Responsive Industries Ltd
Responsive Industries Limited, incorporated in 1982 is a leading India-based manufacturer of polyvinyl chloride (PVC)-based products. [1]
- Market Cap ₹ 5,463 Cr.
- Current Price ₹ 205
- High / Low ₹ 290 / 156
- Stock P/E 26.7
- Book Value ₹ 55.2
- Dividend Yield 0.05 %
- ROCE 15.8 %
- ROE 16.0 %
- Face Value ₹ 1.00
Pros
- Company has delivered good profit growth of 53.9% CAGR over last 5 years
Cons
- Stock is trading at 3.71 times its book value
- Tax rate seems low
- Company has a low return on equity of 11.8% over last 3 years.
- Company has high debtors of 150 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,515 | 2,106 | 2,247 | 2,006 | 1,247 | 775 | 533 | 756 | 1,103 | 974 | 1,087 | 1,418 | 1,401 | |
| 2,257 | 1,859 | 2,041 | 1,846 | 1,135 | 659 | 436 | 628 | 994 | 863 | 843 | 1,123 | 1,101 | |
| Operating Profit | 258 | 248 | 206 | 160 | 112 | 116 | 98 | 128 | 110 | 110 | 244 | 295 | 300 |
| OPM % | 10% | 12% | 9% | 8% | 9% | 15% | 18% | 17% | 10% | 11% | 22% | 21% | 21% |
| 27 | 32 | 24 | 18 | 13 | 24 | 28 | -44 | 24 | 16 | 18 | 8 | 9 | |
| Interest | 31 | 26 | 26 | 23 | 17 | 13 | 21 | 4 | 18 | 28 | 23 | 24 | 26 |
| Depreciation | 145 | 166 | 173 | 132 | 87 | 82 | 78 | 64 | 105 | 69 | 66 | 70 | 71 |
| Profit before tax | 108 | 87 | 31 | 22 | 21 | 45 | 26 | 15 | 10 | 28 | 172 | 210 | 213 |
| Tax % | 24% | 29% | 39% | 66% | 56% | 35% | 8% | -64% | 98% | 14% | 6% | 5% | |
| 82 | 62 | 19 | 8 | 9 | 29 | 24 | 24 | 0 | 24 | 161 | 199 | 204 | |
| EPS in Rs | 2.72 | 1.85 | 0.68 | 0.40 | 0.40 | 1.08 | 0.91 | 1.51 | 0.00 | 0.91 | 6.05 | 7.46 | 7.66 |
| Dividend Payout % | 4% | 5% | 14% | 25% | 24% | 11% | 11% | 7% | 3,750% | 11% | 2% | 1% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -4% |
| 5 Years: | 22% |
| 3 Years: | 9% |
| TTM: | 14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 54% |
| 3 Years: | 1418% |
| TTM: | 9% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 3% |
| 3 Years: | 15% |
| 1 Year: | -24% |
| Return on Equity | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 9% |
| 3 Years: | 12% |
| Last Year: | 16% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 27 | 27 | 27 | 27 |
| Reserves | 739 | 817 | 855 | 863 | 871 | 896 | 917 | 941 | 942 | 946 | 1,110 | 1,319 | 1,445 |
| 799 | 550 | 420 | 382 | 223 | 109 | 167 | 198 | 236 | 260 | 215 | 256 | 205 | |
| 279 | 261 | 402 | 263 | 268 | 220 | 232 | 102 | 174 | 102 | 194 | 136 | 183 | |
| Total Liabilities | 1,843 | 1,654 | 1,703 | 1,535 | 1,389 | 1,251 | 1,342 | 1,268 | 1,378 | 1,334 | 1,546 | 1,738 | 1,860 |
| 1,150 | 1,063 | 919 | 801 | 765 | 692 | 617 | 915 | 820 | 691 | 815 | 797 | 771 | |
| CWIP | 0 | 0 | 7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 10 | 8 | 14 | 15 | 38 | 19 | 13 | 10 | 12 | 13 | 11 | 71 | 72 |
| 683 | 583 | 763 | 718 | 586 | 540 | 712 | 343 | 546 | 630 | 720 | 870 | 1,016 | |
| Total Assets | 1,843 | 1,654 | 1,703 | 1,535 | 1,389 | 1,251 | 1,342 | 1,268 | 1,378 | 1,334 | 1,546 | 1,738 | 1,860 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 105 | 220 | 164 | 107 | 142 | 306 | 90 | 145 | -20 | 7 | 225 | 75 | |
| -48 | -80 | 32 | -36 | -29 | -253 | -94 | -166 | -5 | -5 | -156 | -102 | |
| 90 | -263 | -160 | -58 | -177 | -62 | 32 | 25 | 18 | -10 | -77 | 18 | |
| Net Cash Flow | 146 | -123 | 37 | 13 | -64 | -9 | 28 | 4 | -7 | -7 | -8 | -9 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 47 | 53 | 96 | 74 | 115 | 76 | 150 | 79 | 91 | 127 | 186 | 150 |
| Inventory Days | 10 | 13 | 8 | 26 | 41 | 51 | 59 | 71 | 81 | 114 | 66 | 73 |
| Days Payable | 5 | 4 | 36 | 6 | 9 | 4 | 42 | 32 | 48 | 37 | 83 | 37 |
| Cash Conversion Cycle | 52 | 62 | 68 | 94 | 148 | 123 | 167 | 118 | 124 | 204 | 169 | 186 |
| Working Capital Days | -8 | 29 | 37 | 33 | 72 | 51 | 52 | 29 | 55 | 92 | 108 | 153 |
| ROCE % | 8% | 7% | 4% | 3% | 3% | 5% | 4% | 6% | 2% | 5% | 15% | 16% |
Documents
Announcements
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Intimation Under Regulation 31(A) (8) Of SEBI LODR Regulations
1d - Promoters Abhishek and Saudamini Agarwal withdrew reclassification; remain promoters; filed December 4, 2025.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
2d - Newspaper advertisements for Notice of Postal Ballot
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Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
2 Dec - Postal ballot to appoint Ajay Pratapray Shanghavi as independent director Nov11,2025–Nov10,2030; remote e-voting Dec05–Jan04
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Clarification On Volume Movement
27 Nov - Responded to NSE Nov 26, 2025 query; affirmed SEBI LODR compliance, no undisclosed price-sensitive information.
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Clarification sought from Responsive Industries Ltd
27 Nov - Exchange has sought clarification from Responsive Industries Ltd on November 27, 2025, with reference to Movement in Volume.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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Feb 2025TranscriptAI SummaryPPT
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Jan 2025TranscriptAI SummaryPPT
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Jan 2025TranscriptAI SummaryPPT
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Jun 2024TranscriptPPT
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Sep 2023TranscriptAI SummaryPPT
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Feb 2020TranscriptAI SummaryPPT
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Nov 2019TranscriptAI SummaryPPT
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Aug 2019TranscriptAI SummaryPPT
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May 2019TranscriptAI SummaryPPT
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Aug 2018TranscriptAI SummaryPPT
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Aug 2018TranscriptAI SummaryPPT
Products
The company offers a diverse product range, including luxury vinyl planks, resilient vinyl sheets, synthetic leather, synthetic ropes, and waterproof membranes. Luxury vinyl planks and synthetic leather are used across various industries, such as residential and commercial spaces, healthcare, transportation, and more.[1]