Interior products maker Rushil Decor will set up a new manufacturing facility for laminate sheet manufacturing in Gujarat, with an aggregate installed capacity of 12 lakh sheets per annum.
The company has planned an approximate outlay of ₹60 crore for the project. It expects to cater to the Indian and overseas markets that has demand for bigger-sized (jumbo-size) laminates.
Rushil Decor manufactures decorative laminates with a wide range of designs, colours and finishes in three of its manufacturing plants located in Gujarat with a combined laminate capacity of 34.92 lakh sheets per annum. Currently, the company has five manufacturing facilities in India out of which three are in Gujarat and one each in Karnataka and Andhra Pradesh.
“The industry is seeing a shift in market share from the unorganised to the organised sector. We seek to capture a greater market share in this environment and it is important to invest in the brand to strengthen the top-of-the-mind recallm consequently we shall continue to invest in our brands,” said Rushil Thakkar, Director, Rushil Decor Ltd.
The company markets its products under the flagship brand VIR, and is engaged in manufacturing laminated sheets, Medium Density Fiber (MDF) boards and PVC foam boards. With the proposed capex, Rushil Decor looks to boost indigenous production capacity and operational efficiency, expanding the range of value-added solutions.
In 2021, Rushil Decor had set up a manufacturing unit at Vishakhapatnam, Andhra Pradesh for manufacturing thin and thick MDF boards. The company manufactures MDF products in different sizes and thicknesses, which enables them to enter into a niche segment of the market.
Rushil Decor shares ended at ₹398.65 on Wednesday, down 1.98 per cent from its previous close on BSE.