Rushil Decor Q3 FY26: Revenue up 2.3% YoY to ₹216.5 Cr; Laminates Drive Growth

Rushil Decor Limited (RDL) announced its unaudited standalone and consolidated financial results for the third quarter and nine months ended December 31, 2025. The company reported consolidated Revenue from Operations of ₹2,165 million (₹216.5 crore) for Q3 FY26, a 2.3% year-on-year increase, though it saw a 8.1% sequential decline from Q2 FY26. EBITDA for the quarter stood at ₹231 million (₹23.1 crore) with a margin of 10.7%, and Profit After Tax (PAT) was ₹52 million (₹5.2 crore) with a margin of 2.4%. For the nine-month period ended December 31, 2025, Revenue from Operations was ₹6,313 million (₹631.3 crore), a 5.4% decrease year-on-year.

The Laminates business emerged as a key growth driver, with revenue increasing by 20.4% year-on-year to ₹585 million (₹58.5 crore). This growth was primarily fueled by strong domestic demand, which saw a 55.6% year-on-year increase in revenues, supported by higher volumes and improved realisations. Exports revenue also increased by 6.8% year-on-year, with a notable 24.0% rise in export realisations due to higher-value offerings and increased acceptance of jumbo-size laminates internationally. Capacity utilization in the Laminates division remained robust at 93% above.

The MDF Boards business reported total revenue of ₹1,486 million (₹148.6 crore) for the quarter. Domestic MDF revenues grew by 29.4% year-on-year, driven by strong volume growth in India. While export volumes declined in line with the company's calibrated approach, blended realisations improved by 8.3% year-on-year. The company noted that value-added MDF continued to gain share, accounting for 43% of MDF volumes and 54% of MDF value during the nine-month period, with a target to achieve 50% value-added MDF by volume by the end of FY2026.

Commenting on the performance, Mr. Rushil Thakkar, Managing Director, highlighted the seasonally softer demand environment during the festive period and continued pressure from elevated resin prices. He emphasized the company's focus on maintaining pricing discipline and strengthening the product mix. The company is exploring expansion of its export footprint into new geographies and has introduced three distinct Jumbo Laminates brands. Looking ahead, the focus remains on scaling the Laminates business, expanding its export footprint, and strengthening design-led offerings, while in the MDF segment, the emphasis will be on increasing the share of value-added products, optimizing capacity utilization, and improving realisations.

The company also announced its Q3 and 9M FY2026 Earnings Conference Call scheduled for Thursday, January 29, 2026, at 3:00 PM IST.