Responsive Industries Ltd
NSE:RESPONIND
Responsive Industries Ltd
Responsive Industries Ltd. engages in the manufacture and sale of polyvinyl chloride based products. The company is headquartered in Boisar, Maharashtra. The company went IPO on 2010-10-28. The firm is primarily engaged in the business of manufacturing and selling of articles made out of PVC/ polymers. The company produces various types, grades and forms of PVC flooring, PVC leather cloth and PVC sheeting. Its main product verticals are vinyl flooring, synthetic leather, luxury vinyl tile (LVT) and shipping ropes. The company is engaged in manufacturing across flooring and synthetic leather-related PVC products. The company produces approximately 24 different types of flooring catering to various sections of the society, ranging from hospitals, health care, transportation, real estate, offices and residences. The firm's products are marketed both in India and outside. The firm exports its products to over 70 countries across the world. Its subsidiaries include Axiom Cordages Limited and Responsive Industries PTE Limited, among others.
Responsive Industries Ltd. engages in the manufacture and sale of polyvinyl chloride based products. The company is headquartered in Boisar, Maharashtra. The company went IPO on 2010-10-28. The firm is primarily engaged in the business of manufacturing and selling of articles made out of PVC/ polymers. The company produces various types, grades and forms of PVC flooring, PVC leather cloth and PVC sheeting. Its main product verticals are vinyl flooring, synthetic leather, luxury vinyl tile (LVT) and shipping ropes. The company is engaged in manufacturing across flooring and synthetic leather-related PVC products. The company produces approximately 24 different types of flooring catering to various sections of the society, ranging from hospitals, health care, transportation, real estate, offices and residences. The firm's products are marketed both in India and outside. The firm exports its products to over 70 countries across the world. Its subsidiaries include Axiom Cordages Limited and Responsive Industries PTE Limited, among others.
Strong Growth: Responsive Industries delivered a sharp increase in revenue and profit for FY '24, with net profit jumping to INR 161 crores from INR 24.39 crores the prior year.
Margin Expansion: EBITDA margin more than doubled to 24.03% in FY '24 from 12.94% the previous year, driven by a focus on higher-value products and improved customer mix.
Exports Lead Sales: The business remains export-driven with a 60% export and 40% domestic sales mix, a ratio expected to continue.
Capacity & CapEx: Utilization is around 55-60%, and current capacity is sufficient to reach INR 2,500 crores in revenue over the next three years; no major CapEx planned soon.
Debt & Working Capital: The company has zero long-term debt, with only working capital borrowings in place; management expects working capital days to come down next year.
Guidance Maintained: Management expects to sustain current net margins and maintain growth trajectory in both top and bottom lines.
Receivables High, Improving: Receivable days are currently high due to growth and institutional customer mix but expected to normalize in coming quarters.
