Varmora Granito IPO: Company Insights, Financials & Growth Outlook
Varmora Granito was founded in 2003 and started as a manufacturer of ceramic and vitrified tiles. Moreover, the company provides a wide range of tiles, including glazed vitrified tiles (GVT), polished vitrified tiles (PVT), and ceramic tiles. Furthermore, It sells its products through both B2C and B2B channels and has a portfolio of more than 3,500 products.
Apart from that, if we talk about the company’s competitive strengths:
- Wide range of premium products to meet different customer needs.
- Experienced management team led by the founder, with an independent Board and focus on sustainability.
- Strong distribution network across India with its own brand outlets.
IPO Details:
IPO Open & Closing Date: September 22, 2026 to September 24, 2026
IPO Type: Book Build Issue
Total Issue Size: Around ₹708.02 crore
Fresh Issue: ₹320 crore
Offer for Sale (OFS): Up to 2,62,17,634 equity shares
Face Value: ₹2 per share
Price Band: ₹140 to ₹148 per share
- Debt Repayment: ₹245 crore will be used to repay or partially repay outstanding loans and accrued interest of the company and its subsidiaries.
- General Corporate Purposes: The remaining funds will be allocated for general corporate purposes.
Now, let’s take a closer look at the company’s financial performance to understand its business better.
Key Factors Supporting the Valuation:
Financial Highlights
- Revenue: Increased from ₹1,472.58 crore in 2024 to ₹1,562.53 crore in 2026, showing steady growth.
- PAT: Fell to ₹30.77 crore in 2025 but recovered to ₹55.09 crore in 2026, the highest in the period.
- ROE: The ROE was 6.80%
- ROCE: The ROCE was 9.89%
Disclaimer:
The information provided in this article is for educational and informational purposes only. It is based on publicly available information and should not be considered investment advice, a recommendation, or a guarantee of future returns. Readers should conduct their own research and consult a qualified financial advisor before making any investment decisions.
