Rushil Decor Limited — Capital/Financing Update 2025

Jan 28, 2025

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RDL/118/2024-25 Date: 28.01.2025

RUSHIL

DECOR LIMITED WE'LL MAKE IT

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,

Ref.: Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Sub.: Statement of Deviation or Variation in the use of proceeds of Preferential Issue of Rushil Decor Limited ("the Company")

Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby confirm that there is no deviation or variation in use of the proceeds from the objects stated in the Private Placement Offer Letter for Preferential Issue. A statement of deviation or variation, duly reviewed by the Audit Committee, is attached herewith.

The Company has received total Rs. 60.93 crores through the preferential issue upto December 31, 2024 and may receive the balance amount within the time limit as mentioned in the SEBI (ICDR) Regulations. Out of Rs. 60.93 crores, Company has utilised Rs. 60.91 crores upto the Quarter ended December 31, 2024 for the objects stated in the Private Placement Offer Letter.

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

Thanking You,

Yours Faithfully

For Rushil Decor Limited

MODI Digitally signed by MODI HASMUKH HASMUKH KANUBHAI Date: 2025.01.28 KANUBHAI 14:54:03 +05'30'

Hasmukh K. Modi Company Secretary

Encl.: a/a

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RUSHIL DECOR LTD. RUSHIL HOUSE, NEAR NEELKANT H 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, DIST. GANDHINAGAR-382845, GUJARAT, INDIA. I GIN: L25209GJ1993PLC019532

PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: INFO@RUSHIL.COM I WWW.RUSHIL.COM

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RUSHIL

DECOR LIMITED

Statement of DeviationNariation in Utilization of Fund Raised

Name of Listed Entity	RushilDecor Limited ~~- --~~	RushilDecor Limited ~~- --~~
Mode of Fund Raisina	Preferential Issue of Converible Warrants December 23, 2023 (Date of Allotment of warrants)
Date of Raising Funds
Amount Raised Size is Rs. 122.66 Crores. But, Company has received Rs. 60.93 Crores uoto 31.12.2024. Repor filed for the Quarer Ended December 31, 2024 Monitoring Agency Applicable
Monitoring Agency Name, if aDDlicable Is there any DeviationNariatlon in use of funds raised If yes, whether the same is puruant to change In terms of a contract or objects, which was aooroved bv the shareholder If Yes, Date of shareholder Aooroval Explanation for the Deviation / Variation Comments of the Audit Committee after review	CARE Ratings Limited No Not Applicable Not Applicable Not Aoolicable No comments
Comments of the auditor, if any	No Comments

E IT

Objects for which funds have been raised and where there has been a deviation, in the following table:

Objects for which funds have been raised and where there has been a deviation, in the following table:	Objects for which funds have been raised and where there has been a deviation, in the following table:	Objects for which funds have been raised and where there has been a deviation, in the following table:	Objects for which funds have been raised and where there has been a deviation, in the following table:	on, in the
Original Object Modifed Object, if any Decorative N.A. laminates including bigger size (Jumbo size) laminates manufacturing Project at Mansa Working Capital N.A. Margin ReQuirement MDF Plant& N.A. Machiner as well as Civil Work fr existing MDF Manufacturing Plants Original Modifed Funds Amount of Remarks, Allocation Allocation, Utilized DeviationNariation i any (Rs. In if any (Rs. In for the Quarer crores) crores) according to the applicable object 90.00 N.A. 52.20 N.A. N.A. 10.00 N.A. 0.00 N.A. N.A. 10.00 N.A. 5.37 N.A. N.A.				Remarks, i any N.A.
	N.A. N.A. 10.00 10.00	N.A. 0.00 N.A. N.A. N.A. 5.37 N.A. N.A.
General Corporate Purpose	~~N.A.~~ 12.66	N.A.	3.34 N.A. N.A.

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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 CIN: L25209GJ1993PLC019532

PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: INFO@RUSHIL.COM I WWW.RUSHIL.COM

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RUSHIL DECOR LIMITED

Deviation or Variation could mean:

WE'L L MAKE IT

• a) Deviation in the objects or purposes for which the funds have been raised or

• b) Deviation in the amount of funds actually utilized as against what was originally disclosed or

• c) Change in terms of a contract referred to in the fund raising document i.e. Prospectus, letter of offer, etc.

Yours Faithfully,

For, Rushil Decor Limited

MODI Digitally signed by MODI HASMUKH HASMUKH KANUBHAI Date: 2025.01.28 KANUBHAI 14:54:26 +05'30'

Hasmukh K. Modi Company Secretary

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

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PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: INFO@RUSHIL.COM I WWW.RUSHIL.COM

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