Rajesh Exports Ltd Share Price – NSE /  BSE

Diamond, Gems and Jewellery, Small Cap

The interim order stems from an investigation initiated following a shareholder complaint concerning the company?s financial reporting practices. SEBI appointed an investigating authority in October 2024 and subsequently engaged forensic auditor BDO to conduct an independent review of the company?s books and records.

According to SEBI?s preliminary observations, overseas subsidiaries, particularly the company?s Swiss refining subsidiary Valcambi, accounted for approximately 97?99% of consolidated revenue during the review period.

However, the regulator noted a significant divergence between revenues reported by Valcambi and the sales figures disclosed in the group?s consolidated financial statements. SEBI estimates the aggregate discrepancy at around Rs 15.15 lakh crore across FY21?FY25.

The regulator further stated that it was unable to independently verify the company?s reported investment of Rs 1,035 crore in African gold-mining assets.

SEBI?s order also cites several challenges encountered during the forensic review, including the alleged non-submission of key customer and vendor records, as well as the absence of financial statements for certain subsidiaries.

The regulator noted that the audit process was further complicated by incomplete documentation, inconsistencies in information provided, and limited cooperation during certain stages of the investigation.

The proceedings remain ongoing, and Rajesh Exports will have an opportunity to present its response before SEBI reaches a final conclusion.

Any final order may result in monetary penalties, disgorgement directives, or restrictions on access to the securities market.

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 markets and jewellery showrooms across India.

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Net loss of Rajesh Exports reported to Rs 53.50 crore in the quarter ended March 2026 as against net profit of Rs 1.95 crore during the previous quarter ended March 2025. Sales rose 18.91% to Rs 236864.21 crore in the quarter ended March 2026 as against Rs 199189.68 crore during the previous quarter ended March 2025.

For the full year,net profit rose 18.58% to Rs 112.50 crore in the year ended March 2026 as against Rs 94.87 crore during the previous year ended March 2025. Sales rose 84.05% to Rs 778716.04 crore in the year ended March 2026 as against Rs 423099.32 crore during the previous year ended March 2025.

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Net Loss of Rajesh Exports reported to Rs 17.09 crore in the quarter ended March 2026 as against net loss of Rs 16.29 crore during the previous quarter ended March 2025. Sales rose 27.48% to Rs 2441.10 crore in the quarter ended March 2026 as against Rs 1914.86 crore during the previous quarter ended March 2025.

For the full year,net profit rose 35.06% to Rs 32.09 crore in the year ended March 2026 as against Rs 23.76 crore during the previous year ended March 2025. Sales rose 30.76% to Rs 9188.81 crore in the year ended March 2026 as against Rs 7027.07 crore during the previous year ended March 2025.

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Rajesh Exports will hold a meeting of the Board of Directors of the Company on 30 May 2026.