Rajesh Exports Ltd Stock Analysis

BSE: 531500 | NSE: RAJESHEXPO | Diamond & Jewellery | Mid Cap

BSE Share Price May 23, 18:01
566.60 -6.00 (-1.05%)

DeciZen - Make an Informed Decision on Rajesh Exports

Overall Rating

1. Quality

2. Valuation

Fair

3. Price Trend

FAQs

1. Is Rajesh Exports Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Rajesh Exports Ltd is a below average quality company.

2. Is Rajesh Exports Ltd undervalued or overvalued?

The key valuation ratios of Rajesh Exports Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Rajesh Exports Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Rajesh Exports Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Rajesh Exports:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Rajesh Exports Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
ROCE % 14.3%12.8%8.6%9%9.6%8.4%6.8%5.7%6.7%3.4%-
Value Creation Index 0.0-0.1-0.4-0.4-0.2-0.4-0.4-0.6-0.5-0.8-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 25,65431,22623,53737,91938,58644,94833,66042,67146,8992,0605,709
YoY Gr. Rt. %-21.7%-24.6%61.1%1.8%16.5%-25.1%26.8%9.9%-95.6%-
Adj EPS 1415.37.78.916.115.614.91513.73.46
YoY Gr. Rt. %-9.7%-49.8%16.3%80.1%-2.9%-4.5%0.5%-9%-75.5%-
BVPS (₹) 67.581.888.596.2111.1126.7140.6154.5167.2169.6174.5
Adj Net Profit 41245322726447546244144340398.8178
Cash Flow from Ops. -2942,849-2,6293,7887221,596-2,8553,7283,924-10,147-
Debt/CF from Ops. -11.11-1.216.23.4-31.60.2-0.1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -24.4%-44.4%-60.6%-95.6%
Adj EPS -14.7%-27%-39.3%-75.5%
BVPS 10.88.86.51.4
Share Price 15% -2.7% -4.9% 10.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity % 2320.599.715.513.211.210.28.523.5
Op. Profit Mgn % 2.42.52.6221.82.61.71.411.73.2
Net Profit Mgn % 1.61.510.71.211.310.94.83.1
Debt to Equity 1.61.11.21.41.41.52.11.30.20.1-
Working Cap Days 4847603852546641339320
Cash Conv. Cycle -51-48-60-38-61-64-71-52-65-1,0210

Recent Performance Summary

Debt to equity has declined versus last 3 years average to 0.14

Sales growth is good in last 4 quarters at 322.99%

Return on Equity has declined versus last 3 years average to 3.50%

Sales growth has been subdued in last 3 years -60.59%

Net Profit has been subdued in last 3 years -39.25%

Latest Financials - Rajesh Exports Ltd.

Standalone Consolidated
TTM EPS (₹) 6 39.4
TTM Sales (₹ Cr.) 5,709 2,21,844
BVPS (₹.) 174.5 412.1
Reserves (₹ Cr.) 5,123 12,137
P/BV 3.28 1.39
PE 94.94 14.54
From the Market
52 Week Low / High (₹) 514.00 / 994.50
All Time Low / High (₹) 1.70 / 994.50
Market Cap (₹ Cr.) 16,907
Equity (₹ Cr.) 29.5
Face Value (₹) 1
Industry PE 77.1

Management X-Ray of Rajesh Exports :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

Analyst's Notes

News

About Rajesh Exports Ltd

Rajesh Exports (REL) was incorporated in 1989. The company is a global leader in the Gold business. The company’s headquartered is in Bangalore, India with operations spread across the world. The only company in the world with presence across the entire value chain of Gold from refining to retailing. The company is among the largest processor of gold in the world. It is also one of the largest exporter of gold products from India. The company is among the lowest cost gold jewellery producer in the world. The company has world's finest gold products manufacturing and R&D facilities at various places, main facility being at Bangalore, India and the main refining facility being at Balerna, Switzerland. The company has extensive marketing network covering entire India and the major gold markets of the world. The company has one of the world's largest active jewellery design database. REL has developed several innovative technologies and processes in the manufacture of Jewellery. REL is a professionally managed company committed to the highest standards of corporate governance. The securities of REL are listed and traded in India on the NSE and BSE. REL securities are widely held, with some of the world's top institutions being the shareholders.

Business area of the company

The company is the largest Manufacturer of gold products in the world. The Company is also the largest refiner of gold in the world. The company exports its products to various countries around the world and also supplies its products in wholesale market and jewellery showrooms across India. It is the only Company with a presence across the value chain of gold from mining till its own retail brand. Rajesh Exports has set up many retail jewellery showrooms under the brand name of SHUBH Jewellers. SHUBH Jewellers is one of the most trusted household jewellery brand name in South India and is known for quality, designs and value for money prices of it products.

Subsidiaries of the company

  • REL Singapore Pte. Ltd.

Awards

2019

  • Export Excellence Awards - 2019, Star Exporter Award-Merchant Gold, from FKCCI

2017

  • SWARNA RATNA AWARD by Jewellers Association, Bangalore STAR EXPORT AWARD

2016

  • EXPORT EXCELLENCE AWARD 2015-2016 by FIEO (Federation of Indian Export Organisations) for ‘best & brightest’ entrepreneurs and INDUSTRY ACHIEVEMENT AWARD 2016

2014

  • Rajesh Exports awarded the Swarna Ratna Award by The Jewellers Association.

2013

  • Rajesh Exports awarded the Special Recognition Certificate in Export Excellence Awards by Federation of Karnataka Chambers of Commerce & Industry.
  • Rajesh Exports awarded for the Highest Jewellery Exports From Kerala by Kerala Gem and Jewellery Show.
  • Rajesh Exports awarded the Swarna Ratna Award by The Jewellers Association.

2012

  • Rajesh Mehta was conferred the Jain Bhushan Award, by Jain Social Groups International Federation.
  • Rajesh Exports awarded for Export Excellence by The Jewellers Association.

2011

  • Rajesh Exports awarded Special Recognition Certificate by Federation of Karnataka Chambers of Commerce and Industry.

2010

  • Rajesh Exports awarded the Star Exporter Award (Manufacturer Category) from Federation of Karnataka Chambers of Commerce & Industry.
  • Prashant Mehta was conferred the Rotary Business Trend Setter, by Rotary Bangalore Peenya.
  • Rajesh Exports awarded the Excellence Award by State Bank of India.
  • Rajesh Exports awarded for Excellence in Exports by The Jewellers Association.

2009

  • Rajesh Exports awarded the State Export Excellence Award by Government of Karnataka.
  • Rajesh Exports awarded for Best Manufacturer Exporter by Federation of Karnataka Chambers of Commerce and Industry.
  • Rajesh Exports awarded for best SEZ in India by Export Promotion Council for EOUs and SEZ's.

2008

  • Rajesh Exports awarded the Star Exporter Award (Manufacturer Category) by Federation of Karnataka Chambers of Commerce & Industry.
  • Rajesh Exports awarded the State Export Excellence Award by Government of Karnataka.
  • Rajesh Mehta was conferred the Jeweller of the Year by Expoworld and The Jewellers Association.
  • Rajesh Exports awarded 1st Place in The Export Excellence Awards by The Jewellers Association.
  • Rajesh Exports awarded for best EOU in India by Export Promotion Council for EOUs and SEZ's.

2007

  • Rajesh Exports awarded the Star Exporter Award (Manufacturer Category) by Federation of Karnataka Chambers of Commerce & Industry.
  • Rajesh Exports awarded 1st Place in The Export Excellence Awards by The Jewellers Association.
  • Rajesh Mehta was conferred the Jeweller of the Year by The Jewellers Association.
  • Rajesh Exports awarded the State Export Excellence Award by Government of Karnataka.
  • Rajesh Exports awarded for Overall Excellence in Plain Gold Jewellery by The Gem and Jewellery Export Promotion Council.

2006

  • Rajesh Exports awarded the Export Execellence Award by Federation of Karnataka Chambers of Commerce and Industry.
  • Rajesh Exports ranked 1st in Dun & Bradstreet's India's Top 500 Companies 2006 (Gems and Jewellery Segment).
  • Rajesh Exports awarded Niryat Shree Bronze Trophy by Federation of Indian Export Organisations (Gems & Jewellery).
  • Rajesh Exports awarded Niryat Shree Silver Trophy by Federation of Indian Export Organisations (Highest Foreign Exchange Earner).
  • Rajesh Exports awarded for Overall Excellence in Plain Gold Jewellery by The Gem and Jewellery Export Promotion Council.
  • Rajesh Exports awarded for Overall Excellence in Plain Precious Metal Jewellery by The Gem and Jewellery Export Promotion Council.
  • Rajesh Exports awarded the State Export Excellence Award by Government of Karnataka.

2005

  • SWARNA RATNA AWARD by Jewellers Association, Bangalore
  • Rajesh Exports awarded 1st Place in The Export Appreciation Awards by The Jewellers Association.
  • Rajesh Exports awarded Niryat Shree Gold Trophy by Federation of Indian Export Organisations (Gems & Jewellery).
  • Rajesh Exports awarded for Overall Excellence in Plain Gold Jewellery by The Gem and Jewellery Export Promotion Council.

2004

  • Rajesh Exports awarded the Certificate of Merit for standing first in Plain Precious Metal Jewellery Exports by The Gem and jewellery Export Promotion Council.
  • Rajesh Exports awarded 1st Place in The Export Excellence Awards by The Jewellers Association.
  • Rajesh Exports awarded State Award for Excellence in Exports by Government of Karnataka.

2003

  • Rajesh Exports awarded 1st Place in The Export Excellence Awards by The Jewellers Association.

2002

  • Rajesh Exports awarded for Outstanding Export Performance of Plain Gold Jewellery by The Gem and Jewellery Export Promotion Council.
  • Rajesh Exports awarded for Export Excellence by The Jewellers Association.

2001

  • Rajesh Exports awarded the Certificate of Merit for standing third in Plain Gold Jewellery Exports by The Gem and jewellery Export Promotion Council.
  • Rajesh Exports awarded for Export Excellence by The Jewellers Association.

1999

  • Rajesh Exports awarded for Outstanding Export Performance of Studded Gold Jewellery by The Gem and Jewellery Export Promotion Council.

1998

  • Rajesh Exports awarded for Outstanding Export Performance of Plain Gold Jewellery by The Gem and Jewellery Export Promotion Council.

1997

  • Rajesh Exports awarded for Outstanding Export Performance of Plain Gold Jewellery by The Gem and Jewellery Export Promotion Council.

1996

  • Rajesh Exports awarded State Award for Excellence in Exports by Government of Karnataka.
  • Rajesh Exports awarded for Outstanding Export Performance of Studded Gold Jewellery by The Gem and Jewellery Export Promotion Council.
  • Rajesh Exports awarded for Excellence in Exports by Canara Bank 
  • Rajesh Exports awarded for Outstanding Export Performance of Plain Gold Jewellery by The Gem and Jewellery Export Promotion Council.

1995

  • Rajesh Exports awarded for Outstanding Export Performance of Studded Gold Jewellery by The Gem and Jewellery Export Promotion Council.
  • Rajesh Exports awarded the Export Excellence award for Highest Exports by The Jewellers Association.
  • Rajesh Exports awarded for Excellence in Exports by Canara Bank
  • Rajesh Exports awarded the State Export Excellence Award by Government of Karnataka.

Milestones

  • 1988: Brothers Rajesh Mehta and Prashanth Mehta joined family retail business.
  • 1990: Established the first organized gold jewellery manufacturing facility in India.
  • 1991: Established India's first R&D facility in the jewellery sector.
  • 1994: Emerged as the largest exporter and wholesaler of gold jewellery in India.
  • 1995: Initial Public Offer (IPO) of securities to fund expansion of manufacturing facility.
  • 1995: IPO overwhelmingly subscribed and REL securities listed and traded on the BSE and NSE.
  • 1996: Successfully implemented the expansion plan.
  • 1999: Plans to set up world's largest manufacturing facility.
  • 2002: Completed the construction of the World's Largest manufacturing facility.
  • 2003: Begins commercial production in the World’s largest manufacturing facility.
  • 2006: Sales of over $1 Billion.
  • 2010: Sales of over $4 Billion.
  • 2012: Launched the retail Gold Revolution in the state of Karnataka through SHUBH Jewellers.
  • 2012: Established branded retail chain stores under the name of ‘SHUBH Jewellers’.
  • 2013: Established India’s largest Gold refinery in the state of Uttaranchal, thereby becoming the only player across the value chain of gold in the World.
  • 2014: Launched 80 SHUBH Jewellers showrooms in the state of Karnataka.
  • 2015: Acquired the world's largest gold refinery, Valcambi.
  • 2015: Sales of over $8 Billion.
  • 2016: Sales of over $24 Billion.
  • 2016: Launched 81 Jewellery Showroom in the state of Karnataka
  • 2019: Launched 82nd Jewellery Showroom in the state of Karnataka
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