5334702025-07-012025-09-305334702025-09-305334702025-03-315334702025-04-012025-09-305334702025-07-012025-09-30in-capmkt:OtherExpenses1Member5334702025-04-012025-09-30in-capmkt:OtherExpenses1Member5334702025-07-012025-09-30in-capmkt:ReportableSegments1Member5334702025-07-012025-09-30in-capmkt:ReportableSegments2Member5334702025-07-012025-09-30in-capmkt:ReportableSegments3Member5334702025-07-012025-09-30in-capmkt:ReportableSegments4Member5334702025-07-012025-09-30in-capmkt:ReportableSegments5Member5334702025-04-012025-09-30in-capmkt:ReportableSegments1Member5334702025-04-012025-09-30in-capmkt:ReportableSegments2Member5334702025-04-012025-09-30in-capmkt:ReportableSegments3Member5334702025-04-012025-09-30in-capmkt:ReportableSegments4Member5334702025-04-012025-09-30in-capmkt:ReportableSegments5Member5334702025-07-012025-09-30in-capmkt:ReportableSegments1Member5334702025-07-012025-09-30in-capmkt:ReportableSegments2Member5334702025-07-012025-09-30in-capmkt:ReportableSegments3Member5334702025-07-012025-09-30in-capmkt:ReportableSegments4Member5334702025-07-012025-09-30in-capmkt:ReportableSegments5Member5334702025-04-012025-09-30in-capmkt:ReportableSegments1Member5334702025-04-012025-09-30in-capmkt:ReportableSegments2Member5334702025-04-012025-09-30in-capmkt:ReportableSegments3Member5334702025-04-012025-09-30in-capmkt:ReportableSegments4Member5334702025-04-012025-09-30in-capmkt:ReportableSegments5Member5334702025-07-012025-09-30in-capmkt:ReportableSegments1Member5334702025-09-30in-capmkt:ReportableSegments1Member5334702025-07-012025-09-30in-capmkt:ReportableSegments2Member5334702025-09-30in-capmkt:ReportableSegments2Member5334702025-07-012025-09-30in-capmkt:ReportableSegments3Member5334702025-09-30in-capmkt:ReportableSegments3Member5334702025-07-012025-09-30in-capmkt:ReportableSegments4Member5334702025-09-30in-capmkt:ReportableSegments4Member5334702025-07-012025-09-30in-capmkt:ReportableSegments5Member5334702025-09-30in-capmkt:ReportableSegments5Member5334702025-07-012025-09-30in-capmkt:ReportableSegments1Member5334702025-09-30in-capmkt:ReportableSegments1Member5334702025-07-012025-09-30in-capmkt:ReportableSegments2Member5334702025-09-30in-capmkt:ReportableSegments2Member5334702025-07-012025-09-30in-capmkt:ReportableSegments3Member5334702025-09-30in-capmkt:ReportableSegments3Member5334702025-07-012025-09-30in-capmkt:ReportableSegments4Member5334702025-09-30in-capmkt:ReportableSegments4Member5334702025-07-012025-09-30in-capmkt:ReportableSegments5Member5334702025-09-30in-capmkt:ReportableSegments5Member5334702025-07-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15334702025-04-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15334702025-07-012025-09-30AuditorDomain1iso4217:INRiso4217:INRxbrli:shares533470RUSHILNOTLISTEDINE573K01025RUSHIL DECOR LIMITEDMain BoardEquity2025-04-012026-03-312025-11-082025-10-29INRMillionsQuarterlySecond quarterMulti segment2025-11-0811:00:002025-11-0813:15:00trueCash Flow IndirectDeclaration of unmodified opinion2025-07-012025-09-30UnauditedConsolidated2356490000633000023628200001333940000280000-365300002006200007038000085560000633280000228753000075290000075290000023990000239900000513000000000513000001500005145000051810000-252000051960000-252000029342000010.190.19000.190.191 The above unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025 have been reviewed by the Audit Committee and thereafter approved by the Board of Directors at their respective meetings held on November 08, 2025. <BR> 2 The above unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025 have been prepared in accordance with Indian AS as prescribed under section 134 of the Companies Act, 2013. <BR> 3 The company has declared Final Dividend of Rs. 0.10 per equity share (Face Value of Rs. 1/- per share) for the year ended March 31, 2025 as approved by the shareholders in 31st Annual General Meeting held on September 20, 2025. <BR> 4 The Company raised the funds by way of issue of Convertible Warrants on Preferential Basis to the Promoter Group and Non-Promoters in the board meeting held on October 26, 2023 and the same was approved in the Extraordinary General Meeting held on November 18, 2023. On December 23, 2023, the Company allotted 41,30,000 Convertible Warrants at an issue price of Rs.297/- per warrant to Promoter Group and Non-Promoters as approved by the general body and in terms of the In-Principle approval accorded by the exchanges on December 12, 2023. Further, the equity shares of the Company were sub-divided from 1 share of Rs.10 each to 10 shares of Rs.1 each having record date August 09, 2024. During the previous quarter, the company received an amount of Rs.147.02 Million. The Company has received total amount of Rs.930.35 Million till September 30, 2025. <BR> 5.The company has received proceeds from preferential allotment till September 30, 2025 amounting to Rs.930.35 Million. The Utilization of the Net Proceeds towards the Objects of the Preferential issue through Convertible Warrants is summarized below: <BR> Particulars Amount to be funded from the Net Proceeds Amount Utilised till 30.09.2025 <BR> (Rs. in Million) (Rs. in Million) <BR> Decorative laminates including <BR> bigger size (Jumbo size) laminates <BR> manufacturing Project at Mansa 900.00 773.20 <BR> Working Capital Margin Requirement 100.00 0.00 <BR> MDF Plant & Machinery as well as <BR> Civil Work for existing MDF <BR> Manufacturing Plants 100.00 95.30 <BR> General Corporate Purpose 126.61 33.70 <BR> Total 1226.61 902.20 <BR> Balance Unutilized as on 30.09.2025 28.15 <BR> 6.The Competent Authority “Securities Appellate Tribunal, Mumbai” has vide its Order dated October 15, 2025, dismissed the appeal filed by Vespera Fund Limited against the order of the Securities and Exchange Board of India (SEBI) of March, 2025. The said appeal related to Vespera Fund Limited’s application under Regulation43B of the SEBI (Foreign Portfolio Investors) Regulations, 2019, seeking relaxation to pay the balance 75% of the consideration amount towards convertible warrants and to exercise conversion into equity shares of the Company. The SAT has upheld SEBI’s order and dismissed the appeal filed by Vespera Fund Limited. Further, upon pronouncement of the above order, the SAT has, on request of the appellant, extended the earlier status quo direction for a further period of six weeks from October 15, 2025. Accordingly, the Company has not forfeited the 10,00,000 convertible warrants of Vespera Fund Limited even though it has not paid the balance 75% amount to the Company. On getting final order of Securities Appellate Tribunal, Mumbai, Company will act according to order of authority. <BR> 7. During the reporting quarter ended September 30, 2025, the Company recognized a foreign exchange loss of Rs.17.08 million and for half yearly ending September 30, 2025, Company recognized foreign exchange loss of Rs.74.17 million, primarily on account of the revaluation of its ECA loan in EURO. This loss was driven by an adverse movement in the EURO-INR exchange rate. This has been recorded under other expenses as foreign exchange fluctuation loss in the financial results. <BR> Table showing details of Profit Before tax (PBT) after eliminating the effect of foreign exchange fluctuation. <BR> (Rs. in Million) <BR> Particular Quarter Ended Half Year Ended Year Ended <BR> Sep’25 Jun’25 Sep’24 Sep’25 Sep’24 Mar’25 <BR> Profit / (Loss) before tax 83.65 (181.37) 156.05 (97.72) 320.97 609.65 <BR> Add: Effect of foreign exchange <BR> fluctuation loss/(gain) 17.08 57.09 28.30 74.17 14.77 (22.81) <BR> Profit / (Loss) before tax but <BR> without considering foreign exchange <BR> fluctuation effect 100.73 (124.28) 184.35 (23.55) 335.74 586.84 <BR> Profit / (Loss) before tax in % after <BR> giving forex effect 3.58% (10.21%) 6.79% (2.37%) 7.03% 6.97% <BR> Profit / (Loss) after tax in % before <BR> giving forex effect 4.31% (6.99%) 8.03% (0.57%) 7.35% 6.49% <BR> <BR> 8.On April 9, 2025, a fire occurred in the Energy Plant area of the Company’s MDF Manufacturing Plant located in Andhra Pradesh, which resulted in a temporary disruption of production activities. Production resumed on May 14, 2025. The Company maintains adequate insurance coverage for property, plant and equipment, as well as for loss of profit due to business interruption. The Company is in the process of submission of insurance claims for both property damage and business interruption losses arising from the incident. <BR> Pending final assessment and approval of the claim amount by the insurance company, no adjustments have been made in the accompanying financial statements. Appropriate accounting entries will be recorded in the period in which the claim amount is approved and becomes virtually certain of realization, in accordance with the requirements of Ind AS 37 – Provisions, Contingent Liabilities and Contingent Assets. <BR> 2025-04-012025-09-30UnauditedConsolidated4148050000107500004158800000230281000013500004078000036838000015478000016922000012314800004268800000-1100000000-1100000000-20610000-206100000-893900000000-89390000300000-89090000-85960000-3430000-85660000-34300002934200001-0.31-0.3100-0.31-0.31Other Expenses633280000Other Expenses1231480000703125000025883000000449300000001300001160000001670000932500002110500000104390000765045000024171000000180853000035600007616000007981200002686370000005103470000001275392000029342000060636200006357040000410300006398070000114199000000012580000012677900004035000059697000001662000019217300001628460000256640000208238000023390200003600000397108000074840000388200000004434120000006355850000127539200009.Earnings Per Share (EPS) for the unaudited financial results for the quarter ended September 30, 2025, has been computed after giving effect to the stock split. The company’s equity shares were subdivided from one share of Rs.10 each into ten shares of Rs.1 each, with the record date being August 9, 2024. The company has not given effect of the warrants issued to Vespera Fund Limited while calculating the diluted EPS, as the matter is pending before the Securities Appellate Tribunal. <BR> 10.During the Quarter, the Company has provided a loan of SGD 50,000 to its wholly owned subsidiary, Rushil Decor Pte. Ltd. (Singapore). <BR> 11.Segment Information as per Ind-AS 108, “Operating Segments” is disclosed in Segment Reporting. <BR> 12.Subsequent to the reporting date: <BR> i.The Company received a total of Rs.114.17 million from the Government of Andhra Pradesh as incentives under the scheme of INDUSTRIAL DEVELOPMENT POLICY 2015-20 in October 2025. This amount includes Rs.103.77 million towards power subsidy, out of which Rs 88.82 million had already been recognized and disclosed as receivable under “Other Current Assets” in the financial year 2024–25 and remaining Rs.14.95 million has been recognized in current quarter ended September 30, 2025. And Rs.10.40 million towards stamp duty reimbursement, which will be adjusted against the land value. <BR> ii.To meet the growing demand in the overseas market for jumbo-size laminates and to enhance overall production capacity, the Company successfully commenced Phase I of its Jumbo Plant on April 30, 2025, with an installed capacity of ~1.2 million sheets per annum (considered on a 1 mm thickness basis). <BR> Further, in line with this expansion strategy, the Company initiated trial production under Phase II of its Jumbo Size Laminate Sheets Project in October 2025 at its newly established manufacturing facility located at Village Itla, near Kalyanpura Patia, Gandhinagar–Mansa Road, Taluka Mansa, District Gandhinagar, Gujarat. Phase II adds an additional production capacity of ~1.6 million sheets per annum (on a 1 mm thickness basis). With the successful implementation of both phases, the total installed capacity of the Jumbo Plant stands at ~2.8 million sheets per annum (on a 1 mm thickness basis). <BR> iii.Rushil Decor Limited (“the Company”) presently holds 48,45,400 equity shares, representing 51% of the paid-up share capital of its subsidiary, Rushil Modala Ply Limited (“the Subsidiary Company”). In alignment with the Company’s strategic objective to optimize its investment portfolio and enhance overall operational efficiency, the Board has approved the dilution of the Company’s shareholding in the Subsidiary Company by up to 29% of its total paid-up share capital, at a consideration of Rs.10/- (Rupees Ten only) per equity share. This decision reflects the Company’s proactive approach towards focusing resources on core growth areas and improving shareholder value. <BR> 13.Previous period figures have been re-arranged/re-grouped wherever necessary. <BR> Laminates & allied products562570000Medium Density Fiber Board1747290000Polyvinayl Chloride Board90430000Plywood24050000Unallocated0Laminates & allied products1007850000Medium Density Fiber Board3033190000Polyvinayl Chloride Board176360000Plywood42790000Unallocated0242434000042601900006785000011214000023564900004148050000Laminates & allied products27900000Medium Density Fiber Board117350000Polyvinayl Chloride Board4140000Plywood-3720000Unallocated0Laminates & allied products57470000Medium Density Fiber Board-18380000Polyvinayl Chloride Board9940000Plywood-4250000Unallocated014567000044780000703800001547800000075290000-110000000Laminates & allied products3918870000Medium Density Fiber Board8362210000Polyvinayl Chloride Board331170000Plywood141670000Unallocated012753920000012753920000Laminates & allied products825680000Medium Density Fiber Board2624400000Polyvinayl Chloride Board105160000Plywood57260000Unallocated2743350000635585000006355850000154770000-5140000-124700000-1148300000-33230000001330900000-69670000016922000002058300000-958000000000000-1320000-410000041626000030626000000022590000028367000000000000214000033866000000000000000000000000-19190000-35571000000202580000-490000000000344920000245680000029340000154770000093000069640000-24000000-240000059600003560000Amount of items that will not be reclassified to profit and loss200000200000Amount of items that will not be reclassified to profit and loss4000004000005000010000000150000300000UnauditedtruePankaj R. Shah & Associatestrue2027-10-31