Rushil Decor Ltd - Stock Valuation and Financial Performance

Rushil Decor (RDL), a flagship company of the Rushil Group, was incorporated on May 24, 1993 as “Rushil Decor Private Limited” under the provisions of the Companies Act, 1956 with Registrar of Companies, Gujarat, Dadra & Nagar Haveli. However, the name was changed to “Rushil Decor Limited” on December 4, 2007. The promoters have been associated with laminated production since more than a decade under the brand “Vir Laminate”. RDL is the modern state-of-art manufacturer of Decorative Laminated Sheets with a network of branches, distributors and dealers across India.

The company’s product offering includes:

• Decorative Laminate Sheets
• Plain Particle Boards

All the products are manufactured by the company in integrated multi-product modern facilities strategically located at Gujarat, Western part of India. The company currently has five manufacturing units which caters to the domestic as well as international customers.

To consolidate the efforts and for better administration, the group companies Viz Mica Rushil Private limited and Rushil High Pressure laminates Private limited engaged in the same line of activity have been amalgamated with RDL with effect from April 1,2005 pursuant to order of Gujarat High court dated January 23, 2007. The combined installed capacity is 30.00 Lakhs Sheets per annum.

RDL has set up a large distribution network and operates through 5 marketing offices, 14 Consignment agents and 70 distributors. As on April 30, 2011, RDL has a network of 2150 dealers who in turn supply to sub dealers/ retailers giving a Vir Laminate presence for marketing of the products. This ensures the availability of products off-the-shelf in any corner of India. The company has the manpower strength of 51 who are deployed for marketing.

RDL has commenced one more unit at Village Navalgadh, Taluka: Dhrangadhra, District: Surendranagar, Gujarat, for manufacture of Plain Particle Board. Apart from this the company is under the process of commissioning an additional plant for Medium Density Fibreboard (MDF) through the proposed Initial Public Offer. Its diversification into MDF manufacture is in furtherance of strategy of increasing share in the mid market segment, which is the largest segment of the market.

Krupesh Ghanshyambhai Thakkar, managing director of company has more than a decade of experience in trading and manufacture of plywood, laminates and allied products. He has been conferred with accolades which include “Rajiv Gandhi Shiromani Award” and 'Indira Gandhi Shadbhavna Award' in the year 2007, acknowledging his achievement in their field of work and contribution to the Nation.