Varmora Granito Limited

• Repayment/ pre-payment, in full or in part, of all or certain outstanding borrowings and accrued interest thereon availed by: a. our Company; and b. our wholly-owned subsidiaries namely Covertek Ceramica Private Limited and Varmora Sanitarywares Private Limited (formerly, Varmora Sanitarywares LLP), through investment in such Subsidiaries₹245 Cr
• General corporate purposes

• We are dependent on our manufacturing facilities for a significant portion of our revenues (81.72% of our total revenue from operations in Fiscal 2026). Any delay in production at, or shutdown of, or any interruption in these manufacturing facilities may significantly and adversely affect our business, financial condition, cash flows and results of operations.(Manufacturing)

• We derive a substantial portion of our revenue from the sale of glazed vitrified tiles (GVT) and technical products (73.98% of our total revenue from operations in Fiscal 2026), and any slowdown in the demand for GVT and technical products could have a material adverse effect on our business, financial condition, cash flows and results of operations.(Market Demand)

• All our revenues are attributable to manufacturing facilities (owned and operated by our Company or Subsidiaries, or third-party contract manufacturers) situated in Morbi, Gujarat, India. Any disruption in the Morbi region, may significantly and adversely affect our business, financial condition, cash flows and results of operations.(Geographic Concentration)

• All our manufacturing facilities (operated through our Company and Subsidiaries) and the manufacturing facilities of our third-party contract manufacturers are situated in the Morbi, Gujarat in India. Any disruption caused by local and regional factors in the Morbi cluster including agitations, accidents, system failures, economic, political and weather conditions, natural disasters, demographic factors, and other unforeseen events and circumstances, could have a significant impact on our operations.(Geographic Concentration)

• We have an extensive retail distribution network and derive a significant portion of our revenue from operations from our B2C retail chain (comprising exclusive brand outlets (EBOs) and multi brand outlets (MBOs)) (accounting for 66% of our total revenue from operations in Fiscal 2026). Any disruption in our retail network could adversely affect our business.(Distribution)

• We are engaged in the manufacturing of tiles through our in-house manufacturing facilities and third party contract manufacturers. As of March 31, 2026, we engaged 304 third party contract manufacturers, which are critical to our operations. Any shutdown or interruption in the operations of any of our existing facilities, or our inability to respond to such shutdown or disruption in a timely manner or at an acceptable cost, could significantly and adversely affect our entire manufacturing of the product specifically produced at such facility.(Supply Chain)

• We may experience interruptions at our manufacturing facilities due to external factors such as adverse weather conditions, natural disasters, fire, terrorism, vandalism, extended power failures, internet failures or changes in laws and regulations, and internal factors such as loss of licenses, certifications and permits, failure to comply with regulatory requirements and the resulting loss of authorization to operate the facility, employee or manpower conflict, breakdown or failure of machinery/ equipment for a prolonged period which may affect our ability to manufacture our products, may increase our costs and could lead to an adverse effect on our business, financial condition, cash flows and results of operations.(Operational)

• Any prolonged disruptions at our manufacturing plants could also result in a lower capacity utilization, which in turn could have an adverse impact on our operations, our ability to meet our production schedules, our reputation, and our results of operations.(Operational)

Each bar is a fixed formula applied to the figures shown above, scored 0–100. This is a reading of what the company disclosed — not a recommendation to apply or avoid, not a price target, and not a prediction of listing performance. Dimensions that could not be extracted are excluded rather than assumed, so coverage varies between documents.

• Varmora Granito Limited - Prospectus25 Sept 2026
• Varmora Granito Ltd. - DRHP22 Sept 2026
• Varmora Granito Limited - Addendum to DRHP18 Jun 2026