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Varmora Granito Targets ₹2,500 Crore Revenue by FY29 After ₹450 Crore Capex
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CNBC TV18•29-09-2026, 15:15
Varmora Granito Targets ₹2,500 Crore Revenue by FY29 After ₹450 Crore Capex
- •Varmora Granito projects revenue potential of ₹2,500 crore by FY29, leveraging recent investments and a ₹450 crore capital expenditure across FY24 and FY25.
- •The company plans to repay its ₹240 crore net debt using IPO proceeds, aiming to become a net cash company and reduce annual interest costs by ₹40 crore.
- •A strategic shift towards premium products, particularly Glazed Vitrified Tiles (GVT), is underway, with GVT's contribution to sales expected to reach 95% this year.
- •Varmora Granito is expanding its Integrated Stone Technology (IST) business, producing lab-grown marble, and sees significant opportunity in the ₹41,000-42,000 crore marble market.
- •The company aims to improve cash flows by reducing working capital days from 96 to 75-80 and has optimized its dealer network to focus on GVT and lab-grown marble.
Key Questions Answered
Varmora Granito expects its revenue potential to reach ₹2,500 crore by FY29 as it fully utilizes its recent investments and capital expenditure.
The company completed ₹450 crore of capital expenditure across FY24 and FY25 and does not expect to require any major additional capex until FY29.
Varmora Granito plans to use a portion of its ₹708 crore IPO proceeds to completely repay its ₹240 crore net debt, effectively transforming the firm into a net cash company and significantly reducing annual interest costs.
