Responsive Industries Limited — Important, 10-02-2025: Updates

**Financial Highlights:** For Q3 FY25, Responsive Industries reported a total income of ₹370.5 Cr, marking a 37.9% increase YoY, while total income for 9MFY25 reached ₹1,044.2 Cr, up 29.2% YoY. EBITDA for Q3 FY25 was ₹75.0 Cr with a margin of 20.2%, a growth of 10.4% YoY. The PAT for Q3 stood at ₹47.0 Cr, reflecting a 5.0% increase YoY, and the PAT margin improved to 12.7%.

**Strategic Initiatives and Growth Drivers:** The company remains focused on value-added products, particularly in the LVP and SPC segments, targeting a USD 220 Mn opportunity in the U.S. market by penetrating just 3% of the projected USD 7.2 Bn market size by FY27.

**Business Developments:** Responsive has expanded its capacity, now operating at ~50%, with plans to improve utilization levels further. The company is also enhancing its distribution network, bolstering its retail presence in the U.S. and India.

**Market Position and Competitive Advantage:** Positioned as India’s largest vinyl flooring manufacturer, Responsive holds a significant market share with over 300 international distributors across 70 countries, providing a competitive edge in global markets.

**Investor Implications:** With a focus on value-added products and improved operational capacity, there is a positive outlook for growth. The anticipated financial performance from expanded market share in the U.S. and ongoing infrastructure projects in India presents attractive opportunities for investors.