Responsive Industries' profit drops 25% as PVC margins erode
Consolidated net profit fell to ₹148.4 cr even as revenue held steady at ₹1,394 cr. Standalone profit fell 55%.
— 2 earlier stories on Responsive Industries Ltd. →What's new
- Consolidated net profit fell 25% to ₹148.4 cr on flat ₹1,394 cr revenue.
- Standalone profit fell 55% to ₹14.1 cr, with Q4 standalone profit at ₹1.9 cr, down 65% year-on-year.
- Board recommended a final dividend of 10 paise per share, unchanged.
Why this matters
The headline numbers confirm that margin pressure in Responsive's core PVC business isn't fading. Profit shrank 25% even though revenue was flat, meaning costs or pricing moved the wrong way. The 65% drop in standalone Q4 profit signals the deterioration accelerated in the final quarter.
What we're watching
- Management commentary on PVC input costs and pricing power.
- Whether the Q4 standalone deterioration carries into FY27.
- Any signal on capacity utilisation or volume trends to offset margin squeeze.
The full read
Responsive Industries' FY26 audited results lay the damage bare. Consolidated profit fell 25% to ₹148.4 crore while revenue barely moved at ₹1,394 crore. That spread tells the story: costs rose or prices fell, and the bottom line absorbed the hit. Standalone results were worse. Full-year standalone profit fell 55% to ₹14.1 crore, and the Q4 standalone figure of ₹1.9 crore represented a 65% year-on-year drop. The quarter was worse than the year, which means the squeeze accelerated. The board stuck with the 10 paise final dividend, offering no growth to compensate. This is a company whose core PVC business is compressing margins with no visible relief in the top line.
Questions answered
- Why did profit fall when revenue was flat?
- The filing shows consolidated revenue held at ₹1,394 crore, but net profit dropped 25% to ₹148.4 crore. That gap points to margin compression in the PVC business, likely from input costs or pricing pressure eating into profitability.
- How bad was the standalone quarterly performance?
- Standalone Q4 profit was ₹1.9 crore, a 65% drop year-on-year. For the full year, standalone profit fell 55% to ₹14.1 crore. The quarterly decline is steeper than the full-year figure, which suggests things got worse toward the end of the year.
- What about shareholder returns?
- The board recommended a final dividend of 10 paise per share, which is the same as last year. The unchanged payout means shareholders got no dividend growth to offset the profit decline.
- Is this a one-quarter blip or a trend?
- The full-year standalone profit fell 55% and Q4 standalone fell 65%, both showing deterioration. The quarterly decline is sharper than the full-year, indicating the margin pressure intensified in the last three months.
Story so far
All notes on RESPONIND →- 26 May 2026 · 2:37 PM IST Responsive Industries' profit drops 25% as PVC margins erode
- 41d ago Responsive Industries chairperson quits. No successor named.
- 41d ago Responsive Industries profit drops 25% as PVC margins compress