RAJESHEXPO

Rajesh Exports Limited

Gold and diamond jewellery manufacturer and exporter

Consumer Discretionary›Consumer Durables›Consumer Durables›Gems, Jewellery And Watches

rajeshindia.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹58.77
Market cap
1,735 Cr
Stock P/E
12.9
P/B
0.10
Dividend yield
1.7%
ROE (FY26)
0.6%
ROCE (FY26)
1.8%
Operating margin (FY26)
0.0%
Debt / equity (FY26)
0.06

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Rajesh Exports manufactures and exports gold and diamond jewellery from its base in Bengaluru.

Company snapshot

23rdBy market cap

Ranked among 39 companies in Gems, Jewellery And Watches.

What we see

Positives
  • ✓Debt-to-equity of 0.06x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Net margin is very thin at 0.0% — little room for error if costs rise.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricDec 2022Mar 2023Jun 2023Sept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Jun 2025Dec 2025Jun 2026
Sales94,474 Cr1,15,448 Cr85,689 Cr38,066 Cr65,477 Cr91,445 Cr60,355 Cr66,924 Cr96,630 Cr1,31,542 Cr2,35,098 Cr1,318 Cr
Operating expenses (approx.)94,025 Cr1,15,066 Cr85,354 Cr38,016 Cr65,465 Cr91,609 Cr60,318 Cr66,847 Cr96,564 Cr1,31,500 Cr2,34,985 Cr1,311 Cr
EBITDA450 Cr382 Cr334 Cr50 Cr12 Cr-164 Cr37 Cr77 Cr67 Cr42 Cr114 Cr6 Cr
OPM %0.5%0.3%0.4%0.1%0.0%-0.2%0.1%0.1%0.1%0.0%0.0%0.5%
Other income0.96 Cr21 Cr12 Cr14 Cr12 Cr204 Cr21 Cr22 Cr21 Cr9 Cr11 Cr10 Cr
Interest0 Cr0 Cr0 Cr0 Cr0 Cr43 Cr30 Cr32 Cr33 Cr38 Cr46 Cr1 Cr
Depreciation27 Cr26 Cr31 Cr11 Cr11 Cr11 Cr11 Cr11 Cr12 Cr12 Cr13 Cr0.17 Cr
Profit before tax423 Cr377 Cr315 Cr53 Cr13 Cr-14 Cr17 Cr54 Cr43 Cr2 Cr65 Cr15 Cr
Tax %0.4%2.9%1.8%14.5%1.9%-128.7%31.8%16.2%18.2%641.4%-9.2%17.1%
Net profit422 Cr366 Cr309 Cr45 Cr12 Cr-32 Cr12 Cr46 Cr36 Cr-10 Cr71 Cr12 Cr
EPS (₹)₹14.28₹12.40₹10.48₹1.53₹0.42₹1.02₹0.40₹1.54₹1.20₹-0.32₹2.42₹0.42

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,42,132 Cr1,87,685 Cr1,75,763 Cr1,95,600 Cr2,58,313 Cr2,43,128 Cr3,39,690 Cr2,80,676 Cr4,23,099 Cr7,78,716 CrSign in free for the trailing twelve months
Operating expenses (approx.)2,40,381 Cr1,85,801 Cr1,73,969 Cr1,94,129 Cr2,57,331 Cr2,42,039 Cr3,38,135 Cr2,80,348 Cr4,22,932 Cr7,78,609 CrSign in free for the trailing twelve months
EBITDA1,751 Cr1,884 Cr1,794 Cr1,471 Cr982 Cr1,089 Cr1,555 Cr328 Cr167 Cr107 CrSign in free for the trailing twelve months
OPM %0.7%1.0%1.0%0.8%0.4%0.4%0.5%0.1%0.0%0.0%Sign in free for the trailing twelve months
Other income47 Cr62 Cr68 Cr7 Cr3 Cr40 Cr24 Cr242 Cr118 Cr273 CrSign in free for the trailing twelve months
Interest430 Cr537 Cr442 Cr0 Cr0 Cr0 Cr0 Cr139 Cr133 Cr163 CrSign in free for the trailing twelve months
Depreciation65 Cr68 Cr74 Cr73 Cr90 Cr91 Cr101 Cr64 Cr45 Cr52 CrSign in free for the trailing twelve months
Profit before tax1,303 Cr1,342 Cr1,346 Cr1,405 Cr894 Cr1,038 Cr1,478 Cr367 Cr107 Cr164 CrSign in free for the trailing twelve months
Tax %4.6%5.7%4.0%3.9%5.4%2.9%3.1%8.6%11.2%31.6%Sign in free for the trailing twelve months
Net profit1,244 Cr1,266 Cr1,292 Cr1,350 Cr846 Cr1,009 Cr1,432 Cr336 Cr95 Cr112 CrSign in free for the trailing twelve months
EPS (₹)₹42.12₹42.87₹43.77₹40.84₹28.65₹34.16₹48.52₹11.41₹3.21₹3.81Sign in free for the trailing twelve months
Dividend payout %————3.5%0.0%-0.9%0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital30 Cr30 Cr30 Cr30 Cr30 Cr30 Cr30 Cr30 Cr30 Cr30 Cr
Reserves5,855 Cr7,145 Cr0 Cr0 Cr0 Cr12,416 Cr14,694 Cr15,217 Cr15,652 Cr17,239 Cr
Borrowings5,552 Cr8,717 Cr———815 Cr730 Cr661 Cr927 Cr1,016 Cr
Other liabilities12,695 Cr7,643 Cr———10,655 Cr7,421 Cr6,164 Cr12,616 Cr22,460 Cr
Total liabilities24,131 Cr23,535 Cr———23,916 Cr22,875 Cr22,072 Cr29,372 Cr40,893 Cr
Fixed assets (net)583 Cr650 Cr———675 Cr1,192 Cr1,208 Cr445 Cr508 Cr
CWIP88 Cr5 Cr———6 Cr38 Cr9 Cr10 Cr4 Cr
Investments919 Cr1,020 Cr———1,113 Cr2,087 Cr59 Cr35 Cr11,797 Cr
Loans & advances——————379 Cr369 Cr283 Cr509 Cr
Inventories1,163 Cr1,722 Cr———7,669 Cr6,049 Cr4,205 Cr9,626 Cr17,746 Cr
Trade receivables5,020 Cr3,993 Cr———10,709 Cr10,356 Cr11,304 Cr4,933 Cr6,442 Cr
Cash & bank14,840 Cr14,470 Cr———740 Cr1,585 Cr1,597 Cr1,149 Cr1,731 Cr
Other assets1,518 Cr1,676 Cr———3,005 Cr1,189 Cr3,320 Cr12,893 Cr2,155 Cr
Total assets24,131 Cr23,535 Cr———23,916 Cr22,875 Cr22,072 Cr29,372 Cr40,893 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity2,474 Cr-2,870 Cr——-10,254 Cr1,129 Cr437 Cr316 Cr7,738 Cr372 Cr
Cash from investing-81 Cr-154 Cr——76 Cr-110 Cr0 Cr-118 Cr-8,561 Cr-1,088 Cr
Cash from financing528 Cr2,596 Cr——-429 Cr-238 Cr139 Cr-208 Cr188 Cr196 Cr
Net cash flow2,777 Cr-371 Cr——-10,735 Cr536 Cr288 Cr177 Cr-376 Cr724 Cr
Free cash flow (OCF − Capex)2,471 Cr-2,923 Cr——-10,254 Cr1,129 Cr437 Cr248 Cr6,688 Cr329 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %15.2%11.8%7.4%7.4%—7.8%9.6%3.2%1.4%1.8%
ROE %21.1%17.6%18.0%8.2%—8.1%9.7%2.2%0.6%0.6%
Debtor days882022—16111543
Inventory days2355—127588
Days payable18149297—1688010
Cash conversion cycle-9-3-66-71—121012131
OCF / EBITDA %n.m.n.m.——n.m.n.m.n.m.n.m.n.m.n.m.
OCF / EBITDA % (3 years)——————n.m.n.m.n.m.n.m.
Debt / equity0.941.220.000.000.000.070.050.040.060.06
Current ratio——————2.442.781.281.19
Net debt / EBITDA-5.31—0.000.000.00—-0.55-2.85-1.32-6.69