Q1 2027 Rushil Decor Ltd Earnings Call Transcript
Key Points
- Consolidated revenue grew 27.8% YoY to INR2,920 million, driven by normalized MDF operations and higher laminate contributions.
- Laminate business revenue surged 65.3% YoY, with export revenue up 67.9%, supported by improved product mix and new market entries (Honduras, Greece).
- Jumbo laminate business reported strong EBITDA margin of 20.6%, with revenue up 25% sequentially, and management targets 55-60% capacity utilization this year.
- MDF business revenue grew 17.2% YoY, with domestic revenue up 32.9% and realization improving 14.4% YoY.
- Company is on track to become debt-free by FY2029, with no major capex planned and debt reduced by INR18 crore in Q1.
- Expanded domestic distribution network by adding 15 distributors and 46 retailers/dealers, strengthening market reach.
- EBITDA margin declined to 7.9% from 10.5% YoY, impacted by elevated chemical and raw material costs and higher freight expenses.
- MDF capacity utilization fell to 66% due to planned annual maintenance shutdown and subdued export volumes.
- MDF export volumes remained low due to container shortages and high freight costs, with only 2,550 cubic meters exported in Q1.
- Gross margin declined significantly QoQ, and management noted market may not accept further price hikes to cover input cost inflation.
- Laminate business (excluding jumbo) saw EBITDA margin drop to 5% due to plant shutdown, higher chemical costs, and West Asia conflict disruptions.
- Resin prices increased 35-40%, and management expects only marginal relief in July, keeping cost pressures elevated.
Ladies and Gentlemen, Good day and welcome to the Q1 FY2027 earnings conference call of Rushil Decor Ltd hosted by Asian Market Securities Private Limited. As a reminder, all participant lines will be in a listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. (Operator Instructions)
I now hand the conference over to Mr. Karan Bhatelia.
Thank you. Over to you, sir.
Thank you. On the operation of the test, you will come all to the receipt record when you apply 2027.
Investor on calls from the management side we have Rushil K. Thakkar, the managing director and hearing by now like to hand you over to Rushil K. Thakkar is opening thank you and over to you Rushil.
Thank you Karanbhai, good afternoon, ladies and gentlemen welcome to Rushil Decor Ltd earnings conference call for the first quarter ended 30th June 2026. Thank you
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