Board of Rushil Decor Allots Equity Shares Upon Conversion of Warrants

Rushil Decor Ltd. has announced the allotment of 75,000 equity shares, each with a face value of Rs. 10, to two investors. This number will adjust to 750,000 shares with a face value of Re. 1 each following an upcoming share split. This allotment is a result of the conversion of 75,000 warrants from the total 41,30,000 warrants issued on December 23, 2023. The investors have fulfilled the payment of the remaining 75% of the issue price as stipulated by the warrant terms. The Company's Fund-Raising Committee approved this allotment on July 31, 2024.

On the day of the announcement, shares of Rushil Decor Ltd. saw a 2.96% surge, reaching an intraday high of Rs. 363.95 per share, up from the previous close of Rs. 353.50 per share. The stock's 52-week high is Rs. 406.7, while its 52-week low is Rs. 261.45.

In a recent development, Rushil Decor announced a split of its equity shares. The board has approved a subdivision ratio of 10:1, meaning each Rs. 10 equity share will split into ten shares of Re. 1 each. The record date for this split is set for August 9, 2024.

For the fourth quarter of FY24, Rushil Decor reported net sales of Rs. 233.43 crore in March 2024, a 9.12% increase from Rs. 213.92 crore in March 2023. However, the quarterly net profit dropped by 33.61%, from Rs. 13.56 crore in March 2023 to Rs. 9.00 crore in March 2024. The EBITDA for March 2024 stood at Rs. 31.13 crore, up 9.07% from Rs. 28.54 crore in March 2023. The earnings per share (EPS) decreased to Rs. 3.36 in March 2024 from Rs. 6.81 in March 2023.

Additionally, on March 19, 2024, Rushil Decor announced the incorporation of its subsidiary, Rushil Modala Ply Ltd. This subsidiary will focus on the manufacturing and sale of plywood and related products, complementing the main line of business of the parent company. The subsidiary's operations will align with Rushil Decor's existing product portfolio, enhancing its offerings in the laminate and MDF panel boards industry.

Rushil Decor Ltd., established in 1993, is a leading company in the laminate and MDF panel boards industry in India, with a global footprint spanning 51 countries. The company is renowned for its commitment to excellence and its passion for blending expertise with artistic design. Rushil Decor aims to create strong emotional connections with its customers through innovative designs and memorable experiences, always mindful of the total experience they intend to deliver.