Rushil Decor has fixed Tuesday, September 8, 2026, as the record date for determining the entitlement of members to receive the final dividend for the financial year ended March 31, 2026. The company informed the stock exchanges that shareholders holding equity shares on or before this date will be eligible for the proposed payout, subject to approval at the upcoming Annual General Meeting (AGM).

The Board of Directors had previously recommended a final dividend of ₹0.05 per equity share of face value ₹1 each, representing a 5% yield, in its meeting held on May 29, 2026. This recommendation is now being put to vote at the company’s 32nd AGM.

Key Dates and Details

The following schedule outlines the critical dates associated with the dividend payment process:

The 32nd AGM is scheduled to be held on Monday, September 28, 2026, at 10:30 am through Video Conferencing / Other Audio Visual Means. If approved by the shareholders, the dividend shall be paid on or before Monday, October 26, 2026. The payment will be made subject to the deduction of tax at source.

Regulatory Compliance

This intimation is issued pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company’s earlier communication dated May 29, 2026, had already disclosed the board's recommendation of the final dividend, establishing the basis for the current record date fixation.

Rushil Decor reported a 27.8% year-on-year increase in consolidated revenue from operations to ₹2,920 million for the quarter ended June 30, 2026. The growth was primarily driven by a significant expansion in the laminate business and stabilized operations at the Andhra Pradesh medium-density fibreboard (MDF) facility following a planned annual maintenance shutdown in April.

Profit after tax (PAT) for the quarter was ₹20 million, while earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₹182 million, translating to an EBITDA margin of 7.9%. Gross profit reached ₹892 million with a gross profit margin of 39%. Management attributed the pressure on profitability to elevated chemical and raw material costs, alongside higher freight expenses due to disruptions in West Asian shipping routes.

Segment Performance

The laminate business emerged as the key growth driver, with revenue surging 65.3% year-on-year to ₹736 million. This segment contributed ₹52 million to EBITDA, resulting in a margin of 7%. Export revenue within the laminate division grew by 67.9% to ₹485 million, supported by increased acceptance of jumbo laminates in international markets. Domestic laminate revenue also rose by 60.6% to ₹251 million.

Within the laminate portfolio, the jumbo laminate business saw revenue reach ₹110 million, a substantial increase of 25%. Sales volume for jumbo laminates grew by 20.4% to approximately 1.13 lakh sheets. This high-margin segment reported an EBITDA of ₹23 million, yielding a robust margin of 20.6%.

The MDF business recorded revenue of ₹1,456 million, up 17.2% year-on-year. India-specific MDF revenue grew by 32.9% to ₹1,447 million, driven by a 16.1% increase in sales volume to 52,162 cubic meters (CBM). Realization per CBM improved by 14.4% to ₹27,736. However, export volumes remained subdued due to container shortages and high freight rates, with exports limited to approximately 255 CBM. The MDF segment reported an EBITDA of ₹123 million with a margin of 8.4%.

What the Numbers Show

A notable divergence exists between the top-line growth and margin performance in the laminate segment. While total laminate revenue surged by 65.3%, the overall segment EBITDA margin remained at 7%, down from previous periods. This contraction is largely attributable to the mix shift; the high-margin jumbo laminate business (20.6% margin) is still scaling up from a low base, while the older laminate business faced margin pressure from chemical cost hikes and plant shutdowns. As management noted, excluding jumbo laminates, the normal laminate business margin dipped to around 5%, indicating that the scale-up of the jumbo product line is critical for restoring overall segment profitability to the targeted 9-10% range.

Balance Sheet and Outlook

Management outlined a clear path toward becoming debt-free by Q2 FY29. With total debt, including working capital, standing at approximately ₹260 crore, the company reduced debt by ₹18 crore in the current quarter alone. Scheduled repayments amount to roughly ₹55 crore annually. No major capital expenditure is planned beyond maintenance capex of ₹5-10 crore for FY27, allowing cash flows to focus on debt reduction and working capital optimization.

Looking ahead, Rushil Decor aims to improve capacity utilization in the jumbo laminates business to 55-60% this fiscal year, with potential revenue reaching ₹75 crore. Long-term, full utilization could generate up to ₹140 crore in revenue from this segment. The company also expanded its distribution network by adding 15 direct distributors and 46 retailers domestically, while entering new international markets in Honduras and Greece.