---
title: "Varmora Granito (VARMORA) Share Price, Financials & Research"
symbol: "VARMORA"
company: "Varmora Granito Ltd"
canonical: "https://tapetide.com/stocks/VARMORA"
isin: "INE0M5301040"
nse_symbol: "VARMORA"
bse_code: "544942"
sector: "Consumer Discretionary"
industry: "Consumer Durables"
generated_at: "2026-11-05T01:31:10.453Z"
---

# Varmora Granito (VARMORA)

Canonical page: https://tapetide.com/stocks/VARMORA

## Key Facts

- **Price:** ₹134.08 as of 4 Nov 2026, 15:52 IST
- **P/E (TTM):** 25.30 as of 4 Nov 2026
- **Revenue, Sep 2026 quarter:** ₹399.0 Cr, against ₹366.8 Cr in Sep 2025 (+8.78% year on year)
- **Net profit, Sep 2026 quarter:** ₹44 Cr, against ₹14 Cr in Sep 2025
- **Promoter holding:** 47.04% in Sep 2026

## Company

- **NSE symbol:** VARMORA
- **BSE code:** 544942
- **ISIN:** INE0M5301040
- **Macro sector:** Consumer Discretionary
- **Sector:** Consumer Discretionary
- **Industry:** Consumer Durables
- **Basic industry:** Ceramics
- **In the F&O segment:** No

## Latest Price

- **Price:** ₹134.08
- **Change:** No trade today
- **Previous Close:** ₹134.08
- **As of:** 4 Nov 2026, 15:52 IST

## Key Fundamentals

Price-based figures as of 4 Nov 2026, 15:52 IST · TTM.

- **ROCE:** 9.46%
- **Debt to Equity:** 0.47
- **EPS (TTM):** ₹5.30
- **Book Value:** ₹51.89
- **P/E (TTM):** 25.30
- **P/B:** 2.58
- **ROE:** 8.05%
- **Dividend Yield:** 0.00%
- **EBITDA:** ₹222 Cr
- **52W High:** ₹163.77
- **52W Low:** ₹117.42

## Peer Comparison

Classification: Consumer Discretionary › Consumer Durables › Ceramics

| Company | Price | P/E | Market Cap | P/B | Div Yield | ROE | ROCE | Sales TTM | Net Profit TTM |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| [Kajaria Ceramics Ltd (KAJARIACER)](https://tapetide.com/stocks/KAJARIACER) | ₹1,159.60 | 33.83 | ₹18,188 Cr | 6.08 | 1.05% | 17.90% | 23.40% | ₹5,056 Cr | ₹548 Cr |
| [Varmora Granito Ltd (VARMORA)](https://tapetide.com/stocks/VARMORA) (this company) | ₹134.08 | 25.30 | ₹2,781 Cr | 2.58 | 0.00% | 8.05% | 9.46% | ₹1,565 Cr | ₹100 Cr |
| [Somany Ceramics Ltd (SOMANYCERA)](https://tapetide.com/stocks/SOMANYCERA) | ₹570.45 | 22.00 | ₹2,297 Cr | 2.78 | 1.08% | 10.40% | 12.80% | ₹2,935 Cr | ₹100 Cr |
| [Nitco Ltd (NITCO)](https://tapetide.com/stocks/NITCO) | ₹79.76 | — | ₹1,877 Cr | 4.56 | 0.00% | 10.80% | 7.16% | ₹508 Cr | -₹29 Cr |
| [Asian Granito India Ltd (ASIANTILES)](https://tapetide.com/stocks/ASIANTILES) | ₹44.45 | 57.73 | ₹1,051 Cr | 0.87 | 1.54% | 1.27% | 2.85% | ₹1,938 Cr | ₹11 Cr |
| [Orient Bell Ltd (ORIENTBELL)](https://tapetide.com/stocks/ORIENTBELL) | ₹387.90 | 28.17 | ₹543 Cr | 1.74 | 0.28% | 3.80% | 5.58% | ₹744 Cr | ₹20 Cr |
| [Exxaro Tiles Ltd (EXXARO)](https://tapetide.com/stocks/EXXARO) | ₹6.31 | 70.11 | ₹282 Cr | 0.99 | 0.00% | 1.01% | 4.31% | ₹325 Cr | ₹4 Cr |
| Median of 7 companies | ₹134.08 | 31.00 | ₹1,877 Cr | 2.58 | 0.28% | 8.05% | 7.16% | ₹1,565 Cr | ₹20 Cr |

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

## Key Insights

### Strengths

- Company has reduced debt.

### Weaknesses

- Company has a low return on equity of 6.64% over last 3 years.

## Technical Indicators

As of 4 Nov 2026.

| Group | Signal | Bearish | Neutral | Bullish |
| --- | --- | ---: | ---: | ---: |
| Overall | Bullish | 0 | 14 | 5 |
| Oscillators | Bullish | 0 | 8 | 1 |
| Moving Averages | Bullish | 0 | 6 | 4 |

### Oscillators: Bullish

| Name | Value | Signal |
| --- | ---: | --- |
| RSI (14) | 46.01 | Neutral |
| MACD (12,26,9) | — | Neutral |
| Stochastic (14,3,3) | 34.17 | Neutral |
| ADX (14) | — | Neutral |
| Williams %R (14) | -43.49 | Neutral |
| ATR (14) | 7.57 | Neutral |
| ROC (12) | 4.91 | Bullish |
| Stoch RSI (14) | — | Neutral |
| UO (7,14,28) | — | Neutral |

### Moving Averages: Bullish

| Name | Value | Signal |
| --- | ---: | --- |
| SMA (10) | 125.76 | Bullish |
| EMA (10) | 127.03 | Bullish |
| SMA (20) | 129.34 | Bullish |
| EMA (20) | 129.96 | Bullish |
| SMA (50) | — | Neutral |
| EMA (50) | — | Neutral |
| SMA (100) | — | Neutral |
| EMA (100) | — | Neutral |
| SMA (200) | — | Neutral |
| EMA (200) | — | Neutral |

### Pivot Points

| Level | Classic | Fibonacci | Camarilla |
| --- | ---: | ---: | ---: |
| R3 | 153.38 | 144.69 | 137.93 |
| R2 | 144.69 | 139.34 | 136.65 |
| R1 | 139.38 | 136.04 | 135.36 |
| PP | 130.69 | 130.69 | 130.69 |
| S1 | 125.38 | 125.34 | 132.80 |
| S2 | 116.69 | 122.04 | 131.51 |
| S3 | 111.38 | 116.69 | 130.23 |

## Growth Rate

Growth computed from the financial statements below. A window with no rate gives the reason instead of a figure.

| Metric | Window | Growth | What it compares |
| --- | --- | ---: | --- |
| Revenue | 5Y | 12.53% | compounded annual rate, Mar 2021 to Mar 2026 |
| Revenue | 3Y | 4.24% | compounded annual rate, Mar 2023 to Mar 2026 |
| Revenue | 1Y | 4.56% | fiscal year to Mar 2026 vs the year to Mar 2025 |
| Net profit | 5Y | 6.58% | compounded annual rate, Mar 2021 to Mar 2026 |
| Net profit | 3Y | 0% | compounded annual rate, Mar 2023 to Mar 2026 |
| Net profit | 1Y | 77.42% | fiscal year to Mar 2026 vs the year to Mar 2025 |
| Operating cash flow | 5Y | 15.27% | compounded annual rate, Mar 2021 to Mar 2026 |
| Operating cash flow | 3Y | Turned positive | compounded annual rate, Mar 2023 to Mar 2026: -₹10.00 Cr to ₹234 Cr. A cash outflow at the start and an inflow at the end. |
| Operating cash flow | 1Y | 271% | fiscal year to Mar 2026 vs the year to Mar 2025 |
| Operating margin | 5Y | +0.33 pp | compounded annual rate, Mar 2021 to Mar 2026 |
| Operating margin | 3Y | +2.62 pp | compounded annual rate, Mar 2023 to Mar 2026 |
| Operating margin | 1Y | +0.73 pp | fiscal year to Mar 2026 vs the year to Mar 2025 |

Trailing twelve months: Results are not reported for each of the last eight quarters, so there is no trailing-twelve-month figure.

## Financial Statements

### Quarterly Results

Figures in ₹ crore unless the row name gives another unit.

| Item | Jun 2025 | Sep 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Sales | 325 | 367 | 453 | 315 | 399 |
| Expenses | 303 | 332 | 382 | 287 | 334 |
| Operating Profit | 22 | 35 | 71 | 28 | 65 |
| OPM % | 7% | 9% | 16% | 9% | 16% |
| Other Income | 8 | 23 | 18 | 5 | 3.62 |
| Interest | 11 | 10 | 10 | 7 | 7 |
| Depreciation | 26 | 27 | 26 | 12 | 11 |
| Profit before tax | -7 | 21 | 53 | 14.37 | 51 |
| Tax % | -26% | 32% | 27% | 31% | 14% |
| Net Profit | -5 | 14 | 39 | 10 | 44 |
| EPS in Rs | -0.21 | 0.82 | 2.02 | 0.63 | 2.01 |

### Profit & Loss

Figures in ₹ crore unless the row name gives another unit.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Sales | 838 | 1,056 | 1,335 | 1,435 | 1,446 | 1,512 |
| Expenses | 746 | 942 | 1,219 | 1,322 | 1,293 | 1,341 |
| Operating Profit | 92 | 114 | 116 | 113 | 153 | 171 |
| OPM % | 11% | 11% | 9% | 8% | 11% | 11% |
| Other Income | 5 | 7 | 67 | 40 | 46 | 51 |
| Interest | 15 | 17 | 42 | 29 | 42 | 39 |
| Depreciation | 28 | 35 | 56 | 62 | 119 | 106 |
| Profit before tax | 54 | 69 | 85 | 63 | 38 | 77 |
| Tax % | 26% | 27% | 35% | 29% | 18% | 28% |
| Net Profit | 40 | 51 | 55 | 45 | 31 | 55 |
| EPS in Rs | 34.65 | 47.55 | 38.25 | 5.53 | 1.75 | 3.08 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |

### Balance Sheet

Figures in ₹ crore unless the row name gives another unit.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Equity Capital | 10 | 10 | 13 | 40 | 40 | 40 |
| Reserves | 153 | 201 | 638 | 648 | 692 | 766 |
| Borrowings | 227 | 246 | 275 | 428 | 521 | 377 |
| Other Liabilities | 230 | 291 | 329 | 352 | 332 | 323 |
| Total Liabilities | 621 | 748 | 1,256 | 1,467 | 1,585 | 1,506 |
| Fixed Assets | 178 | 252 | 382 | 752 | 706 | 617 |
| CWIP | 32 | 5 | 3 | 3 | 10 | 27 |
| Investments | 20 | 27 | 29 | 32 | 34 | 53 |
| Other Assets | 390 | 464 | 842 | 680 | 836 | 808 |
| Total Assets | 621 | 748 | 1,256 | 1,467 | 1,585 | 1,506 |

### Cash Flow

Figures in ₹ crore unless the row name gives another unit.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash from Operating Activity | 115 | 68 | -10 | 88 | 63 | 234 |
| Cash from Investing Activity | -97 | -75 | -83 | -337 | -120 | -46 |
| Cash from Financing Activity | -1 | 17 | 290 | 115 | 47 | -188 |
| Net Cash Flow | 18 | 9 | 197 | -133 | -10 | 0 |
| Free Cash Flow | 20 | -4 | -23 | -258 | -40 | 202 |
| CFO/OP | 137 | 74 | 13 | 96 | 50 | 146 |

### Ratios

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Debtor Days | 106 | 93 | 99 | 85 | 96 | 92 |
| Inventory Days | 66 | 94 | 138 | 112 | 215 | 156 |
| Days Payable | 119 | 144 | 175 | 114 | 158 | 138 |
| Cash Conversion Cycle | 53 | 43 | 62 | 83 | 154 | 110 |
| Working Capital Days | 32 | 22 | 38 | 36 | 40 | 50 |
| ROCE % | — | 19% | 17% | 9% | 7% | 9% |

## Shareholding Pattern

### Quarterly Shareholding

Holdings in % of shares; shareholders as a count.

| Holder | Sep 2026 |
| --- | ---: |
| Promoters | 47.04% |
| FIIs | 6.06% |
| DIIs | 5.18% |
| Government | 0.00% |
| Public | 18.74% |
| Others | 22.98% |
| No. of Shareholders | 1,38,169 |

## Documents

### Concalls

| Month | Call documents |
| --- | --- |
| Oct 2026 | [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=12ae67b1-ce26-46ea-8527-76f4d6ff1db8.pdf), [Recording](https://cdn.varmora.com/payload-media/static/recording-of-con-call-23-10-26.mp3) |

### Results

| Date | Document |
| --- | --- |
| 19 Oct 2026 | [Outcome Of Board Meeting Dated October 19 2026 Pursuant To Reg 30 And Other Applicable Provisions Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 For Quarter Ended June 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cb460762-b480-4a12-9da7-407858342717.pdf) |
| 19 Oct 2026 | [Outcome Of Board Meeting Dated October 19 2026 Pursuant To Reg 30 And Other Applicable Provisions Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 For Quarter And Half Year Ended September 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8f30e0c4-97c5-44cf-8c70-a312da8e8c5b.pdf) |

### Credit ratings

| Date | Document |
| --- | --- |
| 19 Oct 2026 | [Credit rating update — CRISIL](https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/VarmoraGranitoLimited_October%2019_%202026_RR_406396.html) |
| 21 Apr 2026 | [Credit rating update — CRISIL](https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/VarmoraGranitoLimited_April%2021_%202026_RR_393181.html) |
| 24 Oct 2025 | [Credit rating update — CRISIL](https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/VarmoraGranitoLimited_October%2024_%202025_RR_378670.html) |

### Exchange filings

| Date | Document | Category |
| --- | --- | --- |
| 27 Oct 2026 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1c7a0fa4-7a2e-4d27-95e9-fa8b1ac3244d.pdf) | — |
| 23 Oct 2026 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=fedb7f23-9a5d-431d-a95e-6f43404c630e.pdf) | — |
| 19 Oct 2026 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=36a44058-f47d-455b-868f-4d29a1e4a610.pdf) | General announcements |
| 19 Oct 2026 | [Board Meeting Outcome for Outcome Of Board Meeting Dated October 19 2026 Pursuant To Reg 30 And Other Applicable Provisions Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a8b1bda5-e9c5-4c8a-9dbe-914c72abe6c1.pdf) | Outcome |
| 19 Oct 2026 | [Announcement under Regulation 30 (LODR)-Press Release / Media Release](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bd4cb1c3-8a97-41f6-be33-edafe87d8620.pdf) | General announcements |
| 14 Oct 2026 | [Board Meeting Intimation for Approving Un-Audited Financial Results (Standalone And Consolidated) Of The Company For The Quarter Ended June 30 2026 And Quarter And Half Year Ended September 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=57676262-8cff-43b7-aa24-292c6b8e93ed.pdf) | Intimation |
| 6 Oct 2026 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4a25495e-8a31-449c-a5d7-0c0287827b34.pdf) | General announcements |
| 1 Oct 2026 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f356c26c-4a32-4869-9f22-0a010408f1a0.pdf) | Intimation |
| 29 Sep 2026 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=db99dc44-cdf0-4a1f-8d7e-325903cbf261.pdf) | Intimation |
| 29 Sep 2026 | [Intimation Under Regulation 8(2) Of The Securities And Exchange Board Of India (Prohibition Of Insider Trading) Regulations 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5f1bd6c2-3429-4c57-b6a3-4a0bfbc207b3.pdf) | General announcements |
| 29 Sep 2026 | [Disclosure Under Regulation 30(5) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0038a7e5-3f81-4bb9-8070-5a9ff907a793.pdf) | General announcements |

## Frequently Asked Questions about Varmora Granito

### What does Varmora Granito Ltd do?

Varmora Granito Limited, incorporated in 2003, manufactures and markets ceramic and vitrified tiles, including Glazed Vitrified Tiles (GVT), Polished Vitrified Tiles (PVT), and ceramic tiles.

### Where is Varmora Granito Ltd (VARMORA) listed?

Varmora Granito Ltd trades as VARMORA on the NSE and under code 544942 on the BSE.

### Which sector does Varmora Granito Ltd belong to?

Varmora Granito Ltd is classified under the Consumer Discretionary sector, in the Consumer Durables industry.

### What is the PE ratio of Varmora Granito Ltd?

Varmora Granito Ltd trades at a PE ratio of 25.30 as of 4 Nov 2026, on earnings per share of ₹5.3, against a book value of ₹51.89 per share.

### What is the 52-week high and low of Varmora Granito Ltd?

Over the last 52 weeks Varmora Granito Ltd has traded between ₹117.42 and ₹163.77 as of 4 Nov 2026.

### What is the Return on Equity (ROE) of Varmora Granito Ltd?

Varmora Granito Ltd reported a return on equity of 8.05%. Its debt-to-equity ratio is 0.47.

## Company Information

Varmora Granito Limited, incorporated in 2003, manufactures and markets ceramic and vitrified tiles, including Glazed Vitrified Tiles (GVT), Polished Vitrified Tiles (PVT), and ceramic tiles.

- **Listed:** 29 Sep 2026
- **Face Value:** ₹2

---

Negative figures use an ASCII hyphen-minus (-) so they parse as numbers. Amounts are in Indian rupees; "Cr" is crore (10 million). Dates are Indian Standard Time.

Financial statements, shareholding and filings are as reported by the company. Price, volume and 52-week levels are market data. Technical indicators are computed by Tapetide from daily prices. The Tapetide Score is Tapetide’s own analysis. Analyst ratings and forecasts are the published estimates of third-party analysts, not company statements. The AI sections are generated text.

For research and information only, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Generated 5 Nov 2026, 07:01 IST.