Responsive Industries Limited has received a credit rating reaffirmation from Infomerics Valuation and Rating, maintaining its IVR A/Stable/IVR A1 rating for total bank facilities worth Rs. 430.27 crore. The rating agency's assessment reflects the company's strong operational performance and robust financial position.

Credit Rating Details

The rating covers various facilities across different categories:

Notably, the long-term bank facilities amount was reduced from Rs. 130.57 crore to Rs. 125.47 crore, while other facility ratings remained unchanged.

Strong Financial Performance

The company demonstrated impressive growth in FY25, with key financial metrics showing substantial improvement:

The revenue growth was primarily driven by strong export performance, with exports accounting for Rs. 246.68 crore (17%) and domestic sales contributing Rs. 1,171.23 crore (83%) in FY25. In H1 FY26, the company reported total operating income of Rs. 652.46 crore with improved EBITDA and PAT margins of 23.65% and 15.81% respectively.

Rating Strengths

Infomerics highlighted several key strengths supporting the rating:

• Experienced Leadership: Promoted by Mr. Rishabh Agarwal with around four decades of experience in the PVC flooring and vitrified tiles industry
• Diversified Portfolio: Over 30 product categories across Vinyl Flooring, Synthetic Leather, and Luxury Vinyl Tiles, serving more than 25 end-user industries
• Global Reach: Distribution network spanning over 50 cities in India and more than 70 countries globally
• Strong Financial Position: Tangible net worth increased to Rs. 1,345.39 crore as of March 31, 2025, from Rs. 1,137.07 crore in the previous year

Comfortable Leverage Metrics

The company maintains a healthy financial risk profile with comfortable leverage indicators:

Despite a moderate increase in total debt, the overall gearing remained stable, while debt protection metrics showed improvement.

Areas of Concern

The rating agency identified certain weaknesses that partially offset the strengths:

• Elongated Operating Cycle: Though improved, the operating cycle remained at 157 days in FY25 compared to 174 days in FY24, primarily due to high receivable days of 147 days
• Raw Material Price Volatility: Exposure to fluctuations in key raw materials including limestone, glass fibre, and vinyl
• Foreign Exchange Risk: Unhedged foreign currency exposure of Rs. 35.77 crore as of December 31, 2025

The stable outlook reflects expectations of sustained operating performance supported by the promoters' track record, diversified product portfolio, and healthy financial risk profile. The rating agency expects the company to maintain its comfortable leverage and strong debt protection metrics over the medium term.

Responsive Industries Limited has formally notified stock exchanges about an upcoming board meeting scheduled to consider its quarterly financial performance. The company has set February 13, 2026, as the date for this crucial corporate governance event.

Board Meeting Details

The board meeting has been organized in accordance with regulatory requirements and will focus on key financial disclosures for the recent quarter.

Trading Window Closure and Reopening

In compliance with insider trading regulations, the company has implemented a trading window closure for designated persons. This measure ensures adherence to SEBI's prohibition of insider trading regulations and the company's internal code of conduct.

Regulatory Compliance Framework

The board meeting notification follows established corporate governance protocols under SEBI regulations. The company has ensured proper communication channels with both major stock exchanges where its securities are listed. Key compliance aspects include:

• Adherence to SEBI Listing Obligations and Disclosure Requirements Regulations, 2015
• Implementation of insider trading prevention measures
• Timely notification to stock exchanges and stakeholders
• Proper documentation and digital authentication of corporate communications

Corporate Communication Details

The official notification was signed by Mohini Sharma, Company Secretary & Compliance Officer, and digitally authenticated on February 5, 2026. The company has committed to uploading the intimation on its official website for broader stakeholder access. This communication protocol ensures transparency and regulatory compliance in corporate disclosures.

The upcoming board meeting represents a standard quarterly review process, allowing the company to present its financial performance for the third quarter and nine months ended December 31, 2025, to stakeholders and regulatory authorities.