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Last Updated: April 2, 2026, 3:33 am
Author: Getaka|Social: XLinkedIn

Rajesh Exports Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹40.84Overvalued by 50.97%vs CMP ₹83.30

P/E (14.6) × ROE (0.6%) × BV (₹562.00) × DY (2.00%)

₹538.19Undervalued by 546.09%vs CMP ₹83.30
MoS: +84.5% (Strong)Confidence: 48/100 (Moderate)Models: 5 Under, 4 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹28.5323%Over (-65.8%)
Graham NumberEarnings₹268.2416%Under (+222%)
Earnings PowerEarnings₹105.5311%Under (+26.7%)
DCFCash Flow₹26.3614%Over (-68.4%)
Net Asset ValueAssets₹561.997%Under (+574.7%)
EV/EBITDAEnterprise₹42.069%Over (-49.5%)
Earnings YieldEarnings₹56.907%Over (-31.7%)
ROCE CapitalReturns₹451.237%Under (+441.7%)
Revenue MultipleRevenue₹7,169.275%Under (+8506.6%)
Consensus (9 models)₹538.19100%Undervalued
Key Drivers: EPS CAGR -30.1% drags value — could be higher if earnings stabilize. | ROE 0.6% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -30.1%

*Investments are subject to market risks

Investment Snapshot

66
Rajesh Exports Ltd scores 66/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health62/100 · Moderate
ROCE 1.5% WeakROE 0.6% WeakD/E 0.09 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.56% (6mo) Slight increasePromoter holding at 54.6% Stable
Earnings Quality60/100 · Moderate
OPM stable around 0% SteadyWorking capital: 2 days (improving) Efficient
Quarterly Momentum90/100 · Strong
Revenue (4Q): +135% YoY AcceleratingProfit (4Q): +161% YoY Strong
Industry Rank55/100 · Moderate
P/E 14.6 vs industry 114.7 Cheaper than peersROCE 1.5% vs industry 6.5% Below peersROE 0.6% vs industry 9.0% Below peers3Y sales CAGR: 20% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:33 am

Market Cap 2,458 Cr.
Current Price 83.3
Intrinsic Value₹538.19
High / Low 239/80.4
Stock P/E14.6
Book Value 562
Dividend Yield0.00 %
ROCE1.47 %
ROE0.61 %
Face Value 1.00
PEG Ratio-0.48

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Rajesh Exports Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Rajesh Exports Ltd 2,458 Cr. 83.3 239/80.414.6 5620.00 %1.47 %0.61 % 1.00
Renaissance Global Ltd 1,093 Cr. 102 148/85.011.9 1350.00 %7.39 %6.02 % 2.00
Silgo Retail Ltd 184 Cr. 74.8 85.0/42.033.0 35.30.00 %10.5 %7.96 % 10.0
Parshva Enterprises Ltd 163 Cr. 160 321/138678 13.60.00 %3.12 %1.76 % 10.0
PC Jeweller Ltd 6,904 Cr. 8.25 19.6/7.4510.5 9.880.00 %6.55 %12.7 % 1.00
Industry Average3,640.67 Cr501.03114.74147.340.04%6.50%8.99%6.75

All Competitor Stocks of Rajesh Exports Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 94,474115,44885,68938,06665,47791,44560,35666,92496,630199,190131,542175,212235,098
Expenses 94,025115,04685,35438,01665,46591,60960,31866,84796,564199,203131,500175,036234,985
Operating Profit 4504023345012-164377767-1442176114
OPM % 0%0%0%0%0%-0%0%0%0%-0%0%0%0%
Other Income 1211214122062122215491211
Interest 0190004330323337383946
Depreciation 27263111111111121211121313
Profit before tax 4233773155313-13175443-8213765
Tax % 0%3%2%14%2%142%32%16%18%-123%642%24%-9%
Net Profit 4223663094512-301246362-1010471
EPS in Rs 14.2812.4010.481.530.42-1.030.401.541.200.07-0.323.522.42

Last Updated: March 3, 2026, 3:12 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 1:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 29,19750,463165,179242,132187,686175,763195,600258,306243,128339,690280,676423,099741,042
Expenses 28,41449,196163,452240,382185,802173,967194,051257,182241,949338,054280,348422,932740,723
Operating Profit 7831,2661,7271,7501,8841,7961,5491,1241,1791,636328167318
OPM % 3%3%1%1%1%1%1%0%0%0%0%0%0%
Other Income 104248626673402424311886
Interest 3634785784305374422221429081139133159
Depreciation 166279656874739091101644550
Profit before tax 4047261,1121,3031,3421,3461,2618941,0381,478368107196
Tax % 11%10%4%5%6%4%4%5%3%3%9%11%
Net Profit 3576551,0691,2441,2661,2921,2068451,0091,43233795168
EPS in Rs 12.1122.1836.2142.1242.8743.7640.8428.6134.1848.5111.413.215.69
Dividend Payout % 8%5%3%3%2%2%2%4%3%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)83.47%63.21%16.37%1.77%2.05%-6.66%-29.93%19.41%41.92%-76.47%-71.81%
Change in YoY Net Profit Growth (%)0.00%-20.27%-46.84%-14.60%0.29%-8.71%-23.28%49.34%22.51%-118.39%4.66%

Rajesh Exports Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:24%
5 Years:17%
3 Years:20%
TTM:51%
Compounded Profit Growth
10 Years:-18%
5 Years:-40%
3 Years:-55%
TTM:-72%
Stock Price CAGR
10 Years:-9%
5 Years:-16%
3 Years:-32%
1 Year:-38%
Return on Equity
10 Years:10%
5 Years:6%
3 Years:4%
Last Year:1%

Last Updated: September 5, 2025, 12:55 pm

Balance Sheet

Last Updated: December 4, 2025, 1:52 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 30303030303030303030303030
Reserves 2,7133,3324,3625,6067,1458,81110,50411,19212,41614,69415,21715,65216,553
Borrowings 3,1183,8424,5945,5528,7176,1981,2781,021815723655923879
Other Liabilities 5,3788,87711,95612,9437,64313,80318,91611,23010,6557,4286,17012,76819,907
Total Liabilities 11,23816,08120,94124,13123,53528,84130,72823,47323,91622,87522,07229,37237,369
Fixed Assets 1682641,2871,1991,2891,4521,5211,4471,4492,0382,0711,3401,494
CWIP 0062885211263891021
Investments 13608419191,0201,0881,1421,0411,1131,2411,29210,75011,205
Other Assets 11,05615,75618,75221,92521,22126,30028,06420,97321,34819,55718,70017,27324,648
Total Assets 11,23816,08120,94124,13123,53528,84130,72823,47323,91622,87522,07229,37237,369

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -2,5024,1852,0692,474-2,8703,4822,572-10,252-44571407,738
Cash from Investing Activity + -125-204-1,551-224-97101324-54861070-8,301
Cash from Financing Activity + -42111385282,596-2,990-5,172-429-326-186-33188
Net Cash Flow -2,6324,1926572,777-371594-2,276-10,735-244281177-376
Free Cash Flow -2,6184,0289062,471-2,9233,2482,432-10,278-92-265728,787
CFO/OP -312%324%125%146%-147%197%170%-908%2%30%-8%4,638%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow780.00-2.00-3.00-4.00-7.00-5.000.000.00-814.00-722.00-327.00-756.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 302211881317151611154
Inventory Days 74223891112758
Days Payable 6865241814283516168811
Cash Conversion Cycle -30-39-11-9-3-7-991210122
Working Capital Days -59-61-20-16-18-18-991210132
ROCE %14%18%20%17%14%12%11%9%9%11%3%1%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters 54.05%54.05%54.05%54.05%54.55%54.55%54.55%54.55%54.55%54.55%54.55%54.55%
FIIs 17.67%17.60%16.50%15.38%15.78%15.08%14.72%14.81%14.70%15.19%14.94%15.26%
DIIs 11.27%11.26%11.16%11.08%11.07%11.08%11.12%11.09%11.12%10.98%10.95%10.96%
Public 17.00%17.08%18.29%19.49%18.60%19.28%19.61%19.54%19.63%19.29%19.56%19.24%
No. of Shareholders 40,13140,74273,7751,52,9382,09,6232,13,5572,11,5472,11,9372,16,6432,14,9692,13,9082,06,942

Shareholding Pattern Chart

No. of Shareholders

Rajesh Exports Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Motilal Oswal Nifty Midcap 150 Index Fund 65,091 0.2 2.365,0912025-04-22 17:11:170%
Nippon India ETF Nifty Midcap 150 57,644 0.2 2.0457,6442025-04-22 17:11:170%
Nippon India Nifty Midcap 150 Index Fund 54,295 0.2 1.9254,2952025-04-22 17:11:170%
Mirae Asset Nifty Midcap 150 ETF 32,194 0.2 1.1432,1942025-04-22 17:11:170%
UTI Nifty 500 Value 50 Index Fund 23,686 0.97 0.8423,6862025-04-22 17:11:170%
Motilal Oswal S&P BSE Enhanced Value Index Fund 21,181 0.89 0.7521,1812025-04-22 17:11:170%
ICICI Prudential Nifty Midcap 150 Index Fund 14,123 0.2 0.514,1232025-04-22 17:11:170%
ICICI Prudential Nifty Midcap 150 ETF 13,509 0.2 0.4813,5092025-04-22 17:11:170%
SBI Nifty Midcap 150 Index Fund 13,048 0.2 0.4613,0482025-04-22 17:11:170%
Aditya Birla Sun Life Nifty Midcap 150 Index Fund 7,735 0.2 0.277,7352025-04-22 17:11:170%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 3.2111.4148.5234.1928.63
Diluted EPS (Rs.) 3.2111.4148.5234.1928.63
Cash EPS (Rs.) 4.7513.5551.9237.2631.68
Book Value[Excl.RevalReserv]/Share (Rs.) 531.11516.39498.67421.52380.05
Book Value[Incl.RevalReserv]/Share (Rs.) 531.11516.39498.67421.52380.05
Revenue From Operations / Share (Rs.) 14329.729506.0711504.768234.378748.41
PBDIT / Share (Rs.) 9.6519.3256.2241.2938.16
PBIT / Share (Rs.) 8.1217.1352.8138.2135.09
PBT / Share (Rs.) 3.6212.4350.0735.1730.27
Net Profit / Share (Rs.) 3.2111.3648.5134.1828.61
NP After MI And SOA / Share (Rs.) 3.2111.3648.5134.1828.61
PBDIT Margin (%) 0.060.200.480.500.43
PBIT Margin (%) 0.050.180.450.460.40
PBT Margin (%) 0.020.130.430.420.34
Net Profit Margin (%) 0.020.110.420.410.32
NP After MI And SOA Margin (%) 0.020.110.420.410.32
Return on Networth / Equity (%) 0.602.209.728.107.52
Return on Capital Employeed (%) 1.503.2910.519.009.15
Return On Assets (%) 0.321.526.264.213.59
Total Debt / Equity (X) 0.050.040.040.060.09
Asset Turnover Ratio (%) 16.4512.4914.520.370.10
Current Ratio (X) 1.282.782.431.871.72
Quick Ratio (X) 0.562.151.671.201.11
Inventory Turnover Ratio (X) 61.1854.6249.221.550.70
Dividend Payout Ratio (NP) (%) 0.000.000.942.923.49
Dividend Payout Ratio (CP) (%) 0.000.000.882.683.15
Earning Retention Ratio (%) 0.000.0099.0697.0896.51
Cash Earning Retention Ratio (%) 0.000.0099.1297.3296.85
Interest Coverage Ratio (X) 2.154.1020.5113.557.91
Interest Coverage Ratio (Post Tax) (X) 1.713.4118.6912.226.93
Enterprise Value (Cr.) 4663.566150.0716615.6619395.0513096.20
EV / Net Operating Revenue (X) 0.010.020.040.070.05
EV / EBITDA (X) 16.3610.7810.0115.9111.62
MarketCap / Net Operating Revenue (X) 0.010.020.050.080.05
Retention Ratios (%) 0.000.0099.0597.0796.50
Price / BV (X) 0.340.501.221.641.26
Price / Net Operating Revenue (X) 0.010.020.050.080.05
EarningsYield 0.010.040.070.040.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Rajesh Exports Ltd. is a Public Limited Listed company incorporated on 01/02/1995 and has its registered office in the State of Karnataka, India. Company's Corporate Identification Number(CIN) is L36911KA1995PLC017077 and registration number is 017077. Currently Company is involved in the business activities of Manufacture of jewellery, bijouterie and related articles. Company's Total Operating Revenue is Rs. 7027.07 Cr. and Equity Capital is Rs. 29.53 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Gems, Jewellery & Precious MetalsNo. 4, Batavia Chambers, Bengaluru Karnataka 560001Contact not found
Management
NamePosition Held
Mr. Rajesh MehtaExecutive Chairman
Mr. Suresh KumarManaging Director
Mr. Prashant SagarIndependent Director
Ms. B S VasumathiIndependent Director
Ms. Asha MehtaIndependent Director
Mr. Tapan MondalNon Exe.Non Ind.Director

FAQ

What is the intrinsic value of Rajesh Exports Ltd and is it undervalued?

As of 10 April 2026, Rajesh Exports Ltd's intrinsic value is ₹538.19, which is 546.09% higher than the current market price of ₹83.30, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (0.61 %), book value (₹562), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Rajesh Exports Ltd?

Rajesh Exports Ltd is trading at ₹83.30 as of 10 April 2026, with a FY2026-2027 high of ₹239 and low of ₹80.4. The stock is currently near its 52-week low. Market cap stands at ₹2,458 Cr..

How does Rajesh Exports Ltd's P/E ratio compare to its industry?

Rajesh Exports Ltd has a P/E ratio of 14.6, which is below the industry average of 114.74. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Rajesh Exports Ltd financially healthy?

Key indicators for Rajesh Exports Ltd: ROCE of 1.47 % is on the lower side compared to the industry average of 6.50%; ROE of 0.61 % is below ideal levels (industry average: 8.99%). Dividend yield is 0.00 %.

Is Rajesh Exports Ltd profitable and how is the profit trend?

Rajesh Exports Ltd reported a net profit of ₹95 Cr in Mar 2025 on revenue of ₹423,099 Cr. Compared to ₹1,009 Cr in Mar 2022, the net profit shows a declining trend.

Does Rajesh Exports Ltd pay dividends?

Rajesh Exports Ltd has a dividend yield of 0.00 % at the current price of ₹83.30. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Rajesh Exports Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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