Rushil Decor Limited has informed the Exchange about Investor Presentation regarding the financial performance of the company and other highlights for the Quarter ended 30th September, 2022

••• ••• ••• RUSHIL

DECOR LIMITED

WE'L L MAKE IT

RDL/073/2022-23 Date: 09.11.2022

To, National Stock Exchange of India Ltd. Exchange Plaza, Bandra - Kurla Complex, Bandra (E), Mumbai - 400051 NSE EQUITY SYMBOL: RUSHIL

To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001 BSE SCRIPT CODE: 533470

Sub: Submission of Q2 F.Y. 2022-23 Presentation.

ISIN: INE573K01017

Dear Sir/ Madam,

We are enclosing herewith a copy of the 02 & H1 - FY 2022-23 Presentation regarding the financial performance of the company and other highlights for the period ended on 30th September, 2022.

Please take the same in your records and do the needful.

Thanking you

Yours Faithfully,

For, Rushil Decor Limited

asmukh K. Modi Company Secretary

Encl: as above

••

RUSHIL DECOR LTD., RUSHIL HOUSE, NEAR NEELKANTH GREEN BUNGALOW, OFF SINDHU BHAVAN ROAD, SHILAJ, AHMEDABAD-380058, G UJARAT, INDIA.

REGO. OFFICE: S. NO. 125, NEAR KALYANPURA PATIA, V ILLAGE ITLA, GANDHINAGAR-MANSA ROAD,

TA. KALOL, DIST. GANDHINAGAR-382845, G UJARAT, INDIA. I CIN: L25209GJ1993PLC019532

PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: INFQ@RUSHIL.COM I WWW.RUSHIL.COM

Investor Presentation Q2 & H1 - FY23

Disclaimer

This presentation has been prepared by Rushil Décor Limited (the “Company”) solely for information purposes and does not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment what so ever. No offering of securities of the Company will be made except by means of statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world- wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.

Table of content

1.

2.

3.

4.

5.

Company Overview

Industry Overview

Q2 & H1 FY23 Financial Highlights

Historical Financial Highlights

Way Ahead

Company overview

Laminates

MDF

Among India’s Leading Laminates & MDF Manufacturers

3.49 mn Sheets Installed capacity for Laminates

5 State-of-the-art manufacturing facilities across India

25+ Years in Decorative Laminates & MDF

3,30,000 CBM Installed capacity for MDF

Strong network of 540+ direct distributors & 4,000+ retailers/dealers

 Among the largest players in the Laminates segment – with 2 brands and 1,200+ designs/SKUs  India’s 3rd largest manufacturer of MDF boards – with 4 distinct brands

Offering Specialized Products

Decorative Laminates

Medium Density Fiberboard (MDF)

Units

3

Capacity

3.49 million p.a.

Utilization H1 FY23 – 84%

Location Gujarat

• Home furniture • Cabinet Doors • Desktops • Wardrobes • Wall Paneling • Commercial furniture

Brands

Manufacturing

Applications

Units

2

Capacity 3,30,000 CBM p.a.

Utilization H1 FY23 – 75%

Location Chikmagalur, Karnataka Visakhapatnam, Andhra Pradesh

• Residential & Commercial

furniture

• Wall Paneling • Architectural Moldings • Industrial Products • Sports Goods • Display Cabinets • CNC Routing • Flooring • Doors & Partition Cornices

Through State-of-the-art Manufacturing Facilities – Laminates

Laminates – Gujarat

• Unit 1 – RDL, 608, GIDC Mansa, Dist. Gandhi Nagar, Gujarat

• Unit 2 – MRPL, Dholakuva Patia, Gandhinagar-Mansa Road, Mansa, Dist. Gandhinagar

• Unit 3 – RHPL, Survey No. 125, Nr. Kalyanpura Patia, Gandhinagar-Mansa Road, Village Itla, Tal. Kalol

•

Production – 34.92 lakh sheets per annum

7

Technically Advanced MDF Manufacturing Plants

Technological Superiority of MDF

Moisture Resistant

Termite Resistant

Borer Resistant

Stable & Uniform

Highly Durable

Chikmagalur, Karnataka

Visakhapatnam, Andhra Pradesh

•

•

Installed Capacity – 90,000 CBM per annum

Utilization (Half Yearly) – 86%

•

•

Installed Capacity – 2,40,000 CBM per annum.

Utilization (Half Yearly) – 71%

Led by Strong and Experienced Management Team

Mr. Krupeshbhai G. Thakkar - Chairman • Bachelor‘s degree in commerce from Gujarat University

• 30+ years of experience in laminates and other allied products

• Manages and leads

operations

Mr. Rushill Thakkar Director • Graduate with over

9 years of experience

• Played significant role in setting up new MDF facility in Andhra Pradesh • Responsible for

logistics & warehousing, exports

Mr. Keyur M. Gajjar Chief Executive Officer • Bachelor's degree in engineering and MBA

• Over 2 decade of

experience • Responsible for planning and overall functioning of organization

Mr. Hiren Padhya Chief Financial Officer

• Qualified Chartered Accountant, Company Secretary and Cost Accountant • 27 years of

experience in financial management

Mr. Hasmukh K. Modi Company Secretary

• Associated with Company for the last 14 years

• Commerce

graduate and Company Secretary qualifications

• Completed ICMAI in

2011

Key Strengths

Product Innovation & Value Engineering

Strategically Located Manufacturing Plants

• Continuous emphasis on product innovation

and new design development

• Design first, quality first - brand approach

• Manufacturing facilities located in close

proximity to raw material source, ensuring steady supply at reasonable rates

Strong Branch and Dealer Network

Significant Export Presence

• Developed a strong domestic network of 540+ distributors and 4,000+dealers/ retailers across India

• Exporting to 45+ countries, established strong

brand in export markets

• Exports help de-risk business on geographical

& customer segments

Industry Overview

Laminates

MDF

Indian Wood Panel Industry Overview

Indian Furniture Industry ($bn)

9% CAGR

•

Indian furniture industry expected to accelerate to 9% CAGR from $7.6 bn in 2020 to $11.7 bn in 2025

30

25

20

15

10

5

0

2019

2020

2025

2030

2035

Indian Wood panel Industry Break - up

9%

8%

15%

Plywood

Laminates

MDF

Particle Board

68%

Industry Data, Indurty Reports, Axis Capital,Hiatong Securities

• Growth in furniture industry,

improving standard of low installation and maintenance cost are key

living, driving forces for the laminates industry

•

Indian laminates industry set to post CAGR of 10% over FY21-26 with higher share of organized player

• Demand for decorative laminates is rising from hotels, educational hospitals, institutions, and other commercial infrastructures due to the wide availability of designs, colors, textures, etc.

shopping malls,

airports,

• Additionally, rapid utilization of decorative interior indoor fuels market

products sports clubs, auditoriums, etc., growth

in gymnasiums, convention centers,

further

Rising Opportunities in the MDF segment

Global market size is estimated at 105 million CBM (USD 50.2 billion) in 2021, expected to witness a CAGR of 9.6% in 2021-2026

MDF Market in India (Rs. Crores)

MDF

Plyboard

Global vs Domestic MDF penetration

3000

2021

6000

2026

30

70

ROW

70

30

India

50

50

India 2030E

Growth Drivers

Growth in the Real Estate Sector

Modernization of Furniture Industry

Growth of Online Home Décor Platforms

Rapid Pace of Urbanisation

Changing demographics of Young Population

Reduction in Furniture Cycle Time

https://niveshaay.files.wordpress.com/2022/01/mdf-industry-analysis-1.pdf

Q2 & H1 FY23 Financial Highlights

Laminates

MDF

Q2 FY23 Financial Highlights

Revenues (Rs. Crore)

Gross Profit (Rs. Crore)

EBITDA (Rs. Crore) / Margin %

PAT (Rs. Crore) / Margin %

203.4

111.3

47.1

26.7

12.7%

23.2 %

4.5 %

13.1%

79.3

171.3

21.9

7.7

Q2 FY22

Q2 FY23

Q2 FY22

Q2 FY23

Q2 FY22

Q2 FY23

Q2 FY22

Q2 FY23

Gross Profit – Revenue from operations – Total raw material cost

Quarterly Highlights – Laminates

Revenues (Rs. Crore)

Sales Volumes (Sheets)

Realization (Rs. per sheet)

EBITDA (Rs. Crore) / Margin %

50.8

52.8

727151

728714

677

715

5.1%

6.4%

.

8 0 2

.

0 0 3

.

4 9 1

.

4 3 3

820

754

3.4

584

583

2.6

,

8 4 7 1 2 3

,

,

2 3 4 9 2 3

,

,

9 1 7 7 9 3

,

,

6 6 9 6 0 4

,

Q2 FY22

Q2 FY23

Q2 FY22

Q2 FY23

Q2 FY22

Q2 FY23

Q2 FY22

Q2 FY23

Export

Domestic

Exports

Domestic

Export

Domestic

Quarterly Highlights – MDF

Revenues (Rs. Crore)

Sales Volumes (CBM)

Realization (Rs. per CBM)

EBITDA (Rs. Crore) / Margin %

121.0

149.0

53937

54344

22,434

27,419

12.0% XX%

29.3% XX%

.

8 4 1 1

3 6

.

.

8 7 2 1

.

2 1 2

1 0 9 0 5

,

2 6 8 2

,

1 8 4 4 4

,

3 6 8 9

,

28798

22546

22152

21474

43.6

14.5

Q2 FY22

Q2 FY23

Q2 FY22

Q2 FY23

Q2 FY22

Q2 FY23

Q2 FY22

Q2 FY23

Export

Domestic

Exports

Domestic

Export

Domestic

Despite lower volumes, realizations in domestic markets have increased on account of higher contribution from value added products

Quarterly & Half Year Financial Highlights

Particulars (Rs. Crore)

Q2 FY23

Q2 FY22

171.3

Y-o-Y (%)

18.7%

Revenue

Cost of Services & Raw Materials

(Increase) / Decrease In Stocks

Purchase of Finished Goods

Employee Cost

Other Expenses

EBITDA

EBITDA M

Other Income

Depreciation

Finance Cost

Exceptional Items

PBT

Tax

PAT

PAT M

203.4

103.0

-11.0

0.0

11.8

52.4

47.1

92.2

-0.7

0.5

10.3

47.1

21.9

23.2%

12.8%

0.4

6.5

5.6

0.0

35.4

8.8

26.7

13.1%

0.2

6.0

5.8

0.0

10.3

2.6

7.7

4.5%

115.2%

243.7%

247.2%

H1 FY23

H1 FY22

Y-o-Y (%)

57.9%

304.3%

414.2

208.4

-21.4

0.0

22.7

109.8

94.6 22.9%

0.6

12.6

10.5

0.0

72.1

18.3

53.9 13.0%

262.3

161.3

-29.2

0.7

19.9

86.3

23.4 8.9%

0.4

11.9

11.6

0.0

0.2

0.1

0.1 0.0%

Balance Sheet as on 30th Sept 2022

Rs. Crore

Equity Equity Share Capital Other Equity Non-Current Liabilities Long Term Borrowings Other Financial Liabilities Provisions Deferred Tax Liabilities (Net) Other Non-Current Liabilities Current Liabilities Short Term Borrowings Trade Payables dues to micro & small enterprises Dues to other than micro & small enterprises Other Financial Liabilities Other Current Liabilities Provisions Current Tax Liability (Net) Total Equity & Liabilities

As on 30th Sept’ 2022 339.6 19.9 319.7 346.3 284.2 8.8 2.9 44.4 6.0 283.4 133.0

5.7

88.9

0.4 28.6 19.0 7.6 969.3

As on 31st Mar 2022 286.8 19.9 266.9 340.9 286.2 8.7 2.5 36.1 7.4 259.1 133.4

4.5

83.4

1.0 13.3 23.4 0.0 886.8

Rs. Crore

Non-current Assets Property, Plant and Equipment Capital WIP Other Intangible Assets Financial Assets Investments Trade Receivables Loans Other Financial Assets Other Non- Current Assets Current Assets Inventories Financial Assets Trade Receivables Cash & Cash Equivalent Bank Balance other than Cash Other Current Assets Total Assets

As on 30th Sept’ 2022

As on 31st Mar 2022

653.5 628.8 0.1 6.9

0.0 2.3 0.1 10.3 5.0 315.8 183.0

100.3 0.5 5.7 26.2 969.3

610.1 593.5 0.5 0.3

0.0 2.4 0.9 10.2 3.1 276.6 155.4

82.6 0.5 5.6 32.6 886.8

Historical Financial Highlights

Laminates

MDF

Annual Highlights – Laminates

Sales Volumes (Sheets)

Realization (Rs. per sheet)

28,69,155

27,78,474

26,82,847

586

601

691

FY20

FY21

FY22

FY20

FY21

FY22

EBITDA (Rs. Crore)/ Margins (%)

Export Realization (Rs. per sheet)

9.9%

16.3

10.7%

18.8

6.5%

12.3

788

698

657

FY20

FY21

FY22

FY20

FY21

FY22

Annual Highlights – MDF

Sales Volumes (CBM)

Realization (Rs. per CBM)

1,76,545

83,592

77,520

24,416

19,733

10,041

FY20

FY21

FY22

FY20

FY21

FY22

EBITDA (Rs. Crore)/ Margins (%)

Export Volumes (CBM)

Export Realization (Rs. per CBM)

13.6%

11.6%

22.7

FY20

18.1

FY21

14.8%

64.4

FY22

14,114

22,239

22,103

21,977

367

FY20

232

FY21

FY22

FY20

FY21

FY22

Annual Financial Highlights

Particulars (Rs. Crore)

Revenue

Cost of Services & Raw Materials

(Increase) / Decrease In Stocks

Purchase of Finished Goods

Employee Cost

Other Expenses

EBITDA

EBITDA M

Other Income

Depreciation

Finance Cost

Exceptional Items

PBT

Tax

PAT

PAT M

FY22

624.2

366.9

-45.3

2.6

40.7

185.4

73.9

11.8%

1.4

24.4

20.3

0.0

30.7

7.88

22.79

3.7%

FY21

335.4

174.2

5.7

1.7

26.8

92.0

35.0

10.4%

4.3

9.7

12.4

1.5

18.6

4.94

13.70

4.1%

Y-o-Y (%)

86.1%

111.4%

142bps

66.2%

(44bps)

Key Financial Ratios

Return on Equity

Return on Capital Employed

Debt to equity

10.1%

5.2%

7.9%

5.1%

4.6%

7.2%

1.7

1.4

1.5

FY20

FY21

FY22

FY20

FY21

FY22

FY20

FY21

FY22

ROE – PAT/Shareholders Fund; ROCE – EBIT/(Shareholders Fund+Total Debt – Investments); Debt to Equity – Total Debt/ Equity

Way Ahead

Laminates

MDF

Working towards accretive value creation

Increase capacity utilization • • Work towards increasing utilization of laminates capacity from current levels

Achieve optimum capacity utilization in existing plants and attain higher efficiencies

Further expand market presence • •

Enhance distribution reach – new channel partners and category penetration in existing channels Enhance penetration with leading architects and interior designer community with state-of-the-art tools

Product & Services • • •

Capture customer feedback and changing trends to differentiate portfolio Premiumization of portfolio, increase in contribution of value added products in the revenue mix Relentlessly focus on offering quality products and services

Ensure sustainable and responsible growth through Agro Forestry

What is agroforestry? • Land use system which integrate trees and shrubs on farmlands and rural landscapes to enhance productivity,

profitability, diversity and ecosystem sustainability.

Win-win for Farmers & RDL

Active participation in government- sponsored agroforestry projects

Farmers in coffee growing regions of South India growing trees on farmland

Fast growing trees such as eucalyptus, acacia, silver oaks

RDL strategically sources Agro-forestry wood from farmers

Benefits

Environmental protection security

Increasing forest / tree cover

Income and livelihood opportunities for rural smallholder farmers

Improvement in productivity

Farmers gain second source of income

Conservation of natural resources & forest

Thank you

Rushil Décor Limited Mr. Hiren Padhya, Chief Financial Officer, Email – hiren.padhya@rushil.com Website – www.rushil.com

Adfactors PR, India Mr. Shiv Muttoo/ Mr. Smit Shah Tel - +91 9833557572/ +91 9870789596 Email – shiv.muttoo@adfactorspr.com | smit.shah@adfactorspr.com