Slide 1: Exchange filing cover letter
RDL/071/2025-26 Date: 08.11.2025 To, To, National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, Phiroze Jeejeebhoy Towers, Bandra – Kurla Complex, Dalal Street, Bandra (E), Mumbai – 400 051 Mumbai- 400 001 NSE EQUITY SYMBOL: RUSHIL SCRIP CODE: 533470 ISIN: INE573K01025 Dear Sir / Madam, S
Slide 2: Rushil Decor Limited: Q2 and H1 FY2026 Earnings Presentation
Rushil Decor Limited A beautiful concept Q2 and H1 FY2026 | 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 32+ Years in MDF Boards and Laminates One of the Largest 700+ 4,700+ Direct Distributors Retailers / Dealers manufacturer of MDF Boards and Laminates in organized markets 6 Manufa
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 2 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's Message
Managing Director’s Message “The second quarter of FY2026 marked a period of recovery and steady operational performance for Rushil Decor, as operations at the Andhra Pradesh MDF facility returned to full normalcy following the one-off disruption earlier in the year. Consolidated Revenue from Operat
Slide 7: Performance Highlights: Q2 FY2026 Consolidated
Performance Highlights: Q2 FY2026 Consolidated Financial Highlights Y-o-Y MDF Boards Y-o-Y Laminates Y-o-Y • Rushil Decor: • MDF Boards : • Laminates: • Revenue Rs. 2,356 Mn 2.3% • Revenue Rs. 1,695 Mn (1.3)% • Revenue Rs. 547 Mn 8.9% • EBITDA Rs. 225 Mn (24.1)% Mn • EBITDA Rs. 183 Mn (19.2)% • EBIT
Slide 8: Performance Highlights: H1 FY2026 Consolidated
Performance Highlights: H1 FY2026 Consolidated Financial Highlights Y-o-Y MDF Boards Y-o-Y Laminates Y-o-Y • Rushil Decor: • MDF Boards : • Laminates: • Revenue Rs. 4,148 Mn (8.9)% • Revenue Rs. 2,938 Mn (13.8)% • Revenue Rs. 992 Mn 1.9% • EBITDA Rs. 203 Mn (63.3)% • EBITDA Rs. 110 Mn (74.8)% • EBIT
Slide 9: Q2 and H1 FY2026 Financial Highlights: Consolidated
Q2 and H1 FY2026 Financial Highlights: Consolidated The quarterly performance was impacted by fire incident at the Andhra Pradesh MDF manufacturing facility Revenue (Rs. Million) EBITDA (Rs. Million) / Margin (%) 4,555 13.2% (1.2)% 9.5% 12.1% 4.9% 4,148 553 2,304 2,356 296 1,792 225 203 (22) Q2 FY25
Slide 10: Q2 and H1 FY2026 Division Overview: MDF Boards
Q2 and H1 FY2026 Division Overview: MDF Boards Revenue (Rs. Million) EBITDA (Rs. Million) / Margin (%) 13.2% (5.9)% 10.8% 12.8% 3.7% 3,409 436 2,938 226 1,717 1,695 183 1,242 110 (73) Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Revenue Contribution Sales Volume (C
Slide 11: Q2 and H1 FY2026 Division Overview: MDF Boards
Q2 and H1 FY2026 Division Overview: MDF Boards Average Capacity Utilisation (%) Blended Realisation (Rs. Per CBM) 89 25,689 81 79 24,864 23,602 23,858 23,335 69 58 Q4 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Q4 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Indian Market Realisation (Rs. Per CBM) Exports Market R
Slide 12: MDF Boards: Continued Growth in Exports Volume and Realisation
MDF Boards: Continued Growth in Exports Volume and Realisation Exports Sales Volume (CBM) 81,720 61,716 21,372 22,879 16,701 18,982 18,487 13,152 7,150 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 FY24 FY25 Export Realisation (Rs. Per CBM) 23,076 21,961 21,308 21,415 21,476 21,279 20,276 19,684
Slide 13: Q2 and H1 FY2026 Division Overview: Laminates
Q2 and H1 FY2026 Division Overview: Laminates Revenue (Rs. Million) EBITDA (Rs. Million) / Margin (%) 12.9% 10.2% 7.7% 11.0% 8.8% 107 974 992 87 65 503 547 445 45 42 Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Q2 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Revenue Contribution Sales Volume (Sheet) 15,16,352 14
Slide 14: Q2 and H1 FY26 Division Overview: Laminates
Q2 and H1 FY26 Division Overview: Laminates Average Capacity Utilisation (%) Blended Realisation (Rs. Per Sheet) 90 89 86 694 696 83 83 647 642 673 Q4 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Q4 FY25 Q1 FY26 Q2 FY26 H1 FY25 H1 FY26 Indian Market Realisation (Rs. Per Sheet) Exports Market Realisation (Rs
Slide 15: MDF Boards Value Added: Quantity and Value Targets
MDF Boards Value Added: Quantity and Value Targets Quantity % 40% 43% 43% 27% FY23 FY24 FY25 H1 FY26 50% 53% 55% Value % 37% FY23 FY24 FY25 H1 FY26 On track to achieve Value added products target 60% of revenue and 50% of volumes of MDF Boards in FY2026 Rushil Decor Limited | Earnings Presentation 1
Slide 16: Profit & Loss Statement: Q2 and H1 FY26
Profit & Loss Statement: Q2 and H1 FY26 Rs. Million Q2 FY264 Q2 FY25 Y-o-Y (%) Q1 FY26 Q-o-Q (%) H1 FY264 H1 FY25 Y-o-Y (%) Revenue 2,356.5 2,304.3 2.3% 1,791.6 31.5% 4,148.1 4,555.3 (8.9)% Cost of Materials Consumed 1,333.9 1,245.1 968.9 2,302.8 2,513.0 Purchase of Stock in Trade 0.3 0.0 1.1 1.4 4.
Slide 17: Balance Sheet: As on 30th September 2025
Balance Sheet: As on 30th September 2025 As on 30th Sep As on 31st Mar As on 30th Sep As on 31st Mar Rs. Million 2026 2025 Rs. Million 2026 2025 Equity Non-Current Assets Equity Share Capital 293.4 286.8 Property, Plant and Equipment 6,988.7 6,996.8 Other Equity 6,063.6 6,038.8 Capital WIP 258.8 74.
Slide 18: Capital Structure: Net Debt to Equity Ratio
Capital Structure: Net Debt to Equity Ratio 3,116 3,023 2,820 2,861 2,682 2,620 2,691 2,563 2,575 2,565 0.65 0.61 0.53 0.53 0.45 0.44 0.44 0.42 0.41 0.40 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Net Debt (Rs. Mn) D/E Ratio Continued focus on deleveraging, with Net Debt-t
Slide 19: 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 20: Production Capacity and Utilization
Production Capacity and Utilization Laminates MDF Boards Karnataka & Gujarat Andhra Pradesh Installed Capacity Installed Capacity 34,92,000 3,30,000 sheets per annum CBM* per annum Gandhinagar No. of Units No. of Units 3 2 Gandhinagar Chikmagalur & Vizag H1 FY26 H1 FY26 Vizag Capacity Utilisation Ca
Slide 21: Laminates Manufacturing: Expansion Plan
Laminates Manufacturing: Expansion Plan Laminates Manufacturing Platform Total Capacity Additional Capacity Future Capacity 34,92,000 28,00,000 62,92,000 Sheets Per Annum Sheets Per Annum Sheets Per Annum (Phase 1 and 2) • A brownfield project has been started in Gandhinagar, Gujarat, adjacent to th
Slide 22: Expanding Sales Footprints: 57 Countries
Expanding Sales Footprints: 57 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 New Jumbo Laminates will exclusively targ
Slide 23: Led by Strong and Experienced Management Team
Led by Strong and Experienced Management Team Mr. Krupeshbhai G. Thakkar Mr. Hiren Padhya Chairman and Whole Time Director Chief Financial Officer Bachelor‘s degree in commerce from Gujarat University Qualified Chartered Accountant, Company Secretary and Cost Over 30 years of experience in laminates
Slide 24: Board of Directors
Board of Directors Audit Committee Stakeholders Relationship Mr. Krupeshbhai G. Thakkar Mr. Rushil K.Thakkar Mr. Ramanik T. Kansagara Committee Chairman and Whole Time Director Managing Director Whole Time Director Nomination and Remuneration Committee Corporate Social Responsibility Committee Mr. K
Slide 25: ESG: Step Towards Sustainable Sourcing
ESG: Step Towards Sustainable Sourcing 185 Mn+ 140 Mn+ 24 Mn Rs. 13.7 Mn 100% Trees planted across Tees dedicated to MDF raw Saplings planted across CSR spending in FY25 with Raw material for MDF is Karnataka and Andhra material sourcing, securing key across key districts in agroforestry & plantatio
Slide 26: Visit Our Real Time ESG Disclosure Platform
Visit Our Real Time ESG Disclosure Platform Rushil Decor Limited has been committed to environmental sustainability, prioritizing ESG principles well before they gained widespread recognition Map our ESG framework with 35+ different frameworks Download ESG data Over 15 factors and 200+ KPI Access to
Slide 27: Rushil Decor Limited Churchgate Partners
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