Varmora Granito H1 FY27 PAT Rises 498% YoY to ₹537 Mn; Revenue up 3.3%
RESULTS
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 19 Oct 2026, 11:38 PM IST · BSE ID: 7a114b7f-5560-45eb-86a2-7fd507176476
View Original BSE Filing (PDF)
💡
In Simple Terms
The company reported significantly higher half-year profit after tax and increased revenue, following its recent stock market listing.
🤖 AI Summary
- Varmora Granito reported H1 FY27 Profit After Tax (PAT) of ₹537 mn, a 498% YoY increase.
- H1 FY27 Revenue from Operations stood at ₹7,142 mn, marking a 3.3% YoY growth.
- Q2 FY27 Revenue from Operations increased 9% YoY to ₹3,990 mn, with 27% QoQ growth.
- The company's equity shares were listed on BSE and NSE on September 29, 2026.
- Proceeds from the fresh issue in the IPO were used to repay debt, lowering interest costs.
🔢 Key Numbers — exact figures from BSE filing, not rounded
H1 FY27 Total Income
₹7,224 Mn
0%
H1 FY27 Revenue from Operations
₹7,142 Mn
3%
H1 FY27 EBITDA
₹1,013 Mn
17%
H1 FY27 Profit after Tax (PAT)
₹537 Mn
498%
Q2 FY27 Revenue from Operations
₹3,990 Mn
9%
Q2 FY27 Profit after Tax (PAT)
₹440 Mn
206%
Q1 FY27 Revenue from Operations
₹3,153 Mn
(3%)
Q1 FY27 Profit after Tax (PAT)
₹97 Mn
280%
H1 FY27 Domestic Revenue
₹5,897 mn
9%
H1 FY27 Export Revenue
₹1,245 mn
(18%)
🏢 How This Affects the Company
The company's strategic shift towards premium GVT and Technical Products now contributes 87% of revenue, supporting higher margins. The new manufacturing facility in Tezpur, Assam, is expected to strengthen its market position in the Northeast.
Profit After Tax for H1 FY27 increased significantly to ₹537 mn due to a 498% YoY growth. Debt repayment from IPO proceeds is intended to strengthen the balance sheet and reduce future interest costs, contributing to improved PAT margins.
The company discontinued ceramic tile manufacturing at its Solaris unit to upgrade it for Glazed Vitrified Tiles, aligning with its product portfolio focus. Q1 FY27 operations faced disruption from increased gas prices and plant shutdowns, impacting volumes.
The reliance on gas as a fuel makes the company susceptible to regional conflicts impacting gas prices, as seen in Q1 FY27. However, price increases implemented during the period recovered 100% of higher gas costs, indicating pricing power.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders based on this financial results filing.
👤
Who Is Affected
Shareholders will note the company's first financial results since its IPO on September 29, 2026, showing a substantial 498% YoY PAT increase in H1 FY27 to ₹537 mn. These results reflect the company's performance post-listing and the use of IPO proceeds for debt reduction.
🔍
Management Signal
The management's statements signal a strategic focus on premium products, expanding retail networks in emerging markets, product innovation, and strengthening the balance sheet through debt repayment.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q3 FY27 financial results — assess sustained recovery and margin performance.
Update on Solaris unit GVT upgrade — track progress and commencement of production.
Expansion of retail network — monitor new EBO additions and market penetration.
MEDIUM RISK
Vulnerability to fluctuations in gas prices and international conflicts impacting exports and operational costs.
💡 Investor Takeaway
Varmora Granito reported H1 FY27 Profit After Tax of ₹537 mn, a 498% YoY increase from ₹90 mn in H1 FY26. Revenue from operations for H1 FY27 grew 3.3% YoY to ₹7,142 mn. Q2 FY27 revenue from operations showed a 27% QoQ growth to ₹3,990 mn, recovering from a Q1 gas disruption.
⚖️ Strengths & Concerns
✅ Positives
- H1 FY27 Profit After Tax (PAT) grew by 498% YoY to ₹537 mn, demonstrating strong profitability improvement.
- EBITDA margin for H1 FY27 improved to 14.0% from 12.0% in H1 FY26, reflecting enhanced operational efficiency.
⚠️ Concerns
- Export revenue for H1 FY27 decreased by 18% YoY to ₹1,245 mn, impacted by the West Asia conflict and higher freight costs.
- Q1 FY27 Revenue from Operations saw a YoY decline of (2.9%) to ₹3,153 mn due to industry-wide gas price disruption.
📅 Company Track Record
Varmora Granito Limited recently listed its equity shares on BSE and NSE on September 29, 2026, following an Initial Public Offering of ₹7,080.21 mn. This filing represents the company's first public financial results post-listing, with no prior public financial data available.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What was Varmora Granito's Profit After Tax for H1 FY27?
Varmora Granito's Profit After Tax for H1 FY27 was ₹537 mn, marking a 498% YoY increase from ₹90 mn in H1 FY26.
What was Varmora Granito's Revenue from Operations for H1 FY27?
Varmora Granito reported Revenue from Operations of ₹7,142 mn for H1 FY27, which is a 3.3% YoY growth from ₹6,915 mn in H1 FY26.
How did Varmora Granito's Q2 FY27 Revenue from Operations perform?
Varmora Granito's Q2 FY27 Revenue from Operations stood at ₹3,990 mn, representing a 9% YoY growth and a 27% quarter-on-quarter growth.
When did Varmora Granito's shares list on the exchanges?
Varmora Granito's equity shares were listed on BSE and NSE on September 29, 2026, following its Initial Public Offering.
What was Varmora Granito's EBITDA margin for H1 FY27?
Varmora Granito's EBITDA margin for H1 FY27 was 14.0%, an increase from 12.0% in H1 FY26.
Questions based on this BSE filing only. For information purposes.