10:1 stock split & FIIs bought 2,69,367 shares: Board of this plywood company allots 75,000 equity shares upon the conversion of warrants; Results announcement scheduled for today!
The stock gave multibagger returns of 860 per cent in a decade.
Today, the shares of Rushil Decor Ltd surged 2.96 per cent to an intraday high of Rs 363.95 per share from its previous closing of Rs 353.50 per share. The stock’s 52-week high is Rs 406.7 and its 52-week low is Rs 261.45.
The company announces the allotment of 75,000 equity shares with a face value of Rs. 10 each (to be adjusted to 750,000 shares with a face value of Rs. 1 each post the upcoming share split) to two investors. This follows the conversion of 75,000 warrants from the total 41,30,000 warrants issued on December 23, 2023. The investors have paid the remaining 75 per cent of the issue price, as per the warrant terms. This allotment was approved by the Company's Fund-Raising Committee on July 31, 2024. The company’s Quarterly Results (Q1FY25) will be announced today.
Earlier, the company established a strong presence in over 50 countries, poised to make a significant stride in its global expansion by entering the North American market. This strategic move coincides with the company's participation in the International Woodworking Fair (IWF) in Atlanta from August 6th to 9th, 2024. Rushil Decor aims to capitalize on North America's substantial Laminates and MDF market, leveraging IWF Atlanta as a platform to showcase its products and connect with industry leaders.
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.
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About the Company
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.
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 bought 2,69,367 shares and 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 Rs 940 crore. The stock gave multibagger returns of 860 per cent in a decade.
Disclaimer: The article is for informational purposes only and not investment advice.
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