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Rushil Decor Limited Annual Report 2021

Jun 25, 2021

61709_rns_2021-06-25_8a0c5b9a-3a80-491a-af8f-8354ec3ca41e.pdf

Annual Report

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••• ••• •••

RUSHIL DECOR LIMITED

WE'LL MAKE IT

RDL/012/2021-22 Date: 24.06.2021

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

Ref: Regulation 30 and Regulation 33 read with Schedule Ill of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Subject: Outcome of Board Meeting

Dear Sir/Madam,

This is to inform that the Board of Directors of the Company has, at its meeting held on Thursday, June 24, 2021 (i.e. today), inter-alia, considered and approved the following items:

1) Consideration and Approval of the Financial Results:

In compliance with Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, considered and approved the Audited Financial Results for the quarter and year ended March 31, 2021 along with the audit report of the statutory auditor.

2) Recommendation of Final Dividend:

Recommended payment of final dividend of Rs. 0.50 (Fifty Paisa) per equity share of face value of Rs. 10/- each. This proposal is subject to approval of shareholders at the ensuing Annual General Meeting of the Company.

The date of next Annual General Meeting, the record date to determine the eligibility of shareholders for payment of dividend and the date of payment will be intimated separately.

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H . COR LTD .. RUSHIL HOUSE. NEAR NEELKANTH GREEN BUNGALOW. ,MEDABA INDHU BHAVAN ROAD, SHILAJ, AHMEDABAD-380058, GUJARAT, INDIA. ci, rcr

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•

. OFFICE: S. NO. 125. NEAR KALYANPURA PATIA. VILLAGE ITLA. GANDHINAGAR-MANSA ROAD. KALOL, DIST. GANDHINAGAR-382845, GUJARAT, INDIA. I CIN: L25209GJ1993PLC019532 PH. +91-79-61400400 I FAX: +91-79·61400401 I EMAIL: [email protected] I WWW.RUSHIL.COM

••• ••• •••

RUSHIL DEC0R LIMITED

WE'LL MAKE IT

The above matter has been duly approved by the Board of Directors at their meeting which commenced at 11: 15 hours and concluded at 15:45 hours.

We are enclosing herewith the Financial Results along with the declaration that Auditor's Report on the results is with unmodified opinion (as Annexure-1) for your information and record.

The same will be made available on the Company's website www.rushil.com.

Please take the same into your record and do the needful.

Thanking you,

Company Secretary

Encl.: a/a

••

RUSHIL DECOR LTD., RUSHIL HOUSE. NEAR NEELKANTH GREEN BUNGALOW, OFF SINDHU BHAVAN ROAD, SHILAJ, AHMEDABAD-380058, GUJARAT, INDIA.

REGD. OFFICE: S. NO. 125, NEAR KALYANPURA PATIA, VILLAGE ITLA, GANDHINAGAR-MANSA ROAD, TA. KALOL, 01ST. GANDHINAGAR-382845, GUJARAT, INDIA. I GIN: L25209GJ1993PLC019532

PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: [email protected] I WWW.RUSHIL.COM

••• ••• •••

RUSHIL DECOR LIMITED

WE'LL MAKE IT

RUSHIL DECOR LIMITED

Regd. Office: S. No.125, Near Kalyanpura Patia, Viii. ltla, Gandhinagar Mansa Road, Tai. Kaloi, Dist. Gandhinagar -382845, Gujarat, India (l' in lacs)

Statement of Audited Financial Results for the Quarter and Year ended 31st March,2021

Sr
No.		 Particulars Quarer Endod Quarer Endod Quarer Endod Quarer Endod YearEnded YearEnded
31.03.2021
(Audited)		 31.12.2020
(Unaudited)		 31.03.2020
(Audited)		 31.03.2021
(Audited)		 31.03.2020
(Audited)
1
2
3
4
5
6
7
8
9
10
11
12
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 exceptional items and tax (1-2)
Exceptional Items
Profit before t1x (3+4)
Tax expense:
a) Current tax
b) Deferred tax
Total
Net Profit (+)/Loss (-) for the period (5-6)
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 Comprehensive Income for the period (7+8)
Paid up equity share capital (Face value oH 10/- each)
Reserves (excluding Revaluation Reserve) as shown in the
Audited Balance Sheet
Earnings per share (Face value of_i_10/- each) (Not
Annualised)
(1) Basic
(2) Diluted		 9874.80
294.02

9253.20
73.48		 7622.49
170,67
33544.38
432.27

33559.80
353.58
10168.82
9326.68
7793.16
33976.65
33913.38
5519.54
41.03

-164.14
659.13
339.82
316.60
2731.56






4853.07
104.28
252.46
741.42
268.55
220.74
2332.14





4623.17
14.60
-578.07
799.50
-63.46
217.11
2579.84		 17422.43

174.32

565.94
2682.25

1241.90
973.24
9202.27






17309.44
135.36
25.59
2931.55
1204.43
868.94
9466.45
9443.54
8772.66
7592.69
32262.35
31941.76
725.28
554.02
200.47
1714.30
1971.62
~~-~~
725.28
152.18
706.20

~~-~~
200.47		 152.18
~~-~~

1866.48
1971.62
-309.92
516.15

179.98
-6.82

539.00
-200.91
0.95

493.69

402.30
-735.65
206.23
173.16
338.09
494.64
-333.3S
519.05
533.04
-137.62
1371.84
2304.97
-67.61
17.02

11.95
-3.01

47.81
-13.00
-31.76

7.99

43.96
-11.06
-50.59
8.94
34.81
-23.77
32.90
468.46
541.98
-102.81
1348.07
2337.87
1973.44
-
3.07
3.07


1731.03
-
3.48
3.48


1493.13
-
-0.81
-0.81
1973.44
24441.28
8.11
8.11
1493.13
21346.90
13.64
13.64

For, Rush1I Decor Limited

u

==> picture [84 x 21] intentionally omitted <==

Ghanshyambhai A. Thal..k:ir C.., / Chairman

/

DIN:00208843

==> picture [54 x 55] intentionally omitted <==

==> picture [53 x 53] intentionally omitted <==

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RUSHIL DECOR LTD., RUSHIL HOUSE. NEAR NEELKANTH GREEN BUNGALOW. OFF SINDHU BHAVAN ROAD, SHILAJ. AHMEDABAD-380058, GUJARAT, INDIA.

REGO. OFFICE: S. NO. 125, NEAR KALYANPURA PATIA, VILLAGE ITLA, GANDHINAGAR-MANSA ROAD, TA. KAL0L, DIST. GANDHINAGAR-382845, GUJARAT, INDIA. I GIN: L25209GJ1993PLC019532

PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: [email protected] I WWW.RUSHIL.C0M

I � f

••• ••• •••

RUSHIL DECOR LIMITED

WE'LL MAKE IT

Segmentwise Reporting for the Quarter and Year ended 31st March,2021

I� in lacs)
 I� in lacs)
 I� in lacs)
 I� in lacs)
Sr No Particulars
Quarer Ended
Year ended
31.03.2021 31.12.2020 31.03.2020
31.03.2021		 31.03.2020
(Audited) (Unaudited) (Audited)
(Audited)		 (Audited)
1
Segment Revenue (Gross)
a
Laminates&allied products
b
Particle Board
C
Medium Density Fiber Board
d
Polyvinayl Chloride Board
e
Medium Density Fiber Board - AP Unit
f
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
Medium Density Fiber Board - AP Unit
f
Unallocated
Total
Less:
i
Interest
ii
Other Unallocable expenditure
Add:
i
Unallocable Income
Total Profit Before Tax
3a
Segment Assets
a) Laminates & allied products
b) Particle Board
c) Medium Density Fiber Board
d) Polyvinayl Chloride Board
e) Medium Density Fiber Board - AP Unit
f Unallocated
Total Segment Assets
3b
Segment Liabilities
a) Laminates&allied products
b) Particle Board
c) Medium Density Fiber Board
d) Polyvinayl Chloride Board
e) Medium Density Fiber Board - AP Unit
f) Unallocated
TotalSeamen! Liabilities		 4891.69
-
4817.75
283.02
1.24
-		 4966.08
-
4176.37

189.44
-
-

3451.77
17560.22
-
-
4037.33
15591.17
160.77
766.44
-
1.24
-
-
16336.72
-

16706.96

711.96
-
-
9993.70
118.90
9331.89

78.69

7649.87
33919.07
27.38
374.69
33755.64

195.84
9874.80
9253.20
7622.49
33544.38
33559.80
457.29
-2.39
866.63
-19.73
-191.46
-
428.62

152.18

458.97
-31.45
-
-


-121.44
1736.47
-
149.79
13.47
1670.20
-28.75
-128.65
-
-191.46
316.04
-
1611.25

-

1830.11
-107.35
-
-
1110.34
339.82
45.24
-
1008.32

268.55

33.58
-


179.32
3236.35
-63.46
1241.90
42.31
127.97
-
-
3334.01

1204.43

157.96
-
725.28
706.20
200.47
1866.48
1971.62
16216.26
256.84
16374.06
2736.19
45259.45
-
16384.07

261.18

17361.54

2620.58

-
43886.68




16854.46
16216.26
733.97
256.84
19434.31
16374.06
2525.26
2736.19
-
45259.45
39032.34
-
16854.46

733.97

19434.31

2525.26
-
39032.34
80842.80
80514.05
78580.34
80842.80
78580.34
6604.71
43.21
5643.70
268.20
4001.56
-		 7368.17

43.47

5027.10

406.56

-
4296.64



7069.23
6604.71
131.09
43.21
4393.47
5643.70
298.11
268.20
-
4001.56
3312.57
-
7069.23

131.09

4393.47

298.11

-
3312.57
16561 .38
17141.94
15204.47
16561.38
15204.47

For, Rushil Decor Limited

==> picture [93 x 22] intentionally omitted <==

Ghanshyambhai A. Thakkar Chairman DIN:00208843

==> picture [129 x 55] intentionally omitted <==

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••
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RUSHIL 0ECOR LTD., RUSHIL HOUSE, NEAR NEELKANTH GREEN BUNGALOW . OFF SINDHU BHAVAN ROAD, SHILAJ, AHMEDABAD-380058, GUJARAT, INDIA.

REGO. OFFICE: S. NO. 125, NEAR KALYANPURA PATIA, VILLAGE ITLA, GANDHINAGAR-MANSA ROAD, TA. KALOL. 01ST. GANDHINAGAR-382845, GUJARAT, INDIA. I CIN: L25209GJ1993PLC019532

1-'H: +91-79-o l4UU4UU I FAX. +91-79-0 1400401 I EMAIL. INrOO nU31 Ill.COM I www.nuo1 Ill.COM

••• ••• •••

RUSHIL DECOR LIMITED

WE'LL MAKE IT

Standalone Statement of Cash Flow foryear ended 31st March,2021 ('in lacs) ('in lacs)
Particulars Year Ended
31.03.2021 31.03.2020
(Audited) (Audited)
(A)Cash Flow From Operating Activities
Profit before tax as per Standalone Statement of Profit & Loss
Adjustments for
Re-measurement gain/(loss) on defined benefit plans
Depreciation and amortization expense
Interest and Finance cost
(Profit)/Loss on disposal of Property, Plant and Equipment
Operating Profit Before Working Capital Changes
Adjustment for Change In:
(Increase)/ Decrease in Inventories
(Increase)/ Decre?se in Trade Receivables
(Increase)/ Decrease in Financial Assets
(Increase)/ Decrease in Other Assets
Increase/ (Decrease) in Trade Payables
Increase/ (Decrease) in Financial Liabilities
Increase/ (Decrease) in Other Liabilities
Increase/ (Decrease) in Short Term Provisions
Direct Taxes Paid (Net of Refunds)
Net Cash Generated From Operations
(BI Cashflowfrom Investing activities
Purchase of Property, Plant and Equipment (including WIP & Pre-operative
Adjustment for Revaluation Reserve
Sale of Property, Plant and Equipment
Purchase of Shares
Loans (Given)
Changes in Non Current Assets
Net Cash Generated From Investing Activities
(C) Cash Flow From Financing Activities
Issue of share capital
Securities premium
Increase/ (Decrease) in Long term borrowings
Increase/ (Decrease) in Short term borrowings
Interest and Finance cost
Dividend Paid (Including Tax On Dividend)
Net CashGenerated From Financing Accivici�s
Net Increase In Cash&Cash Equivalents
Cash & Cash Equivalents At
Opening
Closing		 1866.48
-31.76
973.24
1241.90
-150.75
1971.62

43.96

868.94

1204.43

-5.53
2032.63
**2111.80 **
3899.11
4083.42
131.22
35S.87
-488.76
704.67
716.91
2139.12
-5.11
S63.17		 237.90
-6S4.34
6.26
-1284.37
2261.11

195.76

149.15
-120.26
4117.09
791.21
8016.20
-307.30
4874.63
-161.61
7708.90
-6273.93
-89.75
200.08
230S.2S
4713.02
-24239.87


7.83
316.18

4091.37
-3858.35
480.31
1,917.68
-4363.56
-466.15
-1241.90
-86.53

-19816.99
-
-

15865.21

532.79

-1204.43

-90.00
-3760.15
90.40
65.50
155.90
15103.57

-0.40

65.90

GS.SO

For, Rushil Decor Limited

Ghanshya�� Chairman DIN:00208843

==> picture [129 x 54] intentionally omitted <==

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••
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RUSHIL OECOR LTD., RUSHIL HOUSE, NEAR NEELKANTH GREEN BUNGALOW, OFF SINDHU BHAVAN ROAD, SHILAJ, AHMEDABAD-380058, GUJARAT, INDIA.

REGD. OFFICE: S. NO. 125, NEAR KALYANPURA PATIA, VILLAGE ITLA, GANDHINAGAR-MANSA ROAD, TA. KALOL, 01ST. GANDHINAGAR-382845, GUJARAT, INDIA. I GIN: L25209GJ1993PLC019532

PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: [email protected] I WWW.RUSHIL.COM

••• ••• •••

RUSHIL DECOR LIMITED

WE'LL MAKE IT

Statement of Assets and Liabilities

Statement of Assets and Liabilities
(tin lacs)
S.No.
Particulars		 As on 31.3.2021 As on 31.3.2020
(Audited) (Audited)
ASSETS
1 Non-current assets
a)
Property, Plant and Equipment
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)
Other non-current assets
Sub-Total Non-current assets
2)
Current assets
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
TOTAL ASSETS
EQUITY & LIABILITIES
EQUITY:
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 Equity and Liabilities		 58718.35
103.92
2.65
1.25
237.23
8.26
2520.11
19720.42

33846.85
6.29

1.25

230.81

10.39

5452.23
61591.77
59268.24
8427.23
5753.65
155.90
1007.43
3906.82
8558.46

6115.94

65.50
516.54

4055.67
19251.03 19312.11
80842.80
1973.44
24441.28
29521.11
959.26
238.34
2829.74
800.85
78580.35

1493.13
21346.90
33884.66

866.67
213.20
2348.95

793.88
34349.30
38107.36
5365.45
10256.07
3094.50
284.18
1078.58
5831.59

9578.53
1008.61
321.41

515.41
377.41
20078.78
17632.96
80842.80
78580.35

For, Rushil Decor Limited

==> picture [97 x 19] intentionally omitted <==

Ghanshyambhai A. Thakkar Chairman . J DIN:00208843 ,,Y

••

RUSHIL OECOR LTD . RUSHIL HOUSE. NEAR NEELKANTH GREEN BUNGALOW . OFF SINDHU BHAVAN ROAD, SHILAJ, AHMEDABAD-380058, GUJARAT, INDIA.

REGO. OFFICE: S. NO. 125, NEAR KALYANPURA PATIA, VILLAGE ITLA, GANDHINAGAR-MANSA ROAD, TA. KALOL, DIST. GANDHINAGAR-382845, GUJARAT, INDIA. I CIN: L25209GJ1993PLC019532

PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: [email protected] I WWW.RUSHIL.COM

••• ••• •••

RUSHIL DECOR LIMITED

WE'LL MAKE IT

Notes:

  1. 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 24[th ] June, 2021.

  2. Right Issue: On receipt of right issue call money, 4440144 partly paid up rights equity shares converted into fully paid equity share in the fund raising committee meeting held on 12.03.2021 and same got listed and traded on the stock exchanges. Further 253760 partly paid up rights equity shares converted into fully paid up equity shares in the fund raising committee meeting held on 01.04.2021.

  3. The figures of last quarter are the balancing figures between the audited figures in respect of the full Financial Year 2020-21 and the published year-to­ date figures up to the third quarter of the Current Financial Year 2020-21.

  4. Previous year's/period's figure have been regrouped/rearranged wherever necessary.

==> picture [52 x 54] intentionally omitted <==

For, Rushil Decor Limited v[��] '"BAD ),_ --------------Ghans yambhai A. Thakkar Chairman DIN:00208843

Place: Ahmedabad Date: 24[th ] June, 2021

RUSHIL DECOR LTD., RUSHIL HOUSE, NEAR NEELKANTH GREEN BUNGALOW, OFF SINDHU BHAVAN ROAD, SHILAJ, AHMEDABAD-380058, GUJARAT, INDIA. REGO. OFFICE: S. NO. 125. NEAR KALYANPURA PATIA, VILLAGE ITLA, GANDHINAGAR-MANSA ROAD, TA. KAL0L, DIST. GANDHINAGAR-382845, GUJARAT, INDIA. I CIN: L25209GJ1993PLC019532

==> picture [71 x 53] intentionally omitted <==

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PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: [email protected] I WWW.AUSHIL.C0M

PARIKH & MAJMUDAR I

CHARTERED ACCOUNTANTS

CA. (DR). HITEN PARIKH M.Com., U.B., FCA., PH.D. CA. SANJAY MAJMUDAR B.Com., U.B., FCA

==> picture [72 x 57] intentionally omitted <==

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, 201 S(as amended)

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, 2021 (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 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

  • /��

  • : Q;

  • 2021. •

  • 303, "B" Wing, GCP Business Center, Opp Memnagar Fire Station, Nr. Vijay Cross Roads, Navrangl-"' ��x,,. Ahmedabad - 380 009. Phones :- +91 79 26401701/02/03 Fax: - + 91 79 40092628 Email : [email protected]

  • information of the Company for the three months and year ended March: India of the net profit and total comprehensive income and other financia.; i· · · ·:,.,

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 there�nder, 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.

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 and application of appropriate 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

==> picture [454 x 113] intentionally omitted <==

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:

  • Identify and assess the risks of material misstatement of the standalone Ind AS financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is 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

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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.

  • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

  • 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.

  • 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 we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence; and t �t"Pii�

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Other Matter

The standalone annual financial results include the results for the quarter ended March 31, 2021 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.

For Parikh & Majmudar Chartered Accountants

. Parikh]

Place: Ahmedabad Date:24-06-2021

••• ••• •••

RUSHIL DECOR LIMITED

WE'LL MAKE IT

RDL/013/2021-22 Annexure-1 Date: 24.06.2021

To, National Stock Exchange of India Ltd. Exchange Plaza, Bandra - 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

Sub: Declaration pursuant to Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir/Madam,

Pursuant to Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, we hereby declare that the Statutory Auditors of Rushil Decor Limited, 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, 2021, as approved by the Board in its Meeting held today i.e. June 24, 2021.

Please take the same into your record and do the needful.

Thanking you,

Yours faithfully, For Rushil or Limited r kkar anaging Dire tor DIN: 01059666

••

RUSHIL DECOR LTD., RUSHIL HOUSE, NEAR NEELKANTH GREEN BUNGALOW, OFF SINDHU BHAVAN ROAD, SHILAJ, AHMEDABAD-380058, GUJARAT, INDIA.

REGO. OFFICE: S. NO. 125, NEAR KALYANPURA PATIA, VILLAGE ITLA, GANDHINAGAR-MANSA ROAD, TA. KALOL, 01ST. GANDHINAGAR-382845, GUJARAT, INDIA. I CIN: L25209GJ1993PLC019532

PH: +91-79-61400400 I FAX: +91-79·61400401 I EMAIL: [email protected] I WWW.RUSHIL.COM

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