Summary of Key Information:

Reporting Period: Quarter and Half Year ended September 30, 2026

Nature of Filing / Announcement: Outcome of Board Meeting pursuant to Regulation 30 and 33 of SEBI Listing Regulations

Date of Board Meeting / Approval: October 19, 2026 (4:00 PM to 8:00 PM IST)

Audit Opinion: Unqualified - Limited Review Report with no modifications

Auditor's Comment: Nothing has come to attention that causes belief of material misstatement

Key Financial Highlights [Amount in ₹ Millions]

Standalone Results:

Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹3,870.64 (vs ₹3,308.41 in Q2 2025 - 17% YoY increase)
  • Total Income: ₹3,913.62
  • Net Profit: ₹232.86 (vs ₹169.93 in Q2 2025 - 37% YoY increase)
  • EPS Basic: ₹1.15 (vs ₹0.81 in Q2 2025)
  • EPS Diluted: ₹1.15 (vs ₹0.81 in Q2 2025)

Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹6,833.55 (vs ₹6,167.11 in H1 2025 - 11% YoY increase)
  • Total Income: ₹6,931.68
  • Net Profit: ₹380.04 (vs ₹112.65 in H1 2025 - 237% YoY increase)
  • EPS Basic: ₹1.88 (vs ₹0.56 in H1 2025)
  • EPS Diluted: ₹1.88 (vs ₹0.56 in H1 2025)

Balance Sheet Position as at September 30, 2026:

  • Cash and Cash Equivalents: ₹3,716.06 (vs ₹811.58 as at March 31, 2026)
  • Other Equity: ₹11,010.82 (vs ₹7,592.18 as at March 31, 2026)
  • Total Debt (Borrowings): ₹2,749.06 (₹1,215.03 non-current + ₹1,534.03 current)
  • Total Assets: ₹17,306.73 (vs ₹13,696.59 as at March 31, 2026)

Consolidated Results:

Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹3,989.66
  • Total Income: ₹4,025.87
  • Net Profit: ₹439.55
  • EPS Basic: ₹2.23
  • EPS Diluted: ₹2.23

Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹7,142.41
  • Total Income: ₹7,223.67
  • Net Profit: ₹536.58
  • EPS Basic: ₹2.87
  • EPS Diluted: ₹2.87

Segment-wise Performance:

The Company's business falls under single operating segment of manufacturing and selling of tiles and related products. No segment disclosure required under Ind AS 108.

Corporate Actions:

  • Dividend: Not declared
  • Share Allotment: During Q2, allotted 2,765,095 equity shares (face value ₹2 each) to eligible employees upon exercise of stock options under Varmora Employee Stock Option Plan 2023
  • IPO Completion: Equity shares listed on NSE and BSE on September 29, 2026 through IPO of 47,839,255 equity shares (face value ₹2 each) at issue price of ₹148 per share
  • Offer for sale: 26,217,634 equity shares by selling shareholders
  • Fresh issue: 21,621,621 equity shares

Other Significant Information:

IPO Proceeds Utilization (as of September 30, 2026):

  • Repayment of borrowings (planned ₹2,150.00 million): Not utilized
  • Repayment of subsidiaries' borrowings (planned ₹300.00 million): Not utilized
  • General corporate purpose (planned ₹480.03 million): Not utilized
  • Unutilized proceeds held in monitoring accounts

Accounting Policy Change:

Effective April 1, 2026, changed depreciation method from diminishing balance to straight line method. Had previous method been continued:

  • Depreciation would have been higher by ₹105.58 million for Q2 and ₹210.17 million for H1
  • Net profit would have been lower by ₹79.01 million for Q2 and ₹157.27 million for H1

Exceptional Items:

  • Additional provision of ₹7.24 million towards gratuity due to New Labour Codes implementation
  • Loss on sale of investment and call option of ₹178.67 million from sale of Simola Tiles LLP operations

Subsidiary Sale:

Executed Memorandum of Understanding dated September 5, 2026 for sale of Simola Tiles LLP operations for consideration of ₹373.50 million due to lack of strategic fit and continued losses