Responsive Industries Ltd

₹ 314 -2.01%

02 Jul - 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 ₹ 8,382 Cr.
Current Price ₹ 314
High / Low ₹ 365 / 153
Stock P/E 52.0
Book Value ₹ 42.6
Dividend Yield 0.03 %
ROCE 14.7 %
ROE 15.1 %
Face Value ₹ 1.00

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Pros

Company has delivered good profit growth of 41.1% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 1,254%

Cons

Stock is trading at 7.37 times its book value
Promoter holding has decreased over last quarter: -0.36%
The company has delivered a poor sales growth of 7.00% over past five years.
Tax rate seems low
Company has a low return on equity of 6.14% over last 3 years.
Company has high debtors of 186 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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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	207	176	293	312	325	227	245	264	237	263	268	267	288
	178	153	261	280	300	210	231	228	195	215	207	201	221
Operating Profit	30	23	32	32	25	18	14	36	42	48	61	66	67
OPM %	14%	13%	11%	10%	8%	8%	6%	14%	18%	18%	23%	25%	23%
	3	5	6	2	9	5	5	3	3	2	5	1	9
Interest	2	5	3	3	7	8	8	7	6	5	8	5	5
Depreciation	15	25	25	28	27	24	16	15	15	14	15	16	21
Profit before tax	15	-2	10	3	-0	-9	-5	18	24	32	43	47	50
Tax %	23%	-10%	34%	108%	-764%	-8%	-29%	6%	4%	6%	6%	5%	8%
	12	-3	6	-0	-3	-9	-6	17	23	30	41	45	46
EPS in Rs	0.44	-0.10	0.23	-0.01	-0.12	-0.32	-0.22	0.63	0.85	1.11	1.52	1.68	1.72
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	2,186	2,515	2,106	2,247	2,006	1,247	775	533	756	1,103	974	1,087
	1,936	2,257	1,859	2,041	1,846	1,135	659	436	628	994	863	844
Operating Profit	251	258	248	206	160	112	116	98	128	110	110	243
OPM %	11%	10%	12%	9%	8%	9%	15%	18%	17%	10%	11%	22%
	10	27	32	24	18	13	24	28	-44	24	16	18
Interest	31	31	26	26	23	17	13	21	4	18	28	23
Depreciation	121	145	166	173	132	87	82	78	64	105	69	66
Profit before tax	108	108	87	31	22	21	45	26	15	10	28	172
Tax %	20%	24%	29%	39%	66%	56%	35%	8%	-64%	98%	14%	6%
	87	82	62	19	8	9	29	24	24	0	24	161
EPS in Rs	3.04	2.72	1.85	0.68	0.40	0.40	1.08	0.91	1.51	0.00	0.90	6.05
Dividend Payout %	3%	4%	5%	14%	25%	24%	11%	11%	7%	3,750%	11%	2%

Compounded Sales Growth
10 Years:	-8%
5 Years:	7%
3 Years:	13%
TTM:	12%

Compounded Profit Growth
10 Years:	10%
5 Years:	41%
3 Years:	36%
TTM:	565%

Stock Price CAGR
10 Years:	15%
5 Years:	27%
3 Years:	30%
1 Year:	84%

Return on Equity
10 Years:	4%
5 Years:	6%
3 Years:	6%
Last Year:	15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	26	26	26	26	26	26	26	26	26	26	26	27
Reserves	605	739	817	855	863	871	896	917	941	942	977	1,110
	753	799	550	420	382	223	109	167	198	236	257	215
	148	279	261	402	263	268	220	232	102	174	140	194
Total Liabilities	1,532	1,843	1,654	1,703	1,535	1,389	1,251	1,342	1,268	1,378	1,401	1,546
	1,026	1,150	1,063	919	801	765	692	617	915	820	757	815
CWIP	0	0	0	7	0	0	0	0	0	0	0	0
Investments	123	10	8	14	15	38	19	13	10	12	13	11
	382	683	583	763	718	586	540	712	343	546	631	720
Total Assets	1,532	1,843	1,654	1,703	1,535	1,389	1,251	1,342	1,268	1,378	1,401	1,546

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	255	105	220	164	107	142	306	90	145	-20	7	226
	-211	-48	-80	32	-36	-29	-253	-94	-166	-5	-5	-157
	-65	90	-263	-160	-58	-177	-62	32	25	18	-10	-77
Net Cash Flow	-21	146	-123	37	13	-64	-9	28	4	-7	-7	-8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	31	47	53	96	74	115	76	150	79	91	127	186
Inventory Days	15	10	13	8	26	41	51	59	71	81	114	66
Days Payable	6	5	4	36	6	9	4	42	32	48	41	83
Cash Conversion Cycle	41	52	62	68	94	148	123	167	118	124	200	169
Working Capital Days	40	51	62	56	67	118	102	166	110	123	181	180
ROCE %	10%	8%	7%	4%	3%	3%	5%	4%	6%	2%	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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Sep 2023

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Feb 2020

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Nov 2019

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Aug 2019

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May 2019

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Aug 2018

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Aug 2018

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