Q3 FY25 Revenue from Operations at Rs. 2,117 Million
Q3 FY25 MDF Export Sales Volume increase by 38.2%Y-o-Y
Q3 FY25 Laminate Export Sales Volume increase by 13.8% Y-o-Y
Ahmedabad, 28th January 2025: Rushil Decor Limited (BSE: 533470. NSE: RUSHIL), one of the leading suppliers of eco-friendly sustainable MDF Boards, Laminates and Plywood has announced its unaudited financial results for the quarter ended 31st December 2024.
Financial Performance for Q3 FY25:
₹ In Million
|
| Q3 FY25 | Q3 FY24 | Y-o-Y | Q2 FY25 | Q-o-Q | 9M FY25 | 9M FY24 | Y-o-Y |
| Revenue from Operations | 2,117 | 2,131 | (0.7)% | 2,304 | (8.1)% | 6,672 | 6,105 | 9.3% |
| Gross Profit | 1,016 | 1,027 | (1.0)% | 1,115 | (8.8)% | 3,154 | 2,950 | 6.9% |
| Gross Margin% | 48.0% | 48.2% |
| 48.4% |
| 47.3% | 48.3% |
|
| EBITDA | 273 | 307 | (10.9)% | 296 | (7.8)% | 827 | 907 | (8.8)% |
| EBITDA Margin% | 12.9% | 14.4% |
| 12.9% |
| 12.4% | 14.9% |
|
| PBT | 155 | 152 | 1.6% | 154 | 0.3% | 475 | 454 | 4.5% |
| PBT Margin% | 7.3% | 7.1% |
| 6.7% |
| 7.1% | 7.4% |
|
| PAT | 115 | 114 | 1.1% | 114 | 0.9% | 353 | 341 | 3.4% |
| PAT Margin% | 5.4% | 5.3% |
| 4.9% |
| 5.3% | 5.6% |
|
Division Revenue:
₹ In Million
|
| Q3 FY25 | Q3 FY24 | Y-o-Y | Q2 FY25 | Q-o-Q | 9M FY25 | 9M FY24 | Y-o-Y |
| MDF Boards | 1,540 | 1,580 | (2.5)% | 1,717 | (10.3)% | 4,949 | 4,543 | 8.9% |
| Laminates | 486 | 494 | (12.5)% | 503 | (3.4)% | 1,460 | 1,400 | 4.3% |
| Other | 91 | 57 | 59.6% | 84 | 8.3% | 263 | 162 | 62.3% |
| Total | 2,117 | 2,131 | (0.7)% | 2,304 | (8.1)% | 6,672 | 6,105 | 9.3% |
Division Volume:
|
| Q3 FY25 | Q3 FY24 | Y-o-Y | Q2 FY25 | Q-o-Q | 9M FY25 | 9M FY24 | Y-o-Y |
| MDF Boards (CBM) | 64,800 | 65,896 | (1.7)% | 72,013 | (10.0)% | 2,10,892 | 1,85,398 | 13.8% |
| Laminates (Sheet) | 7,68,409 | 7,37,024 | 4.3% | 7,51,670 | 2.2% | 22,84,761 | 21,19,320 | 7.8% |
Business and operational Highlights for Q3 FY2025:
Commenting on the performance of Q3 FY25, Mr. Rushil Thakkar, Managing Director said:
“Rushil Decor delivered consolidated revenues of Rs. 6,672 million in 9M FY2025, reflecting a year-on-year growth of 9.3%, and PAT of Rs. 353 million, representing a 3.4% increase. Our MDF division contributed Rs. 4,949 million in revenue, an 8.9% year-on-year growth. The AP MDF plant is operating at 91%, resulting in 89% capacity utilization for the MDF division, highlighting our operational efficiency and ability to meet increasing demand.
Exports have been a significant driver of performance across both MDF and Laminates. MDF export volumes grew by 30.7% year-on-year, with price realizations improving by 6.5%. Following the completion of export obligations in MDF, we are now strategically positioned to capture better realizations in global markets, enhancing future profitability. Laminates, export volumes rose by 13.6% year-on-year, reflecting consistent demand in international markets.
We are actively exploring new export markets while enhancing our presence in existing regions. Strategic participation in global exhibitions and targeted customer engagements have laid the foundation for expanding our geographic footprint and revenue base.
Our Jumbo Laminates expansion project in Gandhinagar is progressing as scheduled, with operations expected to commence by the end of Q4 FY2025. This facility, with an annual production capacity of 2.8 million sheets, is designed to address the growing demand in export markets, particularly in the USA, Europe and Australia.
As we approach the end of FY2025, we remain committed to optimizing our operations, leveraging export opportunities, and delivering long-term value to all stakeholders. Thank you for your continued trust and support as we work toward new milestones.”
About Rushil Décor
Founded in 1993, Rushil Decor Limited is a globally leading company in modern interior infrastructure and eco-friendly composite wood panels. The company excels in setting industry benchmarks through innovative designs and advanced technology. Operating six cutting-edge manufacturing plants, Rushil Decor has an annual capacity of 3,30,000 CBM MDF and 3.49 million laminates, serving customers in over 56 countries. The company’s product range includes VIR Laminates, VIR MDF boards, VIR MAXPRO (HDFWR) boards, VIR Pre-laminated Decorative MDF/HDFWR boards, VIR Modala Ply, VIR PVC and VIR WPC boards/doors.
Rushil Decor’s commitment to quality, design excellence and customer-centricity distinguishes it in the market. Driven automated plants, world class German technologies and global standards, Rushil Decor relentlessly creates smarter spaces. The company ensures optimal supply chain efficiencies and resource utilization. Strategic local plantations further enhance cost advantages in raw material sourcing, allowing Rushil Decor to meet global market demand effectively and sustainably.
For more details, please visit: www.rushil.com
Hiren Padhya
Chief Financial Officer
Rushil Decor Limited
Rajiv Pandya / Abhishek Dakoria
Churchgate Partners
+91 22 6169 5988
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward- looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.
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