Responsive Industries Reports Strong Financial Performance for Q3 FY24
Key Highlights:
Profitability: EBITDA expanded significantly to ₹67.93 Cr (25.42%) for the quarter, showing smooth operations, correct product mix, and sustainable margins. YoY growth in EBITDA for Q3 was 72.24%, attributed to market expansion, product diversification, and increased customer base.
Net Profit: Net Profit stood at ₹44.71 Cr (16.73%) for the quarter, with a YoY growth of 165.81%.
Nine-Month Performance: EBITDA reached ₹185.51 Cr (23.22%), a 127.45% increase from the previous year. Net Profit soared to ₹115.40 Cr (14.44%), marking a remarkable 6688.24% increase.
Investment in Innovation: The company remains committed to innovation and cutting-edge technology for consistent growth.
Market Expansion: Responsive Industries expanded its market presence to new regions, leveraging emerging opportunities and strengthening global reach.
Comment by Mr. Rishabh Agarwal, Non-Executive Director & Chairman: Agarwal highlighted the focus on expanding margins and the addition of new distributors and direct customers, projecting robust sales growth in the coming quarters. He expressed support for government initiatives like Atma Nirbhar & Viksit Bharat, Green Energy Vision, and infrastructure development, which are expected to benefit Responsive Industries.
He emphasized that the company's current capacities are sufficient to meet increased demand over the next few years, noting that Responsive Industries is currently debt-free.
Agarwal expressed pride in the company's performance and reiterated commitment to core values of innovation, sustainability, and exceptional service to customers. He expressed confidence in Responsive Industries' continued success and growth prospects.
