Varmora Granito Reports Higher H1 FY27 Profit as September Quarter Recovers

Varmora Granito Limited reported improved financial performance for the first half of FY27, supported by a recovery in the September quarter and growth in its premium tile and technical product portfolio.

For the six months ended September 30, 2026, revenue from operations increased 3.3 per cent year-on-year to Rs 714.2 crore. Profit after tax (PAT) rose 498 per cent year-on-year to Rs 53.7 crore. These were the company’s first financial results following its listing on the BSE and NSE on September 29.

The September quarter showed a recovery from the preceding quarter. Revenue stood at Rs 399 crore, increasing 9 per cent year-on-year and 27 per cent sequentially. Quarterly PAT increased to Rs 44 crore from Rs 14.4 crore in the corresponding period last year. The June quarter had been affected by disruptions to tile manufacturing in Morbi following an increase in natural gas prices amid the West Asia conflict.

Premium glazed vitrified tiles and technical products accounted for 87 per cent of first-half revenue, compared with 83 per cent a year earlier. The company launched 508 new designs and added four exclusive brand outlets during the period, taking its network to 309 outlets, alongside more than 2,000 multi-brand outlets.

Domestic revenue increased 9 per cent to Rs 589.7 crore, while export revenue declined 18 per cent to Rs 124.5 crore due to the Morbi disruption and higher freight costs to Gulf markets. EBITDA stood at Rs 101.3 crore, with a margin of 14 per cent, compared with 12 per cent in the year-ago period.

During the period, Varmora completed its Rs 708 crore IPO, including a fresh issue of Rs 320 crore, with the fresh proceeds used to repay debt. The company also commenced production at its new Tezpur facility in Assam and plans to upgrade its Solaris unit for GVT manufacturing.