Responsive Industries reports 102% rise in Q4 PAT, stock up 2%

Responsive Industries on Wednesday reported a 102% year-on-year (YoY) rise in its net profit for the fourth quarter of fiscal year 2024 at ₹45.87 crore. Shares of the company were trading nearly 2% higher.

The firm reported a 21.52% YoY rise in its revenue at ₹288.19 crore during the quarter. Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 70.36% to ₹75.74 crore while the EBITDA margin improved significantly to 26.28% as compared to 18.75% in the same period a year ago.

The firm’s net profit margin expanded significantly to 15.92% compared to 9.59% in the same quarter a year ago.

For the full fiscal year 2024, the company’s net profit rose over 6 times to ₹161.26 crore as compared to FY23. Revenue rose 11.64% to ₹1,086.97 crore while EBITDA jumped 107.36% YoY to ₹261.25 crore during the year. EBITDA margin nearly doubled to 24.03% in the year as compared to 12.94% in FY23.

The firm’s earnings per share (EPS) for FY24 soared to ₹6.05 as against ₹0.91 in FY23, registering an annualised growth of 564.84%.

Rishabh Agarwal, non-executive director and chairman, Responsive Industries said the firm is seeing all its business verticals firing on all cylinders now. “The company is under the final stages of negotiations with new customers that should enable guide the strong growth over the next multiple quarters. We hope to continue our status as a zero-debt company,” he said.

Agarwal pointed out that the company saw its SPC/LVP floor segment grow the fastest and helped capture the market in the United States of America.

Responsive Industries is involved in manufacturing, marketing, and distributing a wide range of products, including luxury vinyl planks, resilient vinyl sheets, synthetic leather, synthetic ropes, and waterproof membranes.

Shares of the company have gained over 1% since the beginning of the year. The stock has risen over 106% in the last one year.