Rajesh Exports: Auditor's Report

The points raised by the auditors have been addressed by the management in MDA section and the explanation seems to be acceptable!

However, the practice of accounting for gratuity in cash, raises concerns over the future liablity of gratuity which is not presently ascertainable?

Rajesh Exports: Corporate Governance

Philosophy

Accountability improves decision-making and transparency helps to explain the rationale behind decision-making and reinforces the shareholders' confidence in the company.

Board of Directors

Executive: 2
Non-executive: 3

Board Meetings

Number of Board Meetings: 20
Maximum Board Meeting where all are present: 14

Committees

1. Audit committee
2. Shareholders and Investor Grievance committee

Remuneration to Directors

Executive Directors: Rs.1,20,000/- per annum
Non-executive Directors: nil

Special resolutions

2005: Preferential allotment of 19,48,000 equity shares to Bennett, Coleman & Co Ltd.
2007: Raising of USD 150 million in the overseas market through FCCB

Dividend

Recommended Dividend: 35%

Stock Price

Stock Price (Year High): Rs.510/-
Stock Price (Year Low): Rs.67/-

Shareholding Pattern

Promoters: 54%
FIIs: 17%
Corporates: 7%
Public/Mutual Funds: 21%
NRI's: 0.3%