10:1 Stock Split in Next Month & FIIs Increase Stake in this Plywood Manufacturing Company in Q1FY25; Scrip Up 4.7 Per Cent Today
The stock gave multibagger returns of 880 per cent in a decade.
Today, the shares of Rushil Decor Ltd surged 4.7 per cent to an intraday high of Rs 352 per share from its previous closing of Rs 336.30 per share. The stock’s 52-week high is Rs 406.7 and its 52-week low is Rs 261.45.
The Board of Directors of the Company is scheduled to be held on Thursday, August 01, 2024, inter alia, to consider, approve and take on record the Unaudited Standalone and Consolidated Financial Results for the first quarter ended 30th June, 2024.
Additionally, the Board announced a stock split of shares in the ratio 1:10 i.e., existing 1 equity share having a face value of Rs 10 each, into 10 equity shares having a face value of Re 1 each, fully paid-up. The Board fixed the record date for the stock split as Friday, August 09, 2024.
Rushil Decor Ltd is primarily engaged in the manufacturing and sale of laminate sheets, medium-density fibre boards, prelaminated medium-density fibre board boards, polyvinyl chloride (PVC) boards and particle boards.
Rushil Decor is also capitalizing on the multi-billion-dollar growth potential of the global wood panel market by strategically expanding into South America. This move comes as the company experiences strong financial performance, with a 9 per cent year-over-year growth and export revenue contributing significantly to their overall income. They see South America as a key market to fulfil the high demand for MDF and laminates, leveraging their expertise in both product lines. This expansion aligns with their vision of reaching Rs 2,500 crore in annual revenue by 2029, allowing them to further solidify their global presence while providing high-quality and sustainable products to new customers. Their participation in Interzum Bogota, an industry fair focused on sustainability and innovation.
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Quarterly Results: The net sales increased by 9.1 per cent to Rs 233.43 crore and operating profit increased by 9.1 per cent to Rs 31.14 crore in Q4FY24 compared to Q4FY23. The company reported a net profit of Rs 9 crore in Q4FY24 compared to a net profit of Rs 13.56 crore in Q4FY23.
Annual results: The net sales increased by 0.7 per cent to Rs 843.97 crore in FY24 compared to FY23. The company reported an operating profit of Rs 122.79 crore and a net profit of Rs 43.11 crore in FY24 compared to an operating profit of Rs 150.77 crore and a net profit of Rs 77.67 crore in FY23.
In June 2024, FIIs increased their stake to 2.15 per cent compared to 1.17 per cent in March 2024. The company falls under the BSE Small-cap Index and has a market cap of over Rs 900 crore. The stock gave multibagger returns of 880 per cent in a decade.
Disclaimer: The article is for informational purposes only and not investment advice.
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