Rating agency, CRISIL Research has upgraded Responsive Industries’ CRISIL IER fundamental grade to 4/5 from 3/5. The grade indicates that the company’s fundamentals are superior relative to other listed equity securities in India. The rating agency has also assigned a valuation grade of 3/5 to the company.
The upward revision in fundamental grade is driven by the company’s ability to maintain its dominance in the domestic PVC flooring and PVC leather cloth market. The company is one of the low-cost producers on account of its cheaper production base in India, while most of its competitors’ manufacturing facilities are located in the developed world.
Responsive Industries, established in the year 1996, has come a long way and has firmly rooted itself as one of the most sought after manufacturer, exporter and supplier of PVC polymer based products like PVC floorings & printed tiles.