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Rajesh Exports

₹297 -6.9 | 2.3%

Market Cap ₹8769 Cr.

Stock P/E 12.0

P/B 0.6

Current Price ₹297

Book Value ₹ 516

Face Value 1

52W High ₹669

Dividend Yield 0.34%

52W Low ₹ 259.3

Rajesh Exports Research see more...

Overview Inc. Year: 1995Industry: Diamond & Jewellery

Rajesh Exports Ltd is engaged inside the commercial enterprise of gold and gold merchandise. The Company is engaged in gold refining and production of numerous types of gold merchandise. It is engaged in generating hand made jewellery, casting jewellery, machine chains, stamped jewellery, studded jewellery, tube jewellery, and electro-fashioned jewellery. The Company sells gold and diamond jewellery in retail through its branded retail jewellery chain shops under the brand name of SHUBH Jewellers. Its gold products manufacturing and R&D centers are in Bangalore, Cochin, and Dubai, and the refining facility is at Balerna, Switzerland. It exports its merchandise to various international locations and sells its merchandise wholesale and retail.

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Rajesh Exports Share Price

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Quarterly Price

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Rajesh Exports Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 41245 65179 85806 49497 80270 94474 115448 85689 38066 65477
Other Income 1 0 38 1 1 1 21 12 14 12
Total Income 41246 65180 85845 49498 80271 94475 115469 85701 38079 65489
Total Expenditure 40916 64862 85666 49192 79852 94025 115066 85354 38016 65465
Operating Profit 331 318 179 306 419 451 403 346 64 24
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 33 13 23 23 24 27 26 31 11 11
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 298 304 157 283 395 423 377 315 53 13
Provision for Tax 6 4 18 12 22 2 11 6 8 0
Profit After Tax 291 300 139 272 373 422 366 309 45 12
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 291 300 139 272 373 422 366 309 45 12
Adjusted Earnings Per Share 9.9 10.2 4.7 9.2 12.6 14.3 12.4 10.5 1.5 0.4

Rajesh Exports Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 31226 29197 50463 165179 242132 187686 175763 195600 258306 243128 339690 304680
Other Income 3 1 0 42 48 62 68 7 3 40 24 59
Total Income 31229 29198 50463 165220 242180 187748 175831 195607 258308 243168 339714 304738
Total Expenditure 30437 28414 49196 163452 240382 185802 173969 194051 257182 241949 338054 303901
Operating Profit 791 784 1267 1769 1798 1946 1862 1556 1127 1219 1660 837
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
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 490 404 726 1112 1303 1342 1346 1261 894 1038 1478 758
Provision for Tax 37 46 71 43 59 76 54 55 49 29 46 25
Profit After Tax 453 357 655 1069 1244 1266 1292 1206 845 1009 1432 732
Adjustments 0 0 4 -4 1 -0 -0 0 0 0 0 0
Profit After Adjustments 453 357 659 1065 1244 1266 1292 1206 845 1009 1433 732
Adjusted Earnings Per Share 15.3 12.1 22.3 36.1 42.1 42.9 43.8 40.8 28.6 34.2 48.5 24.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 40% 20% 13% 27%
Operating Profit CAGR 36% 2% -3% 8%
PAT CAGR 42% 6% 2% 12%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -50% -17% -15% 8%
ROE Average 11% 9% 11% 16%
ROCE Average 11% 9% 10% 14%

Rajesh Exports Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 2415 2742 3362 4783 5884 7175 8840 10534 11221 12446 14724
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 8 8 7 509 475 332 220 107 92 81 112
Total Current Liabilities 11417 8487 12711 15648 17771 16029 19781 20087 12160 11389 8039
Total Liabilities 13839 11237 16080 20940 24131 23535 28841 30728 23473 23916 22875
Fixed Assets 69 168 264 1287 1199 1289 1452 1521 1447 1449 2038
Other Non-Current Assets 4 55 102 971 1058 1075 1149 1203 1110 1176 1339
Total Current Assets 13766 11014 15714 18683 21875 21171 26240 28003 20916 21290 19498
Total Assets 13839 11237 16080 20940 24131 23535 28841 30728 23473 23916 22875

Rajesh Exports Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 7855 9846 7214 11406 12063 14840 14470 15063 12788 2053 1809
Cash Flow from Operating Activities 2849 -2502 4185 2069 2474 -2870 3482 2572 -10252 -4 463
Cash Flow from Investing Activities -1 -125 -204 -1944 -81 -154 -301 -194 74 -158 -849
Cash Flow from Financing Activities -857 -4 211 139 528 2596 -2990 -5172 -429 -326 -186
Net Cash Inflow / Outflow 1991 -2632 4192 264 2921 -428 191 -2793 -10606 -489 -571
Closing Cash & Cash Equivalent 9846 7214 11406 12063 14840 14470 15063 12788 2053 1809 2096

Rajesh Exports Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 15.33 12.11 22.32 36.07 42.14 42.87 43.76 40.84 28.63 34.19 48.52
CEPS(Rs) 15.4 12.66 24.29 38.88 44.31 45.18 46.28 43.3 31.68 37.26 51.92
DPS(Rs) 1 1 1 1 1.1 1 1 1 1 1 1
Book NAV/Share(Rs) 81.78 92.88 113.85 162 199.29 242.99 299.4 356.77 380.05 421.52 498.67
Core EBITDA Margin(%) 2.53 2.68 2.51 1.05 0.72 1 1.02 0.79 0.44 0.48 0.48
EBIT Margin(%) 2.53 2.63 2.39 1.02 0.72 1 1.02 0.76 0.4 0.46 0.46
Pre Tax Margin(%) 1.57 1.38 1.44 0.67 0.54 0.71 0.77 0.64 0.35 0.43 0.44
PAT Margin (%) 1.45 1.22 1.3 0.65 0.51 0.67 0.74 0.62 0.33 0.42 0.42
Cash Profit Margin (%) 1.46 1.28 1.42 0.7 0.54 0.71 0.78 0.65 0.36 0.45 0.45
ROA(%) 3.27 2.85 4.79 5.78 5.52 5.31 4.93 4.05 3.12 4.26 6.12
ROE(%) 18.74 13.86 21.46 26.25 23.32 19.39 16.14 12.45 7.77 8.53 10.54
ROCE(%) 15.34 13.95 18.44 20.38 16.65 13.75 11.56 11.05 8.62 8.85 10.86
Receivable days 27.22 29.65 19.55 8.71 7.47 8.76 10.53 14.43 13.9 15.81 11.32
Inventory Days 9.06 8.42 4.12 1.72 1.62 2.81 5.88 8.13 8.61 11.32 7.37
Payable days 96.62 85.94 52.06 21.93 17.49 19.01 21.71 30.32 21.11 16.2 9.5
PER(x) 8 7.37 8.79 17.21 14.38 17.13 15.22 13.28 16.72 20.2 12.56
Price/Book(x) 1.5 0.96 1.72 3.83 3.04 3.02 2.22 1.52 1.26 1.64 1.22
Dividend Yield(%) 0.82 1.12 0.51 0.16 0.18 0.14 0.15 0.18 0.21 0.14 0.16
EV/Net Sales(x) -0.11 -0.05 -0.04 0.07 0.04 0.08 0.06 0.02 0.05 0.08 0.05
EV/Core EBITDA(x) -4.42 -1.86 -1.4 6.14 4.78 8.18 5.8 2.89 11.62 15.91 10.01
Net Sales Growth(%) 0 -6.5 72.83 227.33 46.59 -22.49 -6.35 11.29 32.06 -5.88 39.72
EBIT Growth(%) 0 -2.78 56.98 40.31 2.57 8.38 -4.85 -16.99 -30.16 8.89 38.21
PAT Growth(%) 0 -21.02 83.22 63.23 16.34 1.79 2.07 -6.68 -29.94 19.45 41.92
EPS Growth(%) 0 -21.02 84.39 61.57 16.83 1.74 2.08 -6.68 -29.91 19.42 41.92
Debt/Equity(x) 1.13 1.14 1.14 0.96 0.94 1.22 0.7 0.12 0.09 0.07 0.05
Current Ratio(x) 1.21 1.3 1.24 1.19 1.23 1.32 1.33 1.39 1.72 1.87 2.43
Quick Ratio(x) 1.14 1.23 1.19 1.13 1.17 1.21 1.13 1.16 1.11 1.2 1.67
Interest Cover(x) 2.63 2.11 2.52 2.93 4.03 3.5 4.05 6.67 7.28 12.54 19.26
Total Debt/Mcap(x) 0.75 1.18 0.66 0.25 0.31 0.4 0.32 0.08 0.07 0.04 0.04

Rajesh Exports Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 54.05 54.05 54.05 54.05 54.05 54.05 54.05 54.05 54.55 54.55
FII 17.84 17.72 17.7 17.62 17.67 17.6 16.5 15.38 15.77 15.08
DII 11.45 11.44 11.39 11.36 11.27 11.26 11.16 11.08 11.08 11.08
Public 16.66 16.8 16.87 16.97 17.02 17.09 18.3 19.49 18.6 19.29
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Stock is trading at 0.6 times its book value
  • Debtor days have improved from 16.2 to 9.5days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 9% over the last 3 years.
  • The company has delivered a poor profit growth of 2% over past five 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.

Rajesh Exports News

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