Ahmedabad: Varmora Granito’s net profit surged 498% year on year to Rs 53.7 crore in the first half of FY27, as a shift towards premium tiles boosted margins despite modest revenue growth. The Morbi-based tile maker has been moving away from ceramic and polished vitrified tiles (PVT) towards glazed vitrified tiles (GVT) over the past two years.
Revenue from operations rose 27% sequentially to Rs 399 crore in Q2 FY27, while net profit increased to Rs 44 crore from Rs 9.7 crore in Q1. The company raised prices by 18-19%, depending on the product category, to offset higher fuel costs. Average gas costs eased to Rs 80.5 per standard cubic metre in Q2 from Rs 84.7 in Q1. The company’s first results since its Sept 29 listing follow an initial public offering of Rs 708 crore. The company added four exclusive brand outlets during the first half, taking the total to 309, alongside more than 2,000 multi-brand outlets. It also launched 508 new designs during the period.
These increases fully recovered the additional gas costs, according to its earnings release. Varmora said proceeds from the fresh issue were used to repay debt, strengthening its balance sheet and reducing future interest costs. The Sept quarter also saw a recovery after a gas-price disruption affected production in Morbi during the June quarter. Varmora expects exports to improve in Q3 and strengthen further in Q4. The company intends to focus on branded exports rather than white-label business. He also cited container availability and logistical constraints among the challenges facing exporters. You Can Also Check: Gold Rate in Ahmedabad | Silver Rate in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad | Ahmedabad AQI | Weather in Ahmedabad | Petrol Price in Ahmedabad | Diesel Price in Ahmedabad | CNG Price in Ahmedabad | LPG Price in Ahmedabad