Rushil Decor

Dalal Street Investment Journal - - SPECIAL REPORT -

Aflag­ship com­pany of the Rushil Group, Rushil Decor Ltd (RDL) of­fers com­pre­hen­sive en­gi­neered in­te­rior prod­ucts in­clud­ing dec­o­ra­tive lam­i­nated sheets and plain par­ti­cle boards. RDL has an in­te­grated multi-prod­uct mod­ern fa­cil­i­ties strate­gi­cally lo­cated in Gu­jarat.

In­cor­po­rated in 1993, RDL has an op­er­at­ing ca­pac­ity of 48 lakh sheets a year in the lam­i­nate seg­ment, ac­count­ing for about 3 per cent of the coun­try’s to­tal pro­duc­tion ca­pac­ity. Ear­lier this year, RDL came up with a pro­posal to set up a man­u­fac­tur­ing unit for medium-den­sity fi­bre (MDF) at Atchuta­pu­ram in Visakhap­t­nam with a ca­pac­ity of 600 cu­bic me­tres per day at an out­lay of 559 crore in a phased de­vel­op­ment.

On the fi­nan­cial front, RDL posted 14.6 per cent in­crease in its rev­enue to 86.33 crore in Q1FY18 from 75.34 crore in Q1FY17. The com­pany’s PBDT in­creased 33.76 per cent to 10.34 crore in the first quar­ter of FY18 on a yearly ba­sis. The com­pany’s net profit rose 38.61 per cent to 6.42 crore dur­ing the same pe­riod. On an an­nual ba­sis, the com­pany’s rev­enue rose 11.85 per cent to 331.94 crore in FY17 as com­pared to the pre­vi­ous fis­cal. The com­pany’s PBDT rose 63.5 per cent to 40.21 crore in FY17 on a yearly ba­sis. The com­pany’s net profit rose tremen­dously from

7.15 crore in FY16 to 24.53 crore in FY17, reg­is­ter­ing 243.07 per cent in­crease.

The com­pany’s PE stood at 50.11x, whereas its peer Green­lam In­dus­tries' PE stood at 46.88x. The stock price of RDL has risen 83.35 per cent in the last one year. We ex­pect price of RDL to soar fur­ther.

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