Ahmedabad, India – January 28, 2025: Rushil Decor Limited (NSE: RUSHIL, BSE: 533470), a leading manufacturer of laminates, MDF, and PVC boards, has announced its unaudited standalone and consolidated financial results for Q3 FY2024-25. The company reported a net profit of ₹115.12 million and total revenue of ₹2,103.92 million. The company also provided updates on its preferential issue proceeds utilization.
Key Financial Highlights – Q3 FY2024-25 (Standalone)
- Revenue from Operations: ₹2,103.92 million (YoY decline of 1.3% from ₹2,131.19 million)
- Total Income: ₹2,136.30 million
- Profit Before Tax (PBT): ₹154.98 million
- Net Profit (PAT): ₹115.12 million (YoY increase of 1.3% from ₹113.60 million)
- Earnings Per Share (EPS): ₹0.42 per share.
Nine-Month Performance (April – December 2024) (Standalone)
- Total Revenue: ₹6,625.25 million (YoY increase of 8.5% from ₹6,105.44 million)
- Profit Before Tax (PBT): ₹475.92 million (YoY increase of 4.8% from ₹453.96 million)
- Net Profit (PAT): ₹354.22 million
- Earnings Per Share (EPS): ₹1.30 per share.
Segment-Wise Performance
- Laminates & Allied Products: Revenue at ₹499.21 million
- Medium Density Fiberboard (MDF): Revenue at ₹1,556.75 million
- Polyvinyl Chloride (PVC) Board: Revenue at ₹78.13 million.
Strategic Developments & Key Announcements
- Preferential Issue Utilization Update:
- ₹1,226.61 million was raised through the preferential issue of convertible warrants.
- ₹609.10 million utilized as of December 31, 2024, primarily for:
- Decorative laminates manufacturing project at Mansa – ₹522.00 million.
- MDF plant machinery & civil work – ₹53.70 million.
- General corporate purposes – ₹33.40 million.
- Stock Split:
- Shares subdivided from ₹10 per share to ₹1 per share, effective August 9, 2024.
- Expansion in the Singapore Market:
- A New wholly owned subsidiary, Rushil Decor Pte. Ltd., was established in Singapore to expand its international footprint.
- Incentives & Operational Efficiency:
- Received ₹44.42 million under the Andhra Pradesh Industrial Development Policy as power cost reimbursement.
Management Commentary
Krupesh Thakkar, Chairman of Rushil Decor Limited, stated:"Despite minor revenue fluctuations, our steady profitability and strategic expansions position us for long-term growth. The Singapore subsidiary and MDF plant investments are pivotal for our future expansion.".
Market Outlook & Investor Takeaways
- Expanding product portfolio and global market presence through a new subsidiary in Singapore.
- Operational efficiencies and government incentives driving margin improvements.
- Steady financial performance reinforcing investor confidence.