Rushil Decor Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Published 1 Jun 2026 | Consumer Durables | Market Cap: ₹523 Cr

For FY27, overall turnover is expected to be INR 1,100 crores or more, driven by ramp-up in Jumbo laminate and Singapore operations. FY26 revenue expected around INR 970 crores, slightly below earlier guidance of INR 1,000 crores.

From Rushil Decor Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Price

17.1

Market Cap

₹523 Cr

P/E Ratio

77.7

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Rushil Decor Ltd — Quarterly revenue & net profit

Revenue Net Profit
Sep 2024
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025

Reported quarterly figures (₹ Cr). Latest: revenue ₹215 Cr, net profit ₹6 Cr.

Full financials →

📊 Revenue & Sales Performance

  • For FY27, overall turnover is expected to be INR 1,100 crores or more, driven by ramp-up in Jumbo laminate and Singapore operations.
  • Jumbo laminate turnover projected to increase from around INR 30 crores in FY26 to at least INR 100 crores in FY27.
  • Singapore operations, newly started, expected to contribute additional turnover from FY27, focusing on Far East markets with faster response times.
  • Existing laminate capacity is near optimal utilization (~85-90%), with current revenue around INR 200 crores; Jumbo project expansion will significantly add capacity.
  • Within 2-3 years, total laminate segment (including Jumbo) expected to reach INR 450-500 crores turnover.
  • MDF business capacity utilization stable around 90-95%, with value-added products contributing to improved realizations and volumes.
  • Overall EBITDA margins expected at 11-12% with growth in volumes and improved capacity utilization.

📈 Profitability & Margins

  • FY26 revenue expected around INR 970 crores, slightly below earlier guidance of INR 1,000 crores.
  • EBITDA margins anticipated between 10-12% in FY26; steady margin maintenance expected.
  • FY27 turnover target: approximately INR 1,100 crores or more including Jumbo and Singapore expansions.
  • Jumbo plant revenue projected to ramp up from INR 30 crores in FY26 to INR 100 crores+ in FY27.
  • Singapore operations started recently; contribution expected to grow from next quarter onwards.
  • EBITDA margin with Jumbo scaling up expected to be 12%+ in FY27.
  • Laminate segment, including Jumbo phases, expected to reach INR 400-500 crores revenues in 2-3 years with blended EBITDA margin around 12-13%.
  • MDF capacity utilization stable around 90-95% with no immediate expansion required.
  • Overall optimistic about improved performance and earnings growth supported by capacity ramp-up, export growth, and cost optimization going forward.

🏗️ Capital Expenditure Plans

  • The company has planned a capital expenditure (capex) of around INR 100 crores for Phase 1 and Phase 2 of the Jumbo Laminate facility.
  • This investment is expected to generate revenues of INR 150 crores to INR 175 crores by the end of FY27.
  • Expansion in the Jumbo Laminate segment is aimed to reach optimal capacity utilization (around 80-85%) by Q3-Q4 FY26.
  • There is a mention of starting operations in Singapore, which is a strategic move to increase export volumes, particularly in the Far East, but specific capex details are not yet available.
  • No immediate expansion plans are indicated for the MDF segment; current capacity utilization is expected to be sufficient for FY27.
  • The company will provide further updates on capacity additions and new projects once more details are available.

💰 Fundraising & Capital Structure

The transcript does not mention any current or planned fundraising through debt or equity. Key points related to financials and debt are: - Net debt-to-equity ratio stood at 0.42x as of September 30, 2025, indicating prudent financial management. - No specific discussion or announcement about raising new debt or equity funds during the call. - Focus remains on operational recovery, capacity utilization, and growth through existing resources. - Expansion plans, such as Jumbo Laminate ramp-up and Singapore operations, are expected to be funded through internal accruals or existing arrangements (not explicitly stated but no new fundraising mentioned). - No queries from analysts regarding new funding or capital raising during the Q&A. Hence, as per the available information, there is no indication of any new equity or debt fundraising planned or underway.

📋 Order Book & Pipeline

- The company has assured export orders roughly equivalent to around 105 containers; exact capacity percentage is not calculated yet due to varied product thickness and categories. - For Q3 and Q4 FY26, estimated export revenue from Jumbo business is around INR 25 to 30 crores, with trial shipments having started post-certification in mid-September. - It's too early to comment on orderbook visibility for 2-3 years out when Jumbo revenue may reach INR 200-250 crores, as current exports are mostly trial orders. - Delivery cycles to export markets are long (over 45 days post-port shipment), limiting near-term booked visibility. - Approximately 15-20% of the Jumbo capacity is already being utilized for exports to Russia, where certification is not required. Overall, current orderbook is in early stages with trial shipments commenced; firm long-term booked orders beyond initial exports aren’t yet established.

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Frequently Asked Questions

What were Rushil Decor Ltd Q2 FY26 results?

For FY27, overall turnover is expected to be INR 1,100 crores or more, driven by ramp-up in Jumbo laminate and Singapore operations. FY26 revenue expected around INR 970 crores, slightly below earlier guidance of INR 1,000 crores.

What is Rushil Decor Ltd share price analysis?

Rushil Decor Ltd currently shows a neutral. The stock trades at a P/E of 77.7 with a market cap of ₹523 Cr. Investors should review the full earnings analysis for detailed insights.

Is Rushil Decor Ltd planning capital expenditure?

The company has planned a capital expenditure (capex) of around INR 100 crores for Phase 1 and Phase 2 of the Jumbo Laminate facility.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.