RUSHIL DECOR LIMITED

Manufactures medium-density fiberboard (MDF), decorative laminates, and PVC boards from production facilities in Andhra Pradesh, Karnataka, and Gujarat (Mansa and Gandhinagar). MDF is the largest line at 71.5% of segment revenue (628.812 cr), followed by laminates and allied products at 24.4% (214.421 cr) and PVC boards at 4.1% (36.011 cr). The laminates business exports to over 57 countries via the Gandhinagar Jumbo Laminates facility, with active markets in Russia, Portugal, Slovakia, Romania, Israel, and Latin America. In FY26, India MDF revenues grew 12.5% and India Laminates grew 21.0% YoY, supported by the addition of 67 new distributors and 131 retailers/dealers during the year. Total FY26 revenue was 862.242 cr with an EBITDA margin of 8.75%. Raw materials, the largest cost component at 57.9% of revenue, were pressured by elevated resin prices, and a fire incident at the Andhra Pradesh MDF facility further weighed on profitability. Effective April 1, 2026, prices were raised by ~15% for MDF and ~10% for laminates to counter input cost inflation, and the company targets 60% value contribution from value-added MDF products by FY2027.