Varmora Granito share price, P/E, ROE & financials

Varmora Granito (VARMORA) had a P/E of 27.1× on 6 Nov 2026, below the industry P/E of 27.3×, and the shares are 16% below their 52-week high. It earns ROCE of 11% and ROE of 8.1%, and sales and net profit grew 4.3% and 6.8% a year over 3 years. Debt is 0.28× equity. It is a small-cap company with a market cap of ₹3,111 Cr, ranked 17th of 58 Building Materials companies by market cap; the shares fell 9.6% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year

Open: ₹129.88
Day high: ₹148.28
Day low: ₹125.00
Prev. close: ₹129.30
Volume: 19 L

Health check

1 good · 4 fair · 1 to check

ReturnsIn line
−9.6% over a year, better than 4 of 7 peers.
Price tagIn line
P/E 27.1 vs industry 27.3.
GrowthSlow
Sales +4.3%, profit +6.8% a year over 3 years.
ProfitabilityAverage
ROCE 11.0% vs peer median 10.2%.
Balance sheetFair
Debt 0.28× equity, interest covered 3.1×, Piotroski 8 of 9.
Red flagsNone found
No warning signs in the headline numbers.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Building Materials

57 listed peers. Screen the industry

Small cap

₹3,111 Cr, #17 of 58 in its industry by size.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months to Sep 2026: sales ₹1,535 Cr · profit ₹108 Cr

Market cap: ₹3,111 Cr; Small cap
P/E: 27.1; Industry 27.3
Price to book: 2.39; Peers 2.12
Dividend yield: 0.00%
ROE: 8.1%; Peers 4.9%
ROCE: 11.0%; Peers 10.2%
Debt to equity: 0.28; Debt ₹327 Cr
EPS (TTM): ₹5.07; Face value ₹2
OPM (TTM): 10.6%; Net margin 7.0%
Sales growth: +8.8%; Latest quarter vs a year ago
Profit growth: +175.5%; Latest quarter vs a year ago
Price to sales: 2.03; EV/EBITDA 12.9

Strengths

Quarterly profit up 175.5% on a year ago.

No obvious red flags in the headline numbers.

Derived automatically from reported figures. Not a recommendation.

About Varmora Granito

Varmora Granito Limited manufactures stones, tiles, bathware, sanitaryware, tile adhesives, and other application equipment accessories. Its product portfolio includes stock-keeping units for tiles, such as GVT and technical products, and PVT and ceramic tiles. The company offers its products for applications in residential and commercial spaces. It serves clients through a network of brand outlets, B2C retail channels, B2B channels, direct sales, and…

Headquarters: Ahmedabad
Employees: 1,153
Sector: Basic Materials
ISIN: INE0M5301040
Website: varmora.com

Price range

52 weeks

₹117.42₹163.77

Today

₹125.00₹148.28

Avg volume (3M): 35.2 L
1-year return: minus 9.6%
From 52-week high: minus 15.9%

Peers · Building Materials

Capital-heavy industry columns

Compare with peers Screen the whole industry

Company
ULTRACEMCOUltraTech Cement	12,450.00	plus 1.63%	3,66,110	41.6	22.8	11.8%	19.1%	0.38	11.9%	plus 3.6%
GRASIMGrasim Industries	3,227.00	minus 0.02%	2,18,884	38.5	16.8	4.0%	15.0%	1.35	14.3%	plus 12.0%
AMBUJACEMAmbuja Cements	390.60	plus 0.67%	97,057	34.7	14.6	4.6%	14.3%	0.01	–	minus 31.6%
SHREECEMShree Cement	25,100.00	plus 0.82%	90,563	57.2	18.0	10.2%	20.1%	0.09	5.7%	minus 9.8%
JKCEMENTJ.K. Cement	5,239.80	minus 0.20%	40,487	42.3	19.2	13.3%	15.8%	1.01	12.1%	minus 9.1%
DALBHARATDalmia Bharat	1,470.30	plus 0.27%	27,602	56.3	9.6	7.0%	16.5%	0.57	3.0%	minus 28.5%
ACCACC	1,236.20	plus 0.77%	23,214	26.4	7.9	10.4%	8.7%	0.02	–	minus 33.1%
VARMORAVarmora Granito	137.65	plus 6.46%	3,111	27.1	17.4	11.0%	10.6%	0.28	4.3%	minus 9.6%
Median of 7 peers	–	0.67%	90,563	41.6	16.8	10.2%	15.8%	0.38	11.9%	−9.8%

Quarterly results

Consolidated, ₹ crore

SalesSelect a row below to chart it

Jun 25	Sep 25	Jun 26	Sep 26
325	367	315	399
–	–	minus 2.9%	+8.8%
303	332	287	334
21.7	34.8	28.5	64.6
6.7%	9.5%	9.0%	16.2%
7.9	22.8	4.2	3.7
10.6	9.7	7.1	6.8
26.3	26.6	11.5	10.9
–	–	–	0.6
−7.3	21.3	14.1	51.2
25.8%	32.4%	31.2%	14.2%
−4.2	16.5	12.6	45.3
-0.18	0.73	0.62	2.23

Dec 25, Mar 26 not reported by the data source.

Profit & loss

Yearly, ₹ crore

Sales CAGR 3Y: +4.3%
Profit CAGR 3Y: +6.8%
EPS CAGR 3Y: +6.8%
ROE: 8.1%

Net profitSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
1,324	1,421	1,434	1,502
–	+7.4%	+0.9%	+4.7%
1,191	1,291	1,250	1,307
133	130	184	196
10.1%	9.2%	12.8%	13.0%
35.9	22.4	15.1	23.8
40.2	27.6	41.1	37.1
56.2	61.6	119	106
12.1	−0.3	−1.1	0.3
84.8	63	37.7	76.6
35.1%	28.7%	18.3%	28.1%
51	44.2	35.2	62.1
–	minus 13.3%	minus 20.2%	+76.1%
2.25	1.95	1.56	2.75

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore

Total assetsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
15.4	42	42.4	42.4
634	644	688	762
277	429	521	377
338	362	339	329
1,264	1,476	1,590	1,510
335	712	673	609
5.1	8.5	12	31.4
0.7	0.7	0.8	0.8
225	92.2	82.1	81.9
698	663	822	787
1,264	1,476	1,590	1,510

Cash flow

Yearly, ₹ crore

Cash from operationsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
−10.2	88.3	63.2	234
−83.3	−337	−120	−46
290	115	46.6	−188
197	−133	−10.1	−0.2
−20.2	−349	−112	−33.8
−30.4	−261	−49	200

Shareholding pattern

Source: NSE filings

47.0%

promoters

Promoters47.04%
Public52.96%
As of 30 Sep 2026

Quarter	Split	Promoters	Public	Promoter change
30 Sep 2026		47.04%	52.96%	0.00
28 Sep 2026		47.04%	52.96%	–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you