Gold refiner and manufacturer Rajesh Exports, which recorded a revenue of Rs 3.4 lakh crore in FY23 and has a market value exceeding Rs 17,000 crore, has not disclosed its audit report and comparative cash flow statements when it announced its FY23 and Q4 results on May 30.

Share Market Live

NSE

According to a report by The Economic Times, a senior official from the company mentioned that the omission of the audit report filing was unintentional, but they are prepared to submit it if requested by the stock exchanges.

PL Venkatadri, a partner at BSD & Co, the statutory auditor for Rajesh Exports, confirmed to The Economic Times that the firm has signed and delivered the audit report. However, they are unaware of whether the company has filed it along with the results to the stock exchanges.

Last year Reliance Industries' subsidiary, Reliance New Energy, along with Ola Electric and Indian jewellery maker Rajesh Exports, officially signed the final agreements on Friday to participate in the Indian government's Rs 18,000 crore incentive program for the development of battery cells.

A press release from the Ministry of Heavy Industries said that private players are expected to create battery manufacturing capacity to the tune of 95 Gwh in addition to those allocated by the ministry under the PLI program.

The PLI scheme, 'National Programme on Advanced Chemistry Cell (ACC) Battery Storage', was approved by the Union Cabinet in May 2021 with an outlay of Rs 18,100 crore for the manufacturing of 50 gWh of ACC and 5 gWh of Niche ACC.

Additionally, Elest, an entity owned by jewellery exporter entered into an agreement last year with Telangana to establish a display fab facility. This venture involves a significant capital outlay of Rs 24,000 crore and is a notable milestone for India's Semicon India scheme, which aims to foster the growth of the semiconductor industry in the country. This facility will be the first of its kind in Telangana, representing a significant step forward in India's display fab capabilities.

Shares of Rajesh Exports closed at Rs 565 down 1.81 percent from the previous close on the BSE.