Responsive Industries Ltd

₹ 316 -1.34%

14 Jun - close price

responsiveindustries.com BSE: 505509 NSE: RESPONIND

About

Responsive Industries Limited, incorporated in 1982 is a leading India-based manufacturer of polyvinyl chloride (PVC)-based products. ^[1]

Key Points

Products
The Company’s main products include Vinyl Flooring, Synthetic Leather, and Luxury Vinyl Tile (LVT), having 30+ product categories within. It caters to 25 end-user industries ranging from hospitals, health care, transportation, real estate – offices, and residences.{#https://www.bseindia.com/bseplus/AnnualReport/505509/77145505509.pdf#page=21 #} {#https://www.responsiveindustries.com/ #}
It has a presence in the shipping ropes business through its subsidiary Axiom Cordages Limited. ^[1]

Website BSE NSE

Market Cap ₹ 8,421 Cr.
Current Price ₹ 316
High / Low ₹ 365 / 153
Stock P/E 266
Book Value ₹ 34.6
Dividend Yield 0.03 %
ROCE 5.82 %
ROE 3.93 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Company's working capital requirements have reduced from 160 days to 120 days

Cons

Stock is trading at 9.12 times its book value
Promoter holding has decreased over last quarter: -0.36%
Company has a low return on equity of 2.63% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Plastic products Industry: Plastics Products

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	108.09	66.37	107.28	151.23	165.64	153.58	128.52	145.34	170.11	166.78	170.01	138.38	152.30
	94.39	50.40	87.31	128.03	151.00	138.78	110.59	126.92	154.64	147.27	145.13	111.63	133.35
Operating Profit	13.70	15.97	19.97	23.20	14.64	14.80	17.93	18.42	15.47	19.51	24.88	26.75	18.95
OPM %	12.67%	24.06%	18.61%	15.34%	8.84%	9.64%	13.95%	12.67%	9.09%	11.70%	14.63%	19.33%	12.44%
	2.59	4.52	2.77	1.81	9.13	4.89	5.43	3.25	2.60	3.05	3.89	1.46	9.01
Interest	3.23	7.25	5.26	4.96	9.13	9.41	10.65	6.80	3.60	6.23	7.29	4.72	4.26
Depreciation	9.09	10.80	10.93	10.71	11.42	8.13	8.31	10.64	10.78	8.59	11.61	11.72	11.23
Profit before tax	3.97	2.44	6.55	9.34	3.22	2.15	4.40	4.23	3.69	7.74	9.87	11.77	12.47
Tax %	80.60%	28.28%	25.95%	26.12%	43.79%	16.74%	22.95%	26.71%	24.66%	23.64%	25.23%	20.48%	31.92%
	0.77	1.75	4.85	6.90	1.80	1.79	3.39	3.09	2.79	5.92	7.38	9.36	8.50
EPS in Rs	0.03	0.07	0.18	0.26	0.07	0.07	0.13	0.12	0.10	0.22	0.28	0.35	0.32
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	1,519	1,842	1,514	1,835	1,824	1,083	629	434	366	491	538	655
	1,350	1,659	1,338	1,665	1,689	990	522	346	314	417	473	563
Operating Profit	169	183	176	170	135	93	107	88	52	74	65	92
OPM %	11%	10%	12%	9%	7%	9%	17%	20%	14%	15%	12%	14%
	3	15	21	12	17	15	14	17	7	17	17	17
Interest	28	29	26	26	23	17	13	21	4	25	35	20
Depreciation	92	106	123	128	99	66	62	57	43	44	32	46
Profit before tax	52	62	47	28	30	26	47	27	12	22	14	42
Tax %	9%	19%	30%	37%	35%	50%	39%	8%	45%	29%	24%	26%
	47	51	33	18	19	13	28	25	7	15	11	32
EPS in Rs	1.77	1.90	1.24	0.67	0.73	0.49	1.06	0.93	0.24	0.57	0.41	1.19
Dividend Payout %	6%	5%	8%	15%	14%	20%	11%	11%	41%	17%	24%	8%

Compounded Sales Growth
10 Years:	-10%
5 Years:	1%
3 Years:	21%
TTM:	22%

Compounded Profit Growth
10 Years:	-4%
5 Years:	2%
3 Years:	72%
TTM:	184%

Stock Price CAGR
10 Years:	13%
5 Years:	28%
3 Years:	29%
1 Year:	78%

Return on Equity
10 Years:	3%
5 Years:	3%
3 Years:	3%
Last Year:	4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	27	27	27	27	27	27	27	27	27	27	27	27
Reserves	406	455	518	556	578	588	613	633	638	650	659	897
	575	719	550	419	382	223	109	167	316	358	349	195
	88	95	70	224	84	133	48	58	51	111	68	61
Total Liabilities	1,095	1,295	1,165	1,226	1,070	970	797	885	1,033	1,145	1,102	1,180
	741	828	733	632	549	493	440	385	342	307	279	479
CWIP	0	0	0	7	0	0	0	0	0	0	0	0
Investments	73	35	33	39	40	59	210	300	460	488	488	445
	281	432	398	547	480	418	146	200	231	351	334	256
Total Assets	1,095	1,295	1,165	1,226	1,070	970	797	885	1,033	1,145	1,102	1,180

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	101	88	172	164	78	140	285	60	15	18	49	195
	-94	-119	-26	24	-31	19	-159	-91	-158	-34	-2	-146
	-5	85	-181	-160	-74	-176	-129	33	144	13	-46	-57
Net Cash Flow	1	54	-36	28	-27	-16	-2	2	0	-2	-0	-8

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	32	42	43	84	51	91	33	100	84	116	99	78
Inventory Days	17	10	14	8	25	43	56	67	124	174	162	75
Days Payable	8	6	6	44	6	24	3	52	43	88	31	21
Cash Conversion Cycle	41	46	51	48	70	111	86	115	165	201	230	132
Working Capital Days	41	44	49	30	41	74	60	116	146	179	182	120
ROCE %	8%	8%	6%	5%	5%	5%	7%	6%	2%	4%	5%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	49.58%	49.58%	49.58%	49.58%	49.58%	58.94%	58.94%	58.94%	58.94%	58.94%	58.94%	58.58%
	5.34%	5.37%	5.34%	5.36%	5.36%	35.69%	35.60%	35.67%	35.67%	35.45%	35.12%	35.08%
	3.60%	3.59%	3.59%	3.59%	3.56%	3.56%	3.56%	3.56%	3.56%	3.56%	3.57%	3.59%
	41.48%	41.47%	41.49%	41.47%	41.50%	1.82%	1.89%	1.82%	1.83%	2.06%	2.36%	2.76%
No. of Shareholders	6,124	6,681	7,008	5,931	5,478	6,559	7,863	7,009	6,473	10,237	12,781	14,277

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	59.51%	59.31%	50.13%	50.13%	49.58%	49.58%	58.94%	58.58%
	4.22%	4.22%	4.24%	4.22%	5.30%	5.36%	35.67%	35.08%
	3.98%	3.98%	3.95%	3.93%	3.67%	3.59%	3.56%	3.59%
	32.28%	32.49%	41.68%	41.71%	41.45%	41.47%	1.82%	2.76%
No. of Shareholders	1,874	2,981	2,214	2,814	4,154	5,931	7,009	14,277

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Jun 2024
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May 2019

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