Responsive Industries Ltd, one of the leading players in PVC based product segment, has registered a jump of 70% in its net profit to Rs 15.17 crore compared to Rs 8.92 crore in the same quarter previous year. For the same period, Net sales have increased by 14% to Rs. 191.84 crore from Rs. 168.73 crore.
The company has reported an EBIDTA of Rs. 26.51 crore for Q3 FY2011, an increase of 45% compared to Rs. 18.30 crore in Q3FY2010. EBIDTA margins have improved to 13.82% in Q3FY11 compared to 10.85% in Q3FY10.
For the nine months ended December 2010, company’s Net Profit has increased by 13% to Rs. 39.80 crore from Rs. 35.34 crore in the corresponding period last year. For the same period, Net Sales grew by 6.06 % to Rs. 485.38 crore from Rs. 457.60 crore, while EBITDA has increased by 9.7% to Rs. 71.20 crore from Rs. 64.91 crore.
Mr. Atit Agarwal, Chairman and Managing Director, Responsive Industries Limited said, “We have continued our efforts to maximise profits by manufacturing in a cost effective manner. We are adding up further capacities in Vinyl Flooring & PVC leather cloth segments to meet up the continued increase in demands”
The company has planned to increase its capacity in PVC Leather Cloth from 22,000 MTPA to 33,000 MTPA, and from 16,500 MTPA to 50,000 MTPA in Vinyl Flooring by FY12 at a cost of Rs 560 crore.
“We’ll be funding the expansion through debt of Rs 300 crore & equity contribution of about Rs 260 crore. We have already achieved a financial closure from banks for the debt portion and promoters have contributed to the tune of Rs 76 crore while rest of the equity will be funded through the internal accruals”, added Mr. Agarwal.
About Responsive Industries Ltd
Responsive Industries Ltd is one of the leading global players in PVC based product segment, with a market capitalization of over Rs. 2400 crore. Responsive Industries Limited specializes in the manufacturing of wide varieties of PVC flooring solutions, seat covering and upholstery solutions, and pharmaceutical packaging and transparent sheeting; servicing clients across diverse sector. In synthetic ropes segment the company operates through its subsidiary Axiom Cordages Ltd.
Today, the company enjoys a market share of over 65% in the domestic vinyl flooring, artificial leather cloth segment and Responsive hold 85 % market share in the vehicle canopy & seat upholstery segment for the vehicle manufacturing industry. Responsive Industries is the leading supplier to Indian Railways, large private sector players and road transport companies for seat covers, flooring and other products. The company has a well established overseas presence. It exports to more than 70 countries and planning to add 10 to 12 countries each year.
Responsive Industries has a reputed client base which includes Volvo, Mercedes Benz, Tata, Seven Hills Hospital, Big Bazaar, The Home store, Bhabha Atomic Research Centre etc.The Company has generated rich experience and is a respected name while dealing with many government organizations across the globe including India. These governmental clients include Indian Railways, UAE Ministry of Health and South African Department of Health to name a few.
Company’s products and processes demonstrate consistent quality, aligned to international quality standards. Responsive has secured several awards, certifications, ASTM, EN norms, CE certification, ensuring consistency and high standards in production and output