Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

RESPONSIVE INDUSTRIES 2020-21 Annual Report Analysis
Wed, 31 Mar

RESPONSIVE INDUSTRIES has announced its results for the year ended March 2021. Let us have a look at the detailed performance review of the company during FY20-21.

RESPONSIVE INDUSTRIES Income Statement Analysis

  • Operating income during the year rose 41.8% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 22.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 10.0% in FY21 as against 18.3% in FY20.
  • Depreciation charges decreased by 17.3% and finance costs decreased by 82.1% YoY, respectively.
  • Other income declined by 72.2% YoY.
  • Net profit for the year grew by 0.1% YoY.
  • Net profit margins during the year declined from 4.6% in FY20 to 3.2% in FY21.

RESPONSIVE INDUSTRIES Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 5,331 7,557 41.8%
Other income Rs m 282 78 -72.2%
Total Revenues Rs m 5,613 7,635 36.0%
Gross profit Rs m 975 753 -22.8%
Depreciation Rs m 779 644 -17.3%
Interest Rs m 213 38 -82.1%
Profit before tax Rs m 265 149 -43.8%
Tax Rs m 21 -95 -547.5%
Profit after tax Rs m 244 244 0.1%
Gross profit margin % 18.3 10.0
Effective tax rate % 8.0 -63.9
Net profit margin % 4.6 3.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



New Research: 2 stocks to buy as Nifty50 heads towards 40,000

RESPONSIVE INDUSTRIES Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 2 billion as compared to Rs 2 billion in FY20, thereby witnessing an increase of 4.8%.
  • Long-term debt stood at Rs 306 million as compared to Rs 4 million during FY20, a growth of 8090.9%.
  • Current assets fell 1% and stood at Rs 3 billion, while fixed assets fell 7% and stood at Rs 9 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 13 billion as against Rs 13 billion during FY20, thereby witnessing a fall of 6%.

RESPONSIVE INDUSTRIES Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 9,435 9,674 2.5
 
Current Liabilities Rs m 2,119 2,220 4.8
Long-term Debt Rs m 4 306 8,090.9
Total Liabilities Rs m 13,420 12,676 -5.5
 
Current assets Rs m 3,503 3,471 -0.9
Fixed Assets Rs m 9,916 9,205 -7.2
Total Assets Rs m 13,420 12,676 -5.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



RESPONSIVE INDUSTRIES Cash Flow Statement Analysis

  • RESPONSIVE INDUSTRIES's cash flow from operating activities (CFO) during FY21 stood at Rs 1 billion, an improvement of 61.3% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -2 billion, an improvement of 76.6% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs 254 million on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 44 million from the Rs 283 million net cash flows seen during FY20.

RESPONSIVE INDUSTRIES Cash Flow Statement 2020-21

Particulars No. of months 12 12 % Change
Year Ending Mar-20 Mar-21
Cash Flow from Operating Activities Rs m 900 1,452 61.3%
Cash Flow from Investing Activities Rs m -941 -1,662 -
Cash Flow from Financing Activities Rs m 324 254 -21.8%
Net Cash Flow Rs m 283 44 -84.4%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for RESPONSIVE INDUSTRIES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.9, an improvement from the EPS of Rs 0.9 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 168.1, stands at 183.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 4.6 times, while the price to sales ratio stands at 5.8 times.
  • The company's price to cash flow (P/CF) ratio stood at 40.3 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Sales per share (Unadj.) Rs 20.3 28.8
TTM Earnings per share Rs 0.9 0.9
Diluted earnings per share Rs 0.9 0.9
Price to Cash Flow x 21.2 40.3
TTM P/E ratio x 88.9 183.8
Price / Book Value ratio x 2.5 3.7
Market Cap Rs m 23,979 35,817
Dividends per share (Unadj.) Rs 0.1 0.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for RESPONSIVE INDUSTRIES

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.6x during FY21, from 1.7x during FY20. The current ratio measures the company's ability to pay short-term and long-term obligations.

    Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 4.9x during FY21, from 2.2x during FY20. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company declined and down at 2.5% during FY21, from 2.6% during FY21. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

    Return on Capital Employed (ROCE): The ROCE for the company declined and down at 1.9% during FY21, from 5.1% during FY20. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

    Return on Assets (ROA): The ROA of the company declined and down at 2.2% during FY21, from 3.4% during FY20. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Current ratio x 1.7 1.6
Debtors’ Days Days 150 79
Interest coverage x 2.2 4.9
Debt to equity ratio x 0.0 0.0
Return on assets % 3.4 2.2
Return on equity % 2.6 2.5
Return on capital employed % 5.1 1.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how RESPONSIVE INDUSTRIES has performed over the last 5 years, please visit here.

RESPONSIVE INDUSTRIES Share Price Performance

Over the last one year, RESPONSIVE INDUSTRIES share price has moved up from Rs 81.2 to Rs 168.1, registering a gain of Rs 86.9 or around 107.0%.

Overall, the S&P BSE SENSEX is up 74.1% over the year.

(To know more, check out historical annual results for RESPONSIVE INDUSTRIES and quarterly results for RESPONSIVE INDUSTRIES)

Annual Report FAQs

What is the current share price of RESPONSIVE INDUSTRIES?

RESPONSIVE INDUSTRIES currently trades at Rs 280.0 per share. You can check out the latest share price performance of RESPONSIVE INDUSTRIES here...

What was the revenue of RESPONSIVE INDUSTRIES in FY21? How does it compare to earlier years?

The revenues of RESPONSIVE INDUSTRIES stood at Rs 7,635 m in FY21, which was up 36.0% compared to Rs 5,613 m reported in FY20.

RESPONSIVE INDUSTRIES' revenue has fallen from Rs 19,756 m in FY17 to Rs 7,635 m in FY21.

Over the past 5 years, the revenue of RESPONSIVE INDUSTRIES has grown at a CAGR of -21.2%.

What was the net profit of RESPONSIVE INDUSTRIES in FY21? How does it compare to earlier years?

The net profit of RESPONSIVE INDUSTRIES stood at Rs 244 m in FY21, which was up 0.1% compared to Rs 244 m reported in FY20.

This compares to a net profit of Rs 295 m in FY19 and a net profit of Rs 94 m in FY18.

Over the past 5 years, RESPONSIVE INDUSTRIES net profit has grown at a CAGR of 33.7%.

What does the cash flow statement of RESPONSIVE INDUSTRIES reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of RESPONSIVE INDUSTRIES reveals:

  • Cash flow from operations increased in FY21 and stood at Rs 1,452 m as compared to Rs 900 m in FY20.
  • Cash flow from investments decreased in FY21 and stood at Rs -1,662 m as compared to Rs -941 m in FY20.
  • Cash flow from financial activity decreased in FY21 and stood at Rs 254 m as compared to Rs 324 m in FY20.

Here's the cash flow statement of RESPONSIVE INDUSTRIES for the past 5 years.

(Rs m)FY17FY18FY19FY20FY21
From Operations1,0741,4173,0649001,452
From Investments-365-288-2,529-941-1,662
From Financial Activity-575-1,766-621324254
Net Cashflow134-637-8628344

What does the Key Ratio analysis of RESPONSIVE INDUSTRIES reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of RESPONSIVE INDUSTRIES reveals:

  • Operating profit margins witnessed a fall and stood at 10.0% in FY21 as against 18.3% in FY20.
  • Net profit margins declined from 4.6% in FY20 to 3.2% in FY21.
  • Debt to Equity ratio for FY21 stood at 0.0 as compared to 0.0 in FY20.

Here's the ratio/financial analysis of RESPONSIVE INDUSTRIES for the past 5 years.

 FY17FY18FY19FY20FY21
Operating Profit Margin (%)8.28.614.918.310.0
Net Profit Margin (%)0.40.83.84.63.2
Debt to Equity Ratio (x)0.10.00.00.00.0

Equitymaster requests your view! Post a comment on "RESPONSIVE INDUSTRIES 2020-21 Annual Report Analysis". Click here!