Rushil Decor Shares Rise After Q2 Result, Fundraising Announcement

Rushil Decor is a small-cap stock. It is a leading company in Laminate and MDF panel boards. The company’s net sales in the second quarter stood at Rs Rs 204.61 crore.

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Share Market News: Rushil Decor shares rallied more than 5 percent in early morning deals on Wednesday after the company announced its second quarter result and also raising of funds. The stock climbed to day’s high of Rs 364.05 before cooling off to Rs 354 around 10:30 AM.

Rushil Decor is a small-cap stock. It is a leading company in Laminate and MDF panel boards. The company’s net sales in the second quarter stood at Rs Rs 204.61 crore. This represents an increase of around 0.60 per cent from Rs 203.39 crore in September 2022.

The company’s quarterly net profit stood at Rs 10.55 crore in September 2023. This is, however, down 60.45 percent from Rs 26.68 crore in the September 2022 quarter. As per the filing made by Rushil Decor, the earnings per share (EPS) in the quarter decreased to Rs 3.88 from Rs 13.40 in September 2022.

Earlier in October, Rushil Decor in a filing said that its board has approved the raising of funds by issue of equity shares, or any other financial instruments convertible into Equity Shares (including warrants, or otherwise) by way of Preferential Allotment or Private Placement or Qualified worth Rs 125 cr.

The company said that Rs 90 crore will be used for greenfield capex of laminates and working capital requirements while Rs 10 crore will be utilised for MDF plant civil work. The remaining amount will be utilised to meet other corporate purposes.

The decorative laminates industry has seen good traction in exports in the recent years and the company has seen contributions from multiple geographies for the same. Incorporated in 1993, Rushil Decor has a global footprint in more than 50 countries. Its have given a profit of more than 300 per cent to shareholders in three years.



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