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Responsive Industries, a leading vinyl flooring and synthetic leather manufacturer, has reported that its December quarter net profit doubled to ₹6 crore (₹3 crore) on the back lower raw material cost and good demand.
Revenue from operations was down 19 per cent at ₹124 crore (₹153 crore).
While Ebitda was up marginally at ₹26.9 crore (₹26.8 crore), the Ebitda margin zoomed to 26 per cent from 19 per cent.
Though Coronavirus in China is a sad development, importers have shown interest to diversify sourcing from China to India. "We believe this disruption will help see a significant boost in export revenue in the coming quarters," he said.
The demand for interlocking vinyl tiles for flooring is growing steadily globally and is estimated to touch $45 billion by 2025 from the current level of $25 billion as a replacement of carpet, laminated and engineered wood,. This apart, vinyl tiles are easier for installation, maintenance, higher durability and better aesthetics, he said.
Rishabh Agarwal, Non-executive Chairman, Responsive Industries said with focus on high-margin business, the company has recorded over 20 per cent EBIDTA for the last three quarters and sales revenue is expected to improve with revival of both export and domestic demand.
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