Rushil Decor Ltd. · NSE:RUSHIL
Rushil Decor — Q1 FY2025 Earnings Presentation
22 slides from Rushil Decor's earnings presentation, Aug 1, 2024
Slide 1: Exchange filing cover letter for Q1 FY25 investor presentation
••• ••• ••• RUSHIL DECOR LIMITED RDL/059/2024-25 WE'L L MAKE IT Date: 01.08.2024 To, To, National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, Phiroze Jeejeebhoy Towers, Sandra - Kurla Complex, Dalal Street, Sandra (E), Mumbai - 400 051 Mumbai- 400 001 NSE EQUITY SYMBOL: RUSHIL SCRIP COD
Slide 2: Rushil Decor Limited Q1 FY2025 Earnings Presentation
Rushil Decor Limited A beautiful concept Q1 FY2025 | Earnings Presentation
Slide 3: Rushil Decor: MDF Boards, Laminates and Plywood
Rushil Decor: MDF Boards, Laminates and Plywood 100+ Years 1,200+ 6 lineage of wood engineering. Designs Distinct Brands 30+ Years in MDF Boards and Laminates One of the Largest 650+ 4,450+ Direct Distributors Retailers / Dealers manufacturer of MDF Boards and Laminates in organized markets 6 State-
Slide 4: Rushil Decor: Investment Case (1/2)
Rushil Decor: Investment Case (1/2) 1. Wood Panel Market Position 3. Integrated Operating Platform • One of the leading manufacturers of MDF boards and Laminates in India • Manufacturing facilities: 1 MDF plant in Andra Pradesh and 1 in Karnataka, and 3 laminate plants in Gujarat • Recently entered
Slide 5: Rushil Decor: Investment Case (2/2)
Rushil Decor: Investment Case (2/2) 5. Accessing Global Markets 7. Attractive Industry Dynamics • India is the leading manufacturer of Laminates across the world with quality • Growth in the real estate sector, ongoing urbanization and modernization of and cost-effective workmanship furniture underp
Slide 6: Managing Director and Chairman's Message
Managing Director and Chairman’s Message “In the latest quarter, the company reported a substantial 15.9% year-over-year growth in revenue, reflecting a positive financial performance. Compared to the previous quarter, PAT margins increased to 5.5% an improvement of 1.6%. We have also benefited an i
Slide 7: Performance Highlights: Q1 FY2025 Sequential Quarters
Performance Highlights: Q1 FY2025 Sequential Quarters Financial Highlights Y-o-Y MDF Boards Y-o-Y Laminates Y-o-Y • Rushil Decor: • Export market dynamics: • Export market dynamics: • Revenue Rs. 2,235 Mn 15.9% • Volume of 18,982 CBM 26.1% • Volume of 4,83,059 Sheet 35.8% • EBITDA Rs. 256 Mn (11.4)%
Slide 8: Q1 FY25 Financial Highlights: Standalone
Q1 FY25 Financial Highlights: Standalone Revenue (Rs. Million) EBITDA (Rs. Million) / Margin (%) 2,334 2,235 15.0% 12.5% 11.5% 1,928 289 292 256 Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25 PBT (Rs. Million) / Margin (%) PAT (Rs. Million) / Margin (%) 8.5% 6.8% 7.4% 6.3% 3.9% 5.5% 164 165 122 123 90 15
Slide 9: Q1 FY25 Financial Contribution: By Business Division
Q1 FY25 Financial Contribution: By Business Division Revenue Contribution EBITDA Contribution Margin 12.4% 3% 1% 17% 21% 2,235 256 Rs. Mn Rs. Mn Margin 9.1% 76% 82% MDF Boards Laminates Other MDF Boards Laminates Other *Other include PVC Boards Rushil Decor Limited | Earnings Presentation 8
Slide 10: Q1 FY25 Division Overview: MDF Boards
Q1 FY25 Division Overview: MDF Boards Revenue (Rs. Million) EBITDA (Rs. Million) / Margin (%) 17.0% 14.3% 12.4% 1,765 1,692 250 252 1,467 210 Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25 Revenue Contribution Sales Volume (CBM) 20% 23% 25% 26% 1,467 1,692 59,090 74,079 Rs Mn Rs Mn 77% 75% 74% 80% Q1FY24
Slide 11: Q1 FY25 Division Overview: MDF Boards
Q1 FY25 Division Overview: MDF Boards Average Capacity Utilisation (%) Blended Realisation (Rs. Per CBM) 89 91 23,966 72 23,535 22,837 Q3FY24 Q4FY24 Q1FY25 Q3FY24 Q4FY24 Q1FY25 Indian Market Realisation (Rs. Per CBM) Exports Market Realisation (Rs. Per CBM) 25,310 20,276 24,638 19,864 23,720 19,586
Slide 12: Q1 FY25 Division Overview: Laminates
Q1 FY25 Division Overview: Laminates Revenue (Rs. Million) EBITDA (Rs. Million) / Margin (%) 8.7% 8.4% 9.1% 500 471 43 42 415 36 Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25 Revenue Contribution Sales Volume (Sheets) 30% 37% 37% 42% 415 471 6,08,264 7,64,682 Rs Mn Rs Mn 58% 63% 63% 70% Q1FY24 Q1FY25 Q1
Slide 13: Q1 FY25 Division Overview: Laminates
Q1 FY25 Division Overview: Laminates Average Capacity Utilisation (%) Blended Realisation (Rs. Per Sheet) 90 670 88 634 80 616 Q3FY24 Q4FY24 Q1FY25 Q3FY24 Q4FY24 Q1FY25 Indian Market Realisation (Rs. Per Sheet) Exports Market Realisation (Rs. Per Sheet) 547 754 539 695 508 680 Q3FY24 Q4FY24 Q1FY25 Q
Slide 14: Profit & Loss Statement: Q1 FY25
Profit & Loss Statement: Q1 FY25 Rs. Million Q1 FY254 Q1 FY24 Y-o-Y (%) Q4 FY24 Q-o-Q (%) Revenue 2,235.0 1,928.2 15.9% 2,334.2 (4.3)% Cost of Materials Consumed 1,259.0 1,047.5 1,275.0 Changes in Inventories (38.7) (62.4) (3.3) Employee Cost 160.8 127.8 163.5 Other Expenses 598.1 526.3 606.6 EBITDA
Slide 15: Capital Structure: Net Debt to Equity Ratio
Capital Structure: Net Debt to Equity Ratio 4,003 3,116 3,023 1.10 2,861 2,820 2,563 0.65 0.61 0.53 0.53 0.45 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 Net Debt (In Mn) D/E Ratio Cashflow from operations allow ongoing deleveraging with Net Debt / Shareholder Equity < 0.5x Rushil D
Slide 16: MDF Boards Value Added: Quantity and Value Targets
MDF Boards Value Added: Quantity and Value Targets 45% Quantity % 43% 42% 41% 35% Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 55% 52% 51% Value % 50% 45% Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Value added products target 55% of revenue and 50% of volumes of MDF Boards in FY2025 Rushil Decor Limited | Earnings Pr
Slide 17: Specialized Products Offerings: Distinct Brands
Specialized Products Offerings: Distinct Brands Application Application • Industrial Products • Home Furniture • Residential furniture • Cabinet Doors • Commercial furniture • Desktops • Wall Paneling • Wardrobes • Architectural Moldings • Wall Paneling • Sports Goods • Commercial Furniture • Displa
Slide 18: Production Capacity and Utilization
Production Capacity and Utilization Laminates MDF Boards Karnataka & Gujarat Andhra Pradesh Installed Capacity Installed Capacity 3.49 Mn 3,30,000 sheets per annum CBM* per annum No. of Units No. of Units 3 2 Gandhinagar Chikmagalur & Vizag Q1FY25 Q1FY25 Capacity Utilisation Capacity Utilisation 88%
Slide 19: Laminates Manufacturing: Expansion Plan
Laminates Manufacturing: Expansion Plan Laminates Manufacturing Platform Total Capacity Additional Capacity Future Capacity 3.49 Mn 2.80 Mn 6.29 Mn Sheets Per Annum Sheets Per Annum Sheets Per Annum • A greenfield project has been started in Mansa, Gujarat, adjacent to the existing facilities • Oper
Slide 20: Expanding Sales Footprints: 53 Countries
Expanding Sales Footprints: 53 Countries Russia Europe Gulf & Middle East North America India Africa Indonesia Saudi Arabia Latin America Rest of Asia Pacific With expansion into newer regions, there are significant opportunities for our value-added products. We continue to prioritize product develo
Slide 21: Led by Strong and Experienced Management Team
Led by Strong and Experienced Management Team Mr. Krupeshbhai G. Thakkar Mr. Hiren Padhya Chairman and Managing Director Chief Financial Officer Bachelor‘s degree in commerce from Gujarat University Qualified Chartered Accountant, Company Secretary and Cost Accountant 30+ years of experience in lami
Slide 22: Disclaimer
This presentation has been prepared by Rushil Decor Limited (the world- wide, competition, the company’s ability to successfully implement its “Company”) solely for information purposes and does not constitute any strategy, the Company’s future levels of growth and expansion, offer, recommendation o