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Rushil Decor Ltd.

BSE: 533470 Sector: Others
NSE: RUSHIL ISIN Code: INE573K01017
BSE 00:00 | 07 Aug 101.60 1.05
(1.04%)
OPEN

101.80

HIGH

103.45

LOW

101.45

NSE 00:00 | 07 Aug 101.80 1.35
(1.34%)
OPEN

104.95

HIGH

106.00

LOW

101.00

OPEN 101.80
PREVIOUS CLOSE 100.55
VOLUME 1231
52-Week high 194.00
52-Week low 65.90
P/E 6.58
Mkt Cap.(Rs cr) 152
Buy Price 100.00
Buy Qty 11.00
Sell Price 103.25
Sell Qty 48.00
OPEN 101.80
CLOSE 100.55
VOLUME 1231
52-Week high 194.00
52-Week low 65.90
P/E 6.58
Mkt Cap.(Rs cr) 152
Buy Price 100.00
Buy Qty 11.00
Sell Price 103.25
Sell Qty 48.00

Rushil Decor Ltd. (RUSHIL) - Chairman Speech

Company chairman speech

Dear Stakeholders

Let me take the pleasure to report that your Company had an excellent year withimprovements across several fronts. Each year brings with it a measurable progress inoperational developments as well as expansion of the strategies policies and processesthat are the foundation of our Company. We are privileged to have the time to refine andstreamline our operating procedures and make sure that they comply with regulatorycompliances.

Since its inception the Company has focused on operating procedures that consider boththe material and intangible aspects for which our business enterprises are responsible.These can range from simple actions like building efficient and 100% green products. Everydecision that we make ultimately imposes itself on our operating environment and thusaffects sustainable achievement of corporate goals in the future.

During the year 2018-19 the Company's performance was satisfactory with Total Revenueof ? 352.23 Cr. EBIDTA was ? 45.14 Cr and EBIDTA Margin was 12.82%. PAT was ? 14.33 Cr andPAT Margin was 4.07%.

The steady performance in financial numbers is generated through our consistent driveto achieve beyond the expected aspirational limits and our incessant efforts to become arecognised force in the engineered wood product industry.

Indian continued to maintain its growth momentum emerging as sixth largest economyglobally and the third largest by purchasing power parity (PPP) (Source: Indian Expressand The Economic Times).

The industry has a huge penetration opportunity for India in the MDF segment.

According to World Bank Study the Asian markets are estimated to be the biggestconsumer of furniture with large demand generating from India. Stabilisation of GST andseveral other factors like sectoral transformation from unorganised to organised sector avariety of the Government-sponsored missions like 'Make in India' 'Housing-for- Allwillfurther boost the positive momentum. The furniture market in India is anticipated to cross$27 Bn by 2022 on account of expanding working population base rising number ofhousehold units and increasing disposable income. Besides that increasing number ofhotels along with growing tourist footfalls combined with growing awareness regardingnewer designs of furniture and changing consumer lifestyle are also expected to aid thecountry's furniture market over the next five years.

There is an interesting thing to note that in India an average age of home buyer hasdropped from 40 to 27 and youth population with unique and individual preferences areopting for modern furniture rather than traditional furniture. Improving literacy rate andgrowing influence of Western culture are motivating Indian consumers to adopt modernlifestyle. The modernisation of offices commercial space educational and medicalinstitutions are also driving the demand for stylish and aesthetic interiors.

At Rushil we are strongly poised to leverage this opportunity through our next-genproduct offerings. We have devised '4F strategy that addresses our growth priorities goingahead. Fundamentally we look forward to penetrate our products into larger segmentsstrengthen our regional leadership in the South and penetrate deeper into the othermarkets of Eastern India. The geographical stronghold will be aided by macro factors andcapacity expansions that will allow us to build the 'furniture of the future'. Besidesthat we shall continue to be nature-friendly through responsible sourcing of wood.

I would like to thank everyone at RDL for their contribution towards the achievementsin 2018-2019 the people who used our products for their confidence in us ourstakeholders and partners for their collaboration and our shareholders for theircontinued support. Last but most importantly our employees without whom we would nothave been able to fulfil our obligations of progressive development in all spheres. It iswith a sense of pride that we can look at the achievements of 2018-19 and be even moreoptimistic of what 201920 may bring!

Best Wishes

Krupesh Thakkar