MarketFriction

Varmora Granito Ltd

NSE VARMORA · BSE 544942
₹134.30 -3.83%
NSE close2026-10-01
52 week range136.54 - 163.77
Market cap₹3,111 Cr.
P/E50.2
IPO 2026 · -9% since Price band 20% Delivery 30.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales8381,0561,3351,4351,4461,512
Expenses7469421,2191,3221,2931,341
Operating Profit92114116113153171
OPM %11%11%9%8%11%11%
Other Income5767404651
Interest151742294239
Depreciation28355662119106
Profit before tax546985633877
Tax %26%27%35%29%18%28%
Net Profit405155453155
EPS in Rs34.6547.5538.255.531.753.08
Dividend Payout %0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%13%4%5%
Compounded Profit Growth%12%7%69%
Stock Price CAGR%%%%
Return on Equity%9%7%8%
Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital101013404040
Reserves153201638648692766
Borrowings227246275428521377
Other Liabilities230291329352332323
Total Liabilities6217481,2561,4671,5851,506
Fixed Assets178252382752706617
CWIP325331027
Investments202729323453
Other Assets390464842680836808
Total Assets6217481,2561,4671,5851,506
Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity11568-108863234
Cash from Investing Activity-97-75-83-337-120-46
Cash from Financing Activity-11729011547-188
Net Cash Flow189197-133-10-0
Free Cash Flow20-4-23-258-40202
CFO/OP137%74%13%96%50%146%
Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1069399859692
Inventory Days6694138112215156
Days Payable119144175114158138
Cash Conversion Cycle53436283154110
Working Capital Days322238364050
ROCE %19%17%9%7%9%

Fundamentals

Market Cap₹ 3,111 Cr.
Current Price₹ 152
Stock P/E50.2
Book Value₹
ROCE9.46 %
ROE8.05 %
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)5%
Compounded Profit Growth (TTM)69%
Consolidated figures.
Valuation
Market capRs 2,745 Cr
Enterprise valueRs 2,955 Cr
P/E (TTM)57.80x
Price to book13.02x
Price to sales2.60x
EV / EBITDA24.50x
EV / EBIT34.58x
EV / sales2.80x
Price to cash flow40.64x
Earnings yield1.73%
Profitability
Operating margin (excl. other income)10.76%
Operating margin (incl. other income)11.43%
EBITDA margin11.43%
Pre-tax margin6.50%
Net profit margin4.50%
ROE25.39%
ROCE20.17%
ROA6.94%
ROIC (approx.)14.78%
Tax rate27.23%
Other income / net worth3.33%
Growth
Sales growth (latest year)26.02%
Profit growth (latest year)37.25%
Per share
EPS (TTM)Rs 2.32
EPS (latest year)Rs 47.55
Book value per shareRs 10.31
Sales per shareRs 51.64
Cash flow per shareRs 3.31
Free cash flow per shareRs 9.88
Efficiency
Asset turnover1.41x
Fixed asset turnover4.19x
Inventory turnover6.67x
Inventory days55 days
Debtor days93 days
Debtors turnover3.94x
Creditor days138 days
Cash conversion cycle110 days
Working capital days50 days
Leverage
Total debtRs 246 Cr
Cash and bankRs 36 Cr
Net debtRs 210 Cr
Debt to equity1.17x
Net debt / EBITDA1.74x
Interest coverage5.08x
Owners' fund to total sources28.17%
Debt to assets32.91%
Cash flow
Cash from Operating Activity (latest year)Rs 68 Cr
Cash from Investing Activity (latest year)Rs -75 Cr
Cash from Financing Activity (latest year)Rs 17 Cr
Net Cash Flow (latest year)Rs 9 Cr
Free cash flow (latest year)Rs 202 Cr
FCFE (approx.: FCF + change in debt)Rs 221 Cr
Cash from ops / profit, 5 years1.87x
Sales to cash flow15.63x
Statement figures
Net sales (TTM)Rs 1,056 Cr
Net sales (latest year)Rs 1,056 Cr
Operating profit excl. other income (latest year)Rs 114 Cr
Other income (TTM)Rs 7 Cr
EBITDA (TTM)Rs 121 Cr
PBDT (TTM)Rs 104 Cr
Profit before tax (TTM)Rs 69 Cr
Tax (latest year)Rs 19 Cr
Net profit (TTM)Rs 47 Cr
Net profit (latest year)Rs 47 Cr
Depreciation (TTM)Rs 35 Cr
Interest (TTM)Rs 17 Cr
Cost of goods sold (latest year)Rs 780 Cr
Total expenditure (latest year)Rs 942 Cr
Total income (latest year)Rs 1,063 Cr
Share capitalRs 10 Cr
ReservesRs 201 Cr
Shareholders' fundsRs 211 Cr
Total assetsRs 748 Cr
Net blockRs 252 Cr
Capital work in progressRs 5 Cr
InvestmentsRs 27 Cr
ReceivablesRs 268 Cr
InventoryRs 117 Cr
Other liabilitiesRs 291 Cr
Shares outstanding (crore)20.44
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
Not enough price history.

Red flags

F-score 7 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

No quarterly results published.

Activity

Compare
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No corporate actions on record.
DateTypeWhat it says
2026-09-29UpdatesDisclosure under Regulation 30(5) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
2026-09-29UpdatesIntimation under Regulation 8(2) of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03