Rajesh Exports bags 9.33 billion (933 cr) rupees jewellery exports order from UAE

BENGALURU | MUMBAI | RAJKOT – In a regulatory filing submitted to the Exchanges in India, Rajesh Exports Ltd said of having bagged order from UAE pegged at 9.33 billion (933 crore) rupees, which shall be processed at Bengaluru facility of the company and is to be delivered by March 2019.

Rajesh Exports Ltd. (BSE: 531500, NSE: RAJESHEXPO) has procured a prestigious order for it’s products for a value of Rs. 933 Crores, the filing read.

The order has been procured beating global competition from a well established and prestigious global white label importer from UAE and is to be completed by March 2019, the filing said.

Rajesh Mehta, Chairman, Rajesh Exports Ltd. said,

“We have bagged a large order this month amid strong global competition which speaks volumes about the quality of our products, prompt execution and attractive pricing. We are delighted that the company has been witnessing consistent order flow from its customers across the globe. We have also been launching new products across different lines and at different price points in the retail segment, regularly, so that our customers have a wide range of products to select from to suit their price points.

Company will be executing the order from its manufacturing facility, which is the world’s largest gold manufacturing facility.

This facility has a processing capacity of 250 tons of jewellery and gold products per annum.

Company is confident of executing this order well within the time frame on the back of its expertise, skilled craftsmen, artisans & its exceptionally strong backward integrated infrastructure.

The company had introduced new designs in the international markets which constitute a new range of jewellery.

The order has its special significance for the acceptance of the new range of jewellery introduced by the company in the global markets.

The company expects further significant orders for this range of jewellery from the international markets.

The company will be manufacturing the entire requirement of this order at its own manufacturing facility and is confident of delivering the required order within the time frame based on the robust manufacturing infrastructure of the company.

Announcement from the company had hit the Indian Bourses, before the trading session for the day was to open on Wednesday, it will be indeed interesting to see how investors & traders react to the news of Rajesh Exports bagging new business order from UAE and what sort of impact it will make on the share price of the company.