Rajesh Exports Limited is an Indian multinational gold retailer headquartered in Bangalore, Karnataka. The company refines, designs, and sells gold and jewelry. It was ranked 7th on the Fortune India 500 list in 2022, with revenues of 2.90 trillion,[3] and 462nd in the Fortune Global 500. The present managing director is Prashant Mehta and the executive chairman is Rajesh Mehta.[4]

Rajesh Exports Limited
Company typePublic
BSE531500
NSERAJESHEXPO
ISININE343B01030
IndustryMining
Refining
Retail
Founded01 February 1995 (01 February 1995)
Headquarters,
Key people
Rajesh Mehta
(Executive Chairman)
ProductsGold
Jewelry
Precious metals
RevenueIncrease 258,308.22 crore (US$31 billion) (2021)[1]
Decrease 1,036.20 crore (US$120 million) (2021)[1]
Decrease 844.87 crore (US$100 million) (2021)[1]
Total assetsDecrease 23,472.80 crore (US$2.8 billion) (2021)[1]
Total equityIncrease 11,221.38 crore (US$1.3 billion) (2021)[1]
Number of employees
1409 (March 2019) [2]
Websitewww.rajeshindia.com

History

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The company was founded in 1989[5] as Rajesh Exports Limited by Rajesh Mehta and his brother Prashant Mehta both born in a middle class Jain family.[6] The brothers started manufacturing in a ten-person shop located in their garage in Bangalore.[6]

By 1990, the company opened a retail front and rapidly expanded.[6]

In 2001, the company built a large manufacturing facility in Bangalore.[6]

In 2011, the company raised $134.9 million by converting the Foreign currency convertible bonds they had issued in 2007.[7]

In 2015, the company acquired the largest gold refiner in the world, Valcambi of Balerna, Switzerland, for $400 million.[8] Now they are planning to expand their Shubh Jewellers retail store.[9]

See also

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References

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  1. ^ a b c d e "Balance Sheet 31.03.2020". rajeshindia.com (4 January 2019).
  2. ^ https://rajeshindia-production.s3.amazonaws.com/uploads/annual_report/file/15/Rajesh_Exports_AR_2018-2019.pdf [bare URL PDF]
  3. ^ "Rajesh Exports - Fortune 500 List 2020 - Fortune India". www.fortuneindia.com. Retrieved 12 January 2021.
  4. ^ "Rajesh Exports | About Us | Management | Gold and Diamond Jewellery Manufacturer". www.rajeshindia.com. Retrieved 12 January 2021.
  5. ^ "Rajesh Exports Limited: Private Company Information". Bloomberg. 30 September 2017. Archived from the original on 16 December 2017. Retrieved 15 December 2017.
  6. ^ a b c d "The gold rush: How Rajesh Mehta's out of the box ideas helped him build his jewellery empire". Forbes India. 14 December 2016. Archived from the original on 25 October 2018. Retrieved 15 December 2017.
  7. ^ "Rajesh Exports raises $134.9 million through FCCBs". @businessline. 3 November 2011. Retrieved 5 November 2020.
  8. ^ "Rajesh Exports buys Swiss gold refiner for $400m". The Times of India. 28 July 2015. Archived from the original on 10 September 2018. Retrieved 31 January 2019.
  9. ^ "Rajesh Exports MD eyes bigger pie in retail sector, plans expansion of Shubh Jewellers stores - News Hour". News Hour. 7 July 2018. Archived from the original on 18 August 2018. Retrieved 18 August 2018.