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RESPONIND - Responsive Ind

📊 NSE: RESPONIND 🏢 Plastics Products 📅 Last Updated: 12/14/2025 11:50

📢 Recent Corporate Announcements

Responsive Industries Promoter Group Entity Fairpoint Tradecom LLP Releases Pledged Shares

🟢 POSITIVE ⭐ 7/10

REGULATORY 📅 30 Apr 2026, 05:40 PM

Fairpoint Tradecom LLP, a member of the promoter group of Responsive Industries Limited, has announced the release of pledged shares. This disclosure was made in compliance with Regulation 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The release of a pledge is generally viewed positively by the market as it indicates a reduction in the promoter's leverage or the fulfillment of debt obligations. This move enhances the financial flexibility of the promoter group and reduces the risk of forced liquidation of shares.

Fairpoint Tradecom LLP (Promoter Group) has successfully released pledged shares of Responsive Industries.
The disclosure was filed on April 30, 2026, under SEBI (SAST) Regulations and Master Circular requirements.
Release of pledge typically signifies repayment of loans or improved collateral positioning by promoters.
The action reduces the overall percentage of promoter holdings that are encumbered.
Official notification has been submitted to both BSE (Scrip Code: 505509) and NSE (Symbol: RESPONIND).

💡 Investors should check the updated shareholding pattern to see the exact percentage of remaining pledged shares. A consistent reduction in promoter pledge is a healthy sign for the company's stock stability.

Responsive Industries Appoints Ms. Jeny Gowadia as Independent Director with 99.99% Votes

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 14 Apr 2026, 06:00 PM

Responsive Industries Limited has announced the successful appointment of Ms. Jeny Vinod Kumar Gowadia as a Non-Executive Independent Director for a five-year term. The resolution was passed via postal ballot with an overwhelming majority, receiving 99.9998% of the total votes cast. A total of 162,907,543 votes were polled, representing approximately 61.10% of the company's total shareholding. Both promoters and public institutions showed 100% support for the appointment, indicating strong internal and institutional alignment on board governance.

Appointment of Ms. Jeny Vinod Kumar Gowadia as Independent Director for a 5-year tenure.
Total votes polled reached 162,907,543, accounting for 61.10% of the total voting power.
The resolution passed with 99.9998% votes in favor and only 250 votes against.
Promoter group and Public Institutions both recorded 100% votes in favor of the resolution.
The voting process was conducted via remote e-voting between March 13 and April 11, 2026.

💡 This is a routine regulatory and governance update. Investors should view this as a standard board reinforcement and no immediate action is required based on this announcement.

Responsive Industries Appoints Ruvi Bhansali as CFO w.e.f. April 13, 2026

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 13 Apr 2026, 03:52 PM

Responsive Industries Limited has appointed Mr. Ruvi Bhansali as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective April 13, 2026. Mr. Bhansali brings over 18 years of experience in corporate strategy, strategic financial planning, and risk management. He holds an MBA in Finance and a certification from NISM in Market Regulations and Financial Analysis. This appointment is intended to strengthen the company's financial leadership and strategic fund management.

Appointment of Mr. Ruvi Bhansali as CFO and KMP effective April 13, 2026
Mr. Bhansali has 18+ years of experience in corporate strategy and financial planning
Educational qualifications include an MBA in Finance from ITM Mumbai and NISM certification
Expertise includes fund management, risk management, and strategic negotiation

💡 Investors should monitor the company's financial reporting and capital allocation strategies under the new CFO's leadership. No immediate action is required as this is a standard executive transition.

Responsive Industries Submits SEBI Regulation 74(5) Compliance Certificate for Q4 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Apr 2026, 04:19 PM

Responsive Industries Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Registrar & Share Transfer Agent MUFG Intime India Pvt. Ltd., covers the quarter ended March 31, 2026. The RTA confirmed that no dematerialization requests were received from shareholders during this specific period. This is a standard administrative filing ensuring the company's share register is maintained according to regulatory standards.

Compliance certificate filed for the quarter ended March 31, 2026
RTA MUFG Intime India confirmed zero dematerialization requests were received during the quarter
Confirmation that all regulatory timelines for share processing were met
The filing adheres to SEBI (Depositories and Participants) Regulations, 2018

💡 No action is required as this is a routine regulatory filing. Investors should continue to monitor the company's upcoming quarterly financial results for performance insights.

Responsive Industries Company Secretary Mohini Sharma Resigns Effective March 31, 2026

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 31 Mar 2026, 05:57 PM

Responsive Industries Limited has announced the resignation of Ms. Mohini Sharma from her role as Company Secretary and Compliance Officer. Her resignation is effective from the close of business hours on March 31, 2026, and is attributed to personal reasons. As a Key Managerial Personnel (KMP), her departure is a routine administrative change, and the company has confirmed there are no other material reasons for her exit. The company will need to appoint a successor to ensure continued adherence to SEBI listing regulations.

Ms. Mohini Sharma (FCS 13427) resigned as Company Secretary and Compliance Officer.
The resignation is effective from the close of business hours on March 31, 2026.
The departure is cited as being for personal reasons with no other material concerns.
The company is now required to fill the Key Managerial Personnel (KMP) vacancy as per SEBI norms.

💡 No immediate action is required as this is a routine management transition. Investors should watch for the announcement of a new Compliance Officer to ensure seamless regulatory reporting.

Responsive Industries Promoter Group Fairpoint Tradecom LLP Discloses Creation of Share Pledge

🔵 WATCH ⭐ 6/10

REGULATORY 📅 31 Mar 2026, 04:02 PM

Fairpoint Tradecom LLP, a member of the promoter group of Responsive Industries Limited, has created a pledge on its shareholding. The disclosure was made on March 31, 2026, in compliance with Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations. While the specific quantity of shares pledged was not detailed in the cover letter, the move indicates the promoter group is leveraging its equity. Investors should monitor the total percentage of promoter equity now under encumbrance to assess potential liquidation risks.

Promoter group entity Fairpoint Tradecom LLP has created a new pledge on company shares.
Disclosure submitted under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
The filing was officially recorded with both BSE and NSE on March 31, 2026.
Creation of pledge often signifies the use of equity as collateral for raising capital or debt.

💡 Investors should check the subsequent detailed disclosure to determine the exact percentage of promoter holding pledged. High levels of promoter pledging can be a risk factor if the stock price faces significant downward pressure.

Responsive Industries Announces Trading Window Closure from April 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 28 Mar 2026, 12:08 PM

Responsive Industries Limited has informed the exchanges that its trading window for dealing in company securities will be closed starting April 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the purpose of finalizing the audited financial results for the fiscal year ending March 31, 2026. The window will remain shut for all designated persons until 48 hours after the board meeting results are declared. The specific date for the board meeting to approve these results will be announced separately at a later date.

Trading window closure for designated persons starts on April 1, 2026.
Closure pertains to the Audited Financial Results for the year ending March 31, 2026.
Window will reopen 48 hours after the board meeting concludes and results are disclosed.
Compliance follows SEBI Regulations and BSE/NSE circulars dated April 2, 2019.

💡 This is a routine regulatory filing and requires no immediate action from retail investors. Investors should watch for the upcoming announcement of the board meeting date to assess the company's annual financial performance.

Responsive Industries Promoter Group Fairpoint Tradecom LLP Creates Share Pledge

🔵 WATCH ⭐ 6/10

OTHER 📅 24 Mar 2026, 06:41 PM

Fairpoint Tradecom LLP, a member of the promoter group of Responsive Industries Limited, has disclosed the creation of a pledge on its shareholding. The disclosure was filed on March 24, 2026, in compliance with Regulation 31(1) of the SEBI Substantial Acquisition of Shares and Takeovers Regulations. While the specific number of shares was not detailed in the cover letter, this move indicates the use of equity as collateral for financing. Investors should monitor the total percentage of promoter shares now under encumbrance.

Promoter group entity Fairpoint Tradecom LLP created a new pledge on company shares.
Disclosure submitted under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
The filing was officially acknowledged by BSE (505509) and NSE (RESPONIND) on March 24, 2026.

💡 Investors should review the full disclosure to determine the exact percentage of the promoter's stake that is now pledged, as high levels of pledging can increase stock volatility.

Responsive Industries Clarifies Unsolicited ESG Rating by CFC Finlease Private Limited

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 21 Mar 2026, 03:08 PM

Responsive Industries Limited has issued a clarification regarding an ESG rating disclosure submitted by CFC Finlease Private Limited for ISIN INE688D01026. The company explicitly stated that it has not engaged CFC Finlease for any ESG rating services. The disclosure made by the rating provider was based entirely on information available in the public domain rather than internal company data. The company was alerted to this filing through an automated email from BSE Limited on March 20, 2026.

Company clarifies it has no formal engagement with CFC Finlease Private Limited for ESG ratings.
The disclosure pertains to ISIN INE688D01026 and was based on public domain information.
Responsive Industries was notified of the third-party disclosure by BSE on March 20, 2026.
The announcement is a procedural clarification under Regulation 30 of SEBI LODR.

💡 Investors should treat the ESG rating from CFC Finlease as an unsolicited third-party assessment and not an official company-commissioned report. No immediate portfolio action is required based on this administrative clarification.

Responsive Industries to Appoint Ms. Jeny Gowadia as Independent Director for 5-Year Term

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 10 Mar 2026, 05:19 PM

Responsive Industries Limited has issued a postal ballot notice to seek shareholder approval for the appointment of Ms. Jeny Vinod Kumar Gowadia as a Non-Executive Independent Director. The proposed appointment is for a five-year term effective from February 04, 2026, to February 03, 2031. Shareholders eligible as of the cut-off date of March 06, 2026, can participate in the remote e-voting process. The voting period is set to run from March 13, 2026, through April 11, 2026, with final results expected by April 14, 2026.

Proposed appointment of Ms. Jeny Vinod Kumar Gowadia as Non-Executive Independent Director for 5 consecutive years.
The term of office is specified from February 04, 2026, to February 03, 2031.
Remote e-voting period begins March 13, 2026 (09:00 AM) and ends April 11, 2026 (05:00 PM).
The cut-off date for determining shareholder voting eligibility is Friday, March 06, 2026.
Voting results will be declared on or before April 14, 2026, and communicated to BSE and NSE.

💡 Investors should monitor the board composition changes for corporate governance standards and ensure they participate in the e-voting process if they hold shares as of the cut-off date.

Responsive Industries Promoter Group Pledges 26.5 Lakh Shares for Personal Borrowing

🔵 WATCH ⭐ 6/10

REGULATORY 📅 09 Mar 2026, 11:41 AM

Fairpoint Tradecom LLP, a promoter group entity of Responsive Industries, has disclosed a revised pledge of shares totaling 26.5 lakh shares. The pledges were created on March 5, 2026, in favor of Virtue Financial Services Limited and Imperial Solutions Private Limited. The stated reason for these encumbrances is personal borrowing by the promoter entity. Following these transactions, the total encumbered shares for this promoter entity have increased to 64,49,971 shares, representing 2.42% of the company's total share capital.

Fairpoint Tradecom LLP pledged 3,00,000 shares to Virtue Financial Services Limited on March 5, 2026.
A further 23,50,000 shares were pledged to Imperial Solutions Private Limited on the same date.
Total promoter group encumbrance for this entity now stands at 64,49,971 shares (2.42% of total capital).
The purpose of the share pledge is cited as personal borrowing by the promoter group.
The disclosure was a revised filing to correct a previous typo in the March 7, 2026, report.

💡 Investors should monitor the total promoter pledge levels, as high pledging can create volatility if lenders sell shares during market downturns. Currently, the 2.42% pledge level is relatively low and not an immediate cause for alarm.

Responsive Industries Promoter Pledges 26.5 Lakh Shares for Personal Borrowing

🔵 WATCH ⭐ 6/10

OTHER 📅 07 Mar 2026, 02:29 PM

Fairpoint Tradecom LLP, a promoter group entity of Responsive Industries, has pledged 26.5 lakh equity shares, representing 0.99% of the total share capital. The pledge was created in favor of Virtue Financial Services and Imperial Solutions Private Limited for personal borrowing purposes. This transaction increases the total encumbered shares of the promoter group to 64.49 lakh shares, which is 26.16% of their total holding and 2.42% of the company's total equity. The value of the shares at the time of the agreement was approximately Rs. 45.21 crore.

Fairpoint Tradecom LLP pledged 26,50,000 shares (0.99% of total equity) on March 5, 2026.
Pledge created in favor of Virtue Financial Services (3 lakh shares) and Imperial Solutions (23.5 lakh shares).
Total promoter group encumbrance increased to 64,49,971 shares (2.42% of total company capital).
The purpose of the pledge is cited as personal borrowing by the promoters and PACs.
The value of the pledged shares on the date of the agreement was Rs. 45.21 crore.

💡 Investors should monitor the trend of promoter pledging; while the current 2.42% of total capital is low, a high percentage of promoter-specific holding (26.16%) being pledged warrants a cautious watch on stock volatility.

Responsive Industries Q3 PAT Drops 52% to ₹22.5 Cr Amid US Tariff Pressures

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 13 Feb 2026, 07:31 PM

Responsive Industries reported a challenging Q3 FY26 with revenue declining 15% YoY to ₹311.3 crore and Net Profit plunging 52% to ₹22.5 crore. The sharp decline in profitability was primarily driven by higher import tariffs in the US market, which compressed EBITDA margins from 19.7% to 15.4%. For the nine-month period, the company maintained a relatively stable PAT margin of 13.03% despite a 7% dip in revenue. Management expects a recovery in the coming quarters as tariff rationalization restores competitiveness in export markets.

Q3 FY26 Revenue fell 15% YoY to ₹311.3 crore compared to ₹367.8 crore in Q3 FY25
Net Profit for the quarter saw a sharp decline of 52% YoY, landing at ₹22.5 crore
EBITDA margins contracted significantly to 15.4% from 19.7% in the previous year's quarter
9M FY26 performance remained more resilient with a Net Profit of ₹125.6 crore and a 13.03% PAT margin
Management attributes the dip to temporary US tariff-led margin pressure and expects normalization ahead

💡 Investors should monitor the recovery in export margins and order inflows in Q4 to verify if the tariff impact is indeed transitory as claimed by management. The stock may face short-term pressure due to the significant earnings miss.

Responsive Industries Q3 FY26 Consolidated Net Profit Drops 52% YoY to ₹22.48 Crore

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 13 Feb 2026, 06:55 PM

Responsive Industries Limited reported a weak performance for the quarter ended December 31, 2025. Consolidated revenue from operations declined by 15.4% YoY to ₹311.32 crore, while net profit saw a sharp contraction of 52.1% YoY, falling to ₹22.48 crore from ₹46.95 crore. On a sequential basis, while revenue remained relatively stable, net profit plummeted by over 57% from ₹53.26 crore in Q2 FY26, indicating significant margin pressure during the quarter.

Consolidated Revenue from Operations fell 15.4% YoY to ₹31,131.75 lakhs from ₹36,782.30 lakhs.
Consolidated Net Profit after tax declined 52.1% YoY to ₹2,247.87 lakhs.
Earnings Per Share (EPS) for the quarter dropped to ₹0.84 from ₹1.76 in the corresponding quarter last year.
Nine-month consolidated revenue stands at ₹96,377.83 lakhs, down from ₹1,03,725.14 lakhs in the previous year.
Total Expenses for the quarter stood at ₹28,868.41 lakhs, with a notable exceptional item of ₹54.13 lakhs related to new Labour Codes.

💡 Investors should exercise caution as the sharp decline in profitability both YoY and QoQ suggests rising operational costs or pricing pressure. It is advisable to wait for management commentary regarding the recovery of margins in the flooring and synthetic leather segments before making new entries.

Responsive Industries Q3 FY26 Consolidated Net Profit Drops 52% YoY to ₹22.48 Crore

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 13 Feb 2026, 06:49 PM

Responsive Industries reported a weak performance for the quarter ended December 31, 2025, with consolidated revenue declining 15.4% YoY to ₹311.32 crore. Net profit for the quarter saw a sharp decline of 52.1% YoY, falling to ₹22.48 crore from ₹46.95 crore in the same period last year. On a sequential basis, profits more than halved from ₹53.26 crore in Q2 FY26, despite relatively stable revenue. The company also recorded a small exceptional charge of ₹54.13 lakhs related to the statutory impact of new Labour Codes.

Consolidated Revenue from Operations fell to ₹31,131.75 lakhs in Q3 FY26 from ₹36,782.30 lakhs in Q3 FY25.
Consolidated Net Profit after tax declined sharply to ₹2,247.87 lakhs compared to ₹4,695.27 lakhs YoY.
Earnings Per Share (EPS) for the quarter dropped to ₹0.84 from ₹1.76 in the previous year's corresponding quarter.
Foreign subsidiaries in Hong Kong and USA contributed ₹17,914.20 lakhs to total income and ₹1,922.60 lakhs to net profit for the quarter.
Nine-month consolidated net profit stands at ₹12,560.41 lakhs, down from ₹14,461.28 lakhs in the previous year.

💡 The significant decline in profitability both on a year-on-year and sequential basis is a major concern and may lead to downward pressure on the stock price. Investors should closely examine the margin contraction and the performance of international subsidiaries before making further commitments.

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💰 Financial Performance

Revenue Growth by Segment

Total revenue from operations decreased by 15.15% YoY, falling from INR 654.95 Cr in FY24 to INR 555.74 Cr in FY25. Local sales grew by 15.09% to INR 309.06 Cr, while Export sales saw a significant decline of 36.16% to INR 246.68 Cr.

Geographic Revenue Split

Domestic (India) revenue contribution increased to 55.6% (INR 309.06 Cr) in FY25 from 41% in FY24. Export revenue contribution decreased to 44.4% (INR 246.68 Cr) in FY25 from 59% in FY24, primarily due to global demand shifts and logistics costs.

Profitability Margins

Operating Profit Margin for FY25 stood at 16.48%, a decrease of 8.12% from 17.94% in FY24. Net Profit Margin was 14.02% in FY25 compared to 14.84% in FY24. Return on Net Worth improved slightly to 14.78% in FY25 from 14.18% in FY24.

EBITDA Margin

Consolidated EBITDA margin showed a massive improvement YoY, rising from 11.30% in FY23 to 22.34% in FY24. This was driven by a shift toward high-value products like SPC and LVP, which command higher margins.

Capital Expenditure

The company moved towards positive Free Cash Flow of INR 35 Cr in FY24, compared to zero in FY23, after accounting for acquisition of fixed assets and capital work-in-progress. Historical net worth grew from INR 972 Cr in FY23 to INR 1,137 Cr in FY24.

Credit Rating & Borrowing

The company holds a credit rating of IVR A- (Stable) for long-term facilities and IVR A2+ for short-term facilities. Interest coverage ratio was 9.76x in FY25, slightly down from 10.1x in FY24, indicating strong debt-servicing capability despite a 3.43% performance decline.

⚙️ Operational Drivers

Raw Materials

The primary raw material is PVC (Poly Vinyl Chloride) resin. Other critical inputs include additives for SPC (Stone Plastic Composite) and LVP (Luxury Vinyl Plank) production, as well as materials for the shipping ropes division (Axiom Cordages).

Import Sources

Not explicitly detailed by country in the documents, though the company monitors global commodity prices and maintains a risk mitigation plan for price volatility in international markets.

Capacity Expansion

The company operates a 52-acre state-of-the-art factory in Boisar, Palghar, with 15 manufacturing lines. Current capacity utilization is approximately 50%, with plans to improve utilization levels in the coming years to enhance return ratios.

Raw Material Costs

Raw material and freight costs were cited as the primary reasons for EBITDA margin volatility, causing a drop from 16.87% in FY21 to 10.16% in FY22. The company manages this by establishing clear pricing terms with suppliers and tracking market price changes.

Manufacturing Efficiency

Manufacturing efficiency is being targeted through a shift toward high-value-added products (SPC/LVP) and increasing the utilization of the existing 15 production lines from the current 50% level.

Logistics & Distribution

The company is establishing a robust B2C distribution network in India to increase domestic market penetration. Export logistics are managed through strategic marketing networks globally.

📈 Strategic Growth

Expected Growth Rate

20%

Growth Strategy

Growth will be achieved by capturing 3% of the USD 7.2 Bn USA market for LVP and SPC by FY27, representing a USD 220 Mn opportunity. The strategy involves prioritizing high-margin products, expanding export efforts in the USA, and leveraging the 'China Plus 1' global sourcing shift.

Products & Services

The company sells PVC flooring, Stone Plastic Composite (SPC) flooring, Luxury Vinyl Plank (LVP) flooring, and synthetic shipping ropes.

Brand Portfolio

Responsive Industries (RIL) and Axiom Cordages.

New Products/Services

Focus is shifting heavily toward SPC and LVP flooring, which are expected to sustain EBITDA margins above 20% due to their high-value-added nature.

Market Expansion

Targeting the USA market for flooring products and expanding the domestic B2C brand presence in India through an enhanced distribution network.

Market Share & Ranking

The company aims to capture 3% of the projected USD 7.2 Bn USA market for LVP/SPC by FY27.

Strategic Alliances

The company operates through wholly-owned subsidiaries in Hong Kong, Singapore, and the USA (Responsive Industries Limited LLC) to facilitate global trade and operationalize overseas units.

🌍 External Factors

Industry Trends

The industry is shifting toward high-value-added flooring (SPC/LVP). The USA market is projected to reach USD 7.2 Bn by FY27, growing as consumers move away from traditional flooring to more durable, synthetic options.

Competitive Landscape

Competes in the global PVC flooring and shipping ropes market. Key advantages include lower debt-to-equity (0.18x) and a strong balance sheet compared to smaller peers.

Competitive Moat

Moat is built on a 52-acre integrated manufacturing setup, 40 years of promoter experience, and a well-diversified product portfolio that allows for flexible shifting between domestic and export markets.

Macro Economic Sensitivity

Highly sensitive to global demand-supply conditions and finished goods pricing. The company benefits from anti-dumping duties and export bans affecting competitors.

Consumer Behavior

Increasing consumer preference for value-added, durable flooring products like SPC and LVP in both residential and commercial sectors.

Geopolitical Risks

The 'China Plus 1' strategy and anti-dumping duties are viewed as favorable geopolitical tailwinds that drive demand toward Indian manufacturers like Responsive.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to global trade regulations, including anti-dumping duties and export-import policies that affect the PVC and shipping rope industries.

Taxation Policy Impact

The company follows standard Indian Accounting Standards. Tax as a percentage of profit was 24% in FY22 and 29% in FY21 on a standalone basis.

Legal Contingencies

The company responded to NSE queries regarding volume movement in November 2025, affirming compliance with SEBI LODR regulations and stating no undisclosed price-sensitive information exists.

⚠️ Risk Analysis

Key Uncertainties

Primary risks include volatility in raw material prices and freight costs, which can impact EBITDA margins by 5-8%. Global demand fluctuations also pose a risk to the export-heavy revenue mix.