Rajesh Exports bags order worth Rs 745 crore from Germany

Rajesh Exports announced today that it has bagged its first major order post-COVID worth Rs 745 crore of designer range of gold jewellery from Germany. The said order is to be completed by July 2021.  

Reacting to this, the company’s stock today increased by 4.56 per cent and made an intraday high of Rs 503.05 per share at 2.15 pm. 

Besides, the company reported a net profit of Rs 227.64 crore in Q3FY21. It had reported a profit of Rs 316.46 crore in Q3FY20, a decrease of 28.07 per cent. The company reported net sales of Rs 45,586.42 crore for Q3FY21, an increase of 12.28 per cent as against the net sales of Rs 40,601.12 crore for Q3FY20.  

Rajesh Exports Ltd is a manufacturer of gold products. Across its various manufacturing facilities, Rajesh Exports has a total installed capacity to manufacture 400 tonnes of gold products per annum. The company exports its products to various countries around the world and also, supplies its products in wholesale markets and jewellery showrooms across India.  

According to BSE data, the stock traded at a P/E multiple of 102.85 and a price-to-book ratio of 2.82. The stock has a 52-week high and a 52-week low of Rs 655.15 and Rs 440.80, respectively.  

At the time of market closing, the stock of the company was trading at Rs 485.90, up by 1 per cent on BSE.