Share price of this micro-cap stock moved up by nearly 4% to Rs. 312.4 on BSE in the morning trading session of Monday, compared to its previous closing price of Rs. 300.4, after the company announced commencing commercial production in its Karnataka factory.
With a market capitalisation of Rs. 811.8 crores, at 10:24 a.m. the shares of Rushil Decor Limited were trading in the green at Rs. 306.3, up by 1.7 percent on NSE.
The company has delivered positive returns of about 9.1 percent in the last one year. However, it has given negative returns of nearly 7.5 percent in the last six months and around 21.07 percent, so far in 2024.
According to recent regulatory filings with the stock exchanges, Rushil Modala Ply Limited, a subsidiary company of Rushil Decor Limited, has commenced commercial production of plywood in its factory premises in Karnataka.
Rushil Modala Ply Limited was incorporated on March 19, 2024, and is engaged in the business of manufacturing and sale of plywood and allied products.
In terms of financials, the company’s revenue from operations grew by nearly 1.5 percent YoY from Rs. 210 crore in Q3 FY22-23 to Rs. 213 crore in Q3 FY23-24, accompanied by an increase in the net profit of 10 percent YoY, from Rs. 10 crore in Q3 FY22-23 to Rs. 11 crore in Q3 FY23-24.
As of March 2024, FIIs hold 1.17 percent of the shares, whereas the Promoters’ holding remains unchanged at 56.39 percent of shares in Rushil Decor.
Rushil Decor Limited is a leader in the Decorative High-Pressure Laminates market in India with global footprints in over 51 countries and was established in 1993.
The company is primarily engaged in the business of manufacturing and sale of Laminate Sheets, Medium Density Fibre Board, Pre-laminated Medium Density Fibre Board boards, and Polyvinyl Chloride Board.
Written by Shivani Singh
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