MUMBAI (Commodity Online): India-based leading Gold jewellery maker and exporter, Rajesh Exports Ltd (BOM:531500) is going high with its current order book positions and robust recovery from the downturn witnessed last year.

The company today informed that Bombay Stock Exchange (BSE) that the company has come out unscathed from the recession, emerging stronger with highest ever cash on balance-sheet and a strong order book. The company capitalized on the economic downturn by climbing up the value chain into high value added products as well as further lowering its cost structure by backward integration, thus resulting in margin expansion, the company said in a filing with the BSE on Monday.

Rajesh Exports is one of the leading manufacturers of gold jewellery, coins and other gold products worldwide. According to the company statement, the core competency of the company lies in its ability to manufacture jewellery with less than half of industry norm of process wastages.

The company stocks gained on the Bombay Stock Exchange (BSE) after the announcement made in the morning trading hours. The stocks surged by over 2.3% to Rs.131.75 in the morning trades on BSE today. The stock has appreciated by almost 350% over past one year showing robust recovery in the company’s operations during past one year.

The company informed in the statement that it is actively considering inorganic route to expand its retail footprint. Currently, the company has retail presence with 25 stores spread across the country under the brand name of “Shubh Jewellers”.

In past twelve months, the company has developed more than 6000 new designs of jewellery, which have been very well received in the Indian and global markets, resulting in a current order book of over Rs.4600 crores.

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