5449422026-07-012026-09-305449422026-09-305449422026-03-315449422026-04-012026-09-305449422026-07-012026-09-30in-capmkt:OtherExpenses1Member5449422026-04-012026-09-30in-capmkt:OtherExpenses1Member5449422026-09-30OtherNoncurrentFinancialAssetsDomain15449422026-09-30OtherNoncurrentAssetsDomain15449422026-09-30OtherNoncurrentAssetsDomain25449422026-09-30OtherCurrentFinancialAssetsDomain15449422026-09-30OtherCurrentAssetsDomain15449422026-09-30OtherNoncurrentFinancialLiabilitiesDomain15449422026-09-30OtherNoncurrentLiabilitiesDomain15449422026-09-30OtherCurrentFinancialLiabilitiesDomain15449422026-09-30OtherCurrentFinancialLiabilitiesDomain25449422026-09-30OtherCurrentLiabilitiesDomain15449422026-09-30OtherCurrentLiabilitiesDomain25449422026-07-012026-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15449422026-07-012026-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss25449422026-04-012026-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15449422026-04-012026-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss2iso4217:INRiso4217:INRxbrli:shares544942VARMORANOTLISTEDINE0M5301040VARMORA GRANITO LIMITEDMain BoardEquity2026-04-012027-03-312026-10-19INRMillionsQuarterlySecond quarterSingle segmentNot Applicable2026-10-1916:00:002026-10-1920:00:00trueCash Flow IndirectNot applicable2026-07-012026-09-30UnauditedConsolidated3989660000362100004025870000965960000670210000-27326000025701000067800000108880000172336000035199600005059100005810000511720000713600001320000726800000439040000000510000439550000560000440110000453220000-13670000453780000-1367000045202000022.232.23002.232.231 The unaudited consolidated financial results of the Holding Company and its Subsidiaries (referred to as "the Group") for the quarter and half year ended September 30, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors of the Group at their respective meeting held on October 19, 2026. The Statutory auditors have carried out a limited review of these results. <br /> 2 The unaudited consolidated financial results of the Group have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards 34, Interim Financial Reporting as prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 (as amended). <br /> 3 The figures for the quarter and half year ended September 30, 2025 have been extracted from the Group's unaudited consolidated financial statements as approved by the Board of Directors, which were neither subjected to review nor audit by the Statutory Auditors. However, the management has exercised necessary due diligence to ensure that the financial results for such periods provide a true and fair view of Group's affairs. <br /> 4 The Holding Company’s equity shares have been listed on the National Stock Exchange of India ("NSE") and on BSE Limited ("BSE") on September 29, 2026, by completing Initial Public of 47,839,255 equity shares of face value of Rs. 2 each at an issue price of Rs. 148 per equity share, comprising of offer for sale of 26,217,634 equity shares by selling shareholders and 21,621,621 fresh issue of equity shares. <br /> The utilisation of the lPO proceeds is summarized below: - <br /> Objects of the issue as per the prospectus <br /> Utilisation planned as per prospectus* <br /> Repayment/ pre-payment, in full or in part, of all or certain outstanding borrowings and accrued interest thereon Rs. 2,150 Millions <br /> Repayment/ pre-payment, in full or in part, of all or certain outstanding borrowings and accrued interest thereon availed by wholly-owned subsidiaries namely Covertek Ceramica Private Limited and Varmora Sanitarywares Private Limited (formerly, Varmora Sanitarywares LLP), through investment in such Subsidiaries Rs. 300 Millions <br /> General Corporate purpose Rs. 480.03 Millions <br /> * net of share issue expenses of INR 269.97 Millions <br /> Unutilised as at September 30, 2026 # <br /> # the above mentioned unutilised proceeds is held in deposits/accounts in Monitoring accounts. <br /> 5 The Group's business falls under single operating segment of manufacturing and selling of tiles and related products. Hence, there are no reportable segment disclosure under lnd AS 108, Operating Segments. <br /> 6 Effective April 01, 2026, the Group has changed the method of depreciation, based on review of key operational estimates including an operational efficiency and patten in which the future economic benefits of these assets are expected to be consumed, from diminishing balance method to straight line method. Accordingly, change in method of depreciation of the said asset is being applied prospectively in accordance with Ind AS 8 - Accounting Policies, Change in Accounting Estimates and Errors. Had the Group continued with the previous estimated method for charging depreciation, charge for depreciation would have been higher by Rs. 112.73 Millions for the quarter and by Rs. 225.13 Millions for half-year ended September 30, 2026, net profit have been lower by Rs. 84.89 Millions for the quarter and by Rs. 169.59 Millions for half-year ended September 30, 2026. <br /> 7 "(i) The Government of India has consolidated 29 existing labour legislations into a unified framework comprising four Labour Codes, viz. Code on Wages, 2019, Code on Social Security, 2020, Industrial Relations Code, 2020 and Occupational Safety, Health and Working Conditions Code 2020 collectively referred to as the New Labour Codes. These Codes have been made effective from November 21, 2025. <br /> In accordance with the guidance issued by the Institute of Chartered Accountants of India and based on actuarial valuation, the Group has estimated the financial implications thereof and made additional provision of Rs. 7.74 Millions towards gratuity disclosed under Exceptional items in the Statement for the year ended March 31, 2026. <br /> (ii) During the quarter ended September 30, 2026, the Group has executed the Memorandum of Understanding dated September 05, 2026 by and amongst the Group, Chaturbhai Kamarshibhai Detroja, Kiritkumar Karamsibhai Detroja and Simola Tiles LLP for sale of the operations of Simola Tiles LLP, a subsidiary of the Group due to lack of strategic fit and continued losses for a consideration of INR 373.50 Millions. Accordingly, the Group has incurred a gain on sale of investment and call option of Rs. 5.81 Millions and same has been charged under exceptional items in the Statement for the quarter and half year ended September 30, 2026." <br /> 8 During the quarter and half year ended September 30, 2026, the Group has allotted 27,65,095 equity shares of face value of Rs. 2/- each to eligible employees upon exercise of stock options under the Varmora Employee Stock Option Plan 2023.2026-04-012026-09-30UnauditedConsolidated714241000081260000722367000017411700001136310000-33740000049961000013909000022386000031714000006574040000649630000581000065544000077350000394300001167800000538660000000-20800005365800001120000537700000579580000-43000000580700000-4300000045202000022.872.87002.872.87Other expenses1723360000Other expenses317140000049759100003523500000063500005970400000054290000651330000138000048540000603586000027617800000322412000037169200005984600006017800005463300008687610000032641000011775800000178116600004520200001127520000011727220000011727220000132285000000016352000014863700006186000011670000014492000017048200001767740000313400001422480000145382000081292000040344800002737300004360000670500000437962000000608444000017811660000Other financial assets54290000Non current tax assets (net)5770000Other non-current assets42770000Other financial assets546330000Other current assets326410000Lease Liability163520000Other non-current liabilities144920000Lease Liability20520000Other financial liabilities792400000Contract liabilities107480000Other current liabilities166250000139090000-3512500003010000000-933700000027400000-5024600000-152100000223860000526400008060000048492000000046670000000001123000002145800008700200000008325000007867700000700000000000005482000011707000000000000000005057500000000262200000-270550000-882330000002960430000000000-1813500001383000001345900000029933600002897800000028978000008191200003716920000Items that will not be reclassified to profit or loss760000Share of OCI in associates and joint ventures0760000Items that will not be reclassified to profit or loss1510000Share of OCI in associates and joint ventures015100002000003900005600001120000