Varmora Granito Defies Market Dip, Soars Post-Q2 Results

Varmora Granito, a small-cap company with a market capitalization of approximately ₹3,000 crore, demonstrated significant resilience by finishing 1.60% higher at ₹135, even as major Indian stock indices faced selling pressure on Thursday, October 22, 2026. The company's robust performance is linked to its strong financial results for Q2 FY27 and H-1 FY27.

Market analysts noted that Varmora Granito reported an impressive 498% year-on-year increase in profit after tax (PAT) to ₹53.7 crore for the first half of FY27. Revenue from operations for the six months ended September 30, 2026, grew 3.3% year-on-year to ₹714.2 crore. These figures represent Varmora's first financial disclosures since its listing on September 29, 2026.

The company's Q2 FY27 revenue stood at ₹399 crore, marking a 9% year-on-year and 27% sequential increase. PAT for the quarter surged 206% to ₹44 crore compared to the previous year's corresponding quarter. This growth occurred despite industry-wide challenges, including a natural gas supply crisis impacting the tile manufacturing sector in Morbi.

Technical analysis suggests strong support for Varmora Granito shares at ₹124, with resistance at ₹146. A decisive close above ₹146 could propel the stock towards ₹170. Investors are advised to initiate fresh buying above ₹146 or around ₹130, with a stop-loss at ₹124. Existing shareholders should maintain their positions with the same stop-loss for targets of ₹146 and ₹170.