Responsive Industries profit drops 25% as PVC margins compress
Consolidated net profit fell to ₹148.4 crore on flat revenue. Standalone profit was hit harder, down 56%.
— 2 earlier stories on Responsive Industries Ltd. →What's new
- Consolidated net profit fell 25.4% to ₹148.4 crore; standalone profit dropped 56% to ₹14.1 crore.
- Standalone Q4 profit plunged 65% YoY.
- Consolidated revenue was flat at ₹1,394 crore. Board maintained a 10-paise final dividend.
Why this matters
This is a margin story, not a demand story. Revenue held flat, so the entire profit decline came from cost pressures in the core PVC business. The standalone entity is absorbing the worst of it, suggesting the group's other operations are providing a partial, but limited, buffer.
What we're watching
- Whether PVC raw material costs ease in H1 FY27 to relieve margin pressure.
- If standalone weakness persists into Q1 FY27 or stabilises.
- Any shift in the product mix to higher-margin segments.
The full read
Responsive Industries delivered a rough year. Consolidated net profit fell 25.4% to ₹148.4 crore even as revenue held nearly flat at ₹1,394 crore. The hit came entirely from margin compression in the core PVC-products business. Standalone results were far worse: profit fell 56% to ₹14.1 crore, with the Q4 standalone result down 65% YoY. The widening gap between standalone and consolidated performance shows the group's other segments are softening the blow, but not by much when there's no top-line growth to offset the squeeze. The board kept the final dividend at ₹0.10 per share. Auditors signed off on both sets of books with an unmodified opinion. The flat revenue and shrinking margins are the story here.
Questions answered
- Why did standalone profit fall so much harder than consolidated profit?
- Standalone net profit dropped 56% to ₹14.1 crore versus a 25% decline at the consolidated level. The gap suggests the company's non-core segments or subsidiaries performed relatively better, cushioning the standalone business's sharp margin compression.
- How bad was Q4 specifically?
- Standalone Q4 profit fell 65% YoY. That's a steep drop in the final quarter and points to deteriorating conditions.
- Did revenue decline?
- Consolidated revenue from operations slipped marginally to ₹1,394 crore, essentially flat year-on-year. The profit erosion came entirely from margin compression, not a collapse in top-line demand.
- Did the company change its dividend?
- No. The board recommended a final dividend of ₹0.10 per share, unchanged from the prior year. The flat dividend despite a 25% profit drop suggests management is prioritising cash preservation.
Story so far
All notes on RESPONIND →- 26 May 2026 · 2:30 PM IST Responsive Industries profit drops 25% as PVC margins compress
- 41d ago Responsive Industries chairperson quits. No successor named.
- 41d ago Responsive Industries' profit drops 25% as PVC margins erode