Rajesh Exports gets Rs 933 cr order from UAE jewelry firm

Jewelry manufacturer Rajesh Exports said it has won an order for jewelry worth Rs 933 Crores from a UAE-based firm.

The order is for its new design jewelry, and will be supplied from its manufacturing facility. It order has to be fulfilled by March.

The company had recently introduced new designs in the international markets which constitute a new range of jewellery. The company said it expects further significant orders for this range of jewellery from the international markets.

“The order has its special significance for the acceptance of the new range of jewellery introduced by the company in the global markets,” the Bangalore-based firm said.

It added that it has been getting “consistent order flow” from customers across the globe.

The company will be manufacturing the entire requirement of this order at its main manufacturing facility, which has a processing capacity of 250 tons of jewellery and gold products per year.

“The company is confident of executing this order well within the time frame,” it said.

Rajesh Exports Ltd. is the largest Manufacturer of gold products in the world and had revenue of $28 billon on a consolidated basis in FY18.

It is estimated to have the capacity to manufacture 400 tons of gold products per annum, including medallions and coins.

The company is estimated to process 35% of gold produced in the world and has its own mining, processing, manufacturing and retailing operations, even though the bulk of its revenue comes from its wholesale deals.