Rajesh Exports denies SEBI findings, says co's financials not inflated
This story was originally published at 14:19 IST on 4 June 2026
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--Rajesh Exports says SEBI order is interim, no adverse conclusion so far
--Rajesh Exports: Revenues declared are correct, not overstated
--Rajesh Exports: Seems some communication gap between SEBI, co
MUMBAI – Rajesh Exports Ltd. Thursday claimed revenues reported by the company were not inflated. The clarification comes after the Securities and Exchange Board of India Wednesday issued an order against the company accusing it of misrepresenting most of its revenues.
The company said in a filing that there was a communication gap between SEBI and the company, and it would clarify all aspects to SEBI by submitting all the required and relevant documents. SEBI, in its interim order, said the company had not provided all the relevant documents during the initial investigation.
"The company is confident that SEBI in its wisdom will clarify the situation and arrive at the correct conclusion based on the authenticated documents which are in the process of submission by the company," the filing said. Rajesh Exports is planning to issue clarification to media soon.
Wednesday, SEBI passed an interim order prima facie finding discrepancies with the company's consolidated and standalone financial statements for financial year 2020-21 (Apr-Mar) and FY25. SEBI also barred the company's promoter and Executive Chairman Rajesh Mehta from dealing in securities of Rajesh Exports over his involvement in presenting inflated figures of the company's financials.
After the SEBI order, shares of Rajesh Exports hit the 5% lower circuit at INR 103.92 on the National Stock Exchange. For the March quarter, on a consolidated basis, the company reported net loss of INR 534.97 million on revenues of INR 2.37 trillion. End
Reported by Prateem Rohanekar
Edited by Akul Nishant Akhoury
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