Rushil Decor Posts Impressive Q1 FY25 Results: Revenue Soars 15.9%

Q1 FY25 Revenue from Operations at Rs. 2,235 Million; growth of 15.9%
Ongoing deleveraging with Net Debt/Equity at 0.45x as of Q1FY25
Capacity utilization for MDF Boards optimized at 91% in Q1FY25

AHMEDABAD, India, Aug. 2, 2024 /PRNewswire/ — Rushil Decor Limited (BSE: 533470) (NSE: RUSHIL), one of the leading suppliers of eco-friendly, sustainable MDF Boards, Laminates and Plywood, has announced its unaudited financial results for the quarter ended 30th June 2024.

Financial Performance for Q1 FY25: (₹ In Million)

Division Revenue: (₹ in Million)

Division Volume:

Business and operational Highlights for Q1 FY25:

Net Debt to Shareholder Equity at 0.45xBasic EPS of Q1 FY2025 is Rs. 4.61 and Diluted EPS is Rs. 4.06Added 56 new dealers and 58 new distributorsMDF Boards:Reported EBITDA of Rs. 210 million with an EBITDA margin of 12.4%.Price realization for per CBM in export and India are Rs. 20,276 and Rs. 23,720Capacity utilization optimized at 91%55% revenue of MDF boards contributed by value-added productsLaminates:Reported EBITDA of Rs. 43 million with an EBITDA margin of 9.1%.Price realization for per sheet in export and India are Rs. 680 and Rs. 508Capacity utilization for laminates was at 88%

Commenting on the performance, Mr. Krupesh Thakkar, Chairman & Managing Director, said:

“In the latest quarter, the company reported a substantial 15.9% year-over-year growth in revenue, reflecting a positive financial performance. Compared to the previous quarter, Profit after Tax margins increased to 5.5%, an improvement of 1.6%. We have also benefited an improvement in price realizations in our MDF Boards export markets, contributing positively to our overall financial results. Furthermore, our MDF value-added products have contributed positively in terms of revenue and profitability, by achieving 45% and 55% in quantity and value, respectively.”

“The expansion of our laminates division is progressing well, with the new facility for jumbo-size sheets set to commence operations by the third quarter of FY2025. We have received Board approval, for preferential funding amounting to Rs. 122.66 crores through the issuance of convertible warrants. To date, we have received 40% of the warrant funding amount, with 75% of the total funds being allocated to developing the new jumbo-sized laminate facility in Mansa, Gujarat. This facility is expected to produce an additional 2.8 million sheets, annually, positioning us well to meet increasing demand. Additionally, we are proceeding with the stock split at 10:1 ratio, to encourage wider participation from retail investors and enhance liquidity.”

“In alignment with our commitment to sustainability and corporate social responsibility, we are actively engaging in agroforestry initiatives. By encouraging agroforestry best practices, we aim to create a more sustainable supply chain for timber usage and ensure the long-term availability of raw materials. This holistic approach underscores our dedication to fostering sustainable growth and supporting the communities in which we operate.”

About Rushil Decor

Founded in 1993, Rushil Decor Limited is a globally leading company in modern interior infrastructure and eco-friendly composite wood panels. The company excels in setting industry benchmarks through innovative designs and advanced technology. Operating six cutting-edge manufacturing plants, Rushil Decor has an annual capacity of 3,30,000 CBM MDF and 3.49 million laminates, serving customers in over 53 countries. The company’s product range includes VIR Laminates, VIR MDF boards, VIR MAXPRO (HDFWR) boards, VIR Pre-laminated Decorative MDF/HDFWR boards, VIR Modala Ply, VIR PVC and VIR WPC boards/doors.

Rushil Decor’s commitment to quality, design excellence and customer-centricity distinguishes it in the market. Driven automated plants, world-class German technologies and global standards, Rushil Decor relentlessly creates smarter spaces. The company ensures optimal supply chain efficiencies and resource utilization. Strategic local plantations further enhance cost advantages in raw material sourcing, allowing Rushil Decor to meet global market demand effectively and sustainably.

Rushil Decor is one of India’s leading companies in the organized MDF Boards and Laminates segment:

1,200+ SKUs/Designs6 Distinct Brands650+ Direct Distributors4,450+ Retailers and Dealers3 Star Export Recognition3,000+ Workforce

Laminates
3 Units: Gandhinagar, Gujarat
Combined Capacity: 3.49 Mn sheets pa

MDF Boards
Unit 1: Chikmagalur, Karnataka
Capacity: 90,000 CBM pa
Unit 2: Vishakhapatnam, Andhra Pradesh
Capacity: 2,40,000 CBM pa

Plywood
Unit 1: Chikmagalur, Karnataka
Capacity: 300 Boards per day
51% Joint Venture

For more details, please visit: www.rushil.com

Rushil Decor

Hiren Padhya
Chief Financial Officer
Rushil Decor Limited
[email protected]

Churchgate Partners

Investor Relations
Rajiv Pandya | Abhishek Dakoria 
Churchgate Partners
+91 22 6169 5988
[email protected]

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward- looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

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