Rajesh Exports

₹579.9 4.8 | 0.8%

WEBSITE BSE:531500 NSE : RAJESH EXPO. 09 Jun, 12:46

Market Cap ₹17121 Cr.

Stock P/E 12.0

P/B 1.2

Current Price ₹579.9

Book Value ₹ 498.7

Face Value 1

52W High ₹1028.4

Dividend Yield 0.17%

52W Low ₹ 516.1

Edit Ratio

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.

Rajesh Exports Share Price

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Price

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Quarterly Price

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Peer Comparison

Rajesh Exports Quarterly Results

#(Fig in Cr.)	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Net Sales	45586	64523	50897	41245	65179	85806	49497	80270	94474	115448
Other Income	1	1	0	1	0	38	1	1	1	21
Total Income	45587	64523	50897	41246	65180	85845	49498	80271	94475	115469
Total Expenditure	45323	64196	50596	40916	64862	85666	49192	79852	94025	115066
Operating Profit	264	327	302	331	318	179	306	419	451	403
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	30	23	22	33	13	23	23	24	27	26
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	234	304	280	298	304	157	283	395	423	377
Provision for Tax	6	12	1	6	4	18	12	22	2	11
Profit After Tax	228	293	278	291	300	139	272	373	422	366
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	228	293	278	291	300	139	272	373	422	366
Adjusted Earnings Per Share	7.7	9.9	9.4	9.9	10.2	4.7	9.2	12.6	14.3	12.4

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	TTM
Net Sales	31226	29197	50463	165179	242132	187686	175763	195600	258306	243128	339689
Other Income	3	1	0	42	48	62	68	7	3	40	24
Total Income	31229	29198	50463	165220	242180	187748	175831	195607	258308	243168	339713
Total Expenditure	30437	28414	49196	163452	240382	185802	173969	194051	257182	241949	338135
Operating Profit	791	784	1267	1769	1798	1946	1862	1556	1127	1219	1579
Interest	300	363	478	578	430	537	442	222	142	90	0
Depreciation	2	16	62	79	65	68	74	73	90	91	100
Exceptional Income / Expenses	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
Provision for Tax	37	46	71	43	59	76	54	55	49	29	47
Profit After Tax	453	357	655	1069	1244	1266	1292	1206	845	1009	1433
Adjustments	0	0	4	-4	1	-0	-0	0	0	0	0
Profit After Adjustments	453	357	659	1065	1244	1266	1292	1206	845	1009	1433
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

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-6%	11%	0%	0%
Operating Profit CAGR	8%	-13%	-7%	0%
PAT CAGR	19%	-8%	-4%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	10%	7%	-1%	17%
ROE Average	9%	10%	13%	17%
ROCE Average	9%	10%	11%	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
Shareholder's Funds	2415	2742	3362	4783	5884	7175	8840	10534	11221	12446
Minority's Interest	0	0	0	0	0	0	0	0	0	0
Borrowings	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	8	8	7	509	475	332	220	107	92	81
Total Current Liabilities	11417	8487	12711	15648	17771	16029	19781	20087	12160	11389
Total Liabilities	13839	11237	16080	20940	24131	23535	28841	30728	23473	23916
Fixed Assets	69	168	264	1287	1199	1289	1452	1521	1447	1449
Other Non-Current Assets	4	55	102	971	1058	1075	1149	1203	1110	1176
Total Current Assets	13766	11014	15714	18683	21875	21171	26240	28003	20916	21290
Total Assets	13839	11237	16080	20940	24131	23535	28841	30728	23473	23916

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
Opening Cash & Cash Equivalents	7855	9846	7214	11406	12063	14840	14470	15063	12788	2053
Cash Flow from Operating Activities	2849	-2502	4185	2069	2474	-2870	3482	2572	-10252	-4
Cash Flow from Investing Activities	-1	-125	-204	-1944	-81	-154	-301	-194	74	-158
Cash Flow from Financing Activities	-857	-4	211	139	528	2596	-2990	-5172	-429	-326
Net Cash Inflow / Outflow	1991	-2632	4192	264	2921	-428	191	-2793	-10606	-489
Closing Cash & Cash Equivalent	9846	7214	11406	12063	14840	14470	15063	12788	2053	1809

Rajesh Exports Ratios

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

Rajesh Exports Shareholding Pattern

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	54.05	54.05	54.05	54.05	54.05	54.05	54.05	54.05	54.05	54.05
FII	17.01	16.89	0	16.8	17.84	17.72	17.7	17.62	17.67	17.6
DII	7.44	9.14	26.63	10.48	11.45	11.44	11.39	11.36	11.27	11.26
Public	21.5	19.93	19.32	18.68	16.66	16.8	16.87	16.97	17.02	17.09
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	15.96	15.96	15.96	15.96	15.96	15.96	15.96	15.96	15.96	15.96
FII	5.02	4.99	0	4.96	5.27	5.23	5.22	5.2	5.22	5.2
DII	2.2	2.7	7.86	3.09	3.38	3.38	3.36	3.35	3.33	3.33
Public	6.35	5.88	5.71	5.52	4.92	4.96	4.98	5.01	5.02	5.05
Others	0	0	0	0	0	0	0	0	0	0
Total	29.53	29.53	29.53	29.53	29.53	29.53	29.53	29.53	29.53	29.53

Pros

Debtor days have improved from 21.11 to 16.2days.
Company is almost debt free.

Cons

Company has a low return on equity of 10% over the last 3 years.
The company has delivered a poor profit growth of -4% 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.