India's Richest People 2026 edition · 1 director · Source: Hurun India
- #355 Chandu Virani ₹10,500 Cr
Market Cap
₹2,759 Cr
VARMORA · NSE
Share Price
₹121.17
-0.73% today
Revenue
₹1,512 Cr
FY 2025-26 · +4.6% YoY
EBITDA
₹171 Cr
Margin 11.3%
Net Profit
₹61.92 Cr
FY 2025-26 · +69.5% YoY
P/E (TTM)
25.6x
P/B 2.4x
ROE
7.2%
ROCE 9.3%
Debt / Equity
0.58
Interest cover 60.9x
About Varmora Granito Limited
Data last updated:
Varmora Granito Limited is a public limited company based in Rajkot, Gujarat, India. It operates in the ceramics segment of the manufacturing sector. It was incorporated on 18 November 2003 and has been in existence for over 23 years.
Its director Chandu Virani is #355 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U26914GJ2003PLC043194. Its GSTIN is 24AABCV7523M1Z3 (Gujarat). The company holds 13 GST registrations, of which 4 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 544942 and NSE: VARMORA.
The company has an authorised share capital of ₹452.15 Cr and a paid-up capital of ₹40.33 Cr. It is led by directors including Bhavesh Vallabhdas Varmora (Managing Director) and Sandhya Maulik Patel.
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 8 – A National Highway At Dhuva Tal. Wankaner, Rajkot, Gujarat, India – 363641.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹1,512.46 Cr, a growth of 4.6% compared to the previous year. For the same year it recorded a net profit of ₹61.92 Cr (net margin 4.1%) and EBITDA of ₹170.71 Cr (EBITDA margin 11.3%). The net worth stands at ₹806.03 Cr (up 10.1% YoY). Total assets are valued at ₹1,209.17 Cr (down 7.3% YoY).
The company has about 281 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Varmora Granito. As per MCA filings, the company has open charges of ₹975.09 Cr and satisfied charges of ₹84.68 Cr on record. Court records list 140 cases involving the company, including 94 filed by the company and 46 filed against it; 28 cases are pending. The company has 26 deals on record (16 secondary share transfers, 7 funding rounds, 2 rights issues), with disclosed funding of ₹371.24 Cr; the latest was in September 2026. Its 10 peer companies in the Manufacturing industry (Ceramics, Sanitaryware and Tiles), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products) are compared by revenue, 5 larger and 5 smaller; the largest is Roca Bathroom Products Private Limited with revenue of ₹1,717.09 Cr. The company has 10 MSME Form 1 returns on record between 2019 and 2024, listing 726 overdue payments to 24 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website varmora.com.
Company details
CIN U26914GJ2003PLC043194
Registration Number 043194
Incorporation Date 18 November 2003
ROC Ahmedabad
Listing Status Listed - Listed on NSE (VARMORA); Listed on BSE (544942)
Company Status Active
Date of Last AGM 29 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
CIN history
Varmora Granito has one previous CIN (Corporate Identification Number): U26914GJ2003PTC043194. The current CIN is U26914GJ2003PLC043194, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U26914GJ2003PLC043194 | Current |
| U26914GJ2003PTC043194 | Previous |
Key People
Bhavesh Vallabhdas Varmora Managing Director Sandhya Maulik Patel Director Pramodkumar Parsotambhai Patel Director Recognitions & Rankings of Varmora Granito
Contact details
Varmora Granito Limited's registered office is in Rajkot, Gujarat.
- Social Media
- Apps
- Registered Address8 – A National Highway At Dhuva Tal. Wankaner, Rajkot, Gujarat, India – 363641
- IndustryManufacturing, Ceramics, Sanitaryware & Tile
Comprehensive company report
Varmora Granito Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Varmora Granito operates one associated brand: Varmora Granito. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Ceramic flooring tiles are manufactured for construction applications. | varmora.com |
Financials of Varmora Granito Limited
FY 2025-26 filings availableVarmora Granito Limited reported revenue of ₹1,512.46 Cr (up 4.6% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹1,512 Cr
+4.6% YoY
EBITDA
₹171 Cr
+12.6% YoY
Profit After Tax
₹61.92 Cr
+69.5% YoY
Net Worth
₹806 Cr
+10.1% YoY
Total Assets
₹1,209 Cr
-7.3% YoY
Total Debt
₹377 Cr
-27.7% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | 1,512 | 1,446 | 1,435 | 1,335 | 1,056 | 838 |
| Revenue growth | +4.6% | +0.7% | +7.5% | +26.5% | +26.0% | - |
| EBITDA | 171 | 152 | 113 | 116 | 112 | 91.70 |
| EBITDA margin | +11.3% | +10.5% | +7.9% | +8.7% | +10.6% | +11.0% |
| Profit before tax | 76.61 | 37.63 | 63.01 | 84.80 | 68.64 | 53.59 |
| Net profit | 61.92 | 36.54 | 44.09 | 50.82 | 48.37 | 34.62 |
| Net profit margin | +4.1% | +2.5% | +3.1% | +3.8% | +4.6% | +4.1% |
| EPS (₹) | 3.08 | 1.75 | 5.53 | 38.25 | 47.55 | 34.65 |
| Balance sheet | ||||||
| Total assets | 1,209 | 1,304 | 1,179 | 953 | 517 | 436 |
| Net worth | 806 | 732 | 688 | 651 | 228 | 194 |
| Total debt | 377 | 521 | 428 | 275 | 229 | 197 |
| Cash & bank | 115 | 115 | 98.32 | 237 | 36.29 | 25.60 |
| Net working capital | 508 | 559 | 393 | 543 | 226 | 187 |
| Cash flow | ||||||
| Cash from operations | 234 | 63.21 | 88.29 | (10.18) | 67.55 | 115 |
| Cash from investing | (45.97) | (120) | (337) | (83.31) | (74.70) | (96.79) |
| Cash from financing | (188) | 46.62 | 115 | 290 | 16.58 | (0.92) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 |
|---|---|---|---|---|---|---|
| Revenue | 399 | 315 | 453 | 368 | 367 | 325 |
| Revenue growth (YoY) | +8.8% | -2.9% | - | - | - | - |
| Other income | 4.25 | 4.51 | 17.91 | 2.68 | 22.82 | 7.88 |
| EBITDA | 64.64 | 28.24 | 70.77 | 43.40 | 34.80 | 21.75 |
| EBITDA margin | +16.2% | +9.0% | +15.6% | +11.8% | +9.5% | +6.7% |
| Depreciation | 10.89 | 11.50 | 26.41 | 26.65 | 26.64 | 26.28 |
| Interest | 6.78 | 7.13 | 9.61 | 9.45 | 9.72 | 10.62 |
| Profit before tax | 51.22 | 14.12 | 52.66 | 9.98 | 21.26 | (7.27) |
| Tax | 7.27 | 4.41 | 14.11 | 2.41 | 6.88 | (1.87) |
| Net profit | 43.95 | 9.71 | 38.55 | 7.57 | 14.38 | (5.40) |
| EPS (₹) | 2.23 | 0.63 | 1.98 | 0.00 | 0.82 | (0.21) |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | 1,362 | 1,313 | 1,284 | 1,214 | 873 | 706 |
| Revenue growth | +3.7% | +2.2% | +5.8% | +39.1% | +23.6% | - |
| EBITDA | 147 | 128 | 81.19 | 76.07 | 62.52 | 41.39 |
| EBITDA margin | +10.8% | +9.8% | +6.3% | +6.3% | +7.2% | +5.9% |
| Profit before tax | 80.38 | 43.09 | 57.80 | 71.38 | 55.23 | 30.42 |
| Net profit | 58.23 | 30.03 | 42.58 | 46.63 | 41.11 | 22.62 |
| Net profit margin | +4.3% | +2.3% | +3.3% | +3.8% | +4.7% | +3.2% |
| EPS (₹) | 2.90 | 1.43 | 5.30 | 15.09 | 41.14 | 22.65 |
| Balance sheet | ||||||
| Total assets | 1,119 | 1,190 | 1,077 | 825 | 249 | 195 |
| Net worth | 800 | 729 | 691 | 646 | 182 | 141 |
| Total debt | 297 | 421 | 333 | 160 | 62.31 | 51.29 |
| Cash & bank | 113 | 112 | 94.73 | 230 | 28.83 | 21.58 |
| Net working capital | 485 | 525 | 368 | 518 | 113 | 62.86 |
| Cash flow | ||||||
| Cash from operations | 206 | 45.47 | 66.38 | (4.86) | 10.08 | 65.74 |
| Cash from investing | (44.86) | (104) | (338) | (107) | (8.06) | (30.28) |
| Cash from financing | (161) | 48.43 | 138 | 308 | 7.05 | (18.40) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Sep 2025 | Jun 2025 |
|---|---|---|---|---|---|
| Revenue | 387 | 296 | 405 | 331 | 286 |
| Revenue growth (YoY) | +17.0% | +3.7% | - | - | - |
| Other income | 4.30 | 5.52 | 16.73 | 23.56 | 8.10 |
| Total expenses | 348 | 269 | 344 | 300 | 271 |
| EBITDA | 39.18 | 27.73 | 61.37 | 30.46 | 14.88 |
| EBITDA margin | +10.1% | +9.4% | +15.1% | +9.2% | +5.2% |
| Depreciation | 8.14 | 8.07 | 21.95 | 22.12 | 21.79 |
| Interest | 5.52 | 5.79 | 8.12 | 7.99 | 8.81 |
| Profit before tax | 29.82 | 19.39 | 48.03 | 23.91 | (7.62) |
| Tax | 6.54 | 4.67 | 14.25 | 6.92 | (1.88) |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 31 Oct 2026
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 |
|---|---|---|---|---|---|---|
| Revenue | 399 | 315 | 453 | 368 | 367 | 325 |
| Revenue growth (YoY) | +8.8% | -2.9% | - | - | - | - |
| Other income | 4.25 | 4.51 | 17.91 | 2.68 | 22.82 | 7.88 |
| EBITDA | 64.64 | 28.24 | 70.77 | 43.40 | 34.80 | 21.75 |
| EBITDA margin | +16.2% | +9.0% | +15.6% | +11.8% | +9.5% | +6.7% |
| Depreciation | 10.89 | 11.50 | 26.41 | 26.65 | 26.64 | 26.28 |
| Interest | 6.78 | 7.13 | 9.61 | 9.45 | 9.72 | 10.62 |
| Profit before tax | 51.22 | 14.12 | 52.66 | 9.98 | 21.26 | (7.27) |
| Tax | 7.27 | 4.41 | 14.11 | 2.41 | 6.88 | (1.87) |
| Net profit | 43.95 | 9.71 | 38.55 | 7.57 | 14.38 | (5.40) |
| EPS (₹) | 2.23 | 0.63 | 1.98 | 0.00 | 0.82 | (0.21) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Revenue | 1,512 | 1,446 | 1,435 | 1,335 | 1,056 | 838 |
| Revenue growth | +4.6% | +0.7% | +7.5% | +26.5% | +26.0% | - |
| Other income | 51.29 | 47.90 | 40.47 | 66.98 | 8.26 | 5.47 |
| Total expenses | 1,342 | 1,294 | 1,322 | 1,219 | 943 | 746 |
| Employee cost | 112 | 109 | 97.51 | 90.92 | 106 | 78.64 |
| EBITDA | 171 | 152 | 113 | 116 | 112 | 91.70 |
| EBITDA margin | +11.3% | +10.5% | +7.9% | +8.7% | +10.6% | +11.0% |
| Depreciation | 106 | 119 | 61.61 | 56.15 | 35.15 | 28.36 |
| Interest | 39.40 | 42.49 | 29.06 | 41.73 | 16.81 | 15.22 |
| Profit before tax | 76.61 | 37.63 | 63.01 | 84.80 | 68.64 | 53.59 |
| Tax | 21.53 | 6.87 | 18.10 | 29.75 | 18.69 | 13.98 |
| Net profit | 61.92 | 36.54 | 44.09 | 50.82 | 48.37 | 34.62 |
| Net profit margin | +4.1% | +2.5% | +3.1% | +3.8% | +4.6% | +4.1% |
| EPS (₹) | 3.08 | 1.75 | 5.53 | 38.25 | 47.55 | 34.65 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Equity & liabilities | ||||||
| Share capital | 40.33 | 40.33 | 39.97 | 13.32 | 26.99 | 40.32 |
| Reserves & surplus | 766 | 692 | 630 | 620 | 201 | 153 |
| Shareholders' funds (net worth) | 806 | 732 | 688 | 651 | 228 | 194 |
| Minority interest | 4.19 | 11.15 | 15.62 | 17.90 | 44.47 | 41.14 |
| Secured loans | 291 | 426 | 356 | 186 | 211 | 145 |
| Unsecured loans | 86.08 | 95.31 | 71.37 | 88.98 | 18.12 | 52.32 |
| Total debt | 377 | 521 | 428 | 275 | 229 | 197 |
| Total liabilities | 1,209 | 1,304 | 1,179 | 953 | 517 | 436 |
| Assets | ||||||
| Gross block | 952 | 937 | 870 | 439 | 260 | 380 |
| Net block | 617 | 706 | 752 | 382 | 252 | 178 |
| Capital work in progress | 27.48 | 10.19 | 2.73 | 2.78 | 4.64 | 32.00 |
| Investments | 52.88 | 33.52 | 32.17 | 28.59 | 27.39 | 20.01 |
| Inventories | 248 | 286 | 190 | 189 | 117 | 78.44 |
| Sundry debtors | 383 | 382 | 333 | 361 | 268 | 244 |
| Cash & bank balances | 115 | 115 | 98.32 | 237 | 36.29 | 25.60 |
| Loans & advances | 51.17 | 45.57 | 46.14 | 44.55 | 35.96 | 23.82 |
| Total current assets | 797 | 829 | 668 | 832 | 457 | 372 |
| Total current liabilities | 289 | 270 | 275 | 289 | 231 | 185 |
| Net working capital | 508 | 559 | 393 | 543 | 226 | 187 |
| Total assets | 1,209 | 1,304 | 1,179 | 953 | 517 | 436 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Opening cash | 82.10 | 92.22 | 225 | 28.91 | 19.48 | 1.78 |
| Net cash from operating activities | 234 | 63.21 | 88.29 | (10.18) | 67.55 | 115 |
| Net cash from investing activities | (45.97) | (120) | (337) | (83.31) | (74.70) | (96.79) |
| Net cash from financing activities | (188) | 46.62 | 115 | 290 | 16.58 | (0.92) |
| Net change in cash | (0.19) | (10.11) | (133) | 197 | 9.44 | 17.77 |
| Closing cash | 115 | 115 | 98.32 | 237 | 36.29 | 25.60 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Growth | ||||||
| Sales growth | +4.6% | +0.7% | +7.5% | +26.5% | +26.0% | - |
| EBITDA growth | +12.6% | +33.9% | -2.2% | +3.0% | +22.5% | - |
| PBT growth | +103.6% | -40.3% | -25.7% | +23.5% | +28.1% | +9997.0% |
| Net income growth | +69.5% | -17.1% | -13.2% | +5.1% | +39.7% | - |
| Revenue CAGR (3Y) | +4.3% | +11.1% | +19.7% | - | - | - |
| EBITDA CAGR (3Y) | +13.8% | +10.5% | +7.3% | - | - | - |
| Profitability & leverage | ||||||
| Net income margin | +3.6% | +2.1% | +3.1% | +4.1% | +4.7% | +4.7% |
| Return on capital employed | +9.3% | +6.5% | +8.8% | +18.0% | +19.7% | +18.5% |
| Return on net worth | +7.2% | +4.3% | +6.7% | +12.8% | +26.7% | +27.2% |
| Debt / equity | 0.58 | 0.67 | 0.52 | 0.57 | 1.01 | 1.12 |
| Long-term debt / equity | 0.28 | 0.36 | 0.29 | 0.24 | 0.50 | 0.52 |
| Interest cover | 60.88 | 131.87 | 56.32 | 70.08 | 21.78 | 24.03 |
| Efficiency & per share | ||||||
| Fixed asset turnover | 1.60 | 1.60 | 2.19 | 3.82 | 3.30 | 2.35 |
| Inventory turnover | 5.66 | 6.07 | 7.56 | 8.72 | 10.81 | 8.92 |
| Debtors turnover | 3.95 | 4.04 | 4.13 | 4.24 | 4.13 | 3.38 |
| EPS (₹) | 3.08 | 1.75 | 5.53 | 38.25 | 47.55 | 34.65 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 39.98 | 36.31 | 83.84 | 475.76 | 211.05 | 163.49 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Sep 2025 | Jun 2025 |
|---|---|---|---|---|---|
| Revenue | 387 | 296 | 405 | 331 | 286 |
| Revenue growth (YoY) | +17.0% | +3.7% | - | - | - |
| Other income | 4.30 | 5.52 | 16.73 | 23.56 | 8.10 |
| Total expenses | 348 | 269 | 344 | 300 | 271 |
| EBITDA | 39.18 | 27.73 | 61.37 | 30.46 | 14.88 |
| EBITDA margin | +10.1% | +9.4% | +15.1% | +9.2% | +5.2% |
| Depreciation | 8.14 | 8.07 | 21.95 | 22.12 | 21.79 |
| Interest | 5.52 | 5.79 | 8.12 | 7.99 | 8.81 |
| Profit before tax | 29.82 | 19.39 | 48.03 | 23.91 | (7.62) |
| Tax | 6.54 | 4.67 | 14.25 | 6.92 | (1.88) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Revenue | 1,362 | 1,313 | 1,284 | 1,214 | 873 | 706 |
| Revenue growth | +3.7% | +2.2% | +5.8% | +39.1% | +23.6% | - |
| Other income | 53.89 | 51.09 | 38.73 | 64.84 | 6.44 | 2.14 |
| Total expenses | 1,215 | 1,185 | 1,203 | 1,138 | 810 | 665 |
| Employee cost | 105 | 103 | 90.52 | 84.03 | 50.09 | 39.10 |
| EBITDA | 147 | 128 | 81.19 | 76.07 | 62.52 | 41.39 |
| EBITDA margin | +10.8% | +9.8% | +6.3% | +6.3% | +7.2% | +5.9% |
| Depreciation | 87.98 | 101 | 42.75 | 35.48 | 9.26 | 8.08 |
| Interest | 32.58 | 34.77 | 19.37 | 34.05 | 4.47 | 5.03 |
| Profit before tax | 80.38 | 43.09 | 57.80 | 71.38 | 55.23 | 30.42 |
| Tax | 21.97 | 14.24 | 15.45 | 24.75 | 14.12 | 7.80 |
| Net profit | 58.23 | 30.03 | 42.58 | 46.63 | 41.11 | 22.62 |
| Net profit margin | +4.3% | +2.3% | +3.3% | +3.8% | +4.7% | +3.2% |
| EPS (₹) | 2.90 | 1.43 | 5.30 | 15.09 | 41.14 | 22.65 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Equity & liabilities | ||||||
| Share capital | 40.33 | 40.33 | 39.97 | 30.90 | 26.99 | 26.99 |
| Reserves & surplus | 759 | 689 | 634 | 615 | 155 | 114 |
| Shareholders' funds (net worth) | 800 | 729 | 691 | 646 | 182 | 141 |
| Secured loans | 243 | 359 | 286 | 114 | 59.19 | 37.40 |
| Unsecured loans | 54.87 | 61.56 | 47.91 | 45.85 | 3.12 | 13.89 |
| Total debt | 297 | 421 | 333 | 160 | 62.31 | 51.29 |
| Total liabilities | 1,119 | 1,190 | 1,077 | 825 | 249 | 195 |
| Assets | ||||||
| Gross block | 733 | 718 | 666 | 226 | 144 | 136 |
| Net block | 474 | 545 | 588 | 192 | 58.93 | 56.23 |
| Capital work in progress | 26.21 | 10.19 | 2.38 | 11.86 | 1.15 | 0.04 |
| Investments | 115 | 101 | 101 | 86.33 | 72.81 | 72.13 |
| Inventories | 210 | 236 | 146 | 139 | 35.42 | 25.45 |
| Sundry debtors | 328 | 338 | 295 | 318 | 212 | 193 |
| Cash & bank balances | 113 | 112 | 94.73 | 230 | 28.83 | 21.58 |
| Loans & advances | 85.29 | 77.62 | 81.09 | 72.96 | 43.59 | 19.33 |
| Total current assets | 736 | 764 | 617 | 761 | 320 | 260 |
| Total current liabilities | 251 | 238 | 248 | 242 | 207 | 197 |
| Net working capital | 485 | 525 | 368 | 518 | 113 | 62.86 |
| Total assets | 1,119 | 1,190 | 1,077 | 825 | 249 | 195 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Opening cash | 81.07 | 91.14 | 225 | 28.81 | 18.19 | 1.12 |
| Net cash from operating activities | 206 | 45.47 | 66.38 | (4.86) | 10.08 | 65.74 |
| Net cash from investing activities | (44.86) | (104) | (338) | (107) | (8.06) | (30.28) |
| Net cash from financing activities | (161) | 48.43 | 138 | 308 | 7.05 | (18.40) |
| Net change in cash | 0.09 | (10.07) | (134) | 196 | 9.07 | 17.06 |
| Closing cash | 113 | 112 | 94.73 | 230 | 28.83 | 21.58 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Growth | ||||||
| Sales growth | +3.7% | +2.2% | +5.8% | +39.1% | +23.6% | - |
| EBITDA growth | +14.7% | +57.9% | +6.7% | +21.7% | +51.1% | - |
| PBT growth | +86.5% | -25.5% | -19.0% | +29.2% | +81.6% | +9997.0% |
| Net income growth | +93.9% | -29.5% | -8.7% | +13.4% | +81.7% | - |
| Revenue CAGR (3Y) | +3.9% | +14.6% | +22.1% | - | - | - |
| EBITDA CAGR (3Y) | +24.6% | +27.0% | +25.2% | - | - | - |
| Profitability & leverage | ||||||
| Net income margin | +4.3% | +2.2% | +3.3% | +3.8% | +4.7% | +3.2% |
| Return on capital employed | +9.8% | +6.9% | +8.1% | +19.6% | +26.9% | +18.6% |
| Return on net worth | +7.6% | +4.1% | +6.3% | +11.5% | +28.5% | +20.1% |
| Debt / equity | 0.47 | 0.53 | 0.37 | 0.27 | 0.35 | 0.48 |
| Long-term debt / equity | 0.23 | 0.29 | 0.19 | 0.06 | 0.13 | 0.19 |
| Interest cover | 55.15 | 129.88 | 50.39 | 83.89 | 8.39 | 15.10 |
| Efficiency & per share | ||||||
| Fixed asset turnover | 1.88 | 1.90 | 2.88 | 6.56 | 6.23 | 5.48 |
| Inventory turnover | 6.10 | 6.86 | 9.00 | 13.89 | 28.68 | 24.72 |
| Debtors turnover | 4.09 | 4.15 | 4.19 | 4.58 | 4.31 | 3.55 |
| EPS (₹) | 2.90 | 1.43 | 5.30 | 15.09 | 41.14 | 22.65 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 39.65 | 36.17 | 84.31 | 208.99 | 165.11 | 123.96 |
To see the full year-wise statements and ratios of Varmora Granito Limited, buy the company report.
Board of directors of Varmora Granito Limited
Varmora Granito has 10 current directors and 20 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sandhya Maulik Patel Also directs: Hester Biosciences Limited, Atvantic Finechem Private Limited | Director | 10 Sep 2024 | 2 Years 1 Months | Current |
| Pramodkumar Parsotambhai Patel | Director | 27 May 2022 | 4 Years 5 Months | Current |
| Chandubhai Popatbhai Virani Also directs: Balaji Wafers Private Limited | Director | 10 Sep 2024 | 2 Years 1 Months | Current |
| Hiren Ramanbhai Varmora | Director | 27 May 2022 | 4 Years 5 Months | Current |
| Bhavesh Vallabhdas Varmora Also directs: Varmora Sanitarywares Private Limited, Simola Tiles LLP, Cresta Business India LLP and 3 more | Managing Director | 27 May 2022 | 4 Years 5 Months | Current |
| Aamir Zeb Also directs: Valura Capital Advisors LLP, Valura Capital Management LLP, Strata Geosystems (India) Private Limited and 4 more | Nominee Director | 19 Mar 2024 | 2 Years 7 Months | Current |
Showing 6 of 10 current directors. View all directors
Peer comparison
Varmora Granito Limited is compared with the 10 companies closest to it by revenue in the Manufacturing industry (Ceramics, Sanitaryware and Tiles), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Roca Bathroom Products Private Limited | ₹1,717.09 Cr (FY 2024) | -1.0% | Chennai, Tamil Nadu, India | |||
| Simpolo Vitrified Private Limited | ₹1,695.83 Cr (FY 2024) | 18.0% | Ahmedabad, Gujarat, India | |||
| Vesuvius India Ltd | ₹1,638.03 Cr (FY 2023) | 20.0% | Kolkata, West Bengal, India | |||
| Vidres India Ceramics Private Limited | ₹1,574.64 Cr (FY 2025) | 9.0% | Ahmedabad, Gujarat, India | |||
| Asian Granito India Limited | ₹1,567.7 Cr (FY 2025) | 2.0% | Ahmedabad, Gujarat, India | |||
| Varmora Granito Limitedthis company | ₹1,512.46 Cr (FY 2026) | ₹61.92 Cr | 4.1% | 4.6% | Rajkot, Gujarat, India | |
| Classic Marble Company Private Limited | ₹923.58 Cr (FY 2025) | -1.0% | Mumbai, Maharashtra, India | |||
| Pokarna Engineered Stone Limited | ₹921.78 Cr (FY 2025) | 40.0% | Telangana, India | |||
| Icon Granito Private Limited | ₹854.56 Cr (FY 2025) | 32.0% | Morbi, Gujarat, India | |||
| Carysil Limited | ₹825.4 Cr (FY 2025) | 20.0% | Mumbai, Maharashtra, India | |||
| Sunhearrt Ceramix Private Limited | ₹764.94 Cr (FY 2024) | 1.0% | At Dhuva, Gujarat, India |
To see the full peer comparison of Varmora Granito Limited, buy the company report.
Charges & borrowings
Open charges
₹975.09 Cr
Satisfied charges
₹84.68 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 14 Aug 2025 | 101163730 | Hdfc Bank Limited | ₹35 Cr | Open | |
| 06 Dec 2024 | 101016083 | Hdfc Bank Limited | ₹35 Lakh | Open | |
| 13 May 2024 | 100920092 | State Bank of India | ₹99.83 Cr | Open | |
| 11 Mar 2024 | 100895809 | Hdfc Bank Limited | ₹30 Lakh | Open | |
| 06 Oct 2023 | 100799192 | Others | ₹134.75 Cr | Open |
To see the full charge records of Varmora Granito Limited, buy the company report.
Total charge records: 21 View all charges
Deals & funding
Varmora Granito Limited has 26 deals on record (16 secondary share transfers, 7 funding rounds, 2 rights issues), with disclosed funding of ₹371.24 Cr; the latest was in September 2026.
Total deals
26
Secondary share transfers
16
Funding rounds
7
Rights issues
2
IPO
1
Disclosed funding
₹371.24 Cr
Deals on record (5 of 26)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2026 | IPO | ₹708.02 Cr | Investors: Goldman Sachs Public Market Fund, Bharti Axa Life Insurance, Societe Generale Seller: The Carlyle Group |
| Aug 2023 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: 4 individuals |
| May 2023 | Secondary share transfer | Undisclosed | Buyer: Steer Advisory Services Private Limited Seller: 4 individuals |
| Mar 2023 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Laxminarayan Trading Company |
| Jan 2023 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
To see the full deal history of Varmora Granito Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Varmora Granito Limited has 140 court cases on record: 94 filed by Varmora Granito, 46 filed against it. 28 cases are pending and 112 are disposed.
Total cases
140
Filed by the company
94
Filed against the company
46
Pending
28
Disposed
112
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 114 | 25 | 25 |
| High courts | 21 | 16 | 2 |
| Supreme Court | 5 | 5 | 1 |
Cases on record (5 of 140)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, MORBI, Gujarat | Court case (CR A) | Filed against the company by Lavia Infra Limited and 1 other | Disposed |
| District court, MORBI, Gujarat | Criminal miscellaneous application | Filed against the company by Lavia Infra Limited and 1 other | Disposed |
| High Court, GUJARAT | Special civil application | Filed against the company by M/S Levita Granito LLP and 161 others | Disposed |
| District court, Ernakulam, Kerala | Execution petition | Filed against the company by an individual | Pending |
| District court, RAJKOT, Gujarat | Court case (AGRMNT-LC) | Filed against the company by an individual | Pending |
To see the full case history of Varmora Granito Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Varmora Granito Limited was last rated by Care on 07 Feb 2023.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 07 Feb 2023 |
To see the full credit ratings and regulatory alerts of Varmora Granito Limited, buy the company report.
MSME payment delays
Varmora Granito Limited has 10 MSME Form 1 returns on record between 2019 and 2024, listing 726 overdue payments to 24 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 24)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Jetco Industries | |||
| Hinal Brass Industries - Jamnagar | |||
| Maruti Hydraulic | |||
| Krishna Digichem | |||
| Prime Polymers |
To see the full MSME payment records of Varmora Granito Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
GST
Varmora Granito has 13 GST registrations: 4 active and 9 cancelled or inactive.
Total GSTINs
13
Active
4
Cancelled / inactive
9
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AABCV7523M1Z3 | Gujarat | Active | 01 Jul 2017 |
| 27AABCV7523M1ZX | Maharashtra | Active | 01 Jul 2017 |
| 29AABCV7523M1ZT | Karnataka | Active | 01 Jul 2017 |
| 06AABCV7523M1Z1 | Haryana | Active | 15 Nov 2023 |
To see the full GST registrations and return filing status of Varmora Granito Limited, buy the company report.
Recent activity
Varmora Granito Limited has 30 board changes on record since 2009: 10 appointments and 20 cessations. The latest: Darshankumar Naranbhai Patel ceased to be Director on 04 Aug 2025.
Filing
Varmora Granito Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Ahmedabad.
AGM
Varmora Granito Limited last Annual general meeting of members was held on 29 Sep 2025 as per latest MCA records.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 35.00 Cr with Charge ID 101163730 was registered on 14 Aug 2025.
Ceased
Darshankumar Naranbhai Patel ceased to be Director.
Appointed
Shital Badshah was appointed as Director.
Appointed
Vivek Vikram Singh was appointed as Director.
Ceased
Amit Jain ceased to be Nominee Director.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.35 Cr with Charge ID 101016083 was registered on 06 Dec 2024.
Appointed
Chandubhai Popatbhai Virani was appointed as Director.
Appointed
Sandhya Maulik Patel was appointed as Director.
Ceased
Hiren Ramanbhai Varmora ceased to be Director.
Charges
A charge with State Bank Of India amounted to Rs. 99.83 Cr with Charge ID 100920092 was registered on 13 May 2024.
54 earlier events are in the company report.
News
Frequently asked questions
Varmora Granito is an active public limited company based in Rajkot, Gujarat, India. The company works in ceramics, within the manufacturing industry. It was incorporated on 18 November 2003 (23+ years old) and is registered under CIN U26914GJ2003PLC043194. Listed on BSE: 544942 and NSE: VARMORA.
Varmora Granito reported revenue of ₹1,512.46 Cr for FY 2025-26 (up 4.6% YoY) based on consolidated financials.
Varmora Granito has 10 current directors:
- Bhavesh Vallabhdas Varmora - Managing Director
- Sandhya Maulik Patel - Director
- Pramodkumar Parsotambhai Patel - Director
- Chandubhai Popatbhai Virani - Director
- Hiren Ramanbhai Varmora - Director
- Aamir Zeb - Nominee Director
- Shital Badshah - Director
- Suryanarayanan Sivaramakrishnan - Director
- Amit Jain - Nominee Director
- Vivek Vikram Singh - Director
The latest financial statements of Varmora Granito on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 29 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Varmora Granito is 24AABCV7523M1Z3, registered in Gujarat. The company has 13 GST registrations in all, of which 4 are active and 9 are cancelled or inactive. Other active GSTINs include 27AABCV7523M1ZX (Maharashtra), 29AABCV7523M1ZT (Karnataka), 06AABCV7523M1Z1 (Haryana).
The CIN (Corporate Identification Number) of Varmora Granito is U26914GJ2003PLC043194. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Varmora Granito is a listed company as per MCA records. Its shares are listed on both BSE (code: 544942) and NSE (symbol: VARMORA).
Varmora Granito has 140 court cases on record: 94 filed by the company and 46 filed against it. 28 are pending. Most are in the district courts.
Varmora Granito was incorporated on 18 November 2003, making it 23+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Varmora Granito has 26 deals on record (16 secondary share transfers, 7 funding rounds, 2 rights issues), with disclosed funding of ₹371.24 Cr; the latest was in September 2026.
The peers of Varmora Granito by revenue are Roca Bathroom Products Private Limited, Simpolo Vitrified Private Limited, Vesuvius India Ltd, Vidres India Ceramics Private Limited, Asian Granito India Limited and 5 more, all in the Manufacturing industry (Ceramics, Sanitaryware and Tiles), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products).
Darshankumar Naranbhai Patel ceased to be Director on 04 Aug 2025. Shital Badshah was appointed as Director on 04 Aug 2025. Vivek Vikram Singh was appointed as Director on 30 Jan 2025. Varmora Granito has 30 board changes on record in total.
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