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Rajesh Exports Ltd. Company History and Annual Growth Details

The Company was established on 29/5/90 as a partnership firm in the name of M/s Rajesh Exports comprising of 3 partners with the objective of manufacture and export of Gold Jewellery. The firm was reconstituted as a joint stock Company on 25/1/95 and was registered as a Public Limited Company as Rajesh Exports Limited (hereinafter referred to as REL/Company) under part IX of the Companies Act, 1956 on 1/2/95 with the Registrar of Companies, Karnataka.

Presently, REL is exporting plain Gold jewellery and studded Gold jewellery mainly to USA, UK, Singapore and UAE.

The Company has within a short period of five years as a partnership firm grown from strength to strength and has registered excellent growth in exports. The exports have increased from Rs.247.89 lakhs as on 31.3.1991 to Rs.3537.06 Iakhs as on 31.3.1995 and the profits from
Rs.30.14 lakhs to Rs.394.04 lakhs. The average annual sales growth rate over the last five years is 114.08%.

In 1993-94 the Company resorted to a major change in its marketing orientation. The Company had till mid 1993 been exporting its products directly to the retail dealers. Unlike most commodities Gold products cannot be exported generally on sample and approval basis. In the event of any rejection by the importer the jewellery cannot be imported back to India under any circumstances. This gave the overseas retail importers a convenient situation to force their terms on the exporter after the arrival of the consignment. Apart from this the Company was hampered on several other counts such as poor volumes and higher costs of co-ordination in the orders, despatch and debit collections
etc.,

In order to overcome these problems the Company entered into strategic marketing alliances with certain key wholesalers in UAE, UK, Singapore and USA. Under the alliances the Company exported large consignments of
approved designs to be stocked and retailed widely at the respective centers. The Company was thus able to provide a larger variety of its products to its retailers readily. This ensured increased offtake and faster payments.

However, initially as the concept was new the Company had to effect price adjustments on sales to wholesalers in order to cover their holding costs. As such, though the Company could achieve a phenomenal jump in its turnover from Rs.1059 lakhs in 1992-93 to Rs. 2000 lakhs in 1993-94, the profitability was not commensurate with the increase.

The new marketing methods resulted in increased volumes and quick offtake from retailers. The consequent reduction in holding costs at the wholesaler level enabled the Company to restore its selling prices and thus improve the profit margin in 1994-95. The Company achieved a sales of Rs.3537 lakhs representing an increase of nearly 77% over 1993-94. The success of the new marketing thrust has encouraged the
Company to set up its own trading offices at UAE, UK, USA, Singapore and Germany. The Company has already identified the respective locations and has obtained necessary approval from Reserve Bank Of India vide their letter No.EC.BG.NO.2496/08.10.54/94-95 dated 7th April 1995 for setting up these trading offices.

The Company has received the following awards for its outstanding performance:-

Award for highest exports in studded Gold jewellery for the year 1993-94 from The Gem & Jewellery Export Promotion Council sponsored by Government of India.

"Best Exporters Award" in Gold Jewellery for the years 1992 - 93 and 1993 - 94 from Government of Karnataka.

The Company has also received Export House Status from Government of India.

The assets of the partnership firm have not been revalued any time in the past.

-Company has informed that the Company has been awarded for the highest exports in plain Gold Jewellery. The Company has been receiving this award consistently for the last nine years.

2004

-Rajesh Exports bags export order for a total value of 1090 million

-Rajesh Exports completes II Phase of the World's largest gold jewellery manufacturing facility

-Rajesh Exports bags Rs 1850 million order from Gold Star Jeweller

2005

-Rajesh Exports bags Rs. 1320 mn order from Excel Goldsmiths, UAE

-Company has splits its Face value of Shares from Rs 10 to Rs 2

2006

-Oyzterbay joins hand with Rajesh Exports.

-Rajesh Exports announces the Launch of Six new "LAABH" Retail Showrooms Nationwide

-Rajesh Exports enters realty market

2007

-Rajesh Exports announces the national launch of Laabh Jewellers.

2008

-The Company has issued Bonus Shares in the Ratio of 2:1.

- The Company has splits its face value from Rs2/- to Rs1/-.

2009

- Rajesh Exports board recommends Dividend of 60% on the equity shares

2010

- Rajesh Export - Update on Foreign Currency Convertible Bonds (FCCB)

- Rajesh Exports is eyeing to expand its business by making a debut in infrastructure development.

- Rajesh Exports Ltd (REL) Launches Seven More SHUBH Jewellers

-Rajesh Exports open 300 retail stores at a capex of over Rs 3,000 crore

-Company Enhancement of borrowing Powers from Rs.1000 crores to 3500 crores

2011

- Rajesh Expo - Launch of worlds first jewellery Service Center

-Rajesh Exports Ltd Announces Grand Opening of 25 New Shubh Jewellers showrooms in the state of Karnataka on Dhanteras (October 24, 2011)".

-Rajesh Exports wins Rs 621 crore order from Dubai-based Excel Gold Smiths

2012

- SHUBH Jewellers the retail brand of Rajesh Exports Ltd posts record retail sales during Akshaya Tritiya

- Rajesh Exports gains on credit refinance limit hike by RBI

- Rajesh Exports Ltd Announces Grand Opening of 20 New "SHUBH Jewellers shorooms in the state of Karnataka on Akshaya Tritiya (April 24, 2012)"

2013

-"Rajesh Exports Ltd announces the opening of its 82nd SHUBH Jewellers retail showroom at Belur, Karnataka".

-"Rajesh Exports Ltd announces the opening of its 81st SHUBH Jewellers retail showroom at Chennagiri, Karnataka".

-"Rajesh Exports Ltd announces the opening of its 81st SHUBH Jewellers retail showroom at Chennagiri, Karnataka"

-Rajesh Exports gets Rs 432 cr export order from UAE.

2014
--Rajesh Exports has bagged export order worth Rs 1350 crore of designer range of gold and diamond studded jewellery and medallions from Al Sultan Jewellery, UAE.
- "Rajesh Exports secures Rs. 1350 crores worth export order".
-Rajesh Exports bags export order worth Rs 1260 cr.

2015
-Rajesh Exports Ltd (REL) has bagged an export order worth Rs 1,780 crore from UAE-based Jamcelat Jewellery
-Rajesh Exports Ltd has bagged an export order worth Rs 732 & Rs.1152 crore from A1 Malek Jewellery, UAE
-Rajesh Exports Ltd has secured an export order worth Rs 1265 crore from Al Sultan Jewellery, UAE.
-Rajesh Exports Ltd has received Board nod to make acquisition/s in Europe in the range of USD 250 million to USD 500 million.
-Rajesh Exports Acquires Valcambi - World's Largest Gold Refinery
-Rajesh Exports has bagged an export order worth Rs 125 crores as an initial order of a special range of jewellery for the European markets

2016
-Rajesh Exports bags export order worth Rs 840 crores
-Rajesh Exports secures Rs. 1045 crores worth export order
-Rajesh Exports secures export order worth Rs 1188 crores
-Rajesh Exports gains over 3 pct on bagging new orders
-Rajesh Exports wins export order from Singapore
-Rajesh Exports bags order worth Rs 1,053 cr from UAE
-Rajesh Exports secures Rs. 653 crores worth export order
-Rajesh Exports Board approves acquisition in the Middle East
-Rajesh Exports bags export order worth Rs 1172 crores
-Rajesh Exports bags Rs 929 cr export order from UAE

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