Rushil Decor profit crashes 87% on a single €10.34 cr forex hit
A foreign-exchange loss on Euro-denominated loans erased almost all of Rushil Decor's full-year profit. The company says production is back on track at Mansa.
— 2 earlier stories on Rushil Decor Ltd. →What's new
- FY26 consolidated net profit fell to ₹6.38 crore from ₹47.88 crore in FY25.
- A ₹10.34 crore forex loss on Euro-denominated loans drove the collapse.
- Mansa plant tech upgrades are complete and commercial production has resumed.
Why this matters
The business isn't failing operationally. It's being undone by a single, unhedged currency bet. The ₹10.34 crore loss turned what should have been a steady year into an 87% profit decline.
What we're watching
- Whether management hedges its Euro loan exposure in future quarters.
- The revenue ramp from the newly upgraded Mansa facility.
- Q1 FY27 results as the operational upgrades feed into output.
The full read
Rushil Decor's FY26 results show how one unhedged bet can destroy a year. The nano-cap laminate maker saw consolidated net profit fall to ₹6.38 crore from ₹47.88 crore, an 87% decline. The culprit wasn't weak sales. It was a single ₹10.34 crore foreign-exchange loss on Euro-denominated loans. Revenue slipped slightly to ₹8,622.4 million for the year, and Q4 held at ₹230.9 crore with some sequential margin recovery. The company has completed a tech upgrade at its Mansa plant and restarted production, a positive for the operational outlook. But until management addresses the currency exposure on its debt, the same risk repeats. The board recommended a dividend of just ₹0.05 per share, a token that reflects how little profit was left.
Questions answered
- What caused Rushil Decor's profit to drop so sharply?
- The drop was almost entirely caused by a ₹10.34 crore foreign-exchange loss. This loss came from revaluing Euro-denominated loans, not from weak underlying operations or sales.
- How did the top line perform for the year?
- Full-year revenue slipped slightly to ₹8,622.4 million. Q4 revenue was ₹230.9 crore, which was flat year-on-year with some sequential margin improvement.
- Is the company's manufacturing back to normal?
- Yes. Rushil confirmed that technological upgrades at its Mansa plant are complete and commercial production has resumed, which should support revenue in coming quarters.
- What dividend did the board declare?
- The board recommended a final dividend of ₹0.05 per equity share. It's a minimal payout, reflecting how little profit was left to distribute.
Story so far
All notes on RUSHIL →- 29 May 2026 · 3:44 PM IST Rushil Decor profit crashes 87% on a single €10.34 cr forex hit
- 1d ago Rushil Decor's earnings press release is commentary, not news
- 1d ago Rushil Decor's investor deck adds nothing new to its already-disclosed Q4 results