Rushil Decor surges on expanding into North American market to strengthen global presence
Rushil Decor is currently trading at Rs. 349.65, up by 2.95 points or 0.85% from its previous closing of Rs. 346.70 on the BSE.
The scrip opened at Rs. 349.00 and has touched a high and low of Rs. 352.00 and Rs. 334.00 respectively. So far 7006 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 406.70 on 24-Nov-2023 and a 52 week low of Rs. 261.45 on 14-Aug-2023.
Last one week high and low of the scrip stood at Rs. 355.00 and Rs. 333.65 respectively. The current market cap of the company is Rs. 934.19 crore.
The promoters holding in the company stood at 55.34%, while Institutions and Non-Institutions held 2.15% and 42.51% respectively.
Rushil Decor is expanding its presence into the North American market, marking a significant milestone in its global growth strategy. Rushil Decor already reaching over 50 countries, aims to capitalize on one of the world's largest markets for Laminates and MDF. This strategic move coincides with the company’s participation at the ‘International Woodworking Fair’ (IWF) in Atlanta from August 6th to 9th, 2024. IWF Atlanta is renowned as North America’s premier trade show and conference for woodworking technology and design, attracting industry leaders and professionals from around the globe.
Looking ahead, Rushil Decor aims to achieve annual revenues of Rs 2500 crore by FY 2029, supported by state-of-the-art manufacturing facilities and a robust distribution network. This expansion into North America represents a pivotal step towards realizing this vision, positioning the company as a key player in the global Laminate and MDF markets.
Overall, Rushil Decor's strategic initiatives underscore its proactive approach to growth and market expansion, driven by innovation, sustainability and a commitment to meet evolving customer demands on a global scale.
Rushil Decor is a leader in the Decorative High Pressure Laminates market in India.