Rushil Decor Limited — Capital/Financing Update 2024

Nov 7, 2024

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RUSHIL DECOR LIMITED WE'LL MAKE IT

RDU106/2024-25 Date: 07.11.2024

To, National Stock Exchange of India Ltd. Exchange Plaza, Bandra - Kurla Complex, Bandra (E), Mumbai - 400 051 NSE EQUITY SYMBOL: RUSHIL

To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 SCRIPT CODE: 533470

ISIN: INE573K01025

Dear Sir/ Madam,

Sub.: Press release

We are sending herewith copy of the Press Release titled "Rushil Decor Ltd. Makes Strategic Leap with a New Wholly Owned Subsidiary in Singapore, Enhancing Its Presence in Southeast Asia" Which will be disseminated shortly.

The Press release is self-explanatory.

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

Thanking you,

Yours faithfully,

For Rushil Decor Limited MODI Digitally signed by MODI HASMUKH HASMUKH KANUBHAI Date: 2024.11.07 KANUBHAI 12:23:09 +05'30'

Hasmukh K. Modi Company Secretary

Encl.: a/a

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RUSHIL DECOR LTD., RUSHIL HOUSE, NEAR NEELKAN TH 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: INF0@RUSHIL.C0M I WWW.RUSHIL.C0M

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Press Release

Rushil Decor Ltd. Makes Strategic Leap with a New Wholly Owned Subsidiary in Singapore, Enhancing Its Presence in Southeast Asia

Ahmedabad, 7[th] November 2024: Rushil Decor Limited (BSE: 533470, NSE: RUSHIL), is pleased to announce the incorporation of a wholly owned subsidiary in Singapore in the name of “Rushil Decor Pte. Ltd.” This move aims to strengthen company’s presence in the global market and expand its reach into Southeast Asia Region.

Rushil Decor Pte. Ltd. will focus on the import, export and distribution of a wide range products, including laminated sheets, MDF boards, HDF boards and other allied products. This new entity will cater to the increasing demand for high-quality and sustainable wood panel products and enhance Rushil Decor's service capabilities in Singapore and the surrounding markets.

The establishment of this subsidiary reflects Rushil Decor’s proactive steps to capture growth opportunities in the dynamic Southeast Asian market. With Singapore serving as a central hub, the subsidiary is set to support streamlined distribution, enhance customer service capabilities and strengthen the Company’s brand presence across the region. This move will allow the company to optimize its supply chain, providing highquality laminates to clients in a timely and cost-effective manner. The new subsidiary is expected to further increase revenue and profitability by enabling Rushil Decor to reach untapped markets and develop strong local partnerships.

Rushil Decor Pte. Ltd. aims to serve customers primarily in Thailand, Laos, Philippines, Cambodia, Vietnam, Malaysia, Indonesia, Myanmar, Brunei and Papua New Guinea. The subsidiary's main supplier will be Rushil Decor Ltd. from India.

Mr. Rushil K. Thakkar is one of the Directors of the subsidiary. This subsidiary will strengthen its commitment to sustainable and innovative solutions for clients across Southeast Asia. This expansion will not only broaden market access but also lays the foundation for exploring further opportunities in this region.

Commenting on the New Subsidiary, Managing Director Rushil Thakkar said:

“The establishment of Rushil Decor Pte. Ltd. marks a significant milestone in our company’s growth journey. The new subsidiary is established to serve the growing demand for high-quality laminates in the Southeast Asia region. This expansion aligns with Rushil Decor's vision to build a stronger international footprint. We are confident that this move will open new avenues for growth, help us achieve our long-term business objectives, and deliver enhanced value to our stakeholders.”

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About Rushil Decor

Founded in 1993, Rushil Decor Limited is a globally leading company in modern interior infrastructure and eco-friendly composite wood panels. The company excels in setting industry benchmarks through innovative designs and advanced technology. Operating six cutting-edge manufacturing plants, Rushil Decor has an annual capacity of 3,30,000 CBM MDF and 3.49 million laminates, serving customers in over 54 countries. The company's product range includes VIR Laminates, VIR MDF boards, VIR MAXPRO (HDFWR) boards, VIR Pre-laminated Decorative MDF/HDFWR boards, VIR Modala Ply, VIR PVC and VIR WPC boards/doors.

Rushil Decor's commitment to quality, design excellence and customer-centricity distinguishes it in the market. Driven automated plants, world class German technologies and global standards, Rushil Decor relentlessly creates smarter spaces. The company ensures optimal supply chain efficiencies and resource utilization. Strategic local plantations further enhance cost advantages in raw material sourcing, allowing Rushil Decor to meet global market demand effectively and sustainably.

For more details, please visit: www.rushil.com or contact to:

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Rajiv Pandya / Abhishek Dakoria Mr. Parin Shah Churchgate Partners AGM – Brand Management +91 22 6169 5988 Rushil Decor Limited rushil@churchgatepartners.com parin.shah@rushil.com

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forwardlooking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.