Rushil Decor Q1 Results: Net Sales Up 15.91% To Rs 223.50 Cr; PAT Steady

One of the top providers of sustainable, eco-friendly MDF boards, laminates, and plywood, Rushil Decor Limited, has released its unaudited financial results for the quarter that ended on June 30, 2024.

The company reported net sales of Rs 223.50 crore in the June 2024 quarter up 15.91% from Rs. 192.82 crore in the June 2023 quarter.

Its standalone net profit stood at Rs. 12.31 crore in Q1FY25 up 0.95% from Rs. 12.20 crore in Q1FY24. The company said its EBITDA stood at Rs. 28.95 crore in the quarter under review, down 7.15% from Rs. 31.18 crore in the year-ago quarter.

The company's Q1 FY2025 basic EPS was Rs. 4.61 and its diluted EPS was Rs. 4.06. Its net debt to shareholder equity was 0.45x.

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-add 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-size 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 the wider participation from retail investors and enhance liquidity," he added.

"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," Krupesh Thakkar further stated.

Established in 1993, Rushil Decor Limited is a top-tier company in the world of eco-friendly composite wood panels and contemporary interior architecture.