It’s so interesting to share some interesting fact about Indian business sphere. India is undoubtedly going through a major economic slowdown from quite some time. Adding to the trouble is the latest Coronavirus outbreak that has impacted not only the Indian market but also economies across the globe. Amidst the slowdown gloom, one of the very few radiant points in India’s economy has been Rajesh Exports’ constant boom. The company has kept its momentum of growth high.
Short Story behind Indian Business by Rajesh Exports
Being the largest gold exporting company in India, Rajesh Exports is expected to perform better on the business front. The Bengaluru-based firm, without disappointing the expectations, reported an income of INR 1,75,763 crore in the financial year 2019. Thanks to its excellent performance in all three aspects of a business — export, wholesale, and retail, the company has given splendid profit after tax (PAT) and net revenue.
Leaving the net profit (which is under review) behind, the income tax paid by Rajesh Exports was 1292 crore, far better than the previous year’s 1265.7 crores. Rajesh Mehta, the chairman of Rajesh Exports, has termed 2018-19 as the year of multiple challenges in the jewellery sector. He has always been confident about the positive business growth and said, “But even in these challenging times, the company kept up its momentum of growth. The company was focusing its endeavours towards enhancing its presence in the retail space to assure increased profitability.”
According to Rajesh Mehta, the secret of success lies in the consistent efforts towards being the first company in the world with mining to consumer integration in a seamless manner. Ever since the company was founded in 1989, it has continued to see the rays of success. Along with its retail brand — Shubh Jewellers, which has more than 80 outlets across Karnataka, Rajesh Exports has also been a big success at the global stage in the gold refining business. After the company’s acquisition of Valcambi, the largest gold refinery in the world, global attention is again shifted to its business model that has inspired many.