Rushil Decor Limited has informed the Exchange about Transcript of Con Call held on 11.08.2025
RUSHIL · price
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Rushil Decor's Q1 FY26 was hit by a fire at its Andhra Pradesh MDF plant in early April, which disrupted production for 43 days. Consolidated revenue fell 20.4% YoY to Rs. 179.2 crore, with the MDF segment reporting revenue of Rs. 124.2 crore (down 26.6% YoY) and a negative EBITDA of Rs. 73 million. Laminate revenue declined 5.6% YoY to Rs. 44.5 crore, though domestic laminates grew 9.3% YoY. The company has resumed full operations and filed an insurance claim covering both material loss and loss of profit. Phase-I of the Jumbo Laminate facility at Gandhinagar has begun commercial production, and Phase-II is expected to be operational by October 2025. Net debt-equity ratio improved to 0.4x, and the company raised Rs. 93 crore via preferential allotment. Management guided for FY26 revenue of ~Rs. 1,000 crore and FY27 of Rs. 1,150-1,200 crore, with EBITDA margins of 11-12% this year improving to 13-14% next year, potentially 15-16%.
Near-term, the Q1 results were weak due to the one-time fire disruption, but management's guidance points to a clear margin recovery in coming quarters as MDF normalises, value-added product mix rises toward 50%, and higher-margin Jumbo Laminate production scales up. For shareholders, the key is whether Q2 and beyond deliver on the guided 13-14% EBITDA margin and Rs. 1,150-1,200 crore revenue trajectory.