Companies

Rajesh Exports bags ₹1,352 cr German order

Our Bureau Bengaluru | Updated on February 17, 2021

Rajesh Exports Limited has bagged an order post-Covid-19 worth ₹1,352 crore of designer range of gold jewellery from Germany. The said order is to be completed by March 31, 2021.

This is the first major order accepted by the company after the outbreak of a pandemic. Till recently, international passenger flights were not operating normally due to a constraint in shipping the goods (the goods are shipped through international passenger flights as valuable cargo). It was not viable to accept orders. Now since the international flights have achieved near normalcy, the company has started taking orders.

The company is confident that it will be able to reach it's pre-covid revenues and profitability in the coming quarters and would also be in a position to post impressive growth owing to the remaining pent up demand of the last three quarters, the company said, in a regulatory filing to the exchanges.

Rajesh Mehta, Chairman, Rajesh Exports Ltd said, “During the pandemic we have very cautiously handled our business and we have ensured that the company does not suffer any losses, we have been able to post profits even during the pandemic. The revenue and profits were significantly lower during the pandemic, which was a part of our thought out strategy of handling the business during the Pandemic.”

Rajesh Exports will be executing the order from its manufacturing facilities, and these plants have a processing capacity of 250 tonnes of jewellery and gold products per annum. The company is confident of executing this order well within the time frame on the back of its expertise, skilled craftsmen, artisans and its robust backward integrated infrastructure.

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Published on February 17, 2021
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