Varmora Granito Ltd. (NSE: VARMORA) Q2 FY27 Earnings Update

varmora granito ltd. Varmora Granito delivered robust financial and operational performance for the second quarter of FY27, marking its maiden earnings release following a successful ₹708 crore IPO and exchange listing on September 29, 2026. Financial Highlights (Q2 FY27)Net Profit: Surged by more than 200% year-on-year to ₹44 crore, up from ₹14.4 crore in Q2 FY26. Top-Line Growth: Revenue from operations grew 9% YoY to ₹399 crore, demonstrating a strong 27% sequential recovery from a disrupted Q1. Total income stood at ₹402.6 crore. Operating Profitability: EBITDA increased 19% YoY to ₹68.3 crore. Swift price hikes of 18–19% successfully offset elevated natural gas costs, driving a 226-basis-point expansion in the EBITDA margin to a healthy 17%. H1 FY27 Performance & Cost ManagementFor the first half of FY27, revenue rose 3.3% YoY to ₹714.2 crore, with net profit reaching ₹53.7 crore. The first quarter faced industry-wide headwinds when Morbi-based tile plants shut down due to geopolitical-linked gas price spikes. However, average gas costs eased sequentially in Q2 to ₹80.53 per scm, allowing the company to retain its pricing power and drive margin expansion. While domestic revenue grew 9% YoY in H1 (accounting for 83% of the total), exports contracted 18% due to elevated Gulf freight costs. Strategic & Operational DevelopmentsPremiumization: High-margin Glazed Vitrified Tiles (GVT) and technical products now account for 87% of H1 revenue, growing 9% ***** Expansion: Production commenced at the Allemby Ceramics facility in Tezpur, Assam—the first major tile manufacturing unit in Northeast India.