Q3 2024 Rushil Decor Ltd Earnings Call Transcript
Key Points
- Rushil Decor Ltd (BOM:533470) saw a noteworthy upswing in demand in Q3 FY 2024 compared to Q2, attributed to festivities, stable raw material prices, and better operating leverage.
- The Chikkamagaluru plant in Karnataka achieved its highest-ever sales volume in December 2023, surpassing 120% in capacity utilization.
- The company has set an ambitious target of planting 8 million saplings by FY 2024 to ensure a quality supply of raw materials and mitigate future price fluctuations.
- Rushil Decor Ltd (BOM:533470) achieved a significant expansion in market reach by onboarding 500+ dealers and distributors for both laminate and MDF segments.
- The company is progressing with its Greenfield capex of INR90 crores for a premium laminate project aimed at export markets like Europe, USA, Australia, and New Zealand.
- The laminate segment experienced a year-on-year volume decline of 5%, although utilization stood at a robust 80% in Q3 FY 2024.
- The net revenue from operations for the nine months ended December 31, 2023, stood at INR611 crores, down from INR624 crores last year.
- EBITDA for the first nine months of FY 2024 stood at INR91 crores, down from INR121 crores in the previous year.
- The company anticipates a marginal increase in timber prices, which could impact future costs.
- The implementation of a market expansion strategy resulted in a modest reduction in realization, which the company believes will help gain a competitive edge.
Ladies and gentlemen, good day and welcome to Rushil Decor Limitedâs Q3 FY 2024 earnings call hosted by Asian Markets Securities Limited. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions, and expectations of the company as on date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. Actual results may differ from such expectations, projections, etc., whether expressed or implied.
Participants are requested to exercise caution while referring to such statement and remarks. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Karan Bhatelia from Asian Markets Securities Limited. Thank you and over to you, sir!
Thank you, [Tushar]. A very good afternoon and welcome, all, to the Rushil Decorâs Q3 FY 2024 earnings conference call hosted by Asian Markets Securities. From the
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