Responsive Industries (RESPONDIND), incorporated in 1982, is engaged in manufacture of polyvinyl chloride (PVC) products used for household and commercial purposes. Earlier known as Responsive Polymers, it got its present name with effect from Apr. 16, 2007. Located in the Thane district of Maharashtra, the company completed expansion of its installed capacity in FY07 to increase production of PVC leather cloth, PVC flooring, PVC sheeting, and PVC rigid pipes. The registered office is at Betegaon Boisar (East) village, Mahagaon Road, Palghar taluka, Thane-401501, Maharashtra.
CRISIL Research on Responsive Industries
CRISIL Research has upgraded the fundamental grade of Responsive Industries Ltd (Responsive) to 4/5, which indicates ‘superior’ fundamentals. Responsive is the largest domestic manufacturer of PVC and shipping rope products and has the largest market share. It is one of the low-cost producers due to its cheaper production base in India, while most competitors’ manufacturing facilities are located in the developed world. Responsive has seen over 30% revenue growth over FY07-FY11 and maintained profitability, whereas its global and domestic peers’ revenues have stagnated. CRISIL Research expects Responsive’s revenues to grow at a two-year CAGR of 31% to Rs 2,020 crore in FY13 and EPS to rise from Rs 3.7 in FY11 to Rs 6.5 in FY13.
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