Rajesh Exports Share Price in Focus on 4 June 2026 After SEBI Flags Rs 15.15 Lakh Crore Revenue Misrepresentation in Accounts

Rajesh Exports share price is in sharp focus on 3 June 2026 after SEBI passed a 109-page interim ex-parte order against the Bengaluru-based gold jewellery and refining company and its Chairman and Managing Director Rajesh Mehta, alleging one of the most extraordinary cases of financial misrepresentation in recent Indian corporate regulatory history. The Rajesh Exports share price closed at Rs 109.38 on June 3, 2026, even as SEBI’s order, issued by Whole Time Member Kamlesh Chandra Varshney, alleged that the company had misrepresented consolidated revenues aggregating approximately Rs 15.15 lakh crore between FY2020-21 and FY2024-25, accounting for nearly 99.8 per cent of the company’s total reported consolidated revenue during the period.

Rajesh Exports share price has already been under severe pressure: the stock is approximately 54% below its 52-week high of Rs 237.88 and has declined approximately 46.85% in the past year. The SEBI order, announced after the June 3 market session, makes Rajesh Exports share price a critical watchlist name for June 4, as investors assess the scale of the alleged violations and any response from the company or its promoter.

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Rajesh Exports Share Price and Company Data: June 3, 2026

Parameter	Details
NSE Symbol	NSE:RAJESHEXPO
CMP (June 3 close)	Rs 109.38
52-Week High	Rs 237.88
52-Week Low	Rs 80.38
Market Cap	~Rs 3,230 crore
P/E Ratio (June 3)	97.39x
Promoter Holding	54.60%
FII Holding	14.30%
1-Year Return	-46.85%
6-Month Return	-42.97%
SEBI Order Date	June 3, 2026
SEBI Order Type	Interim ex-parte order (109 pages)
SEBI WTM	Kamlesh Chandra Varshney
Barred Person	Rajesh Mehta (CMD) — 3 years from dealing in REL securities
Consolidated Revenue Misrepresentation	~Rs 15.15 lakh crore (FY21-FY25, ~99.8% of total reported revenue)
Standalone Revenue Misstatement	Rs 12,557 crore (FY21-FY24)
Derivative Transactions Recorded as Company Sales/Purchases	Rs 11,487 crore (sales) / Rs 11,488 crore (purchases)

What Did SEBI Find in the Rajesh Exports Accounts?

The Rajesh Exports share price is reacting to five specific categories of alleged violations detailed in SEBI’s 109-page interim order. The most sweeping allegation is that Rajesh Exports misrepresented consolidated revenues of approximately Rs 15.15 lakh crore between FY2020-21 and FY2024-25, representing nearly 99.8 per cent of the company’s total reported consolidated revenue for the period. This means, according to SEBI, that virtually the entirety of Rajesh Exports’ reported consolidated revenue over five fiscal years was not genuine. SEBI stated that this created a misleading picture of the company’s operational scale, financial position, and overall business health before investors and the securities market.

The second allegation directly tied to Rajesh Exports share price concerns standalone financials: SEBI alleged that standalone revenues were misstated by Rs 12,557 crore during FY21-FY24. The third and most specific allegation relates to CMD Rajesh Mehta’s personal trading: SEBI claimed that derivative transactions undertaken by Mehta in his personal account, through stockbroker Affluence Shares and Stocks, were recorded in Rajesh Exports’ books as company sales and purchases amounting to more than Rs 11,487 crore each. In effect, Mehta’s personal derivative positions were allegedly disguised as corporate gold jewellery trading transactions. The fourth and fifth categories involve exchange fluctuation gains/losses and mutual fund/fixed deposit interest income being incorrectly classified as revenue from operations.

How Did the SEBI Order Affect the Rajesh Exports Share Price?

The SEBI order was announced after June 3’s regular market session had closed, with Rajesh Exports share price closing at Rs 109.38. The Rajesh Exports share price had already been declining for several months: the stock hit lower circuits multiple times, including on April 30, 2026, and had been locked at upper circuits during brief relief rallies in May 2026. The stock’s one-year decline of approximately 46.85% and its 52-week low of Rs 80.38 suggest that the market had been pricing in some level of fundamental concern even before the SEBI order. The full impact on Rajesh Exports share price will be visible from June 4, 2026, when markets open with the SEBI order now public.

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About Rajesh Exports

Rajesh Exports Limited, founded in 1989 and headquartered in Bengaluru, is an Indian multinational gold retailer and the world’s largest gold refiner, claiming to process approximately 35% of gold produced globally. The company operates across the entire gold value chain from refining to retailing, with its retail brand Shubh Jewellers operating across India. The company has 29.52 crore equity shares outstanding and is listed on both NSE and BSE (BSE code: 531500). Before the SEBI order, Rajesh Exports reported consolidated revenues in the range of tens of thousands of crores, which, if the SEBI allegations are substantiated, would need to be restated materially.

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Conclusion

Rajesh Exports share price at Rs 109.38 (June 3 close) will be in sharp focus from June 4 following SEBI’s 109-page interim ex-parte order alleging Rs 15.15 lakh crore consolidated revenue misrepresentation, CMD Rajesh Mehta’s three-year bar from dealing in the company’s securities, and evidence of derivative transactions in Mehta’s personal account being recorded as company transactions. Investors should await the company’s official response to the SEBI order, any court proceedings, and auditor communications before drawing conclusions on Rajesh Exports share price trajectory. This is a serious regulatory development. This does not constitute investment advice.

Investments in securities are subject to market risk. This content is for educational purposes only and does not constitute investment advice.

Frequently Asked Questions on Rajesh Exports Share Price and SEBI Order

Why is Rajesh Exports share price in focus on 3 June 2026?

Ans. Rajesh Exports share price is in focus on 3 June 2026 because SEBI passed a 109-page interim ex-parte order against the company and its Chairman and Managing Director Rajesh Mehta, alleging large-scale financial misrepresentation aggregating approximately Rs 15.15 lakh crore in consolidated revenues between FY2020-21 and FY2024-25. This amount represents nearly 99.8 per cent of the company’s total reported consolidated revenue during the period. SEBI has barred Rajesh Mehta from dealing in Rajesh Exports securities for three years. The Rajesh Exports share price closed at Rs 109.38 on June 3, 2026, with the 52-week high at Rs 237.88 and 52-week low at Rs 80.38.

What exactly did SEBI allege in the Rajesh Exports order?

Ans. In the Rajesh Exports case, SEBI Whole Time Member Kamlesh Chandra Varshney’s 109-page order alleged five categories of violations. First, the company misrepresented consolidated revenues of approximately Rs 15.15 lakh crore between FY21 and FY25, accounting for nearly 99.8 per cent of total reported consolidated revenues. Second, standalone revenues were misstated by Rs 12,557 crore during FY21-FY24. Third, derivative transactions undertaken by CMD Rajesh Mehta in his personal account through stockbroker Affluence Shares and Stocks were recorded as company sales and purchases amounting to more than Rs 11,487 crore each. Fourth, exchange fluctuation gains and losses were incorrectly classified as revenue. Fifth, interest income from mutual funds and fixed deposits was booked as revenue from operations.

What action has SEBI taken against Rajesh Exports and its CMD?

Ans. SEBI has passed an interim ex-parte order against Rajesh Exports Limited and its Chairman and Managing Director Rajesh Mehta on June 3, 2026. Rajesh Mehta has been barred from dealing in Rajesh Exports’ securities for a period of three years. The order is interim in nature, meaning it is passed without hearing the other party first, and further proceedings will follow. The SEBI investigation found prima facie evidence of a multi-year pattern involving non-genuine transactions, improper accounting practices, diversion of company funds through promoter-linked entities, and inadequate disclosures to investors. The 109-page order was issued by SEBI WTM Kamlesh Chandra Varshney.

What is the Rajesh Exports share price 52-week range?

Ans. The Rajesh Exports share price 52-week high is Rs 237.88 and the 52-week low is Rs 80.38 as of June 3, 2026. The Rajesh Exports share price closed at Rs 109.38 on June 3, 2026, which is approximately 54% below the 52-week high of Rs 237.88. The stock has been under pressure for several months, having declined approximately 46.85% in the past year and 42.97% in the past six months before the SEBI order. The PE ratio is 97.39x as of June 3, 2026, indicating the stock trades at elevated multiples relative to its earnings. The market capitalisation is approximately Rs 3,230 crore.

What does the Rs 15.15 lakh crore misrepresentation mean for Rajesh Exports?

Ans. The alleged Rs 15.15 lakh crore revenue misrepresentation in consolidated financials is an extraordinary figure: it represents nearly the entirety of Rajesh Exports’ reported consolidated revenue for FY21-FY25. SEBI’s prima facie finding suggests that the company’s reported consolidated revenues were not genuine for virtually the entire reported period. This would mean Rajesh Exports’ actual consolidated revenue base is a small fraction of what it reported, fundamentally altering the earnings, PE ratio, and valuation picture for the stock. The Rajesh Exports share price reaction will depend on the company’s response, any court stay on the SEBI order, and whether auditors are required to restate the financial accounts. This is a serious regulatory development. This does not constitute investment advice.

Should investors hold or sell Rajesh Exports share price given the SEBI order?

Ans. This article cannot and does not provide buy, sell, or hold advice on the Rajesh Exports share price. SEBI’s interim ex-parte order is at a preliminary stage and the company and promoter will have an opportunity to respond and present their case. The outcome of any subsequent regulatory, legal, or audit proceedings will significantly affect the Rajesh Exports share price going forward. Investors should exercise extreme caution, consult a SEBI-registered financial advisor, and monitor official exchange disclosures and court orders before making any decision related to the Rajesh Exports share price. This does not constitute investment advice.