Rajesh Exports Ltd

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. Powered by Capital Market - Live

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. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales236864.21199189.68 19 778716.04423099.32 84 OPM %-0.09-0.01 -0.010.04 - PBDT-25.763.18 PL 216.76152.26 42 PBT-39.90-8.32 -380 164.36106.87 54 NP-53.501.95 PL 112.5094.87 19 Powered by Capital Market - Live

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. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales2441.101914.86 27 9188.817027.07 31 OPM %-2.33-0.41 -0.951.48 - PBDT-21.00-20.61 -2 39.4129.70 33 PBT-21.23-20.77 -2 38.7529.08 33 NP-17.09-16.29 -5 32.0923.76 35 Powered by Capital Market - Live

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

Total income from operations climbed 143.29% YoY to Rs 2,35,098.27 crore in the quarter ended 31 December 2025. Profit before tax (PBT) for the quarter stood at Rs 65.47 crore in Q3 FY26, up 50.78% from Rs 43.42 crore reported in Q3 FY25. Total expenses jumped 143.29% to Rs 2,35,043.50 crore in Q3 FY26 over Q3 FY25. During the quarter, cost of raw materials consumed stood at Rs 2,34,937.05 crore, up 143.46% YoY, while employee benefits expense was at Rs 61.83 crore, up 56.29% YoY. 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. Shares of Rajesh Exports tanked 4.47% to Rs 170 on the BSE. Powered by Capital Market - Live

Net profit of Rajesh Exports rose 101.35% to Rs 71.48 crore in the quarter ended December 2025 as against Rs 35.50 crore during the previous quarter ended December 2024. Sales rose 143.30% to Rs 235098.28 crore in the quarter ended December 2025 as against Rs 96630.48 crore during the previous quarter ended December 2024. ParticularsQuarter EndedDec. 2025Dec. 2024% Var. Sales235098.2896630.48 143 OPM %0.050.07 - PBDT78.8554.93 44 PBT65.4843.42 51 NP71.4835.50 101 Powered by Capital Market - Live

Rajesh Exports will hold a meeting of the Board of Directors of the Company on 14 February 2026.Powered by Capital Market - Live

Net profit of Rajesh Exports rose 128.38% to Rs 104.05 crore in the quarter ended September 2025 as against Rs 45.56 crore during the previous quarter ended September 2024. Sales rose 161.81% to Rs 175211.76 crore in the quarter ended September 2025 as against Rs 66923.67 crore during the previous quarter ended September 2024. ParticularsQuarter EndedSep. 2025Sep. 2024% Var. Sales175211.7666923.67 162 OPM %0.100.11 - PBDT149.7865.87 127 PBT137.0254.37 152 NP104.0545.56 128 Powered by Capital Market - Live

However, revenue from operations surged 91% YoY to Rs 3,365.43 crore in the quarter ended 30 September 2025. On a sequential basis, the company's consolidated net profit rose 2.32%, while revenue increased 135.91%. Profit before tax (PBT) for the quarter stood at Rs 22.04 crore in Q2 FY26, down 5.1% from Rs 23.22 crore reported in Q2 FY25. On a half-year basis, the company's consolidated net profit rose 6.8% to Rs 35.71 crore on 92.2% increase in revenue to Rs 4,791.99 crore in H1 FY26 over H1 FY25. 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. The counter rose 1.33% to Rs 187.20 on the BSE. Powered by Capital Market - Live

Net profit of Rajesh Exports declined 8.51% to Rs 18.06 crore in the quarter ended September 2025 as against Rs 19.74 crore during the previous quarter ended September 2024. Sales rose 90.96% to Rs 3365.43 crore in the quarter ended September 2025 as against Rs 1762.41 crore during the previous quarter ended September 2024. ParticularsQuarter EndedSep. 2025Sep. 2024% Var. Sales3365.431762.41 91 OPM %1.462.58 - PBDT22.1923.39 -5 PBT22.0423.23 -5 NP18.0619.74 -9 Powered by Capital Market - Live