| Category | Min Lots | Shares | Amount |
|---|---|---|---|
| Retail (sNII) | 1 | 101 | ₹14,948 |
| HNI / NII | 67 | 6767 | ₹10,01,516 |
| Category | Sub (×) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | 1.86× | 2,47,36,010 | 4,46,08,367 | ₹214.12 Cr |
| NII / HNI (Total) | 0.93× | 66,85,594 | 66,85,594 | ₹32.09 Cr |
| Retail Investors | 0.98× | 1,64,17,651 | 1,64,17,651 | ₹78.80 Cr |
| Market Maker * | 1× | — | — | — |
| Total ** | 1.42× | 4,78,39,255 | 6,77,11,612 | ₹325.02 Cr |
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Revenue | 1562.53 | 1492.68 | 1472.58 |
| PAT | 55.09 | 30.77 | 44.94 |
| EBITDA | 221.56 | 198.29 | 150.33 |
| Net Worth | 796.88 | 722.90 | 678.59 |
| Total Assets | 1509.87 | 1589.80 | 1476.16 |
| Reserves | 765.70 | 691.72 | 630.20 |
| Borrowings | 357.95 | 505.16 | 412.89 |
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. The company focuses on premium, technology-driven products, with GVT and technical tiles accounting for around 84% of its tile revenue in Fiscal 2026.
The company operates eight manufacturing facilities in the Morbi cluster of Gujarat, with 81.72% of its revenue in Fiscal 2026 generated from in-house manufactured products. It has also adopted Integrated Stone Technology (IST) through a technology partnership with Italy-based SACMI, supporting its focus on innovative and premium tile products.
Varmora has a wide distribution network comprising 305 exclusive brand outlets and 2,758 multi-brand outlets across India and overseas, along with B2B sales to builders, contractors, developers and government entities.
The company also focuses on sustainability, with 16.22 MW of renewable energy capacity from wind and solar. As of March 2026, it had 1,153 permanent employees.
Key Strength