Rajesh Exports Ltd.

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rajeshindia.comBSE: 531500NSE: RAJESHEXPO

Market Cap₹ 2,343 Cr.

Current Price

High / Low₹ 238 / 73

Stock P/E13.9

Book Value₹ 586

Price to Book0.35

Dividend Yield0.00 %

ROCE1.5 %

ROE0.6 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Consumer Durables

Buy

Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.

Confidence

76%

View full sector analysis →

PROS

Company is almost debt free
Company has consistently been profitable over the last 5 years
Latest quarter profit grew 595.0% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 4.47x)
Company has delivered good sales growth of 16.7% CAGR over last 5 years

CONS

A large part of profit comes from other income (110.3% of PBT)
Company has a low return on capital employed of 5.2%
Company has a low return on equity of 4.5% over last 3 years
Interest coverage is weak at 1.8x - earnings barely cover interest
Company has delivered a poor profit growth of -39.9% over past five years
Total debt has risen sharply - up 41.0% year on year

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Consumer DurablesDiamond & JewelleryDiamond & Jewellery

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	TITAN	5010.00	77.22	444780.87	0.30	1777.00	62.88	21356.00	44.16	21.90	13.54
2.	KALYANKJIL	615.60	44.30	63576.15	0.41	348.67	32.03	10588.93	45.68	24.86	5.97
3.	LALITHAA	337.50	18.71	18890.21	0.00	2082.17	—	60312.32	—	43.11	6.18
4.	THANGAMAYL	5073.10	40.32	15768.22	0.35	85.09	86.15	2666.38	71.44	26.62	5.43
5.	PCJEWELLER	13.83	17.41	13487.20	0.00	221.88	37.02	877.04	20.99	9.68	27.54
6.	BLUESTONE	854.95	231.93	13061.82	0.00	59.61	271.56	7368.46	1395.59	9.24	14.50
7.	SKYGOLD	830.40	38.39	12860.73	0.00	104.90	140.67	2012.79	77.93	27.61	7.79
8.	AUGMONT	918.40	25.13	8391.74	0.00	—	—	—	—	70.86	—
9.	SENCO	350.05	10.05	5737.35	0.50	101.14	-3.35	3056.03	67.34	22.86	6.97
10.	GOLDIAM	328.15	23.43	4940.53	0.63	73.97	120.06	326.03	41.92	24.85	20.33
11.	VAIBHAVGBL	216.05	12.72	3624.66	2.78	56.38	49.83	917.07	12.70	18.41	10.55
12.	RAJESHEXPO	79.35	13.87	2342.89	0.00	471.92	5050.38	2403357.15	1727.07	1.47	0.02

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	85,689	38,066	65,477	91,445	60,356	66,924	96,630	1,99,190	1,31,542	1,75,212	2,35,098	2,36,864	2,40,336
	85,354	38,016	65,465	91,609	60,318	66,847	96,564	1,99,203	1,31,500	1,75,036	2,34,985	2,37,089	2,40,292
Operating Profit	334	50	12	-164	37	77	67	-14	42	176	114	-225	44
OPM %	0.39%	0.13%	0.02%	-0.18%	0.06%	0.11%	0.07%	-0.01%	0.03%	0.10%	0.05%	-0.09%	0.02%
	12	14	12	206	21	22	21	54	9	12	11	241	12
Interest	0	0	0	43	30	32	33	37	38	39	46	41	-1
Depreciation	31	11	11	11	11	12	12	11	12	13	13	14	15
Profit before Tax	315	53	13	-13	17	54	43	-8	2	137	65	-40	55
Tax %	1.82%	14.46%	1.97%	-141.85%	31.80%	16.20%	18.24%	123.32%	642.05%	24.06%	-9.16%	-34.09%	14.66%
Net Profit	0	0	0	0	12	46	36	2	-10	104	71	-53	47
	10.48	1.53	0.42	-1.02	0.40	1.54	1.20	0.07	-0.32	3.52	2.42	-1.81	1.59

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	1,65,179	2,42,132	1,87,686	1,75,763	1,95,600	2,58,306	2,43,128	3,39,690	2,80,676	4,23,099	8,87,510
	1,63,452	2,40,382	1,85,802	1,73,969	1,94,051	2,57,182	2,41,949	3,38,054	2,80,348	4,22,932	8,87,401
Operating Profit	1,727	1,750	1,884	1,794	1,549	1,124	1,179	1,636	328	167	109
OPM %	1.05%	0.72%	1.00%	1.02%	0.79%	0.44%	0.48%	0.48%	0.12%	0.04%	0.01%
	42	48	62	68	7	3	40	24	243	118	275
Interest	578	430	537	442	222	142	90	81	139	133	125
Depreciation	79	65	68	74	73	90	91	101	64	45	56
Profit before Tax	1,112	1,303	1,342	1,346	1,261	894	1,038	1,478	368	107	218
Tax %	3.88%	4.55%	5.66%	3.98%	4.39%	5.48%	2.81%	3.12%	8.53%	11.23%	22.34%
Net Profit	1,069	1,244	1,266	1,292	1,206	845	1,009	1,432	337	95	169
EPS	36.21	42.12	42.87	43.76	40.84	28.63	34.19	48.52	11.41	3.21	—
Dividend Payout %	2.77%	2.61%	2.33%	2.29%	2.45%	3.49%	2.93%	2.06%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 24%
5 Years:: 17%
3 Years:: 20%

COMPOUNDED PROFIT GROWTH

10 Years:: -18%
5 Years:: -40%
3 Years:: -55%

STOCK PRICE CAGR

10 Years:: -16%
5 Years:: -34%
3 Years:: -46%
1 Year:: -61%

RETURN ON EQUITY

10 Years:: 13%
5 Years:: 6%
3 Years:: 4%
Last Year:: 1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	30	30	30	30	30	30	30	30	30	30
Minority Interest	0	0	0	0	0	0	0	0	0	147
	4,754	5,855	7,145	8,811	10,504	11,192	12,416	14,694	15,217	15,652
	5,104	5,909	8,968	6,330	1,285	1,028	821	730	661	927
Trade Payables	10,853	12,145	7,163	13,467	18,687	11,018	10,421	7,157	5,920	12,418
	200	192	230	205	222	206	228	264	243	198
Total Liabilities	20,940	24,131	23,535	28,841	30,728	23,473	23,916	22,875	22,072	29,372
	1,287	1,199	1,289	1,452	1,521	1,447	1,449	2,038	2,071	1,340
Capital Work in Progress	62	88	5	2	1	12	6	38	9	10
	841	919	1,020	1,088	1,142	1,041	1,113	1,241	1,292	10,750
	993	1,163	1,722	3,937	4,774	7,407	7,669	6,049	4,205	9,626
	0	0	0	0	0	0	0	0	11,304	4,933
Cash & Bank	12,063	14,840	14,470	15,063	12,788	2,053	1,809	2,096	2,273	1,891
	5,696	5,922	5,029	7,299	10,502	11,513	11,870	11,412	917	823
Total Assets	20,940	24,131	23,535	28,841	30,728	23,473	23,916	22,875	22,072	29,372

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	2,157	2,563	-2,772	3,536	2,628	-10,203	25	493	140	7,738
Cash from Investing	-1,944	-81	-154	-301	-194	74	-158	-849	-116	-8,561
Cash from Financing	139	528	2,596	-2,990	-5,172	-429	-326	-186	-33	188
	264	2,921	-428	191	-2,793	-10,606	-489	-571	-10	-635

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Mar 2026	Jun 2026
	54.55	54.55	54.55	54.55	54.55	54.55	54.55	54.55	54.55
	15.08	14.72	14.81	14.70	15.19	14.94	15.26	14.26	12.61
	11.08	11.12	11.09	11.12	10.98	10.95	10.96	10.80	10.83
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	19.29	19.61	19.55	19.63	19.29	19.56	19.23	20.40	22.02

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-08

Clarification - Financial Results

2026-09-08 - The Exchange has sought clarification from Rajesh Exports Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.

2026-09-07

Change in Company Secretary/Compliance Officer

2026-09-07 - Rajesh Exports Limited has informed the Exchange about Change in Company Secretary/Compliance Officer

2026-08-31

Structural Digital Database

2026-08-31 - SDD Certificate for Quarter ended June 30, 2026

2026-08-14

Outcome of Board Meeting

2026-08-14 - Rajesh Exports Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-08-14

Outcome of Board Meeting

2026-08-14 - Rajesh Exports Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-27

News Verification

2026-07-27 - The Exchange has sought clarification from Rajesh Exports Limited with respect to recent news item captioned NFRA begins probe into Rajesh Exports over alleged financial misstatements. The response from the Company is attached.

2026-07-08

News Verification

2026-07-08 - The Exchange has sought clarification from Rajesh Exports Limited with respect to recent news item captioned NFRA begins probe into Rajesh Exports over alleged financial misstatements. The response from the Company is awaited.

2026-06-29

News Verification

2026-06-29 - The Exchange has sought clarification from Rajesh Exports Limited with respect to recent news item captioned ED searches Rajesh Exports in Bengaluru after SEBI order flags alleged financial misstatements: Sources. The response from the Company is attached.

2026-06-26

Rumour Verification - Regulation 30(11)

2026-06-26 - Rajesh Exports Limited has informed the Exchange about Rumour Verification - Regulation 30(11)

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