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Rushil Decor Limited — Annual Report 2020
Jul 30, 2020
61709_rns_2020-07-30_d78520ef-0c7b-412e-bf7a-523fbc031ad6.pdf
Annual Report
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RUiHIL DECOR LIMITED
Corporate Office: Rushil House Near Neelkanth Green Bungalow. Off Sindhu Bhavan Road. ShtlaJ. Ahmedabad-380058. GuJarat, INDIA
Regd. Office:
S No. 125, Near Kalyanpura Patta. Vtllage JTLA. Gandhinagar-Mansa Road, Ta Kaloi, Dist Gandhinagar-382845. Gujarat. INDIA. CIN. L25209GJ1993PLC019532
G +91-79 61400400 0 +91-79-61400401 0 www vtrlammate.com
RDL/020/2020-21 Date: 30.07.2020
To, National Stock Exchange of India Ltd. Exchange Plaza, Sandra - Kurla Complex, Sandra (E), Mumbai - 400 051 NSE EQUITY SYMBOL: RUSHIL
To,
BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400 001 BSE SCRIPT CODE: 533470
ISIN: INE573K01017
Dear Sir/ Madam,
Sub: Outcome of the Meeting of Board of Directors held on 3 ~~0~~ [th ] ~~d~~ ay of July, 2020 for Consideration and Approval of Audited Financial Results for the Quarter and year ended 31.03.2020
In compliance with Regulation 30 read with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015, this is to intimate that in the Board Meeting held on today (30[th ] day of July, 2020), Board of Directors of the Company "Rushil Decor Limited" has considered and approved the Audited Financial Result for the Quarter and year ended 31.03.2020.
The meeting was commenced at 11 :45 AM and concluded at 02:10 PM.
In this connection, we are enclosing herewith Quarterly Financial Results for the Quarter and Year Ended 31.03.2020 along with Audit Report.
The Report of auditor Is with unmodified opinion with respect to the Audited Financial Result of the company for the Quarter and Year Ended 31.03.2020
Please take the same in your records and do the needful.
Thanking you.
Yours Faithfully,
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For, Rushil Decor Limited
Ghanshyambhai A. Thakkar Director DIN: 00208843
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PARIKH & MAJMUDAR . I
CHARTERED ACCOUNTANTS
CA. (DR). HITEN PARIKH
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M.Com., LL.B., FCA., PH.D. CA. SANJAY MAJMUDAR B.Com .. LL.B., FCA
Independent Auditors' Report on Quarterly and Annual audited Standalone Ind AS Financial Results of M/s RUSHIL DECOR LIMITED Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
To,
The Board of Directors
RUSHIL DECOR LIMITED
Report on audit of Standalone Ind AS Financial Results
Opinion
We have audited the accompanying Statement of Standalone Ind AS Financial Results of RUSHIL DECOR LIMITED (the "Company"), for the three months and year ended March 31, 2020 (the "Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us, the statement:
-
a. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations; and
-
b. gives a true and fair view in conformity with Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34") prescribed under Section 133 of the Companies Act 2013 (the "Act") read with relevant rules issued there under and other accounting principles generally accepted in India of the net profit
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Basis for Opinion
We conducted our audit of the Statement in accordance with the Standards on Auditing ("SA"s) specified under Section143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Ind AS Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("ICAI") together with the ethical requirements that are relevant to our audit of the Standalone Financial Results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAl's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.
Emphasis of Matter
We draw attention to Note 3 in the accompanying statement of quarterly and year to date standalone financial results of the Company which describes the management's assessment of the likely impact of uncertainties related to outbreak of COVI D 19 global pandemic on the operations of the Company.
Our opinion is not modified on the above matters.
Managements Responsibilities for the Standalone Ind AS Financial Results
The Company's Board of Directors is responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these standalone Ind AS financial statements that give a true and fair view of the state of affairs (financial position),Profit or loss(financial performance including other comprehensive income), changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards ('Ind AS') specified under section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection
accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone Ind AS financial statements that give a true and fair view and are free from material misstatement, whether due. to fraud or error.
In preparing the standalone Ind AS financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those Board of Directors are also responsible for overseeing the Company's financial reporting process.
Auditors Responsibilities for the Audit of the Standalone Ind AS Financial Results
Our objectives are to obtain reasonable assurance about whether the standalone Ind AS financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Standards on Auditing will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if; individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone Ind AS financial statements
As part of an audit in accordance with Standards on Auditing, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
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sufficient and appropriate to provide a basis for our opinion. The risk of not. detecting a material misstatement resulting from fraud is higher than for one resulting from error, as. fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls system in place and the operating effectiveness of such controls.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
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Conclude on the appropriateness of management's use of the going concern basis of accounting and,, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone Ind AS financial statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
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Evaluate the overall presentation, structure and content of the standalone Ind AS financial statements, including the disclosures, and whether the standalone Ind AS financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that identify during our audit. �--&>" ....., ,. }\, \l,\r. ti4. �•f•;• I ,.�' � ���'\f -\ \ •1 @'<'� l)'Ul )/" ! o.. " l r'<f .. .-·;�[r0,.. ] ·:[r] --:-�l / �� -: ; 1 �9-, \ r? . ';;[...] < "�� ::,·, :..::,� · .
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence; and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other Matter
The standalone annual financial results include the results for the quarter ended March 31, 2020 being the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subjected to a limited review by us.
Place: Ahmedabad Date: 30-07-2020
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For Parikh & Majmudar Charter Accountants FR No. 07525W hip No. 40230 UDIN: 20040230AAAAFU9940
Corporate Office: Rushil House
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RmHIL DECOR LIMITED
Regd. Office:
S No 125, Near Kalyanpura Patla, Village ITLA. Gandhmagar-Mansa Road, Ta Kaloi, 01st Gandhmagar-382845, Gu1arat. INDIA CIN l25209GJ1993PLC019532
Near Neelkanth Green Bungalow Off Sindhu Bhavan Road, ShilaJ, Ahmedabad-380058, GuJarat, INDIA
G +91-79 61400400 0 +91-79-61400401 a wwwvirlarmnate.com
RUSHIL DECOR LIMITED
Regd. Office: S. No.125, Near Kalyanpura Patia, Viii. Illa, Gandhinagar Mansa Road, Tai. Kaloi. Dist Gandhinagar -382845. Gujarat, India
(� in lacs)
Statement of Audited Financial Results for the Quarter and Year ended 31st March,2020
| Sr No. Particulars |
Sr No. Particulars |
Quarter Ended | Quarter Ended | Quarter Ended | Year Ended 31.03.2020 31.03.2019 (Audited) (Audited) |
Year Ended 31.03.2020 31.03.2019 (Audited) (Audited) |
|
|---|---|---|---|---|---|---|---|
| 31.03.2020 (Audited) |
31.12.2019 (Unaudited) 31.03.2019 (Audited) |
||||||
| 1 2 3 4 5 6 7 8 9 10 |
Income a) Revenue from operations b) Other income Total Income Expenses a) Cost of materials consumed b) Purchases of Stock-in-Trade c) Changes in inventories of finished goods work-in-progress and Stock-in-Trade d) Employee benefits expense e) Finance costs f) Depreciation and amortization expense g) Other expenses Total expenses Profit before tax (1-2) Tax expense: a) Current tax b) Deferred tax Total Net Profit (+)/Loss(-) for the period (3-4) Other Comprehensive Income, net of tax (OCI) a) Items that will not be reclassified to profit or loss b) Income tax relating to items that will not be reclassified to profit or loss Total Total Comprohensivo Income for the period(5+6) Paid up equity share capital (Face value of� 10/· each) Reserves (excluding Revaluation Reserve) as shown in the Audited Balance Sheet Earnings per share (Face value oft 10/· each) (Not Annualised) (1) Basic (2) Diluted |
7622.49 170.67 |
8597.41 41.05 8653.94 486.67 |
33559.80 353.58 |
34374.21 849.02 |
||
| 7793.16 4623.17 14.60 -578.07 799.50 -63.46 217.11 2579.84 |
8638.46 9140.61 |
33913.38 |
35223.23 | ||||
| 4035.71 41.95 305.00 786.65 650.34 218.50 2186.80 4218.99 . 514.93 690.07 494.91 217.19 2374.88 |
17309.44 135.36 25.59 2931.55 1204.43 868.94 9466.45 |
19337.08 6.11 -168.15 2562.23 1359.04 862.91 8972.07 |
|||||
| 7592.69 | 8224.96 8510.97 |
31941.76 |
32931.29 |
||||
| 200.47 | 413.50 629.64 1971.62 |
2291.94 |
|||||
| 539.00 -200.91 |
-343.28 -177.38 188.24 402.30 57.94 -735.65 |
658.68 199.76 |
|||||
| 338.09 | ·520.67 246.18 -333.35 |
858.44 1433.50 |
|||||
| -137.62 | 934.17 383.46 2304.97 |
||||||
| 47.81 -1.28 -13.00 0.65 7.54 43.96 1.80 -11.06 |
-5.15 1.80 |
||||||
| 34.81 -0.63 9.34 32.90 -3.35 |
|||||||
| -102.81 933.54 392.80 2337.87 1430.15 |
|||||||
| 1493.13 1493.13 . - -0.92 6.26 -0.92 6.26 |
1493.13 1493.13 . 21346.90 2.57 15.44 2.57 15.44 |
1493.13 19099.04 9.62 9.62 |
For, Rushil Decor Limited
Ghanshy�� Chairman DIN:00208843
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RU\HIL DECOR LIMITED
Regd. Office:
Corporate Office: Rushtl House Near Neelkanth Green Bungalow. Off Smdhu Bhavan Road. Sh1\aJ. Ahmedabad-380058. GuJarat. INDIA
S No 125. Near Kalyanpura Pat1a. Vlllage ITLA, Gandhmagar-Mansa Road, Ta Kaloi, Dlst Gandhinagar-382845. Guiarat. INDIA CIN L25209GJ1993PLC019532
G +91-79·61400400 0 +91-79-61400401 0 wwwwlammate.com
Statement of Assets and Liabilities
| Statement ofAssetsand Liabilities | ||
|---|---|---|
| (tinlacs) | ||
| S.No. Particulars |
As on 31.3.2020 (Audited) |
As on 31.3.2019 (Audited) |
| ASSETS 1 Non-current assets a) Property, Plant and Equipmen\ b) Capital work-in-progress c) Other Intangible assets d) Financial Assets (i) Investments (ii)Trade receivables (iii)Loans e) Deferred tax assets (net) f) Othernon-currentassets Sub-Total Non-current assets 2) Currentassets a) Inventories b) Financial Assets (ii)Trade receivables (iii)Cash and cash equivalents (iv)Bank balances other than (iii) above (v) Loans c) Other current assets Sub-Total Current assets TOTALASSfTS EQUIT & LIABILITIES: EQUIT: a) Equity Share capital b) Other Equity LIABILITIES: 1) Non-Current Liabilities a) Financial Liabilities (i) Borrowings (ii)Other financial liabilities (other than those specified in item (b), to be specified) b) Provisions c) Deferred tax liabilities(Net) d) Other non-current liabilities Sub-Total Non-Current Liabilities 2) Current liabilities a) Financial Liabilities (i) Borrowings (ii)Trade payables (iii)Other financial liabilities (other than those specified in item (c) b) Other current liabilities c) Provisions d) Current Tax Liabilities (Net) Sub-Total Current Liabilities Total Equityand liabilities - |
19720.42 33846.85 6.29 1.25 230.81 10.39 5452.23 |
20416.34 9778.47 10.14 1.25 171.88 9.66 9291.52 |
| 59268.24 8558.46 6115.94 65.50 516.54 4055.67 |
39679.26 8796.35 5520.53 65.90 523.52 316.18 2919.28 |
|
| 19312.11 | 18141.76 | |
| 78580.35 1493.13 21346.90 33884.66 866.67 213.20 2348.95 793.88 |
57821.02 1493.13 19099.04 18019.45 414.08 137.56 3073.53 800.24 |
|
| 38107.36 | 22444.86 |
|
| 5831.59 9578.53 1008.61 321.41 515.41 377.41 |
5298.81 7380.38 1202.48 241.53 635.67 25.12 |
|
| 17632.96 | 14783.99 |
|
| 78580.35 | 57821.02 |
|
| ',j For, RushilDecorLimited |
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-------------------------- � /"' /T's. .,.,...
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RmHIL DHOR LIMITED
Regd. Office:
Corporate Office: Rushil House Near Neelkanth Green Bungalow Off Sindhu Bhavan Road. ShilaJ, Ahmedabad-380058. Gujarat. !NOIA
S No. 125. Near Kalyanpura Pat1a, Village ITLA. Gandhmagar-Mansa Road, Ta Kaloi, 01st Gandhmagar-382845, Gujarat. !NOIA CIN L25209GJ1993PLC019532
G +9179-61400400 Q +91-79-61400401 0 wwwvirlaminate.com
| Standalone Statement of Cash Flow for year ended 31st March 2020 ' |
(t in lacs) | ||||
|---|---|---|---|---|---|
| Year Ended | |||||
| Particulars | 31.03.2020 | 31.03.2019 | |||
| (Audited) | (Audited) | ||||
| (A)Cash Flow From Operating Activities | |||||
| Profit before tax as per Standalone Statement of Profit & Loss | 1971.62 | 2291.94 | |||
| Adjustments for | |||||
| Re-measurement gain/(loss) on defined benefit plans | 43.96 | -5.15 |
|||
| Depreciation and amortization expense | 868.94 | 862.91 | |||
| Interest and Finance cost | 1204.43 | 1359.04 |
|||
| (Profit)/Loss on disposal of Property, Plant and Equipment | -5.53 | ||||
| 2111.80 | 2216.80 |
||||
| Operating Profit Before Working Capital Changes | 4083.42 | 4508.74 | |||
| Adjustment for Change In: | |||||
| (Increase)/ Decrease in Inventories | 237.90 | -472.72 |
|||
| {Increase)/ Decrease in Trade Receivables | -654.34 | -674.88 | |||
| (Increase) / Decrease in Financial Assets | 6.26 | -86.59 | |||
| (Increase) / Decrease in Other Assets | -1284.37 | -2387.34 | |||
| Increase/ {Decrease) in Trade Payables | 2261.11 | 1005.53 | |||
| Increase/ (Decrease) in Financial Liabilities | 195.76 | -360.68 | |||
| Increase/ (Decrease) m Other Liabilities | 149.15 | 749.90 | |||
| Increase/ (Decrease) in Short Term Provisions | -120.26 | 448.36 | |||
| 791.21 | -1778.42 |
||||
| 4874.63 | 2730.32 |
||||
| Direct Taxes Paid (Net of Refunds) | -161.61 | -869.73 | |||
| Net Cash Generated From Operations | 4713.02 | 1860.59 |
|||
| (B)Cash flow from Investing activities | |||||
| Purchase of Property, Plant and Equipment (including WIP & Pre-operative | -24239.87 | -11231.53 |
|||
| Adjustment for Revaluation Reserve | 221.00 | ||||
| Sale of Property, Plant and Equipment | 7.83 | - |
|||
| Purchase of Shares | - | -1.15 | |||
| Loans (Given) | 316.18 | -66.18 |
|||
| Changes in Non Current Assets | 4098.87 | -6076.28 |
|||
| Net Cash Generated From Investing Activities | -19816.99 | -17154.14 | |||
| (C)Cash Flow From Financing Activities | |||||
| Issue of share capital | - | 21.39 | |||
| Securities premium | 1980.90 | ||||
| Increase/ (Decrease) in Long term borrowings | 15865.21 | 14133.02 |
|||
| Increase/ (Decrease) in Short term borrowings | 532.79 | 616.66 |
|||
| Interest and Finance cost | -1204.43 | -1359.04 | |||
| Dividend Paid (Including Tax On Dividend) | -90.00 | -90.00 |
|||
| NetCashGeneratedFromFinancing Activities | 15103.57 | 15302.93 |
|||
| Net IncreaseIn Cash&Cash Equivalents | -0.40 | 9.38 | |||
| Cash & Cash Equivalents At | |||||
| Opening | 65.90 | 56.52 |
|||
| Closing | 65.50 | 65.90 |
|||
| For, Rushil Decor Limited | |||||
| -o'ln�r Ghanshyambhal A. Thakkar Chairman DIN:00208843 �/&,� --�-�------------------------------ |
Q [email protected] (D WWW rush1l.com
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RUiHIL DHOR LIMITED
Regd. Office:
Corporate Office: Rushll House Near Neelkanth Green Bungalow, Off Smdhu Bhavan Road. Shtlaj. Ahmedabad-380058, Gujarat, INDIA
S. No. 125. Near Kalyanpura Patta. Village ITLA. Gandhmagar-Mansa Road. Ta Kaloi. D1st. Gandhmagar-382845. Gujarat, INDIA CIN L25209GJ1993PLC019532
G +91-79-61400400 0 +91-79·61400401 a wwwvirlammate.com
| Segmentwise Reoorina for the QuarterandYear endned 31st March,2020 (tinlacs) |
Segmentwise Reoorina for the QuarterandYear endned 31st March,2020 (tinlacs) |
Segmentwise Reoorina for the QuarterandYear endned 31st March,2020 (tinlacs) |
Segmentwise Reoorina for the QuarterandYear endned 31st March,2020 (tinlacs) |
Segmentwise Reoorina for the QuarterandYear endned 31st March,2020 (tinlacs) |
Segmentwise Reoorina for the QuarterandYear endned 31st March,2020 (tinlacs) |
Segmentwise Reoorina for the QuarterandYear endned 31st March,2020 (tinlacs) |
Segmentwise Reoorina for the QuarterandYear endned 31st March,2020 (tinlacs) |
|---|---|---|---|---|---|---|---|
| Sr No Pariculars 1Segment Revenue (Gross) a Laminates & allied products b Particle Board c Medium Density Fiber Board d Polyvinayl Chloride Board e Unallocated Total Less: Inter segment revenue Gross sales from Operations 2 Segment Results (Profit) (+)/(Loss(-) before Tax and Interest): a Laminates & allied products b Particle Board c Medium Density Fiber Board d Polyvinayl Chloride Board e Unallocated Total Less: i Interest ii Other Unallocable expenditure Add: i Unallocable Income Total Profit Before Tax 3aSegment Assets a) Laminates & allied products b) Particle Board c) Medium Density Fiber Board d) Polyvinayl Chloride Board e) Unallocated Total Segment Assets 3bSegment Liabilities a) Laminates & allied products b) Particle Board c) Medium Density Fiber Board d) Polyvinayl Chloride Board e) Unallocated Total Seamen! Liabilities |
Quarter Ended 31.03.2020 31.12.2019 31.03.2019 /Audited) /Unaudited) /Audited) 3451.77 4145.13 4130.54 - - - 4037.33 4302,17 4380.78 160.77 187,79 180.98 - - - 7649.87 8635.09 8692.30 27,38 37.68 38.36 7622.49 8597.41 8653.94 |
Quarter Ended | Year ended 31.03.202031.03.2019 <Audited) (Audited) 16336.72 18293.39 - - 16706.96 15646.48 711.96 638.14 - - 33755.64 34578.01 195.84 203.80 |
||||
| 31.12.2019 31.03.2019 /Unaudited) /Audited) 4145.13 4130.54 - - 4302,17 4380.78 187,79 180.98 - - 8635.09 8692.30 37.68 38.36 |
|||||||
| 8597.41 | 8653.94 |
33559.80 34374.21 1611.25 1940.10 - -5.24 1830.11 1633.34 -107.35 -110.69 - 341.49 |
|||||
| -121.44 - 13.47 -28.75 316.04 |
759.78 - 631.12 -26.29 -262.22 |
583.83 -5.24 500.15 -8.38 96.13 |
|||||
| 179,32 -63.46 42.31 - |
1102.40 650.34 38.55 - |
1166.49 494.91 41.94 - |
3334.01 3799.00 1204.43 1359.04 157.96 148.02 - - |
||||
| 200.47 | 413.50 |
629.64 |
1971.62 |
2291.94 16749.83 733.97 15890.24 2681.48 21765.50 |
|||
| 16854.46 733.97 19434.31 2525.26 39032.34 |
17584 41 733.97 15718.88 3128.18 39151.24 |
16749.83 733.97 15890.24 2681.48 21765.50 |
16854.46 733.97 19434.31 2525.26 39032.34 |
||||
| 78580.34 | 76316.67 |
57821.02 | 78580.34 |
57821.02 |
|||
| 7069.23 131.09 4393.47 298.11 3312.57 |
8190.60 131.89 5170.89 202.36 2607.33 |
6442.48 7069.23 6442.48 134.28 131.09 134.28 4200.02 4393.47 4200.02 378.40 298.11 378.40 1676.37 3312.57 1676.37 |
|||||
| 15204.47 | 16303.07 |
12831.55 15204.47 12831.55 |
|||||
| For, Rushil Decor Limited 1C r Ghanshyambhai A. Thakkar Chairman DIN:00208843 |
I""'
,,..........
Q [email protected] (!) www.rushilcom
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RmHIL DECOR LIMITED
Regd. Office: S No 125, Near Kalyanpura Patta, Village ITLA, Gandhinagar-Mansa Road, Ta Kaloi. Dist. Gandhinagar-382845, Gujarat, INDIA CIN: l25209GJ1993PLC019532
Corporate Office: Rushtl House Near Neelkanth Green Bungalow, Off Sindhu Bhavan Road, Shilaj, Ahmedabad-380058, Gujarat, INDIA.
G +91-79-61400400 0 +91-79-61400401 e wwwvirlaminate.com
-
l. The above results have been reviewed by the Audit Committee and have been approved by the Board of Directors of the Company at their respective meetings held on 30[th ] July, 2020.
-
The finance co�t for Q4 FY 2020 1s m negative because of the year end adjustment made in the total finance cost after capitalising the exchange rate difference adjustment to be treated as a part of the borrowing cost to be capitalised in accordance with the lnd AS23 in respect of the foreign currency borrowing made for part financing the ongoing Andhra Pradesh Project which has yet not commenced commercial operations. Due to this reason the Q4 number being the diffe rence between the annual amount and the amount actually provided for in the 9 months period ended 31.12.2019 shows the negative figure.
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The outbreak of COVID-19 pandemic globally and in lndia is causing significant disturbance and slow down of economic activity, COVID 19 has caused interruption in production, supply chain disruption, unavailability of personnel, etc. during last week of March, 2020 and thereafter. The management of the Company has exercised due care in concluding significant accounting judgments and estimates in preparation of the financial results In assessing the recoverability of Trade receivables, the Company has considered subsequent recoveries, past trends, credit risk profiles of the customers and internal and external information available up to the date of issuance of these financial results. In assessing the recoverability of inventories, the Company has considered the latest selling prices, customer orders on hand and margins. Based on the above assessment, the Company is of the view that the carrying amow1ts of Trade receivables and inventories are expected to be realisable to the extent shown in the financial results The impact of COVID-19 may be diffe rent from the estimates as at the date of approval of these financial results and the Company will continue to closely monitor the development
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The figures of last quarter are the balancing figures between the audited figmes in respect of the full Financial Year 2019-20 and the published year-todate figures up lo the third quarter of the Current Financial Year 2019-20.
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Previous year's/period's figure have been regrouped/rearranged wherever necessary.
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Place: Ahmedabad Date: 30[th ] July, 2020
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RUiHIL DECOR LIMITED
Corporate Office: Regd. Office: Rushtl House Near Neelkanth Green Bungalow, Off Smdhu Bhavan Road. ShilaJ. Ahmedabad-380058, Gujarat, JNDIA. S. No. 125. Near l<alyanpura Patia. Vtllage ITLA, Dist Gandhmagar-382845. Guiarat. INDIA Gandhinagar-Mansa Road, Ta Kaloi, CIN L25209GJ1993PLC019532
G +91-79-61400400 0 +91-79-61400401 O wwwwlammate.com
RDL/21/2020-21 Date: 30.07.2020
To, National Stock Exchange of India Ltd. Exchange Plaza, Sandra - Kurla Complex, Sandra (E), Mumbai - 400 051 NSE EQUITY SYMBOL: RUSHIL
To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400 001 SSE SCRIPT CODE: 533470
ISIN: INE573K01017
Subject: Declaration pursuant to Regulation 33(3)(d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to Regulation 33(3)(d) of the SEBI (LODR) Regulations, 2015, as amended from time to time, we, Rushil Oecor Limited hereby declare that the Statutory Auditors of the Company M/s. Parikh & Majmudar, Chartered Accountants, (Firm Registration No. 107525W), have submitted their Report with unmodified opinion on Audited Financial Results of the Company for the financial year ended March 31, 2020, as approved by the Board in its Meeting held on today i.e. July 30, 2020.
Please take the same in your records and do the needful.
Thanking you.
Yours Faithfully,
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For, Rushil Decor Limited
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Ghanshyambhai A. Tha� Director DIN: 00208843
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