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Rajesh Exports gains on securing a deal worth Rs 691 cr from Germany

Capital Market 

Rajesh Exports rose 1.40% to Rs 621.40 after the company bagged a order worth Rs 691 crore of designer range of jewellery from Germany, to be executed by December 2021.

Rajesh Exports will be executing the order from its own manufacturing facility, which possess a processing capacity of 250 tons of jewellery and gold products per annum. The company had introduced new designs in the international markets which constitute a new range of jewellery and hence, expects significant orders for this range of jewellery from the international markets.

Rajesh Exports' consolidated net profit surged 83% to Rs 278.43 crore on a 10.5% rise in net sales to Rs 50,897.02 crore in Q1 FY22 over Q1 FY21.

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.

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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: Fri, September 17 2021. 10:48 IST