One of the top gainers on BSE Small-Cap Index: This plywood manufacturing stock was in focus as Board is likely to announce dividend!

The stock is up by 35 per cent from its 52-week low of Rs 243.95 per share and gave multibagger returns of 790 per cent in a decade.

Today, the stock market was in plummeted with Sensex down by 0.95 per cent and Nifty-50 Index down by 0.75 per cent. On the other hand, the BSE Mid-Cap Index is down by 0.35 per cent and the BSE Small-Cap Index is down by 0.75 per cent.

Though the market was in red, one of the Top Gainers on the BSE Small-Cap Index, shares of Rushil Decor Ltd gained 6.70 per cent to an intraday high of Rs 327.70 per share with a spurt in volume by more than 2 times from its previous closing of Rs 307.20 per share. The stock’s 52-week high is Rs 406.7 and its 52-week low is Rs 243.95.

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 Limited is holding a meeting of its Board of Directors on Thursday, May 09, 2024 to discuss and approve the audited financial results for the fiscal year ended March 31st, 2024 and recommend a dividend on the company's equity shares for the same period.

Despite a recent development where Rushil Decor Limited promoter Krupesh Ghanshyambhai Thakkar had 19,85,925 equity shares (15.47 per cent of total holdings) revoked by the Bombay Stock Exchange (BSE), the company continues to expand its leadership in sustainable building materials.

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Through their newly formed subsidiary, Rushil Modala Ply Limited, Rushil Decor is now venturing into eco-friendly plywood production using agroforestry-sourced wood. This majority-owned subsidiary strengthens its commitment to green practices and allows it to offer a wider range of home decor products, including laminates, MDF boards, PVC, wooden flooring, and now eco-friendly plywood. With this expansion, Rushil Decor aims for significant revenue and EBITDA growth by FY25-26.

Quarterly Results: The total income increased by 1.3 per cent to Rs 213.47 crore, PBT increased by 13.4 per cent to Rs 15.21 crore and PAT increased by 11 per cent to Rs 11.36 crore in Q3FY24 compared to Q3FY23.

Nine-month results: The company reported a total income of Rs 610.54 crore, PBT of Rs 45.4 crore and PAT of Rs 34.11 crore in 9MFY24 compared to Rs 624.48 crore, Rs 85.37 crore and Rs 64.11 crore respectively in 9MFY23.   

The company falls under the BSE Small-cap Index and has a market cap of Rs 860 crore. The shares of the company have an ROE of 25.27 per cent. The stock is up by 35 per cent from its 52-week low of Rs 243.95 per share and gave multibagger returns of 790 per cent in a decade. Investors should keep an eye on this small-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.