Earnings Call Transcript for unaudited standalone and Consolidated Financial Results for the Quarter ended on 30th June, 2026

RDL/033/2026-27 Date: 17.08.2026 To, To, National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, Phiroze Jeejeebhoy Towers, Bandra – Kurla Complex, Dalal Street, Bandra (E), Mumbai – 400051 Mumbai - 400001 NSE EQUITY SYMBOL: RUSHIL SCRIP CODE: 533470 ISIN: INE573K01025 Subject: Transcript of the conference call for Unaudited Standalone and Consolidated Financial Results for the Quarter ended 30th June, 2026 With reference to our earlier intimation No. RDL/032/2026-27 dated August 10, 2026 and in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the transcript of the conference call with Investors and analysts held on Monday, August 10, 2026 in respect of the Unaudited Standalone and Consolidated Financial Results for the Quarter ended June 30, 2026. The same will also be available on the website of the Company at www.rushil.com. This is for your information and record. Thanking you, Yours faithfully, For Rushil Decor Limited Hasmukh K. Modi Company Secretary Encl.: a/a “Rushil Decor Limited Q1 FY27 Earnings Conference Call” August 10, 2026 MANAGEMENT: MR. RUSHIL THAKKAR – MANAGING DIRECTOR MR. HIREN PADHYA – CHIEF FINANCIAL OFFICER MODERATOR: MR. KARAN BHATELIA – ASIAN MARKET SECURITIES Page 1 of 14 Rushil Décor Limited August 10, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Q1 FY27 Earnings Conference Call of Rushil Decor hosted by Asian Markets Securities Private Limited. As a reminder, all participant lines will be in a listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing ‘*’then ‘0’on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Karan Bhatelia. Thank you, and over to you, sir. Karan Bhatelia: Thank you. On behalf of Asian Markets Securities Private Limited, we welcome all to the Rushil Decor Q1 FY27 Investor Con-Call. From the management side, we have Rushil Thakkar, Managing Director and Hiren Padhya, CFO would like to hand over Rushil Bhai for his opening remarks. We can open the floor for Q&A. Thank you, and over to you Rushil Bhai. Rushil Thakkar: Thank you Karan bhai. Good afternoon, ladies and gentlemen. Welcome to Rushil Decor Limited Earnings Conference Call for the first quarter ended 30th June 2026. Thank you for joining us today. I am joined by our CFO, Mr. Hiren Padhya. The earnings presentation has been shared with the stock exchanges, and we hope you had an opportunity to review it. Let me begin with an overview of our performance and the operating environment during the quarter. The Q1 FY27 saw a steady improvement in the company's operating performance, supported by the normalized operation at our Andhra Pradesh MDF facility and improved contribution from the laminate business. On a consolidated basis, revenue from operations increased to 27.8% year-over-year to INR 2,920 million in Q1 FY27. EBITDA was INR182 million with an EBITDA margin of 7.9%, while profit after tax was INR 20 million. During Q1 FY27, the company also undertook a planned annual maintenance shutdown during April. During the period, we continued to right size overhead cost, improve operational efficiency and streamline product inventory. Coming to the laminate business, it remained a key growth driver during the quarter. Revenue increased 65.3% year-over-year to INR 736 million. Supported by improved domestic demand and improving traction in export market. Domestic revenue grew 60.6% year-over-year to INR 251 million, while the export revenue increased to 67.9% to INR 485 million. Total sales volume increased 27.9% year-over-year to approximately 8.8 lakh sheets. Blended realization also improved by 29.3% year-over-year to INR 836 per sheet, supported by an improved product mix. The business reported the EBITDA of INR 52 million with an EBITDA margin of 7%. The Jumbo laminate business made a progress during Q1 FY27. Revenue was INR 110 million, representing a 25% substantial increase, while the total sales volume increased to 20.4% subsequently to approximately 1.13 lakh sheets. The business reported EBITDA of INR 23 million, translating into an EBITDA margin of 20.6%, in line with the management expectation. The improving contribution from the Jumbo laminate supported the overall performance of the laminate business. We continue to see increasing acceptance of our Jumbo laminate offerings across the international markets, which remains an important area of focus as we work towards improving capacity utilization. Page 2 of 14 Rushil Décor Limited August 10, 2026 Turning to the MDF business. Operations remained stable during Q1 FY27 following the planned annual maintenance shutdown. Revenue increased to 17.2% year-over-year to INR 1,456 million. The EBITDA was INR 123 million with a margin of 8.4%. Focus remains on increasing the share of value-added MDF products, which will help improve realization, profitability and over the medium term. We also continuing to strengthen our MDF retail presence across the key markets during Q1 FY27. Revenue increased 13.1% year-over-year to INR 96 million, supported by 6.9% growth in sales volume. The business reported the EBITDA of INR 8 million during Q1 FY27. The broader operating environment remains challenging. Chemical and other raw material price remained elevated, while freight costs were significantly higher and the shipping routes continue to face disruption arising from ongoing conflict in West Asia. Despite these challenges, the laminate business reported a significant increase in export revenue, supported by increasing acceptance of jumbo laminate across the international market and improved product mix. At the same time, we rationalized our domestic market mix by optimizing supplies across the selected regions. This has allowed us to focus more on market and customer segment offering better profitability across the MDF and laminate business. During Q1 FY27, we further strengthened our domestic distribution network by adding direct 15 distributors and 46 retailers and dealers. We're also expanding our international presence by entering into two new markets, Honduras and Greece. These initiatives will help us improve our market reach, strengthen product availability and support further growth across our business. Looking ahead, our focus for FY2027 remains on improving capacity utilization in Jumbo Laminates business and increasing the share of value-added MDF business. We will also focus on improving the overall business through better product mix. Additionally, we continue to focus on improving our working capital and reducing debt. With no major capital expenditure plan beyond the maintenance capex, we remain focused on strengthening our cash flow, improving operational efficiency and creating long-term value for all our stakeholders. Thank you. That concludes my remarks. I will now hand over the call to our CFO, Mr. Hiren Padhya, to take you through the financial performance in greater detail. Hiren Padhya: Good afternoon, everyone, and thank you, Mr. Rushil. A warm welcome to all participants joining us today. I will now take you through the financials and operational performance of Rushil Decor Limited for the Q1 FY27. Starting with the consolidated financial performance. Revenue from operations for Q1 FY27 was INR 2,290 million, reflecting a growth of 27.8% year-on-year. Gross profit for Q1 FY27 was INR 892 million with a gross profit margin of 39%. EBITDA was INR 182 million with an EBITDA margin of 7.9%. Profit before tax was INR 25 million, while PAT was INR 20 million. Page 3 of 14 Rushil Décor Limited August 10, 2026 The improvement in revenue was supported by normalized operations at Andhra Pradesh MDF facility and higher contribution from the laminate business. Profitability [Showing first 8,000 characters — download PDF for full document]