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Last Updated on: 28 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Rajesh Exports Ltd

About the Company - Rajesh Exports Ltd

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. 6236.50 Cr. and Equity Capital is Rs. 29.53 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Diamond Cutting/Precious Metals/JewelleryNo. 4, Batavia Chambers, Kumara Krupa Road, Bengaluru Karnataka 560001compsect@rajeshindia.com
http://www.rajeshindia.com
Management
NamePosition Held
Mr. Rajesh MehtaExecutive Chairman
Mr. Prashant SagarIndependent Director
Ms. Vijaya LakshmiIndependent Director
Ms. Asha MehtaIndependent Director
Mr. T D JosephNon Exe.Non Ind.Director
Mr. Suresh KumarManaging Director

Rajesh Exports Ltd. Share Price Update

Share PriceValue
Today₹331.05
Previous Day₹342.45

Basic Stock Data of Rajesh Exports Ltd

Market Cap 9,603 Cr.
Current Price 325
High / Low675/299
Stock P/E13.1
Book Value 516
Dividend Yield0.30 %
ROCE10.9 %
ROE10.5 %
Face Value 1.00

Data Source: screener.in

Competitors of Rajesh Exports Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Penta Gold Ltd 11.6 Cr. 9.1537.8/7.60 23.10.00 %1.27 %21.2 % 10.0
Parshva Enterprises Ltd 201 Cr. 200240/144743 10.60.00 %3.62 %2.12 % 10.0
Thangamayil Jewellery Ltd 3,586 Cr. 1,3071,550/48828.4 1630.45 %16.8 %22.4 % 10.0
Tribhovandas Bhimji Zaveri Ltd (TBZ) 819 Cr. 123145/58.215.3 85.11.43 %9.30 %7.39 % 10.0
Titan Company Ltd 3,23,500 Cr. 3,6443,887/2,32093.8 1400.28 %25.1 %30.8 % 1.00
Industry Average65,623.52 Cr1,056.63176.1084.360.43%11.22%16.78%8.20

Rajesh Exports Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales102,15045,58664,52350,89741,24565,17985,80649,49780,27094,474115,44885,68938,066
Expenses101,94445,32364,19650,59640,91664,86285,66649,19279,85294,025115,06685,35438,016
Operating Profit20626432630232931814130541845038233450
OPM %0%1%1%1%1%0%0%1%1%0%0%0%0%
Other Income11101038111211214
Interest0000000000000
Depreciation19302322331323232427263111
Profit before tax18823430428029830415728339542337731553
Tax %8%3%4%0%2%1%12%4%6%0%3%2%14%
Net Profit17322829327829130013927237342236630945
EPS in Rs5.867.719.929.439.8710.174.699.2012.6314.2812.4010.481.53

Rajesh Exports Ltd Quarterly Chart

Rajesh Exports Ltd Profit & Loss

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales31,22629,19750,463165,179242,132187,686175,763195,600258,306243,128339,690333,677
Expenses30,43728,41449,196163,452240,382185,802173,967194,051257,182241,949338,054332,461
Operating Profit7897831,2661,7271,7501,8841,7961,5491,1241,1791,6361,216
OPM %3%3%3%1%1%1%1%1%0%0%0%0%
Other Income3104248626673402448
Interest30036347857843053744222214290810
Depreciation216627965687473909110196
Profit before tax4904047261,1121,3031,3421,3461,2618941,0381,4781,168
Tax %8%11%10%4%5%6%4%4%5%3%3%
Net Profit4533576551,0691,2441,2661,2921,2068451,0091,4321,142
EPS in Rs15.3312.1122.1836.2142.1242.8743.7640.8428.6134.1848.5138.69
Dividend Payout %7%8%5%3%3%2%2%2%4%3%2%

Rajesh Exports Ltd Profit & Loss Yearly Chart

Rajesh Exports Ltd Growth

Compounded Sales Growth
10 Years:27%
5 Years:13%
3 Years:20%
TTM:19%
Compounded Profit Growth
10 Years:12%
5 Years:3%
3 Years:6%
TTM:5%
Stock Price CAGR
10 Years:16%
5 Years:-9%
3 Years:-10%
1 Year:-59%
Return on Equity
10 Years:14%
5 Years:11%
3 Years:9%
Last Year:11%

Rajesh Exports Ltd Balance Sheet

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital303030303030303030303030
Reserves2,3852,7133,3324,3625,6067,1458,81110,50411,19212,41614,69415,193
Borrowings2,7293,1183,8424,5945,5528,7176,1981,2781,021815723627
Other Liabilities8,6975,3788,87711,95612,9437,64313,80318,91611,23010,6557,4283,376
Total Liabilities13,84011,23816,08120,94124,13123,53528,84130,72823,47323,91622,87519,224
Fixed Assets691682641,2871,1991,2891,4521,5211,4471,4492,0382,023
CWIP00062885211263849
Investments313608419191,0201,0881,1421,0411,1131,2411,254
Other Assets13,76711,05615,75618,75221,92521,22126,30028,06420,97321,34819,55715,898
Total Assets13,84011,23816,08120,94124,13123,53528,84130,72823,47323,91622,87519,224

Rajesh Exports Ltd Reserves and Borrowings Chart

Rajesh Exports Ltd Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 2,849-2,5024,1852,0692,474-2,8703,4822,572-10,252-4463
Cash from Investing Activity -1-125-204-1,551-224-97101324-548610
Cash from Financing Activity -857-42111385282,596-2,990-5,172-429-326-186
Net Cash Flow1,991-2,6324,1926572,777-371594-2,276-10,735-244288

Rajesh Exports Ltd Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days27302211881317151611
Inventory Days9742238911127
Days Payable976865241814283516168
Cash Conversion Cycle-60-30-39-11-9-3-7-991210
Working Capital Days-56-20-33-10-8-1-5-7111311
ROCE %14%18%20%17%14%12%11%9%9%11%

Rajesh Exports Ltd Financial Efficiency Indicators Chart

Rajesh Exports Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters54.05%54.05%54.05%54.05%54.05%54.05%54.05%54.05%54.05%54.05%54.05%54.55%
FIIs16.89%16.99%16.80%17.84%17.72%17.70%17.62%17.67%17.60%16.50%15.38%15.78%
DIIs9.14%9.64%10.47%11.45%11.43%11.39%11.35%11.27%11.26%11.16%11.08%11.07%
Public19.93%19.32%18.68%16.66%16.80%16.87%16.97%17.00%17.08%18.29%19.49%18.60%
No. of Shareholders46,03841,90042,23636,40642,34145,10746,72540,13140,74273,7751,52,9382,09,623

Rajesh Exports Ltd Shareholding Pattern Chart

No. of Rajesh Exports Ltd Shareholders

Rajesh Exports Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Motilal Oswal Nifty Midcap 150 Index Fund650910.22.3
Nippon India ETF Nifty Midcap 150576440.22.04
Nippon India Nifty Midcap 150 Index Fund542950.21.92
Mirae Asset Nifty Midcap 150 ETF321940.21.14
UTI Nifty 500 Value 50 Index Fund236860.970.84
Motilal Oswal S&P BSE Enhanced Value Index Fund211810.890.75
ICICI Prudential Nifty Midcap 150 Index Fund141230.20.5
ICICI Prudential Nifty Midcap 150 ETF135090.20.48
SBI Nifty Midcap 150 Index Fund130480.20.46
Aditya Birla Sun Life Nifty Midcap 150 Index Fund77350.20.27

Rajesh Exports Ltd ROCE Trend

Rajesh Exports Ltd EPS Trend

Rajesh Exports Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)48.5234.1928.6340.8443.76
Diluted EPS (Rs.)48.5234.1928.6340.8443.76
Cash EPS (Rs.)51.9237.2631.6843.3046.28
Book Value[Excl.RevalReserv]/Share (Rs.)498.67421.52380.05356.77299.40
Book Value[Incl.RevalReserv]/Share (Rs.)498.67421.52380.05356.77299.40
Revenue From Operations / Share (Rs.)11504.768234.378748.416624.685952.83
PBDIT / Share (Rs.)53.4841.2938.1652.7163.05
PBIT / Share (Rs.)50.0738.2135.0950.2560.53
PBT / Share (Rs.)50.0735.1730.2742.7245.58
Net Profit / Share (Rs.)48.5134.1828.6140.8443.76
NP After MI And SOA / Share (Rs.)48.5134.1828.6140.8443.76
PBDIT Margin (%)0.460.500.430.791.05
PBIT Margin (%)0.430.460.400.751.01
PBT Margin (%)0.430.420.340.640.76
Net Profit Margin (%)0.420.410.320.610.73
NP After MI And SOA Margin (%)0.420.410.320.610.73
Return on Networth / Equity (%)9.728.107.5211.4414.61
Return on Capital Employeed (%)9.949.009.1513.9419.72
Return On Assets (%)6.264.213.593.924.48
Total Debt / Equity (X)0.040.060.090.120.70
Asset Turnover Ratio (%)20.950.370.101.991.91
Current Ratio (X)2.441.871.721.391.33
Quick Ratio (X)1.681.201.111.161.13
Inventory Turnover Ratio (X)104.841.550.7020.4735.70
Dividend Payout Ratio (NP) (%)0.002.923.492.440.00
Dividend Payout Ratio (CP) (%)0.002.683.152.300.00
Earning Retention Ratio (%)0.0097.0896.5197.560.00
Cash Earning Retention Ratio (%)0.0097.3296.8597.700.00
Interest Coverage Ratio (X)0.0013.557.917.004.21
Interest Coverage Ratio (Post Tax) (X)0.0012.226.936.423.93
Enterprise Value (Cr.)16622.6919395.0513096.204498.0410803.73
EV / Net Operating Revenue (X)0.040.070.050.020.06
EV / EBITDA (X)10.5315.9111.622.895.80
MarketCap / Net Operating Revenue (X)0.050.080.050.080.11
Retention Ratios (%)0.0097.0796.5097.550.00
Price / BV (X)1.221.641.261.522.22
Price / Net Operating Revenue (X)0.050.080.050.080.11
EarningsYield0.070.040.050.070.06

Rajesh Exports Ltd Profitability Ratios (%)

Rajesh Exports Ltd Liquidity Ratios

Rajesh Exports Ltd Liquidity Ratios (%)

Rajesh Exports Ltd Interest Coverage Ratios (X)

Rajesh Exports Ltd Valuation Ratios

Fair Value / Intrinsic Value of Rajesh Exports Ltd

Fair Value: ₹711.89

The stock is undervalued by 119.04% compared to the current price ₹325

*Investments are subject to market risks

Strength and Weakness of Rajesh Exports Ltd

StrengthWeakness
  1. The stock has a low average Working Capital Days of -9.55, which is a positive sign.
  2. The stock has a low average Cash Conversion Cycle of -12.45, which is a positive sign.
  3. The company has higher reserves (8,196.08 cr) compared to borrowings (3,267.83 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (187.25 cr) and profit (210.17 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 46.83 and average Dividend Yield of 0.61%.
  2. The stock has a low average ROCE of 12.27%, which may not be favorable.

Should I Buy Rajesh Exports Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Rajesh Exports Ltd:
    1. Net Profit Margin: 0.42%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 9.94% (Industry Average ROCE: 11.22%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): 0.00
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 1.68
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✓ Stock P/E: 13.1 (Industry average Stock P/E: 176.1)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✓ Total Debt / Equity: 0.04
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

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