The shares of this Vinyl flooring manufacturer gained up to 7 percent after the company announced its selection as a key partner for several prestigious hospitality and other projects in Ayodhya.
With a market capitalization of Rs 8,479.82 crore, the shares of Responsive Industries Ltd were trading at Rs 317.70 per share, increasing around 5.01 percent as compared to the previous closing price of Rs 302.55 apiece.
According to the company filing, Responsive Industries Ltd has been chosen as a significant partner for numerous important hotels and other projects currently being built in the holy city of Ayodhya. This relationship will have a substantial beneficial impact on its revenue.
Furthermore, Ayodhya became a new tourist attraction, serving as a hub for a variety of development activities. The company will play an important part in these attempts by delivering high-quality flooring and wall-covering solutions.
The company’s revenue increased by 9 percent, from Rs 245 crore in Q2FY23 to Rs 268 crore in Q2FY24. During the same period, net profit increased by 783 percent, from a loss of Rs 6 crore to a profit of Rs 41 crore.
When it comes to revenue from the geographic segment, the company’s revenue in India increased by 26 percent, from Rs 205.7 crore in FY2021–22 to Rs 261.8 crore in FY2022–23, while revenue from outside of India decreased by 3 percent from Rs 284.8 crore in FY2021-22 to Rs 275.7 crore in FY2022-23.
The stock gave a 68.64 percent return in six months and a 132.05 percent return so far this year. If an investor invests Rs 1 lakh in the company, it would be worth Rs 2.32 Lakhs in a year.
Responsive Industries Ltd. reported return ratios in the recent financial year with a return on equity (ROE) of 2.46 percent and a return on capital employed (ROCE) of 4.51 percent.
Responsive Industries Limited primarily manufactures and sells plastic/polymer-based products. The company manufactures a variety of types, grades, and forms of PVC flooring, PVC leather fabric, and PVC sheeting.
Written by:- Abhishek Singh
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