Rajesh Exports Limited (RAJESHEXPO.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-23350.5%

-₹11,469.45

vs ₹49.33 price

Levered DCF

₹162.36

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

—

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	21.1×	60.53×	25.44×	12.58×	20.22×	16.74×	13.41×	15.29×
P/B	0.14×	0.37×	0.56×	1.22×	1.64×	1.26×	1.54×	2.23×
P/S	0×	0.01×	0.03×	0.05×	0.08×	0.05×	0.08×	0.11×
EV / EBITDA	4.36×	19.36×	13.31×	10.68×	16.95×	12.47×	10.58×	13.97×
Gross margin	0.1%	0.1%	0.2%	0.6%	0.7%	0.6%	1.0%	1.3%
Operating margin	0.0%	0.0%	0.1%	0.5%	0.4%	0.4%	0.8%	1.0%
Net margin	0.0%	0.0%	0.1%	0.4%	0.4%	0.3%	0.6%	0.7%
Current ratio	1.19×	1.28×	2.78×	2.43×	1.87×	1.72×	1.39×	1.33×
Debt / equity	0.06×	0.06×	0.04×	0.05×	0.07×	0.09×	0.12×	0.72×
Interest coverage	0.33×	0.92×	2.31×	18.97×	12.1×	7.87×	6.66×	3.95×
Dividend yield	0.0%	0.0%	0.3%	0.1%	0.1%	0.2%	0.2%	0.1%
Payout ratio	0.0%	0.0%	8.8%	0.9%	2.9%	3.5%	2.4%	2.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.7%	0.6%	2.2%	9.7%	8.1%	7.5%	11.4%	14.6%
Return on invested capital	0.2%	0.6%	1.8%	9.6%	7.9%	8.6%	11.9%	11.0%
Return on assets	0.3%	0.3%	1.5%	6.3%	4.2%	3.6%	3.9%	4.5%
Free cash flow yield	18.2%	134.7%	2.9%	-1.4%	-0.5%	-72.7%	15.0%	16.4%
Earnings yield	4.7%	1.7%	3.9%	8.0%	4.9%	6.0%	7.5%	6.5%
Enterprise value	₹16.6B	₹55.2B	₹75.9B	₹177.2B	₹204.8B	₹140.4B	₹163.1B	₹258.5B
Net debt / EBITDA	-1.88×	-0.79×	-1.65×	-0.18×	0.06×	-0.09×	0.09×	3.29×
Cash conversion cycle (days)	1	2	12	10	13	10	-8	-6