NSE: RESPONIND · BSE: 505509
RESPONSIVE INDUSTRIES LTD
Manufactures vinyl flooring, synthetic leather and synthetic ropes, with vinyl flooring the largest of the three product groups. In FY26, consolidated revenue was Rs 1,394.12 crore and net profit Rs 148.43 crore on total assets of Rs 1,853.44 crore, with an EBITDA margin of 18.03%. A meaningful share of consolidated turnover is from exports, with products sold into more than 70 countries. The workforce comprises 275 permanent employees and 102 workers, and operations are certified to ISO 9001, 14001 and 45001 standards. The largest input cost is raw materials at 23.9% of revenue, followed by other operating expenses at 9.2% and depreciation at 5.1%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Vinyl Flooring, Synthetic Leather, Synthetic Ropes. Manufacturer of vinyl flooring, synthetic leather and synthetic ropes with significant export exposure and low capex intensity (1.2% of revenue)
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,106 | 974 | 1,087 | 1,418 | 1,394 |
| EBITDA (ex other income) | 112 | 110 | 243 | 295 | 241 |
| margin % | 10.2 | 11.3 | 22.3 | 20.8 | 17.3 |
| Owners' profit | 0 | 24 | 167 | 0 | 0 |
| EPS, as reported (₹) | 0.00 | 0.93 | 6.05 | 7.46 | 5.57 |
| ROE % · ROCE % | 0.0 · 2.7 | 2.4 · 5.3 | 14.2 · 16.6 | 14.8 · 15.7 | 9.5 · 10.7 |
| Debt / equity (x) | 0.23 | 0.25 | 0.18 | 0.19 | 0.12 |
| Cash from operations | (20) | 7 | 226 | 75 | 40 |
| Capex | (14) | (8) | (190) | (52) | (17) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 350 | 368 | 381 | 339 | 314 | 311 | 430 | 193 |
| Profit before tax | 52 | 51 | 56 | 52 | 55 | 24 | 24 | 4 |
| Net profit | 49 | 47 | 54 | 50 | 53 | 22 | 23 | 3 |
| EPS (₹) | 1.85 | 1.75 | 2.03 | 1.87 | 2.00 | 0.84 | 0.86 | 0.10 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SHEELA FOAM LIMITED | 6,086 | 28.4 | 1.87 | 15.3 | 4.9 | 5.0 | 9.4 | 12.7 |
| WAKEFIT INNOVATIONS LTD | 4,487 | 25.0 | 3.96 | — | 16.7 | 6.8 | — | 17.8 |
| RESPONSIVE INDUSTRIES LTD ◆ | 3,986 | 39.3 | 2.56 | 16.6 | 9.5 | 9.2 | 13.0 | 13.1 |
| EURO PRATIK SALES LIMITED | 1,728 | 20.0 | 5.39 | 15.2 | 24.1 | 31.2 | — | 28.2 |
| STANLEY LIFESTYLES LTD | 732 | 180.3 | 1.55 | 7.5 | 2.8 | 2.3 | — | 23.0 |
| HARDWYN INDIA LIMITED | 444 | 35.0 | 1.09 | 20.7 | 3.3 | 4.6 | — | 13.1 |
| AHLADA ENGINEERS LIMITED | 47 | — | 0.34 | — | 0.1 | 0.2 | — | 13.8 |
| PRITI INTERNATIONAL LTD | 39 | 49.8 | 0.53 | — | 1.2 | 1.7 | — | 8.6 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 39.3 | 35.0 | 5 of 7 | 33% |
| P/B | 2.6 | 1.7 | 6 of 8 | 29% |
| ROCE | 9.2 | 4.8 | 2 of 8 | 86% |
| ROE | 9.5 | 4.1 | 3 of 8 | 71% |
| Debt / Equity | 0.1 | 0.0 | 6 of 8 | 29% |
| EBITDA margin | 13.1 | 13.5 | 5 of 8 | 43% |
| Revenue growth | (43.1) | (12.1) | 6 of 7 | 17% |
| Profit growth | (94.5) | (53.6) | 7 of 7 | 0% |
| Market cap | 3986 | 1230 | 3 of 8 | 71% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 22 Oct 2026 · Independent Director Sanjiv Swarup resigns from Responsive Industries | management changes | high | — | — |
| 22 Oct 2026 · Independent Director Sanjiv Swarup resigns effective October 22, 2026 | management changes | medium | — | — |
| 15 Oct 2026 · Promoter group Fairpoint Tradecom churns share pledges | ownership changes | high | — | — |
| 13 Oct 2026 · Reconciliation of Share Capital Audit Report for Q2 FY27 filed | compliance | minimal | — | — |
| 6 Oct 2026 · RTA submits Reg 74(5) demat certificate for Sep 2026 quarter | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closed ahead of Q2 FY27 results | compliance | minimal | — | — |
| 17 Sept 2026 · Board Rejects Proposed Buyback of Equity Shares | corporate actions | high | — | — |
| 10 Sept 2026 · Board meeting on Sep 17, 2026 to consider share buyback proposal | corporate actions | high | — | — |
| 1 Sept 2026 · Promoter group creates pledge on Responsive Industries shares | ownership changes | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.