One of the small-cap stocks engaged in the manufacturer of gold and gold products has jumped an intraday high of 7% after reporting September quarter results in 2024. The company’s revenue increased by 75.81 percent YOY to Rs. 66,923.67 crore, and net profit increased by 284.15 percent QOQ to Rs. 45.56 crore.
Stock movement:
After announcing its quarterly results, Rajesh Exports Limited’s share has jumped by 7.11 percent to an intraday high of Rs. 252.30 from the previous close of Rs. 235.55. The stock opened at Rs. 240.30 and is currently trading at Rs. 239.15.
The stock has been in bad limelight since the past year and has fallen 76.77 percent from its all-time high of Rs. 1029.70. The market capitalization now stands at approximately Rs. 7,061.14 crore.
Q2 FY25 Result Walkthrough:
Ahead of its quarterly results, Rajesh Exports Limited reported a significant year-on-year (YoY) increase in consolidated revenue from operations, rising by 75.81 percent from Rs. 38,065.91 crore in Q2 FY24 to Rs. 66,923.67 crore in Q2 FY25. On a quarter-on-quarter (QoQ) basis, revenue grew by 9.81 percent compared to Rs. 60,355.5 crore in Q1 FY25.
The company’s EBIT margin also showed remarkable YoY growth, increasing by 53 percent from Rs. 76.6 crore in Q2 FY24 to Rs. 50.1 crore in Q2 FY25. Consolidated net profit for Q2 FY25 rose by 0.55 percent YoY to Rs. 45.56 crore, up from Rs. 45.31 crore in the same quarter of the previous year. Compared to Q1 FY25, net profit saw a 284.15 percent increase from Rs. 11.86 crore.
Basic earnings per share (EPS) improved by 0.65 percent, reaching Rs. 1.54 in Q2 FY25, compared to Rs. 1.53 in the corresponding quarter of the previous year.
Regarding return ratios, the company’s return on equity (ROE) stands at 3.23 percent, while the return on capital employed (ROCE) is at 2.24 percent. Additionally, Rajesh Exports Limited maintains a debt-to-equity ratio of 0.05x, which shows an almost debt-free company.
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Future Plans of Rajesh Exports:
Rajesh Exports is aggressively expanding its international presence, targeting new markets beyond its current 60-country export network. The company plans a substantial ₹50,000 crore investment over seven years to establish itself in the electric vehicle sector.
The company is diversifying into technology manufacturing, with plans for a 5 GWh lithium-ion cell factory in Karnataka and a ₹24,000 crore investment in semiconductor display fabrication facilities under the Semicon India scheme. These initiatives align with India’s PLI program.
Shareholding pattern
In September 2024, Rajesh Exports Limited had a majority stake held by the promoters at 54.55 percent, foreign institutional investors at 14.81 percent, domestic institutional investors at 11.09 percent, and the public at 19.54 percent.
Company Overview:
Rajesh Exports Limited was founded in 1989 by the Mehta brothers, pioneers of India’s organized gold jewelry manufacturing sector. The company leads global gold retail through innovative manufacturing and R&D facilities. The company produces diverse gold products, establishing benchmarks in jewelry production nationwide.
Written By – Nikhil Naik
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