Responsive Industries Ltd

₹ 356 1.08%

29 Sep 11:28 a.m.

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 ₹ 9,515 Cr.
Current Price ₹ 356
High / Low ₹ 364 / 101
Stock P/E 153
Book Value ₹ 37.6
Dividend Yield 0.03 %
ROCE 4.51 %
ROE 2.46 %
Face Value ₹ 1.00

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Pros

Company has been maintaining a healthy dividend payout of 1,256%

Cons

Stock is trading at 9.51 times its book value
Company has a low return on equity of 3.06% over last 3 years.
Debtor days have increased from 98.9 to 127 days.

* 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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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023
	154	192	203	207	176	293	312	325	227	245	264	237	263
	134	160	157	178	153	261	280	300	210	231	228	195	215
Operating Profit	20	32	46	30	23	32	32	25	18	14	36	42	48
OPM %	13%	17%	23%	14%	13%	11%	10%	8%	8%	6%	14%	18%	18%
	3	1	-50	3	5	6	2	9	5	5	3	3	2
Interest	3	-2	0	2	5	3	3	7	8	8	7	6	5
Depreciation	16	18	16	15	25	25	28	27	24	16	15	15	14
Profit before tax	4	17	-21	15	-2	10	3	-0	-9	-5	18	24	32
Tax %	-93%	4%	50%	23%	-10%	34%	108%	-764%	-8%	-29%	6%	4%	6%
	7	16	-10	12	-3	6	-0	-3	-9	-6	17	23	30
EPS in Rs	0.30	0.62	0.15	0.44	-0.10	0.23	-0.01	-0.12	-0.32	-0.22	0.63	0.81	1.11
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	1,684	2,186	2,515	2,106	2,247	2,006	1,247	775	533	756	1,103	974	1,009
	1,469	1,936	2,257	1,859	2,041	1,846	1,135	659	436	628	994	863	869
Operating Profit	215	251	258	248	206	160	112	116	98	128	110	110	141
OPM %	13%	11%	10%	12%	9%	8%	9%	15%	18%	17%	10%	11%	14%
	6	10	27	32	24	18	13	24	28	-44	24	16	14
Interest	12	31	31	26	26	23	17	13	21	4	18	28	25
Depreciation	79	121	145	166	173	132	87	82	78	64	105	69	60
Profit before tax	130	108	108	87	31	22	21	45	26	15	10	28	69
Tax %	14%	20%	24%	29%	39%	66%	56%	35%	8%	-64%	98%	14%
	111	87	82	62	19	8	9	29	24	24	0	24	64
EPS in Rs	3.90	3.04	2.72	1.85	0.68	0.40	0.40	1.08	0.91	1.51	0.00	0.90	2.33
Dividend Payout %	3%	3%	4%	5%	14%	25%	24%	11%	11%	7%	3,750%	11%

Compounded Sales Growth
10 Years:	-8%
5 Years:	-5%
3 Years:	22%
TTM:	-13%

Compounded Profit Growth
10 Years:	-11%
5 Years:	15%
3 Years:	2%
TTM:	1141%

Stock Price CAGR
10 Years:	15%
5 Years:	38%
3 Years:	50%
1 Year:	151%

Return on Equity
10 Years:	3%
5 Years:	3%
3 Years:	3%
Last Year:	2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	26	26	26	26	26	26	26	26	26	26	26	26
Reserves	523	605	739	817	855	863	871	896	917	941	942	977
	764	753	799	550	420	382	223	109	167	198	236	257
	142	148	279	261	402	263	268	220	232	102	174	140
Total Liabilities	1,455	1,532	1,843	1,654	1,703	1,535	1,389	1,251	1,342	1,268	1,378	1,401
	900	1,026	1,150	1,063	919	801	765	692	617	915	820	757
CWIP	0	0	0	0	7	0	0	0	0	0	0	0
Investments	127	123	10	8	14	15	38	19	13	10	12	13
	428	382	683	583	763	718	586	540	712	343	546	631
Total Assets	1,455	1,532	1,843	1,654	1,703	1,535	1,389	1,251	1,342	1,268	1,378	1,401

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	17	255	105	220	164	107	142	306	90	145	-20	7
	-352	-211	-48	-80	32	-36	-29	-253	-94	-166	-5	-5
	364	-65	90	-263	-160	-58	-177	-62	32	25	18	-10
Net Cash Flow	29	-21	146	-123	37	13	-64	-9	28	4	-7	-7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	46	31	47	53	96	74	115	76	150	79	91	127
Inventory Days	22	15	10	13	8	26	41	51	59	71	81	114
Days Payable	8	6	5	4	36	6	9	4	42	32	48	41
Cash Conversion Cycle	60	41	52	62	68	94	148	123	167	118	124	200
Working Capital Days	60	40	51	62	56	67	118	102	166	110	123	181
ROCE %	13%	10%	8%	7%	4%	3%	3%	5%	4%	6%	2%	5%

Shareholding Pattern

Numbers in percentages

1 Recently

	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023
	50.13%	50.13%	49.58%	49.58%	49.58%	49.58%	49.58%	49.58%	58.94%	58.94%	58.94%	58.94%
	5.25%	5.30%	5.30%	5.34%	5.37%	5.34%	5.36%	5.36%	35.69%	35.60%	35.67%	35.67%
	3.59%	3.60%	3.67%	3.60%	3.59%	3.59%	3.59%	3.56%	3.56%	3.56%	3.56%	3.56%
	41.03%	40.97%	41.45%	41.48%	41.47%	41.49%	41.47%	41.50%	1.82%	1.89%	1.82%	1.83%
No. of Shareholders	2,852	4,147	4,154	6,124	6,681	7,008	5,931	5,478	6,559	7,863	7,009	6,473

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Jun 2023
	59.51%	59.31%	50.13%	50.13%	49.58%	49.58%	58.94%	58.94%
	4.22%	4.22%	4.24%	4.22%	5.30%	5.36%	35.67%	35.67%
	3.98%	3.98%	3.95%	3.93%	3.67%	3.59%	3.56%	3.56%
	32.28%	32.49%	41.68%	41.71%	41.45%	41.47%	1.82%	1.83%
No. of Shareholders	1,874	2,981	2,214	2,814	4,154	5,931	7,009	6,473

* 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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Sep 2023

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May 2019

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Aug 2018

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Aug 2018

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