Rajesh Exports share inches up on bagging first major export order post pandemic

Rajesh Exports Limited informed on Wednesday that it has received its first major prestigious order post-COVID-19 worth Rs 1,352 crore, which involves a designer range of gold jewellery from Germany. The order is expected to be completed by March 31, 2021.  

This order qualifies to be the first major and prestigious order flowing in the business post-outbreak of the pandemic. The export orders were not viable to be accepted till recently, as the international passenger flights were unable to operate normally, which caused a constraint in shipping the goods. However, now, since the international flights are back to normalcy, the company has started accepting orders. It also believes that it will be able to reach its pre-COVID revenue and profitability in the lined-up quarters. The company is of the view that it will also possibly show impressive growth, owing to the pent-up demand of the past three quarters.  

The order will be executed from the company’s own manufacturing facilities which are known to be the world's largest gold manufacturing facilities. The facilities are capable of processing 250 tonnes of jewellery and gold products per annum. With the back of expertise-skilled craftsmen, artisans, and its exceptionally strong backward integrated infrastructure, the company poses itself to execute the order within the specified timeframe.  

Rajesh Exports Ltd is engaged in the business of gold & gold products. It markets jewellery to consumers across the world.  

At 1.59 pm today, the company’s stock was trading at Rs 483.40, up by 0.78 per cent on BSE.