Rajesh Exports Ltd
NSE: RAJESHEXPO · Gems, Jewellery And Watches · sector
₹50.21NSE close 2026-10-26
Key numbers
Market cap₹1,482 cr
Price₹50.21
52w high / low₹238 / ₹50
P/E11.0xSector median 16.4x
P/B0.1xSector median 1.9x
Book value₹584.9
Dividend yield–Sector median 0.46%
ROE0.8%Sector median 14.7%
ROCE1.7%Sector median 15.0%
OPM0.0%Sector median 6.6%
Debt / equity0.06xSector median 0.26x
EV/EBITDA-1.6xSector median 15.4x
Interest cover2.4x
Current ratio1.19x
Sales growth 3y+47.4%Sector median +25.6%
Profit growth 3y-51.9%Sector median +26.1%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 82 companies in Gems, Jewellery And Watches (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹2,615 cr vs borrowings ₹1,016 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 2.4x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 3 of the last 5 years (FY24, FY23, FY21).
- Net loss in 3 of the last 8 quarters.
- Revenue was higher than a year earlier in 3 of the last 4 quarters.
- Other income was 203% of net profit in the last 12 months.
- Dividend paid in 4 of the last 5 financial years.
- Price ₹50.21 on 2026-10-26: -78.9% from the 52-week high, 0.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹290.30 · low ₹50.21
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Mar 2024 | Jun 2024 | Sep 2024 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 91,445 | 60,356 | 66,924 | 1,31,542 | 1,75,212 | 2,35,098 | 2,36,864 | 1,318 |
| EBITDA | -164 | 37 | 77 | 42 | 176 | 114 | -225 | 6 |
| OPM % | -0.2% | 0.1% | 0.1% | 0.0% | 0.1% | 0.0% | -0.1% | 0.5% |
| Other income | 204 | 21 | 22 | 9 | 12 | 11 | 241 | 10 |
| Net profit | -32 | 12 | 46 | -10 | 104 | 71 | -54 | 12 |
| EPS (₹) | 1.02 | 0.40 | 1.54 | -0.32 | 3.52 | 2.42 | -1.81 | 0.42 |
| Revenue YoY | +91.6% | +289.5% | +253.9% | -99.0% | ||||
| Profit YoY | – | +502.7% | -217.4% | – |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY21 | FY22 | FY23 | FY24 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 2,58,313 | 2,43,128 | 3,39,690 | 2,80,676 | 7,78,716 | 6,48,492 |
| EBITDA | 982 | 1,089 | 1,555 | 328 | 107 | 71 |
| Net profit | 846 | 1,009 | 1,432 | 336 | 112 | 134 |
| EPS (₹) | 28.65 | 34.16 | 48.52 | 11.41 | 3.81 | 4.55 |
| Revenue growth | -5.9% | +39.7% | -17.4% | +177.4% | – | |
| Profit growth | +19.3% | +42.0% | -76.6% | -66.5% | – | |
| Dividend / share (₹) | 1.00 | 1.00 | 1.00 | 1.00 | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +47.4% | – | – |
| Net profit | -51.9% | – | – |
| EPS | -51.9% | – | – |
| Share price | – | -55.3% (2y) | -70.0% |
Balance sheet
| ₹ cr | FY21 | FY22 | FY23 | FY24 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | – | 14,724 | 15,247 | 17,269 |
| Borrowings | – | – | 730 | 661 | 1,016 |
| Cash & equivalents | – | – | 2,096 | 2,273 | 2,615 |
| Total assets | – | – | 22,875 | 22,072 | 40,893 |
| Fixed assets | – | – | 1,192 | 1,208 | 508 |
| Capital work in progress | – | – | 38 | 9 | 4 |
| Investments | – | – | 1,241 | 0 | 11,797 |
| Receivables | – | – | 10,356 | 11,304 | 6,442 |
| Inventory | – | – | 6,049 | 4,205 | 17,746 |
| Payables | – | – | 7,157 | 5,920 | 22,177 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY21 | FY22 | FY23 | FY24 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -10,254 | 1,129 | 437 | 316 | 372 |
| Cash from investing | 76 | -110 | 0 | -118 | -1,088 |
| Cash from financing | -429 | -238 | 139 | -208 | 196 |
| Capex | 0 | 36 | 0 | 68 | 43 |
| Free cash flow | -10,254 | 1,093 | 437 | 248 | 329 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY21 | FY22 | FY23 | FY24 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | – | 9.7% | 2.2% | 0.7% |
| ROCE % | – | – | 9.6% | 3.2% | 1.8% |
| Debtor days | – | – | 11 | 15 | 3 |
| Inventory days | – | – | 7 | 5 | 8 |
| Payable days | – | – | 8 | 8 | 10 |
| Cash conversion cycle (days) | – | – | 10 | 12 | 1 |
| Working capital days | – | – | 12 | 16 | 2 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 54.55% |
| FIIs | 12.23% |
| DIIs | 10.54% |
| of which Insurance | 10.28% |
| Public (non-institutions) | 22.69% |
| Quarter | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 54.55% | 54.55% | 54.55% | 54.55% | 54.55% | 54.55% | 54.55% | 54.55% |
| Promoter group | % |
|---|---|
| Rajesh Jasvantrai Mehta | 41.25% |
| Prashant Jasvantrai Mehta | 12.59% |
| Leena Rajesh Mehta | 0.20% |
| Manisha P Mehta | 0.20% |
| Chandrika J Mehta | 0.15% |
| Jasvantrai F Mehta | 0.15% |
| Mahesh Jasvantrai Mehta | 0.00% |
| Bipin Jasvantrai Mehta | 0.00% |
| Jayshree B Mehta | 0.00% |
| Alpa Maheshbhai Mehta | 0.00% |
| Bhavesh B Mehta | 0.00% |
| Public holders above 1% | % |
|---|---|
| Life Insurance Corporation Of India | 10.28% |
| Bridge India Fund | 8.46% |
| Tamanna Dhakan | 4.81% |
| Schwab Fundamental Emerging Markets Equity Etf | 1.15% |
1,92,066 shareholders. Pledged: 0.00% of promoter shares.
Peers in Gems, Jewellery And Watches
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| TITAN | ₹3,83,796 cr | 66.9x | 24.4x | 42.2% | 33.3% | 10.1% | +29.2% | 0.25% |
| KALYANKJIL | ₹52,133 cr | 36.3x | 8.3x | 25.8% | 34.4% | 6.6% | +36.4% | 0.30% |
| LALITHAA | ₹17,374 cr | – | – | – | – | – | – | – |
| PCJEWELLER | ₹16,193 cr | 16.0x | 1.7x | 10.8% | 10.3% | 24.5% | +10.7% | – |
| SKYGOLD | ₹14,535 cr | 43.3x | 12.1x | 35.6% | 26.4% | 7.2% | +76.0% | – |
| THANGAMAYL | ₹14,404 cr | 36.8x | 10.2x | 31.1% | 26.3% | 6.4% | +39.2% | 0.27% |
| BLUESTONE | ₹11,583 cr | 110.7x | 6.3x | 6.0% | 11.9% | 17.0% | – | – |
| PNGJL | ₹7,558 cr | 17.0x | 3.9x | 25.4% | 19.9% | 5.8% | – | – |
| ETHOSLTD | ₹6,486 cr | 62.2x | 4.4x | 8.4% | 12.0% | 12.8% | +26.9% | – |
| RAJESHEXPO | ₹1,482 cr | 11.0x | 0.1x | 0.8% | 1.7% | 0.0% | +47.4% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-09-23 | Other | Annual General Meeting |
| 2023-12-22 | Dividend | Dividend - Re 1 Per Share |
| 2022-09-22 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2021-12-15 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2020-12-23 | Dividend | Dividend - Re 1 Per Share |
| 2019-09-20 | Dividend | Dividend - Re 1 Per Share |
| 2018-09-19 | Dividend | Dividend- Re 1 Per Share |
| 2017-09-21 | Dividend | Annual General Meeting/Dividend - Rs 1.1 Per Share |
| 2016-09-22 | Dividend | Dividend - Re 0.10 Per Share |
| 2016-03-29 | Dividend | Interim Dividend - Re 0.90/- Per Share (Purpose Revised) |
| 2015-09-23 | Dividend | Dividend - Re 1/- Per Share |
| 2014-09-24 | Dividend | Annual General Meeting / Dividend - Re 1/- Per Share |
| 2013-09-24 | Dividend | Annual General Meeting / Dividend - Re 1/- Per Share |
| 2012-09-26 | Dividend | Annual General Meeting/Dividend Re 0.60 Per Share |
| 2011-09-21 | Dividend | Dividend-Re.0.60 Per Share |
| 2010-09-15 | Dividend | Annual General Meeting And Dividend Re.1/- Per Share |
| 2009-09-23 | Dividend | Dividend-Re.0.60 Pr Share |
| 2008-09-10 | Dividend | Agm/Dividend - 35% |
| 2008-01-29 | Other | Fv Spl-Rs2 To Re1/Bon-2:1 |
| 2007-09-14 | Dividend | Agm/Dividend-100% |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- GOLD AND GOLD PRODUCTS: MANUFACTURER
| Sector | Consumer Discretionary |
| Industry | Gems, Jewellery And Watches |
| Sub-industry | Gems, Jewellery And Watches |
| Symbol | RAJESHEXPO |
| BSE code | 531500 |
| ISIN | INE343B01030 |
| Face value | ₹1.0 |
| Incorporated | 1995-02-01 |
| Website | http://www.rajeshindia.com |
| Plants (India / abroad) | 2 / 1 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.