Rajesh Exports

Rajesh Exports Limited

Type	Public
Traded as	BSE: 531500, NSE: RAJESHEXPO
Industry	Gems & jewellery
Founded	1989 (1989)[1]
Founder	Rajesh Mehta
Headquarters	Bengaluru, Karnataka, India
Area served	Worldwide
Key people	Rajesh Mehta (Executive Chairman) Prashant Mehta (MD)[2]
Revenue	₹242,132.45 crore (US$38 billion) (2017)[2][3]
Profit	1,245.90 crore Rs 2017
Total assets	₹9,887.45 crore (US$1.5 billion) (2016)[2][3]
Website	www.rajeshindia.com

Rajesh Exports Limited ( REL) is a leading gold manufacturing company headquartered in Bangalore, India. Rajesh Mehta, the founder of REL, incorporated the company in 1989. REL produces more than 35% of the world’s gold. It is also the largest Indian gold exporter. A global leader in the gold business, REL functions across the entire value chain of gold from refining to retailing. REL got featured in the 2016 Fortune Global 500 list ^[4] for being one of the world’s largest corporations.

About the Company

Rajesh Mehta, the founder and chairman of Rajesh Exports Limited, used to help his father in their family business of precious stones. After grabbing a considerable amount of experience, Rajesh Mehta along with his brother Prashant Mehta (the Managing Director of REL), sought a loan of Rs 1,200 from elder brother Bipin Mehta. Prashant and Rajesh used that money to buy silver jewellery from Chennai, which they sold in Gujarat. This profitable business established a base for REL. Later, the brothers moved to gold.

Rajesh Exports Limited was incorporated in 1989, when Rajesh Mehta found a loophole in the Gold Control Act. ^[5] This loophole motivated him to export gold products to other countries, such as Oman, Kuwait, The United Arab Emirates, The United States of America, and several European countries. Currently, REL is headquartered in Bangalore and its operations are spread across the entire value chain of gold production. This includes mining, refining, manufacturing, retail, wholesale, and exports. The company is listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

The company stepped into the arena by establishing India’s first gold jewellery manufacturing ^[6] facility in 1990. A year later, they also established a research and development facility. In the early 2000s, the world’s largest gold jewellery manufacturing facility was constructed. The launch of Shubh Jewellers in 2012 is considered a game-changing move by REL. ^[7] As many as 80 Shubh Jewellers showrooms were opened in Karnataka within two years of the brand’s launch. ^[8]

The highlight of REL’s achievement can be considered as the acquisition of Valacambi, ^[9] the world’s largest gold refinery in Switzerland. Valacambi has the capacity to produce 400 tonnes of small-sized gold bars and 500 tonnes of kilo bars annually. The gold bars are London Bullion Market Association-certified.

The turnover of Rajesh Exports Limited for the financial year 2016 was Rs 1,61,000 crore. ^[10] It is the largest gold processing company in the world that handles 35% of the world’s gold. It also has the world’s largest active jewellery design database with over 29,000 jewellery designs.

Management

Executive Chairman: Rajesh Mehta

Managing Director: Prashant Mehta

Non-Executive & Independent Director: Venu Madhava Reddy

Non-Executive & Independent Director: Shankar Prasad

Non-Executive & Independent Director: Vijaya Lakshmi

Chief Financial Officer: Vijendra Rao

Company Secretary: Stuti Agrawal ^[11]

Awards

1995-2005

• Five Export Excellence Awards by the Jewellers Association

• Four Outstanding Export Performance Awards for Plain Gold Jewellery by the Gem and Jewellery Export Promotion Council

• Three Outstanding Export Performance Awards for Studded Gold Jewellery by the Gem and Jewellery Export Promotion Council

• Three State Export Excellence Awards by the Government of Karnataka

• Two Export Excellence Awards by Canara Bank

• The Certificate of Merit for first position in Plain Gold Jewellery Exports by the Gem and Jewellery Export Promotion Council

• The Certificate of Merit for third position in Plain Precious Metal JewelleryExports by the Gem and Jewellery Export Promotion Council

• The Overall Excellence Award for Plain Gold Jewellery by the Gem and Jewellery Export Promotion Council

• The Niryat Shree Gold Trophy by the Federation of Indian Export Organizations (Gems & Jewellery)

2006 till present

• Four State Export Excellence Awards by the Government of Karnataka

• Four Export Excellence Awards by the Jewellers Association

• Three Star Exporter Awards for Manufacturer Category by the Federation of Karnataka Chambers of Commerce & Industry

• Two Special Recognition Certificates by Federation of Karnataka Chambers of Commerce and Industry

• Two Overall Excellence Awards for Plain Gold Jewellery by the Gem and Jewellery Export Promotion Council

• Two Swarna Ratna Awards by the Jewellers Association

• Overall Excellence Award for Plain Precious Metal Jewellery by the Gem and Jewellery Export Promotion Council

• The Niryat Shree Silver Trophy by the Federation of Indian Export Organizations (Highest Foreign Exchange Earner)

• The Niryat Shree Bronze Trophy by the Federation of Indian Export Organizations (Gems &Jewellery)

• The Best Indian Export Oriented Unit (EOU) Award by the Export Promotion Council for EOUs and SEZ's

• The Best Indian Special Economic Zone (SEZ) Award by the Export Promotion Council for EOUs and SEZ's

• The Best Manufacturer & Exporter Award by Federation of Karnataka Chambers of Commerce and Industry

• The Excellence Award by State Bank of India

• The Rotary Business Trendsetter Award by Rotary Bangalore Peenya

• The Jain Bhushan Award by Jain Social Groups International Federation

• Highest Jewellery Exports Award from Kerala by Kerala Gem and Jewellery Show ^[12]

References