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Swing Capital

Rushil Decor Ltd

NSE: RUSHIL BSE: 533470

Incorporated in 1993, Rushil Decor Ltd manufactures and sells Laminate Sheets, Medium Density Fibre Board, Pre-laminated Medium Density Fibre Board boards, and Polyvinyl Chloride Board[1]

₹15.4
52W: ₹12.5 — ₹34
PE 49.2 · Book ₹21.7 · -29% vs book
Market Cap₹452 Cr
Stock P/E49.2Price to Earnings
ROCE10.1%Return on Capital
ROE7.96%Return on Equity
Div. Yield0.66%Face Value ₹1

Strengths

  • +Stock is trading at 0.70 times its book value

Weaknesses

  • −Company has low interest coverage ratio.
  • −Company has a low return on equity of 12.3% over last 3 years.

Shareholding Pattern

Promoters55.11%
FIIs1.29%
DIIs0.06%
Public43.54%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters55.34%54.81%▼0.554.63%▼0.256.37%▲1.755.11%▼1.355.11%55.11%55.11%
FIIs2.15%1.95%▼0.21.96%▲0.01.35%▼0.61.18%▼0.21.24%▲0.11.23%▼0.01.29%▲0.1
DIIs0%0%0.07%▲0.10.06%▼0.00.06%0.06%0.06%0.06%
Public42.51%43.24%▲0.743.35%▲0.142.21%▼1.143.65%▲1.443.6%▼0.043.61%▲0.043.54%▼0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales204.61213.12233.43223.5228.63210.39228.81177.29233.24215.23
Expenses175.68182.47204.19197.93199.15183.23205.69179.29210.18191.84
Operating Profit28.9330.6529.2425.5729.4827.1623.12-223.0623.39
OPM %14.14%14.38%12.53%11.44%12.89%12.91%10.1%-1.13%9.89%10.87%
Net Profit10.5511.36912.3111.611.5112.88-13.685.975.67
EPS ₹0.40.430.340.460.420.420.45-0.470.20.19

AI Insights

Revenue Trend

TTM revenue at ₹855Cr, down 4% YoY. OPM at 8%.

Debt Position

Borrowings at ₹277Cr. Debt-to-equity ratio: 0.46x. Healthy balance sheet.

Capex Cycle

CWIP at ₹25Cr (4% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.06% (+0.06pp change). FIIs: 1.29% (+0.37pp change). Promoters hold 55.11%.

Margin & Efficiency

ROCE declining from 11% (Mar 2014) to 10% (Mar 2025). Working capital days: 45.

Valuation

PE 49.2x with 10.1% ROCE. Price is -29% above book value of ₹21.7. Dividend yield: 0.66%.

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