Integrated Filing — IndAS

General information about company

Scrip Code	533470
NSE Symbol	RUSHIL
MSEI Symbol	NOTLISTED
ISIN	INE573K01025
Name of company	RUSHIL DECOR LIMITED
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-04-2025
Date of end of financial year	31-03-2026
Date of board meeting when results were approved	28-01-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	08-01-2026
Description of presentation currency	INR
Level of rounding used in financial results	Lakhs
Reporting Type	Quarterly
Reporting Quarter	Third quarter
Nature of report standalone or consolidated	Consolidated
Whether results are audited or unaudited for the quarter ended	Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Unaudited
Segment Reporting	Multi segment
Description of single segment
Start date and time of board meeting	28-01-2026 11:15:00
End date and time of board meeting	28-01-2026 15:40:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification	Not applicable

Financial Results Ind-AS

Amount in (Lakhs)

Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-10-2025	01-04-2025
B	Date of end of reporting period	31-12-2025	31-12-2025
C	Whether results are audited or unaudited	Unaudited	Unaudited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
1	Income
	Revenue from operations	21,654.10	63,134.60
	Other income	80.30	187.30
	Total income	21,734.40	63,321.90
2	Expenses
(a)	Cost of materials consumed	13,179.60	36,207.80
(b)	Purchases of stock-in-trade	0.00	13.50
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	(1,640.20)	(1,232.30)
(d)	Employee benefit expense	1,933.20	5,617.00
(e)	Finance costs	808.50	2,356.20
(f)	Depreciation, depletion and amortisation expense	868.30	2,560.50
(f)	Other Expenses
1	Other Expenses	5,868.90	18,183.20
	Total other expenses	5,868.90	18,183.20
	Total expenses	21,018.30	63,705.90
3	Total profit before exceptional items and tax	716.10	(384.00)
4	Exceptional items	0.00	0.00
5	Total profit before tax	716.10	(384.00)
6	Tax expense
7	Current tax	0.00	0.00
8	Deferred tax	194.80	(11.30)
9	Total tax expenses	194.80	(11.30)
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0.00	0.00
11	Net Profit Loss for the period from continuing operations	521.30	(372.70)
12	Profit (loss) from discontinued operations before tax	0.00	0.00
13	Tax expense of discontinued operations	0.00	0.00
14	Net profit (loss) from discontinued operation after tax	0.00	0.00
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	(1.40)	(1.40)
16	Total profit (loss) for period	519.90	(374.10)
17	Other comprehensive income net of taxes	1.50	4.50
18	Total Comprehensive Income for the period	521.40	(369.60)
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent	530.00	(329.70)
	Total profit or loss, attributable to non-controlling interests	(10.09)	(44.41)
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	531.50	(325.20)
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	(10.10)	(44.40)
21	Details of equity share capital
	Paid-up equity share capital	2,934.20	2,934.20
	Face value of equity share capital	1	1
27	Details of debt securities
22	Reserves excluding revaluation reserve
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	0.19	-0.13
	Diluted earnings (loss) per share from continuing operations	0.19	-0.13
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	0.19	-0.13
	Diluted earnings (loss) per share from continuing and discontinued operations	0.19	-0.13
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		Textual Information(1)

Disclosure of notes on financial results

Textual Information(1)	1.The above unaudited standalone and consolidated financial results for the quarter and nine months ended on December 31, 2025 have been reviewed by the Audit Committee and thereafter approved by the Board of Directors at their respective meetings held on January 28, 2026. 2.The above unaudited standalone and consolidated financial results for the quarter and nine months ended on December 31, 2025 have been prepared in accordance with Indian AS as prescribed under section 134 of the Companies Act, 2013. 3.The company has forfeited Rs.74.25 Million being 25% of the amount paid on 10,00,000 convertible warrants due to non-receipt of outstanding 75% amount on the said warrants held by Vespera Fund Limited as per the provision of Regulation 169(3) of Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. Amount received on account of 25% has been transfer to Capital Reserve. 4.The company has received proceeds from preferential allotment till December 31, 2025 amounting to Rs. 930.40 Million. The Utilization of the Net Proceeds towards the Objects of the Preferential issue through Convertible Warrants is summarized below: (Rs. in Million) Particular Amount Amount Size of Preferential Allotment (41,30,000 Warrants @ Rs. 297 per warrant) 1226.61 Proceeds generated from Preferential Allotment till December 31, 2025: …(A) 930.40 Less : Amount utilized as at December 31, 2025 For Decorative laminates including bigger size (Jumbo size) laminates manufacturing Project at Mansa …(B) 800.00 For MDF Plant & Machinery as well as Civil Work for existing MDF Manufacturing Plants …(C) 96.70 For Corporate General Purpose … (D) 33.70 (930.40) Balance Un-utilised as at December 31, 2025 NIL 5.As part of the divestment of equity in Rushil Modala Ply Limited (“RMPL”), the Company executed an Amendment Agreement-cum-Share Purchase Agreement on November 21, 2025 with Dr. Modala Nageshwar Rao, representing himself and his family members (the “Purchaser”), and RMPL, for the divestment of up to 29% of the equity stake / investment held by the Company in its subsidiary, RMPL, in more than one tranches. Pursuant to the said agreement, the Company transferred 9.5 million equity shares during the reporting quarter. As a result, RMPL ceased to be a subsidiary with effect from November 21, 2025 and became an Associate Company due to sale / dilution of equity. The effective date of deconsolidation has been considered as November 30, 2025, and accordingly, RMPL has been accounted for as an associate company for the month of December 2025. 6.The Government of India has consolidated 29 existing labour legislations into a unified framework comprising four labour codes viz the Code on Wages, 2019, the Code on Social Security, 2020, the Industrial Relations Code, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the “Codes”). The Codes have been made effective from November 21, 2025. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The incremental impact of these changes, assessed by the Company, on the basis of the information available, consistent with the guidance provided by the Institute of Chartered Accountants of India, is not material and has been recognised in the consolidated financial results of the Company for the quarter and nine months ended December 31, 2025. Once Central / State Rules are notified by the Government on all aspects of the Codes, the Company will evaluate impact, if any, on the measurement of employee benefits and would provide appropriate accounting treatment. 7.Segment Information as per Ind-AS 108, “Operating Segments” is disclosed in Segment Reporting. 8.Previous period figures have been re-arranged/re-grouped wherever necessary.

Textual Information(1)

1.The above unaudited standalone and consolidated financial results for the quarter and nine months ended on December 31, 2025 have been reviewed by the Audit Committee and thereafter approved by the Board of Directors at their respective meetings held on January 28, 2026. 2.The above unaudited standalone and consolidated financial results for the quarter and nine months ended on December 31, 2025 have been prepared in accordance with Indian AS as prescribed under section 134 of the Companies Act, 2013. 3.The company has forfeited Rs.74.25 Million being 25% of the amount paid on 10,00,000 convertible warrants due to non-receipt of outstanding 75% amount on the said warrants held by Vespera Fund Limited as per the provision of Regulation 169(3) of Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. Amount received on account of 25% has been transfer to Capital Reserve. 4.The company has received proceeds from preferential allotment till December 31, 2025 amounting to Rs. 930.40 Million. The Utilization of the Net Proceeds towards the Objects of the Preferential issue through Convertible Warrants is summarized below: (Rs. in Million) Particular Amount Amount Size of Preferential Allotment (41,30,000 Warrants @ Rs. 297 per warrant) 1226.61 Proceeds generated from Preferential Allotment till December 31, 2025: …(A) 930.40 Less : Amount utilized as at December 31, 2025 For Decorative laminates including bigger size (Jumbo size) laminates manufacturing Project at Mansa …(B) 800.00 For MDF Plant & Machinery as well as Civil Work for existing MDF Manufacturing Plants …(C) 96.70 For Corporate General Purpose … (D) 33.70 (930.40) Balance Un-utilised as at December 31, 2025 NIL 5.As part of the divestment of equity in Rushil Modala Ply Limited (“RMPL”), the Company executed an Amendment Agreement-cum-Share Purchase Agreement on November 21, 2025 with Dr. Modala Nageshwar Rao, representing himself and his family members (the “Purchaser”), and RMPL, for the divestment of up to 29% of the equity stake / investment held by the Company in its subsidiary, RMPL, in more than one tranches. Pursuant to the said agreement, the Company transferred 9.5 million equity shares during the reporting quarter. As a result, RMPL ceased to be a subsidiary with effect from November 21, 2025 and became an Associate Company due to sale / dilution of equity. The effective date of deconsolidation has been considered as November 30, 2025, and accordingly, RMPL has been accounted for as an associate company for the month of December 2025. 6.The Government of India has consolidated 29 existing labour legislations into a unified framework comprising four labour codes viz the Code on Wages, 2019, the Code on Social Security, 2020, the Industrial Relations Code, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the “Codes”). The Codes have been made effective from November 21, 2025. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The incremental impact of these changes, assessed by the Company, on the basis of the information available, consistent with the guidance provided by the Institute of Chartered Accountants of India, is not material and has been recognised in the consolidated financial results of the Company for the quarter and nine months ended December 31, 2025. Once Central / State Rules are notified by the Government on all aspects of the Codes, the Company will evaluate impact, if any, on the measurement of employee benefits and would provide appropriate accounting treatment. 7.Segment Information as per Ind-AS 108, “Operating Segments” is disclosed in Segment Reporting. 8.Previous period figures have been re-arranged/re-grouped wherever necessary.

Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-10-2025	01-04-2025
Date of end of reporting period		31-12-2025	31-12-2025
Whether results are audited or unaudited		Unaudited	Unaudited
Nature of report standalone or consolidated		Consolidated	Consolidated
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
1	Laminates & allied products	5,928.20	16,006.80
2	Medium Density Fiber Board	15,238.00	45,569.80
3	Polyvinayl Chloride Board	0.008203	2,583.90
4	Plywood	0.001234	0.005513
5	Unallocated	0.00	0.00
	Total Segment Revenue	22,109.90	64,711.80
	Less: Inter segment revenue	455.80	1,577.10
	Revenue from operations	21,654.10	63,134.70
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
1	Laminates & allied products	430.30	1,005.00
2	Medium Density Fiber Board	1,106.60	922.60
3	Polyvinayl Chloride Board	(0.90)	98.50
4	Plywood	(12.80)	(55.30)
5	Unallocated	0.00	0.00
	Total Profit before tax	1,523.20	1,970.80
	i. Finance cost	808.50	2,356.20
	ii. Other Unallocable Expenditure net off Unallocable income	0.00	0.00
	Profit before tax	714.70	(385.40)
3	(Segment Asset - Segment Liabilities)
	Segment Asset
1	Laminates & allied products	42,734.90	42,734.90
2	Medium Density Fiber Board	80,147.20	80,147.20
3	Polyvinayl Chloride Board	3,186.70	3,186.70
4	Plywood	342.00	342.00
5	Unallocated	0.00	0.00
	Total Segment Asset	1,26,410.80	1,26,410.80
	Un-allocable Assets	0.00	0.00
	Net Segment Asset	1,26,410.80	1,26,410.80
4	Segment Liabilities
	Segment Liabilities
1	Laminates & allied products	10,452.80	10,452.80
2	Medium Density Fiber Board	26,066.70	26,066.70
3	Polyvinayl Chloride Board	1,118.60	1,118.60
4	Plywood	0.00	0.00
5	Unallocated	24,652.00	24,652.00
	Total Segment Liabilities	62,290.10	62,290.10
	Un-allocable Liabilities	0.00	0.00
	Net Segment Liabilities	62,290.10	62,290.10
	Disclosure of notes on segments

Other Comprehensive Income

Amount in (Lakhs)

Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-10-2025	01-04-2025
B	Date of end of reporting period	31-12-2025	31-12-2025
C	Whether results are audited or unaudited	Unaudited	Unaudited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Items that will not be reclassified to profit or loss	2.00	6.00
	Total Amount of items that will not be reclassified to profit and loss	2.00	6.00
2	Income tax relating to items that will not be reclassified to profit or loss	0.50	1.50
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss	0.00	0.00
5	Total Other comprehensive income	1.50	4.50