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Rajesh Exports dazzles on bagging export order

Capital Market 

Rajesh Exports added 2.76% to Rs 494.40 after the company bagged an export order worth Rs 745 crore from Germany.

The company on Wednesday said it has bagged a first major order post Covid worth Rs 745 crore for designer range of gold jewellery from Germany. The order is to be completed by July 2021. The company will be executing the order from its own manufacturing facilities. The company said it is confident of executing this order well within the time frame.

Rajesh Mehta, chairman of Rajesh Exports said, "In this challenging time we are happy to inform that company has yet again got an overseas order which proves our efficiency in executing orders. During the pandemic we have very cautiously handled our business and have ensured that the Company does not suffer any losses, and have posted profits. The growth from quarter to quarter is improving and we would be able to post impressive top line and bottom line in the coming quarters."

Rajesh Exports is one of the largest manufacturers of gold products in the world. The company exports its products to various countries around the world and also supplies its products in wholesale market and jewellery showrooms across India. The company's consolidated net profit dropped 28.1% to Rs 227.64 crore on a 12.3% rise in net sales to Rs 45,586.42 crore in Q3 FY21 over Q3 FY20.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, April 07 2021. 14:27 IST