
On 30 August 2022, Rajesh Exports Ltd.’s share price closed at Rs 590.85 on BSE. It closed at Rs 589.10 on NSE. The 52-week high for Rajesh Exports Ltd.’s share price was Rs 994.70, and the 52-week low for the company’s share price was Rs 518.50. Rajesh Exports Ltd.’s share gave its investors a one-year return of 1.22%.
The company’s peers include Titan Company Ltd., Kalyan Jewellers India Ltd., Vaibhav Global Ltd., and PC Jeweller Ltd.
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