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Business Standard
7 days ago
- Business
- Business Standard
MDF Blended Realisation up 4.5% Y-o-Y in Q1 FY26, Laminates Blended Realisation up 5.0% Y-o-Y in Q1 FY26
VMPL Ahmedabad (Gujarat) [India], August 12: Rushil Decor Limited ("Rushil Decor" or the "Company") (BSE: 533470 | NSE: RUSHIL), one of the leading suppliers of eco-friendly sustainable MDF Boards, Laminates and Plywood, has announced its unaudited consolidated financial results for the quarter ending 30th June 2025. Financial Performance for Q1FY26: Division Revenue: Division Sales Volume: Business and operational Highlights for Q1 FY2026: -Net Debt to Shareholder Equity at 0.4x -Consolidated Basic EPS of Q1 FY2026 is Rs. (0.49) and Diluted EPS is Rs. (0.49) -Added 90 retail distributors -MDF Boards: * Reported EBITDA of Rs. (73) million with an EBITDA margin of (5.9)%. * Price realization for per CBM in export and India are Rs. 21,476 and Rs. 24,238 * Capacity utilization at 58% - Laminates: * Reported EBITDA of Rs. 45 million with an EBITDA margin of 10.2%. * Price realization for per sheet in export and India are Rs. 719 and Rs. 545 * Capacity utilization at 83% Commenting on the performance Mr. Rushil Thakkar, Managing Director said: "During the first quarter of FY2026, Rushil Decor reported consolidated Revenue from Operations of Rs. 1,792 million. The quarterly performance was impacted by an unfortunate fire incident at the Andhra Pradesh MDF manufacturing facility on 9th April. I am relieved to report that there were no fatalities or injuries. Importantly, the fire occurred outside the main manufacturing premise and did not cause any damage to the core machinery or any inventory. Production was temporarily disrupted, resulting in a negative impact on our financial results, and resumed on 14th May. The earlier announced estimate of Rs. 7 crore relates to material damage at the site. The Company has adequate insurance coverage in place, which includes both material damage and loss of profit, and is already in the process of filing the insurance claim related to the incident. The MDF business reported revenue of Rs. 1,242 million in Q1 FY2026 as compared to Rs 1,692 million in Q1 FY2025. Although the loss of production over the 43 days shut down period which also includes 8 days of planned annual maintenance shutdown, resulted in reduced revenues and volume, the MDF business rapidly normalized. While total volumes were down, blended realizations improved by 4.5% YoY, driven by pricing discipline and product mix. The Laminates business reported revenue of Rs. 445 million in Q1 FY2026 as compared to Rs. 471 million in Q1 FY2025. The decline was primarily due to lower export volumes, which were down 16.9% YoY. However, blended realizations improved by 5.0% YoY, with export market realizations rising 5.7% YoY and Indian market realisation increasing 7.3% YoY, driven by selective price adjustments and a favourable product mix. During the quarter, commercial production commenced under Phase 1 of the Jumbo Laminates facility in Gandhinagar, Gujarat, with an annual installed capacity of 1.2 million sheets (if considered as 1 mm sheet of single side decorative Laminate). However, dispatches were deferred as the Company was in the process of securing mandatory certifications required for exports to key international markets such as Europe. With the certifications now in place and the machinery aligned to the targeted product mix, the Company is on track to begin dispatches from Q2 FY2026. Building on this momentum, we are focused on starting phase 2 the Project which will add another 1.6 million sheets of capacity by Q3 FY26. On the funding side, the Company received Rs. 930.4 million out of the total Rs. 1,226.6 million through the preferential allotment. A portion of warrants was forfeited due to non-conversion by some allottees for very particular reasons. However, this has not affected the progress of the Jumbo Laminates phase 2 expansion plan. As part of long-standing commitment to sustainability, Rushil Decor has successfully planted 24 million saplings across Andhra Pradesh, including in Anakapalli, Visakhapatnam, Vizianagaram and East Godavari districts. This initiative supports environmental preservation while empowering small and marginal farmers through agroforestry integration, technical assistance and subsidy-backed eucalyptus plantation programs. Looking ahead, while Q1 FY2026 was impacted by a one-off event, we expect Q2 FY2026 to reflect significantly improved performance compared with the same quarter in the prior year. This improvement will be driven by higher capacity utilization at the Andhra Pradesh MDF plant, along with increased contribution from value-added products, increased profitability in the PVC business and full quarter of revenue from jumbo laminates Phase 1. We remain focused on disciplined execution, improving operational efficiency and enhancing long-term value for all stakeholders." About Rushil Decor Founded in 1993, Rushil Decor Limited is a prominent Indian manufacturer in the wood panel industry, specializing in MDF boards, laminates, and recently expanding into plywood through a joint venture. The company offers a diverse range of over 1,200 designs under six distinct brands, serving applications in residential and commercial furniture, wall paneling, and architectural moldings. Its products are marketed under the well-recognized "VIR" brand. Rushil Decor operates six manufacturing facilities across India, strategically located near agroforestry zones in Karnataka and Andhra Pradesh, supporting sustainable production with over 140 million trees planted to date. The company ranks third in the Indian MDF market and is one of the largest organized manufacturers in this segment. It maintains a robust distribution network with over 700 distributors and 4,675 retailers, and exports to more than 57 countries. Key investment highlights include strong financial growth, increasing focus on value-added products, expanding export reach and significant capacity additions, including a new jumbo-size laminate facility targeting global markets. For more details, please visit:
Business Standard
07-07-2025
- Business
- Business Standard
Rushil Decor Limited's Green Initiative in Andhra Pradesh, A Commitment to Sustainability and Community Empowerment
VMPL Ahmedabad (Gujarat) [India], July 7: Rushil Decor Limited (NSE: RUSHIL, BSE: 533470), Rushil Decor Limited has long been a pioneer in promoting sustainability through its various impactful initiatives. The company has demonstrated its unwavering commitment to environmental preservation and community development through its Green Initiative in Andhra Pradesh. A Landmark Achievement in Tree Plantation One of the hallmark achievements of Rushil Decor Limited's Green Initiative is the successful planting of 24 million (2.4 crore) saplings across key districts in Andhra Pradesh, including Anakapalli, Visakhapatnam, Vizianagaram and East Godavari. These saplings are a crucial part of the company's broader strategy to combat environmental degradation and promote sustainable forestry practices. This ambitious plantation program not only focuses on increasing the green cover in these regions but also plays a key role in improving soil quality, enhancing biodiversity and mitigating the adverse effects of climate change. Commenting on the activity Mr Rushil Thakkar, Managing Director said "This initiative, centred on tree plantation and agroforestry, is a strategic effort to actively engage local communities and empower farmers through the adoption of sustainable agricultural practices. It is designed to deliver long-term environmental benefits while also enhancing rural livelihoods and contributing to economic resilience." Support for Farmers: Empowering Through Subsidies Understanding that small and marginal farmers form the backbone of rural India, Rushil Decor Limited has tailored its Green Initiative to include extensive support for local agricultural communities. By providing subsidy support to small and marginal farmers, the company ensures that these farmers have the resources to integrate eucalyptus clones into their agricultural practices. This is particularly valuable as eucalyptus trees offer both ecological and economic benefits. They contribute to soil conservation, enhance water retention, and improve land productivity. In addition to the subsidy support for farmers, Rushil Decor Limited actively encourages transport subsidies for both marginal and large farmers, which helps ease the distribution process of saplings and other essential resources. This reduces the financial burden on farmers, ensuring they can access quality planting materials and other inputs necessary for successful tree cultivation. Technical Assistance: Enhancing Agricultural Practices Rushil Decor Limited goes beyond financial support by offering comprehensive technical assistance to farmers, ensuring they are well-equipped to maximize the potential of their plantations. This includes the following key activities: 1. Agroforestry integration: Encourages eucalyptus clonal plantation with cash crops for economic and ecological benefits. 2. Farmer engagement and awareness Programs: Organizes farmer meetings and workshops to educate on the benefits, challenges, and best practices of Eucalyptus clonal cultivation. 3. Soil and plantation guidance: Educates farmers on soil suitability, soil specific clones selection, and the correct planting methods based on seasons. 4. Supply of high quality clones: Provides genetically improved, high-yielding, disease-resistant and standardized clones of Eucalyptus to farmers. 5. Training and capacity building: Conduct's training sessions on proper plantation techniques, maintenance, and harvesting practices to maximize sustainable yields. 6. On-Site sapling delivery: Ensures direct delivery of saplings to farmer's locations for convenience and efficiency. 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 56 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. For more details, please visit: Parin Shah AGM-Brand Management Rushil Decor Limited Rajiv Pandya / Abhishek Dakoria Churchgate Partners +91 22 6169 5988 rushil@
Business Standard
16-05-2025
- Business
- Business Standard
FY25 Revenue from Operations Reaches Rs. 8,979 Million, an Increase of 6.4 Percent Over the Previous Year
VMPL Ahmedabad (Gujarat) [India], May 16: Rushil Decor Limited (BSE: 533470. NSE: RUSHIL), one of the leading suppliers of eco-friendly sustainable MDF Boards, Laminates and Plywood has announced its Audited financial results for the quarter and year ended 31st March, 2025. Business and operational Highlights for Q4 FY202 - Net Debt to Shareholder Equity at 0.41x - Consolidated Basic EPS of Q4 FY2025 is Rs. 0.45 and Diluted EPS is Rs. 0.42 - Added 20 retail distributors - MDF Boards: * Reported EBITDA of Rs. 181 million with an EBITDA margin of 10.7%. * Price realization for per CBM in export and India are Rs. 21,961 and Rs.24,424 * Capacity utilization optimized at 81% - Laminates: * Reported EBITDA of Rs. 45 million with an EBITDA margin of 8.5%. * Price realization for per sheet in export and India are Rs. 681 and Rs. 701 * Capacity utilization for laminates was at 83% Commenting on the performance Mr. Rushil Thakkar, Managing Director said: "As FY2025 concludes, Rushil Decor has delivered a resilient performance despite a dynamic business environment. Consolidated revenue for FY2025 was INR 8,979 million, marking a 6.4% year-on-year growth, while Profit After Tax increased by 11.1% to INR 479 million. This performance reflects our disciplined strategy execution and operational efficiency. The MDF division continued to be a key growth driver, with revenue of INR 6,637 million, supported by a strong 42.8% year-on-year increase in export sales. Growing acceptance of our MDF products in international markets has further strengthened our global presence, leading to a 32.4% year-on-year increase in export volumes. Furthermore, our continued focus on value-added products remains central to our strategy for long-term margin improvement. The Laminates division also delivered a stable performance, recording revenue of Rs 1,989 million, driven by steady export demand. Commercial production at the Jumbo Laminates facility in Gandhinagar commenced in the month of April, 2025 under Phase 1, with an initial installed capacity of 1.2 million sheets per annum. We have already secured initial orders for exports accounting for 15% of this capacity, marking a promising start for the new facility. Furthermore, we are on track to commence the phase 2 production by the month of October this year. Despite the increase in industry MDF capacity from 2.3 million CBM to 3.5 to 4 million CBM over the past two years, we have maintained our market share, supported by strong brand recall and a customer-focused approach. Our distribution network continued to grow with the addition of new distributors and retailers throughout the year, further improving our market reach. We also closed FY2025 with a healthy net debt-to-equity ratio of 0.41x, reflecting our focus on maintaining a strong and stable financial position. As we look ahead to FY2026, we are aiming to cross Rs. 11,000 million in consolidated revenues. Additionally, we are committed to capitalizing on emerging opportunities across domestic and international markets, backed by focused execution, strategic capacity augmentation and customer-led innovation." 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 56 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. For more details, please visit: Hiren Padhya Chief Financial Officer Rushil Decor Limited Rajiv Pandya / Abhishek Dakoria Churchgate Partners +91 22 6169 5988 rushil@ 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.
