Rushil Decor Ltd

- No new fundraising through debt is required for the ongoing projects. - For two projects currently being executed: the Jumbo laminate project is tied up with fundraising that requires no additional debt. - The plywood project, with a total CAPEX of approximately INR 40-42 crores (company share of INR 20-21 crores), is planned to be funded internally. - The company expects to continue reducing existing debt by INR 50 to 55 crores annually. - Overall, no further equity or debt funding is anticipated for these near-term expansion plans.

- The Jumbo Laminate project in Gandhinagar, initially planned for Q2, is now scheduled for commissioning by the end of Q4 FY’25. This will add approximately 2.8 million sheets annually and cater to the growing Jumbo Laminate market. - Next financial year, a new plywood project with a total CAPEX of around INR 40-42 crores is planned, with Rushil’s share being INR 20-21 crores, funded internally without requiring debt. - Management is evaluating new products which may lead to future capacity expansion, but no definite CAPEX guidance was provided yet. - No additional CAPEX is expected to meet MDF volume targets up to FY’26. - There is a potential plan to set up a wholly owned subsidiary in Singapore to strengthen presence in Southeast Asia and drive international growth. - Overall debt expected to reduce gradually by INR 50-55 crores yearly through ongoing deleveraging efforts.

- FY’25 revenue growth is expected to be 10% to 15% on a consolidated basis. (Keyur Gajjar) - H1 FY’25 revenue increased by 14.6% year-over-year, indicating strong performance. (Hiren Padhya) - MDF segment continues growing with 19.2% volume increase YoY; value-added MDF products now 54% of division revenue. (Rushil Thakkar, Keyur Gajjar) - Laminates volumes stable with slight YoY decline, but exports remain steady; new Jumbo Laminate project to start end Q4 FY’25, adding 2.8 million sheets capacity. (Rushil Thakkar) - Increasing focus on value-added products and export markets to drive higher realizations and margins. (Keyur Gajjar, Hiren Padhya) - No additional CAPEX planned till FY’26, current capacities can meet volume targets. (Keyur Gajjar) - Overall, management targets consistent growth with maintained margins around 12% EBITDA for FY’25. (Multiple Management)

- Rushil Décor Limited targets **10% to 15% consolidated revenue growth for FY’25** compared to FY’24. - **EBITDA margin expected around 12% for FY’25**, stable compared to current levels. - New Jumbo Laminate project with higher margin (14%-16%) will **improve margins in FY’26 and beyond**. - MDF segment margins expected to be maintained around **13%-14%**, with improvements from increased capacity utilization and value-added products. - Export growth and expansion into new international markets (e.g., Southeast Asia via Singapore subsidiary) provide further growth visibility. - Focus on operational efficiency and currency hedging to protect profitability amidst market fluctuations. - No significant revenue loss anticipated from planned plant shutdown; new capacity coming on stream by Q4 FY’25 supports growth momentum. - Management committed to **consistent earnings growth and sustainable profitability** over coming years.

- The transcript does not explicitly mention the current or expected order book or pending orders for Rushil Décor Limited. - However, the management highlighted positive market response and promising enquiries from European exhibitions, indicating a healthy demand pipeline. - The Jumbo Laminate project in Gandhinagar is expected to begin operations by end of Q4 FY25, which will add capacity and potentially increase order intake. - The company is expanding international markets and is planning a wholly owned subsidiary in Singapore to serve Southeast Asia, indicating expected growth in orders from these regions. - Overall, while specific order book figures are not provided, management's commentary suggests a robust and growing demand outlook.