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Rajesh Exports not affected by Slowdown, gains high revenues
Led by Rajesh Mehta, Rajesh Exports Limited performs exceptionally well in the 3rd quarter of Financial Year 2019-20. Now it is aiming to expand its Shubh Jewellers retail store.
When the major industry giants are facing the cons of a market slowdown, Rajesh Exports’ growth rate is constantly increasing at a rapid pace and maintaining profitability.
Rajesh Exports Limited is the world’s largest gold refiner that has performed exceptionally well in the 3rd quarter of Financial Year 2019-20. The company’s consolidated net profit went up by 0.16% to Rs 316.46 crore in the December quarter of the current Financial Year.
The company was established in 1989 by the current executive chairman, Rajesh Mehta and his brother Prashant Mehta in Bangalore. In 2015, it acquired the largest gold refiner in the world, Valcambi of Balerna, Switzerland, for $400 million. Now it is aiming to expand its Shubh Jewellers retail store.
In the Financial year 2019, the company’s total income was noted at Rs 1,75,763 crore. The Gold retailer company refines, designs, and sells gold and jewelry. Rajesh Exports has maintained a good record in terms of profit generation. It is committed to coming up as a dominant retail force in the jewelry industry and is working constantly to increase profit by expanding the retail sector globally.
REL is working relentlessly to grow in the upcoming years both in terms of revenue and profit. In order to diversify, the company is planning to launch new products across different verticals to offer a wide variety to customers.
“There would be a big opportunity to move the gold business from the unorganized to organized space in many countries, including India and China, in the times to come. The organized segment has huge growth prospects. Growing consciousness of branded jewelry, increasing purchasing power in tier I & II locations, and increasing demand for diamond jewelry are major opportunities for the next 10-15 years,” said Rajesh Mehta, Chairman of REL.
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