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Company insights, generated from the most recent coverage.
Balance sheet is repairing fast — total debt down from INR 3,579 mn (FY26) to INR 3,091 mn by Sep'26 while net worth jumped to INR 11,727 mn from INR 8,060 mn. Debt/equity of 0.58 should keep falling and cut interest cost.
GVT is becoming almost the entire business — management projects glazed vitrified tiles at 95% of sales this year versus 84% last year, concentrating the thesis on one premium category.
Geopolitical conflict disrupting fuel supply is a live operational risk, not a past event — it already forced a plant shutdown in April 2026 and hit exports via freight costs.
