MarketFriction

Rajesh Exports Ltd

NSE RAJESHEXPO · BSE 531500 · Gems, Jewellery And Watches
₹64.03 -1.04%
NSE close2026-10-01
52 week range60.25 - 237.88
Market cap₹1,862 Cr.
P/E11.0
Price band 5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales38,06665,47791,44560,35666,92496,630199,190131,542175,212235,098236,864240,336
Expenses38,01665,46591,60960,31866,84796,564199,203131,500175,036234,985237,089240,277
Operating Profit5012-164377767-1442176114-22559
OPM %0.1%0.0%-0.2%0.1%0.1%0.1%-0.0%0.0%0.1%0.1%-0.1%0.0%
Other Income1412206212221549121124112
Interest00433032333738394641-1
Depreciation111111111212111213131415
Profit before tax5313-13175443-8213765-4055
Tax %14%2%142%32%16%18%-123%642%24%-9%34%15%
Net Profit4512-301246362-1010471-5447
EPS in Rs1.530.42-1.030.401.541.200.07-0.323.522.42-1.811.60
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales165,179242,132187,686175,763195,600258,306243,128339,690280,676423,099778,716887,510
Expenses163,452240,382185,802173,967194,051257,182241,949338,054280,348422,932778,609887,387
Operating Profit1,7271,7501,8841,7961,5491,1241,1791,636328167107123
OPM %1.1%0.7%1.0%1.0%0.8%0.4%0.5%0.5%0.1%0.0%0.0%0.0%
Other Income42486266734024243118273275
Interest5784305374422221429081139133163125
Depreciation7965687473909110164455256
Profit before tax1,1121,3031,3421,3461,2618941,0381,478368107164218
Tax %4%5%6%4%4%5%3%3%9%11%32%
Net Profit1,0691,2441,2661,2921,2068451,0091,43233795112169
EPS in Rs36.2142.1242.8743.7640.8428.6134.1848.5111.413.213.815.73
Dividend Payout %3%3%2%2%2%4%3%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth17%25%32%80%
Compounded Profit Growth-20%-33%-57%130%
Stock Price CAGR-18%-36%-50%-65%
Return on Equity8%4%1%1%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital303030303030303030303030
Reserves3,3324,3625,6067,1458,81110,50411,19212,41614,69415,21715,65217,239
Borrowings3,8424,5945,5528,7176,1981,2781,0218157236559231,016
Other Liabilities8,87711,95612,9437,64313,80318,91611,23010,6557,4286,17012,76322,608
Total Liabilities16,08120,94124,13123,53528,84130,72823,47323,91622,87522,07229,36840,893
Fixed Assets2641,2871,1991,2891,4521,5211,4471,4492,0382,0711,3401,382
CWIP06288521126389104
Investments608419191,0201,0881,1421,0411,1131,2411,29210,75011,797
Other Assets15,75618,75221,92521,22126,30028,06420,97321,34819,55718,70017,26927,710
Total Assets16,08120,94124,13123,53528,84130,72823,47323,91622,87522,07229,36840,893
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity4,1852,0692,474-2,8703,4822,572-10,252-44571407,738643
Cash from Investing Activity-204-1,551-224-97101324-54861070-8,301156
Cash from Financing Activity2111385282,596-2,990-5,172-429-326-186-33188-76
Net Cash Flow4,1926572,777-371594-2,276-10,735-244281177-376724
Free Cash Flow4,0289062,471-2,9233,2482,432-10,278-92-265728,787601
CFO/OP324%125%146%-147%197%170%-908%2%30%-8%4,638%417%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days22118813171516111543
Inventory Days42238911127588
Days Payable6524181428351616881110
Cash Conversion Cycle-39-11-9-3-7-9912101221
Working Capital Days-61-20-16-18-18-9912101321
ROCE %18%20%17%14%12%11%9%9%11%3%1%2%
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Mar 2026Jun 2026
Promoters54.05%54.05%54.55%54.55%54.55%54.55%54.55%54.55%54.55%54.55%54.55%54.55%
FIIs16.50%15.38%15.78%15.08%14.72%14.81%14.70%15.19%14.94%15.26%14.26%12.61%
DIIs11.16%11.08%11.07%11.08%11.12%11.09%11.12%10.98%10.95%10.96%10.80%10.83%
Public18.29%19.49%18.60%19.28%19.61%19.54%19.63%19.29%19.56%19.24%20.39%22.02%
No. of Shareholders73,7751,52,9382,09,6232,13,5572,11,5472,11,9372,16,6432,14,9692,13,9082,06,9421,98,7962,01,013

Fundamentals

Market Cap₹ 1,862 Cr.
Current Price₹ 63.4
Stock P/E11.0
Book Value₹ 585
ROCE1.86 %
ROE0.68 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)80%
Compounded Profit Growth (TTM)130%
Consolidated figures.
Valuation
Market capRs 1,891 Cr
Enterprise valueRs 291 Cr
P/E (TTM)11.17x
Price to book0.11x
Price to sales0.00x
EV / EBITDA0.73x
EV / EBIT0.85x
EV / sales0.00x
Price to cash flow2.94x
Earnings yield8.95%
P/E, 3-year average33.98x
P/B, 3-year average0.33x
P/E, 5-year average26.95x
P/B, 5-year average0.77x
Profitability
Operating margin (excl. other income)0.01%
Operating margin (incl. other income)0.05%
EBITDA margin0.04%
Pre-tax margin0.02%
Net profit margin0.02%
Net margin, latest quarter0.02%
ROE0.68%
ROCE1.88%
ROA0.32%
ROE, 3-year average1.18%
ROCE, 3-year average2.20%
ROA, 3-year average0.73%
ROE, 5-year average4.52%
ROCE, 5-year average5.26%
ROA, 5-year average2.51%
ROIC (approx.)1.50%
Tax rate31.56%
Other income / net worth1.58%
Growth
Sales growth (latest year)84.05%
Profit growth (latest year)18.58%
Sales CAGR, 3 years31.86%
Sales CAGR, 5 years24.70%
Profit CAGR, 3 years-57.17%
Profit CAGR, 5 years-33.19%
Sales growth QoQ1.47%
Sales growth YoY (latest quarter)82.71%
Per share
EPS (TTM)Rs 5.73
EPS (latest year)Rs 3.81
EPS (latest quarter)Rs 1.60
EPS, 3-year averageRs 6.14
EPS, 5-year averageRs 20.22
Book value per shareRs 584.87
Sales per shareRs 30,058.60
Cash flow per shareRs 21.79
Free cash flow per shareRs 20.35
Dividend per share, 5-year averageRs 1.00
Dividends
Dividend payout, 5-year average2.93%
Efficiency
Asset turnover19.04x
Fixed asset turnover563.38x
Inventory turnover43.84x
Inventory days8 days
Debtor days3 days
Debtors turnover120.88x
Creditor days10 days
Cash conversion cycle1 days
Working capital days1 days
Leverage
Total debtRs 1,016 Cr
Cash and bankRs 2,615 Cr
Net debtRs -1,599 Cr
Debt to equity0.06x
Net debt / EBITDA-4.01x
Interest coverage2.74x
Current ratio (filing 2026-03-31)1.19x
Quick ratio (filing 2026-03-31)0.42x
Trade payables (filing 2026-03-31)Rs 22,177 Cr
Owners' fund to total sources42.23%
Debt to assets2.48%
Cash flow
Cash from Operating Activity (latest year)Rs 643 Cr
Cash from Investing Activity (latest year)Rs 156 Cr
Cash from Financing Activity (latest year)Rs -76 Cr
Net Cash Flow (latest year)Rs 724 Cr
Free cash flow (latest year)Rs 601 Cr
FCFE (approx.: FCF + change in debt)Rs 694 Cr
Cash from ops / profit, 5 years3.01x
Sales to cash flow1210.24x
Statement figures
Net sales (TTM)Rs 887,510 Cr
Net sales (latest year)Rs 778,716 Cr
Sales (latest quarter)Rs 240,336 Cr
Operating profit excl. other income (latest year)Rs 107 Cr
Operating profit (latest quarter)Rs 59 Cr
Other income (TTM)Rs 275 Cr
EBITDA (TTM)Rs 399 Cr
PBDT (TTM)Rs 274 Cr
Profit before tax (TTM)Rs 218 Cr
Tax (latest year)Rs 52 Cr
Net profit (TTM)Rs 169 Cr
Net profit (latest year)Rs 112 Cr
Net profit (latest quarter)Rs 47 Cr
Depreciation (TTM)Rs 56 Cr
Depreciation (latest quarter)Rs 15 Cr
Interest (TTM)Rs 125 Cr
Cost of goods sold (latest year)Rs 778,064 Cr
Total expenditure (latest year)Rs 778,609 Cr
Total income (latest year)Rs 778,989 Cr
Share capitalRs 30 Cr
ReservesRs 17,239 Cr
Shareholders' fundsRs 17,269 Cr
Total assetsRs 40,893 Cr
Net blockRs 1,382 Cr
Capital work in progressRs 4 Cr
InvestmentsRs 11,797 Cr
ReceivablesRs 6,442 Cr
InventoryRs 17,746 Cr
Other liabilitiesRs 22,608 Cr
Shares outstanding (crore)29.53
Ownership
Promoter holding54.55% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 11.2 is at the 13th percentile of its own 9.4-year range (median 16.5, low 5.4, high 87.5).
P/B 0.11 is the lowest in 9.4 years (median 1.43).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodRAJESHEXPONifty 50Difference
1 week-5.9%-2.8% -3.2 pts
1 month-15.4%-6.8% -8.6 pts
3 months-32.6%-7.6% -25.0 pts
6 months-20.3%+0.4% -20.7 pts
1 year-66.1%-9.9% -56.2 pts
2 years-77.9%-13.6% -64.3 pts
3 years-87.2%+14.2% -101.4 pts
5 years-89.1%+27.9% -117.0 pts

Red flags

F-score 6 of 8
lookProfit leans on other income Other income was 166% of pre-tax profit in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹240,336 Cr +82.7% vs Jun 2025. Net profit ₹47 Cr +570.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-23Annual General Meeting
2023-12-22Dividend - Re 1 Per Share
2022-09-22Annual General Meeting/Dividend - Re 1 Per Share
2021-12-15 Annual General Meeting/Dividend - Re 1 Per Share
2020-12-23 Dividend - Re 1 Per Share
2019-09-20 Dividend - Re 1 Per Share
2018-09-19 Dividend- Re 1 Per Share
2017-09-21 Annual General Meeting/Dividend - Rs 1.1 Per Share
2016-09-22 Dividend - Re 0.10 Per Share
2016-03-29 Interim Dividend - Re 0.90/- Per Share (Purpose Revised)
2015-09-23 Dividend - Re 1/- Per Share
2014-09-24Annual General Meeting / Dividend - Re 1/- Per Share
2013-09-24Annual General Meeting / Dividend - Re 1/- Per Share
2012-09-26Annual General Meeting/Dividend Re 0.60 Per Share
2011-09-21Dividend-Re.0.60 Per Share
2010-09-15Annual General Meeting And Dividend Re.1/- Per Share
2009-09-23Dividend-Re.0.60 Pr Share
2008-09-10Agm/Dividend - 35%
2008-01-29Fv Spl-Rs2 To Re1/Bon-2:10.5000
2007-09-14Agm/Dividend-100%
2006-09-08Agm/Dividend-100%
DateTypeWhat it says
2026-09-30Shareholder meetingProceedings of Annual General Meeting held on September 30, 2024
2026-09-23Record DateRecord date for the purpose of Meeting is 24-Sep-2026.
2026-09-23Shareholder meetingShareholders meeting
2026-09-16Reply to Clarification- FinaThe Exchange had sought clarification from Rajesh Exports Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing...
2026-09-08Clarification - Financial ReThe Exchange has sought clarification from Rajesh Exports Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing...
2026-09-07Change in Company Secretary/Change in Company Secretary/Compliance Officer
2026-08-31Structural Digital DatabaseSDD Certificate for Quarter ended June 30, 2026
2026-08-14Board meeting outcomeRajesh Exports Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-14Board meeting outcomeRajesh Exports Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-27News clarificationThe Exchange has sought clarification from Rajesh Exports Limited with respect to recent news item captioned NFRA begins probe into Rajesh Exports ove...
2026-07-08News clarificationThe Exchange has sought clarification from Rajesh Exports Limited with respect to recent news item captioned NFRA begins probe into Rajesh Exports ove...
2026-06-29News clarificationThe Exchange has sought clarification from Rajesh Exports Limited with respect to recent news item captioned ED searches Rajesh Exports in Bengaluru a...
2026-06-26Rumour Verification - RegulaRumour Verification - Regulation 30(11)
2026-06-24News clarificationThe Exchange has sought clarification from Rajesh Exports Limited with respect to recent news item captioned ED searches Rajesh Exports in Bengaluru a...
2026-06-16Disclosure under SEBI TakeovRajesh Exports Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substa...
2026-06-13Structural Digital DatabaseSDD Certificate for Quarter ended March 31, 2026
2026-06-05News clarificationThe Exchange has sought clarification from Rajesh Exports Limited with respect to recent news item captioned Rajesh Exports shares fall 5% after SEBI ...
2026-06-05General UpdatesGeneral Updates
2026-06-04Press ReleaseA press release dated Jun 04, 2026, titled "SEBIs Interim Order".
2026-06-04General UpdatesGeneral Updates
2026-06-04News clarificationThe Exchange has sought clarification from Rajesh Exports Limited with respect to recent news item captioned Rajesh Exports shares fall 5% after SEBI ...
2026-05-31Board meeting outcomeAudited Consolidated Results
2026-05-30Board meeting outcomeRajesh Exports Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-03-06Reply to Clarification- FinaThe Exchange had sought clarification from Rajesh Exports Limited for the quarter ended 30-Sep-2025 with respect to Regulation 33 of the SEBI (Listing...
2026-02-18Structural Digital DatabaseSDD certificate for Dec 2025
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-07-24NCLTCanara Bank Vs Rajesh Exports Ltd
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Under BZ/SZ Series
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03