VMPL
Ahmedabad (Gujarat) [India], May 16: Rushil Decor Limited (BSE: 533470. NSE: RUSHIL), one of the leading suppliers of eco-friendly sustainable MDF Boards, Laminates and Plywood has announced its Audited financial results for the quarter and year ended 31st March, 2025. 
Business and operational Highlights for Q4 FY202
– Net Debt to Shareholder Equity at 0.41x
– Consolidated Basic EPS of Q4 FY2025 is Rs. 0.45 and Diluted EPS is Rs. 0.42
– Added 20 retail distributors
– MDF Boards:
* Reported EBITDA of Rs. 181 million with an EBITDA margin of 10.7%.
* Price realization for per CBM in export and India are Rs. 21,961 and Rs.24,424
* Capacity utilization optimized at 81%
– Laminates:
* Reported EBITDA of Rs. 45 million with an EBITDA margin of 8.5%.
* Price realization for per sheet in export and India are Rs. 681 and Rs. 701
* Capacity utilization for laminates was at 83%
Commenting on the performance Mr. Rushil Thakkar, Managing Director said:
“As FY2025 concludes, Rushil Decor has delivered a resilient performance despite a dynamic business environment. Consolidated revenue for FY2025 was INR 8,979 million, marking a 6.4% year-on-year growth, while Profit After Tax increased by 11.1% to INR 479 million. This performance reflects our disciplined strategy execution and operational efficiency.
The MDF division continued to be a key growth driver, with revenue of INR 6,637 million, supported by a strong 42.8% year-on-year increase in export sales. Growing acceptance of our MDF products in international markets has further strengthened our global presence, leading to a 32.4% year-on-year increase in export volumes. Furthermore, our continued focus on value-added products remains central to our strategy for long-term margin improvement.
The Laminates division also delivered a stable performance, recording revenue of Rs 1,989 million, driven by steady export demand. Commercial production at the Jumbo Laminates facility in Gandhinagar commenced in the month of April, 2025 under Phase 1, with an initial installed capacity of 1.2 million sheets per annum. We have already secured initial orders for exports accounting for 15% of this capacity, marking a promising start for the new facility. Furthermore, we are on track to commence the phase 2 production by the month of October this year.
Despite the increase in industry MDF capacity from 2.3 million CBM to 3.5 to 4 million CBM over the past two years, we have maintained our market share, supported by strong brand recall and a customer-focused approach. Our distribution network continued to grow with the addition of new distributors and retailers throughout the year, further improving our market reach. We also closed FY2025 with a healthy net debt-to-equity ratio of 0.41x, reflecting our focus on maintaining a strong and stable financial position.
As we look ahead to FY2026, we are aiming to cross Rs. 11,000 million in consolidated revenues. Additionally, we are committed to capitalizing on emerging opportunities across domestic and international markets, backed by focused execution, strategic capacity augmentation and customer-led innovation.”
About Rushil Decor
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
hiren.padhya@rushil.com
Rajiv Pandya / Abhishek Dakoria
Churchgate Partners
+91 22 6169 5988
rushil@churchgatepartners.com
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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