VARMORA

Varmora Granito Limited

Listed company · ISIN INE0M5301040 · NSE EQ · FV ₹2
Last price
₹138
+6.46%today
What this company does

Varmora Granito Limited is a listed company. It booked ₹399 cr of revenue in its latest quarter (Q2 FY27) and kept 11.4% of sales as profit.

67out of 100
Equitytale Health Score
Solid

Healthier than 67% of listed companies we score, on the 4 of 6 measures we could read for it. Each measure is ranked against the 2,403–2,943 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
42

At close. Not part of the score.

Profitability & returns65

How much profit it earns on the money it employs

Balance sheet60

How much it owes, and whether earnings cover the interest

Valuation57

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: cash quality, growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Looks broadly healthy
Strengths
✓ Makes a profit
✓ Promoters hold 47%
✓ No promoter shares pledged
✓ Strong 15% return on equity
✓ Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in VARMORA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹138▲ +6.46%
latest close · 2026-11-06
52-wk low ₹11727 sessions so far52-wk high ₹164
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio15.4Average
LowAverageHigh
P/B ratio2.65Moderate
Below bookModerateHigh
EV / EBITDA11.1Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity15.5%Strong
WeakFairStrong ▸15%
Return on capital17.3%Strong
WeakFairStrong
Net margin11.4%Decent
ThinDecentStrong
EBITDA margin17.3%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.26Comfortable
LowModerateHigh ▸1
Interest cover8.5×Strong
RiskyOkayStrong ▸5×
Current ratio2.69Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹3,111 cr
Book value
₹52
EPS
₹2.23
latest quarter
Net debt
₹-63 cr
more cash than debt
Enterprise value
₹3,048 cr
EBITDA
₹275 cr
annualised
EBIT
₹232 cr
annualised
Operating margin
14.5%
Return on assets
10.2%
Earnings yield
6.48%
P/S
1.95
Sales / share
₹70.6
Tax rate
14.2%
Face value
₹2
Shares
22.6 cr
Working capital
₹740 cr
Current assets
₹1,178 cr
Current liabilities
₹438 cr
Delivery %
39.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-06.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹399 cr
Other Income₹4 cr
Total Income₹403 cr
Cost of Materials₹97 cr
Purchases of Stock-in-Trade₹67 cr
Inventory Change (±)₹-27 cr
Employee Benefit Expense₹26 cr
Finance Costs₹7 cr
Depreciation & Amortisation₹11 cr
Other Expenses₹172 cr
Total Expenses₹352 cr
Exceptional Items₹58.1 L
Profit before Tax₹51 cr
Tax Expense₹7 cr
Share of JV / Associates₹5.1 L
Net Profit₹44 cr
Net margin on total income10.9%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹136 cr33.8%
Employee benefit expense₹26 cr6.4%
Finance costs₹7 cr1.7%
Depreciation & amortisation₹11 cr2.7%
Other expenses₹172 cr42.7%
Tax expense₹7 cr1.8%
Profit for the period₹44 cr10.9%
Total income ₹403 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ1 FY27Q2 FY27
Revenue315 cr399 cr
Total income320 cr403 cr
Expenses305 cr352 cr
Profit before tax14 cr51 cr
Tax4 cr7 cr
Net profit (owners' share)13 cr45 cr
Net margin (owners' share, on revenue)4.0%11.4%
EPS (₹)0.632.23
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹1,781 cr
Shareholder equity
₹1,173 cr
parent shareholders
Total debt
₹309 cr
Cash
₹372 cr
Cash flow · H1 FY27
Operating
₹79 cr
Investing
₹-88 cr
Financing
₹299 cr
Who owns it · 2026-09-30
No pledge
Promoter
47.0%
FII / Foreign
6.1%
DII / Domestic
5.2%
Retail / others
41.7%
Smart-money activity
Bulk / block deals
BoughtSIDDHISURI FINVEST PRIVATE LIMITED · NSE13.50 L @ ₹15529 Sep 26
SoldSIDDHISURI FINVEST PRIVATE LIMITED · NSE7.00 L @ ₹151.8729 Sep 26
SoldNK SECURITIES RESEARCH PRIVATE LIMITED · NSE15.78 L @ ₹155.6329 Sep 26
Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 72 named members
owning 47.0% between them · as of 2026-09-30
Bhavesh Vallabhdas Varmora8.56%
Hiren R Varmora8.46%
Pramodkumar Parsotambhai Patel5.94%
Ramanbhai Jivrajbhai Varmora5.83%
Vallabhbhai Jivrajbhai Varmora4.56%
BHARATBHAI VALLABHDAS VARMORA4.26%
MANISHKUMAR VALLABHBHAI VARMORA4.04%
PARSOTAMBHAI JIVRAJBHAI PATEL2.82%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹320 cr raised in Sep 2026 by selling shares to the public

As of Sep 2026, the company says it has spent 0% of what it set aside, leaving ₹293 cr still to be spent. CRISIL RATINGS LIMITED watches the spending on the exchange’s behalf.

Repayment/ pre-payment, in full or in part, of all or certain outstanding borrowings and accrued interest thereon
0%
₹0 cr of ₹215 cr
Repayment/ pre-payment, in full or in part, of all or certain outstanding borrowings and accrued interest thereon availed by wholly-owned subsidiaries namely Covertek Ceramica Private Limited and Varmora Sanitarywares Private Limited (formerly, Varmora Sanitarywares LLP), through investment in such Subsidiaries
0%
₹0 cr of ₹30 cr
General Corporate purpose
0%
₹0 cr of ₹48 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.