Rushil Decor Limited (RDL) announced the transcript of its conference call concerning the Unaudited Standalone and Consolidated Financial Results for the Quarter ended December 31, 2025. The call, held on January 29, 2026, provided insights into the company's performance and strategic outlook. The company highlighted that the Laminate business was the key growth driver in Q3 FY26, with revenues and realizations improving year-over-year and quarter-over-quarter. Capacity utilization for laminates remained strong at over 93%. Domestic laminate volumes saw healthy growth, and exports improved substantially. Branded realizations increased by 16% year-over-year, and export realization grew by 24% year-over-year. The Jumbo Laminate business achieved a milestone with the commencement of commercial production under Phase 2, making the full planned capacity operational. The company is supplying to international markets including Russia, Portugal, Slovakia, Israel, and Romania, and is expanding into new markets like Uzbekistan, Kosovo, Poland, Cameroon, and Denmark. The Jumbo Laminates portfolio is positioned under three distinct brands: VIR KLADS, VIR TOPAZ, and VIR VAULT. In the MDF business, domestic demand remained stable, with volumes growing year-over-year and blended realization improving. Value-added MDF products continue to gain traction, accounting for 43% of volumes and 54% of values for the 9-month period, with a target to achieve 50% value-added contribution by volume by the end of the financial year. Consolidated revenue from operations for Q3 FY26 was ₹2,165 million (₹216.5 crore), a growth of 2.3% year-on-year. Gross profit margin was 46.7%, EBITDA margin was 10.7%, and Profit After Tax was ₹52 million (₹5.2 crore) with a margin of 2.4%. For the 9 months FY26, revenue was ₹6,313 million (₹631.3 crore), with a decline of 5.4% year-on-year. The company expects a better performance in the remaining part of the year. Segmental performance showed MDF revenue in Q3 FY26 at ₹1,486 million (₹148.6 crore), with domestic revenue growing 29.4% year-on-year. MDF EBITDA was ₹174 million (₹17.4 crore) with a margin of 11.7%. Laminates revenue grew by 20.4% year-on-year and 6.9% sequentially to ₹585 million (₹58.5 crore), with EBITDA of ₹57 million (₹5.7 crore) and a margin of 9.8%. The company provided a revenue guidance of around ₹900 crore for FY26 and expects it to exceed ₹1,000 crore in FY27. EBITDA margin guidance for FY26 is 8% to 9%, and for FY27 it is targeted at 10% to 11%. The management discussed the competitive intensity in the MDF market due to overcapacity and the focus on value-added products to counter pricing pressure. The company anticipates industry-level capacity to cross 6 million CBM by FY28.
