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Aro Granite Industries Limited (AROGRANITE)

₹23.83 -1.81% last close, 16 Oct

📊 NSE: AROGRANITE 🏢 Granites & Marbles 📢 Latest filing: 28 Sep 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Aro Granite's revenue was ₹20.6 Cr (-23.7% year on year, +79.0% on the previous quarter), and net profit ₹-7.5 Cr (against a profit a year earlier); the operating margin was -12.9%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹20.6	-23.7%	+79.0%
Operating profit	₹-2.7	to loss	loss narrowed
Net profit	₹-7.5	to loss	loss widened
EPS (₹)	-4.83	to loss	loss widened
Operating margin	-12.9%	—	—

Full quarterly financials → Results calendar →

AROGRANITE delivery percentage and bulk deals

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 51.96% of the AROGRANITE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 78.47%. That is lower than usual for this stock. Turnover was only ₹83 lakh, so a handful of trades can move this figure. It traded 37.1 times its average daily volume. 4 bulk or block deals were reported in AROGRANITE in the last 60 days: ₹0.52 Cr bought and ₹0.51 Cr sold.

51.96%Delivery, 16 Oct

78.47%Own 20-session average

37.1×Volume vs its average

₹23.83NSE close · -1.81%

Delivery in the last 5 sessions: 69.2% · 84.7% · 51.9% · 74.0% · 52.0%

Date	Side	Counterparty	Value	Price	Quantity	Type
16 Oct	Sell	Orion Stocks Ltd	₹0.47 Cr	₹24.70	189,661	Bulk
16 Oct	Buy	Irage Broking Services Llp	₹0.35 Cr	₹24.67	140,053	Bulk
16 Oct	Buy	Orion Stocks Ltd	₹0.18 Cr	₹24.91	70,889	Bulk
16 Oct	Sell	Irage Broking Services Llp	₹0.04 Cr	₹25.17	15,336	Bulk

Delivery across the market →Unusual volume today →All bulk and block deals →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Aro Granite Closes Trading Window from Oct 1, 2026 for Q2/H1 FY27 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 28 Sep 2026, 12:58 PM

Aro Granite Industries has announced the closure of its trading window effective Thursday, October 1, 2026. This closure complies with SEBI insider trading regulations ahead of the declaration of audited financial results for the quarter and half-year ended September 30, 2026. The window will reopen 48 hours after the results are declared. The exact date of the board meeting will be communicated separately.

Trading window closure starts from Thursday, October 1, 2026
Covers financial results for the quarter and half year ended September 30, 2026
Trading window to reopen 48 hours after the announcement of audited results

💡 Track the upcoming board meeting announcement date to see when Q2 and H1 FY27 financial results will be declared.

Aro Granite Seeks Shareholder Approval for Slump Sale of Jaipur Unit and US RPT

🔵 WATCH ⭐ 9/10

M&A 📅 16 Sep 2026, 01:47 PM

Aro Granite Industries has issued a Postal Ballot notice seeking shareholder approval for a slump sale of its existing Jaipur unit to M/s United Stones Private Limited under Section 180(1)(a) and Regulation 37A. The company is also seeking approval for related party transactions for FY 2026-27 with its US marketing entity, Aro Granite International INC. USA. Remote e-voting runs from September 21, 2026, to October 20, 2026, with results expected by October 22, 2026. This divestment comes as Aro Granite carries substantial debt of ₹152 Cr against a market cap of ₹35 Cr and incurred a TTM net loss of ₹19 Cr.

Slump sale of industrial property at Mahindra World City SEZ, Jaipur to M/s United Stones Private Limited proposed via Special Resolution
Approval sought for related party transactions with Aro Granite International INC. USA for FY 2026-27
Remote e-voting opens on September 21, 2026, and closes on October 20, 2026
Scrutinizer's report and results declaration scheduled on or before October 22, 2026
The cut-off date to determine shareholder voting eligibility was set as Friday, September 11, 2026

💡 Track the outcome of the postal ballot voting on October 22, 2026, and look for subsequent disclosures regarding the financial consideration and debt-reduction impact of the Jaipur unit slump sale.

Aro Granite Shareholders Approve Director Reappointments & Promoter Loan Approvals at 38th AGM

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Sep 2026, 03:09 PM

Aro Granite Industries has submitted the scrutinizer's report and voting results for its 38th Annual General Meeting held on September 11, 2026. All seven resolutions were passed with the requisite majority, including the adoption of FY26 financial statements and director reappointments. Notably, shareholders approved related party transactions permitting the company to avail unsecured loans from promoter-directors Sujata Arora, Sahil Arora, and Sunil Kumar Arora, with public shareholders voting over 98% in favor. This borrowing flexibility comes as the company manages high debt of Rs 152 Cr against TTM revenues of Rs 67 Cr.

All 7 resolutions passed with requisite majority at the 38th AGM held on September 11, 2026
Sunil Kumar Arora re-appointed as Managing Director for 3 years effective April 1, 2027 (99.87% total votes in favor)
Sahil Arora re-appointed as Whole-Time Director for 3 years effective November 1, 2026 (99.87% total votes in favor)
Approval granted for borrowing unsecured loans from promoter-directors with 98.07% public votes in favor (4,31,393 to 4,31,406 votes)
Overall voter turnout was 43.92% on general resolutions (67,19,966 votes polled out of 1,53,00,000 total shares)

💡 Track the upcoming quarterly earnings (Q2 FY27) to observe if operating margins improve and watch for quantum and interest terms of promoter unsecured loans taken to support liquidity.

Aro Granite Concludes 38th AGM; Votes on Promoter Loans and Key Executive Re-appointments

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 11 Sep 2026, 02:42 PM

Aro Granite Industries held its 38th Annual General Meeting on September 11, 2026, via Video Conferencing. Key resolutions tabled included the re-appointment of Managing Director Sunil Kumar Arora (3-year term from April 1, 2027) and Whole-Time Director Sahil Arora (3-year term from November 1, 2026). Additionally, the company sought shareholder approval for related-party unsecured loans from promoter-directors to assist liquidity. Final scrutinizer voting results will be disclosed within two working days.

Held 38th AGM on September 11, 2026, from 12:30 PM to 01:05 PM IST
Special resolution tabled for re-appointment of MD Sunil Kumar Arora for 3 years w.e.f. April 1, 2027
Special resolution tabled for re-appointment of Whole-Time Director Sahil Arora for 3 years w.e.f. November 1, 2026
Shareholder approval sought for borrowing unsecured loans via related-party transactions from three promoter-directors
Remote e-voting was conducted between September 08, 2026 (10:00 AM) and September 10, 2026 (5:00 PM)

💡 Track the upcoming voting results disclosure within 2 working days to confirm resolution approvals, especially concerning promoter borrowing limits and executive re-appointments.

Aro Granite to Sell Jaipur SEZ Unit for ₹67 Cr via Slump Sale

🟢 POSITIVE ⭐ 9/10

M&A 📅 07 Sep 2026, 03:51 PM

Aro Granite's Board has approved the slump sale of its business undertaking situated at Mahindra World City SEZ, Jaipur, to United Stones Private Limited for a total consideration of ₹67.00 Crore. The unit contributed ₹11.96 Crore (16.27%) to FY26 turnover and has an asset book value of ₹48.19 Crore (27.70% of net worth). The transaction proceeds will be deployed to pay down debt (total debt currently stands at ₹152 Crore) and support high-margin core verticals. The transaction is subject to shareholder approval via postal ballot under SEBI Regulation 37A and lender consents.

Slump sale of Jaipur SEZ unit agreed for ₹67.00 Crore to United Stones Private Limited.
Sale price of ₹67.00 Crore represents a premium over the unit's book value of ₹48.19 Crore.
The divested unit generated ₹11.96 Crore in revenue (16.27% of FY26 consolidated revenue).
Proceeds earmarked for debt reduction, working capital reinforcement, and expansion into higher-margin verticals.

💡 Monitor the shareholder voting results on the postal ballot under Regulation 37A, execution of the definitive Business Transfer Agreement (BTA), and subsequent debt reduction upon deal closing.

Aro Granite to Sell Jaipur SEZ Unit via Slump Sale for ₹67 Crore

🟢 POSITIVE ⭐ 9/10

M&A 📅 07 Sep 2026, 03:43 PM

Aro Granite's Board has approved the slump sale of its Jaipur SEZ business unit to United Stones Private Limited for a total consideration of ₹67.00 Crore. The unit generated ₹11.96 Crore in revenue (16.27% of FY26 consolidated turnover) and held an asset book value of ₹48.19 Crore (27.70% of net worth). The transaction consideration represents ~181% of the company's current market capitalization of ₹37 Crore and will be used to reduce debt, cut finance costs, and support core working capital.

Slump sale of Jaipur SEZ unit approved for a total consideration of ₹67.00 Crore
Unit contributed ₹11.96 Crore (16.27%) to FY26 turnover of ₹73.51 Crore
Divested asset book value is ₹48.19 Crore, representing 27.70% of net worth (₹173.94 Crore)
Buyer United Stones Private Limited is an independent third party (non-related party)
Proceeds to be deployed towards debt reduction, high-margin verticals, and working capital

💡 Track the outcome of the postal ballot e-voting under Regulation 37A and the subsequent execution of the definitive Business Transfer Agreement (BTA).

Aro Granite to Hold 38th AGM on Sept 11, 2026; FY26 Annual Report Released

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 11 Aug 2026, 05:14 PM

Aro Granite Industries Limited has scheduled its 38th Annual General Meeting (AGM) for September 11, 2026, to be conducted via video conferencing. The company has dispatched letters to shareholders whose email addresses are not registered, providing web-links to the FY 2025-26 Annual Report and AGM notice. This filing is procedural but follows a difficult financial year where the company reported a net loss of ₹11.81 Cr on revenue of ₹73.52 Cr. Investors should use the annual report to assess management's plan for handling its ₹152 Cr debt load.

38th Annual General Meeting scheduled for September 11, 2026, at 12:30 IST.
Annual Report for FY 2025-26 and AGM notice made available via company web-link.
Company reported a significant net loss of ₹11.81 Cr for FY26 compared to a loss of ₹6.43 Cr in FY25.
Total debt stands at ₹152 Cr, which is nearly 4x the current market capitalization of ₹39 Cr.
Management continues to focus on Quartz surfaces to improve margins over traditional marble.

💡 Investors should review the 'Management Discussion and Analysis' section of the FY26 Annual Report for specific timelines on the quartz capacity expansion and debt reduction strategies.

₹50 Cr Related Party Loan Approval Sought at AGM on Sept 11, 2026

🔵 WATCH ⭐ 6/10

BOARD_MEETING 📅 10 Aug 2026, 04:38 PM

Aro Granite Industries has scheduled its 38th Annual General Meeting (AGM) for September 11, 2026. The company is seeking shareholder approval for material related party transactions involving borrowings of up to ₹50 crore from promoters/directors for FY27. This proposed loan limit is significant, representing approximately 128% of the company's current market capitalization of ₹39 crore. Additionally, the company is seeking re-appointment for its Managing Director and Whole-Time Director for three-year terms.

Proposed borrowing limit of ₹50 crore from promoters/directors for FY27 to support liquidity.
38th Annual General Meeting scheduled for September 11, 2026, via video conferencing.
Re-appointment of Mr. Sunil Kumar Arora as Managing Director for 3 years effective April 1, 2027.
Re-appointment of Mr. Sahil Arora as Whole-Time Director for 3 years effective November 1, 2026.
Book closure for share transfer and members register from September 5 to September 11, 2026.

💡 Monitor the AGM voting results, specifically the approval of the ₹50 crore promoter loan which is critical for managing the company's ₹152 crore debt pile. Watch for management commentary on the transition to higher-margin quartz surfaces to offset recent losses.

₹50 Cr Promoter Loan Approval Sought at AGM Scheduled for Sept 11, 2026

🔵 WATCH ⭐ 6/10

BOARD_MEETING 📅 10 Aug 2026, 04:13 PM

Aro Granite Industries has announced its 38th Annual General Meeting (AGM) for September 11, 2026, with a book closure period starting September 5. A key resolution involves seeking shareholder approval for borrowing up to ₹50 crore from promoters Sujata Arora and Sahil Arora during FY 2026-27. This proposed loan is significant, representing approximately 128% of the company's current market capitalization of ₹39 crore. The company also seeks to re-appoint its Managing Director and Whole-Time Director for three-year terms starting in 2027 and 2026, respectively.

Proposed borrowing of up to ₹50 crore from promoters for the financial year 2026-27.
38th Annual General Meeting scheduled for September 11, 2026, via video conferencing.
Book closure period set from September 5, 2026, to September 11, 2026.
Re-appointment of Managing Director Sunil Kumar Arora for 3 years effective April 1, 2027.
Re-appointment of Whole-Time Director Sahil Arora for 3 years effective November 1, 2026.

💡 Investors should monitor the AGM voting results and the specific interest terms of the proposed ₹50 crore promoter loan, as the company is currently loss-making (TTM PAT -₹12 Cr) and carries high debt (₹152 Cr).

₹50 Cr Promoter Loan Limit Proposed in Aro Granite's 38th AGM Notice

🔵 WATCH ⭐ 5/10

BOARD_MEETING 📅 10 Aug 2026, 04:05 PM

Aro Granite Industries has scheduled its 38th Annual General Meeting (AGM) for September 11, 2026. A critical agenda item is the approval of a borrowing limit of up to ₹50 crore from promoters for FY 2026-27, which is significant given the company's ₹39 crore market capitalization. The company reported a net loss of ₹11.81 crore in FY26 and currently carries a high debt of ₹152 crore. Investors should note the proposed re-appointments of the Managing Director and Whole-Time Director for three-year terms.

AGM scheduled for September 11, 2026, with book closure starting September 5, 2026
Proposed related party transaction limit of ₹50 crore for loans from promoters in FY 2026-27
Re-appointment of Mr. Sunil Kumar Arora as Managing Director for 3 years effective April 1, 2027
Re-appointment of Mr. Sahil Arora as Whole-Time Director for 3 years effective November 1, 2026
Company reported a TTM net loss of ₹12 crore against a TTM revenue of ₹74 crore

💡 Monitor the AGM voting results regarding the ₹50 crore promoter loan facility and track if these funds are used to retire high-cost external debt or fund the shift toward quartz surfaces.

Aro Granite Re-appoints MD & WTD for 3 Years; Reports Q1 Net Loss of •7.45 Cr

🔴 NEGATIVE ⭐ 7/10

MANAGEMENT 📅 07 Aug 2026, 02:23 PM

Aro Granite Industries has approved the re-appointment of Mr. Sunil Kumar Arora as Managing Director and Mr. Sahil Arora as Whole-Time Director for three-year terms starting in 2027 and 2026, respectively. Alongside management updates, the company reported a weak Q1 FY27 performance with a net loss of •7.45 Cr, a sharp decline from a •0.06 Cr profit in Q1 FY26. Revenue from operations fell 23.7% YoY to •20.62 Cr, while finance costs of •2.92 Cr continue to severely impact the bottom line, consuming 14% of total revenue.

Net loss of •7.45 Cr reported for Q1 FY27 compared to a profit of •0.06 Cr in Q1 FY26
Revenue from operations declined to •20.62 Cr from •27.04 Cr in the year-ago quarter
Finance costs remained high at •2.92 Cr, representing a significant burden on the •39 Cr market cap company
Mr. Sunil Kumar Arora re-appointed as MD for 3 years effective April 1, 2027
Quartz division reported a segment loss of •1.24 Cr on revenue of •5.33 Cr

💡 Watch for the company's ability to improve capacity utilization in the Quartz division and any strategic moves to deleverage, as current finance costs are unsustainable relative to operating profits.

Aro Granite Reports Q1 Net Loss of ₹7.45 Cr; Re-appoints MD for 3 Years

🔴 NEGATIVE ⭐ 7/10

BOARD_MEETING 📅 07 Aug 2026, 02:16 PM

Aro Granite Industries reported a weak set of Q1 FY27 results with revenue declining 23.7% YoY to ₹20.62 Cr. The company posted a net loss of ₹7.45 Cr, a significant deterioration from the marginal profit of ₹0.06 Cr in the same quarter last year. High finance costs of ₹2.92 Cr continue to weigh heavily on the bottom line, representing 14.1% of total revenue. Amidst these financial pressures, the board has approved the re-appointment of Mr. Sunil Kumar Arora as Managing Director for a three-year term starting April 2027.

Net loss widened to ₹7.45 Cr in Q1 FY27 from a profit of ₹0.06 Cr in Q1 FY26
Revenue from operations decreased to ₹20.62 Cr, down from ₹27.04 Cr in the year-ago period
Finance costs remained high at ₹2.92 Cr, consuming 14.1% of the quarterly revenue
Quartz division reported a segment loss of ₹1.24 Cr on revenue of ₹5.33 Cr
Managing Director Sunil Kumar Arora re-appointed for 3 years effective April 1, 2027

💡 Investors should closely monitor the company's debt-servicing capability and the performance of the Quartz division, which was expected to be a margin driver but is currently loss-making.

₹7.45 Cr Net Loss in Q1 FY27; Revenue Declines 23.7% YoY

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 07 Aug 2026, 01:52 PM

Aro Granite Industries reported a significant net loss of ₹7.45 Cr for the quarter ended June 30, 2026, compared to a marginal profit of ₹0.06 Cr in the same period last year. Revenue from operations fell 23.7% YoY to ₹20.62 Cr, reflecting continued weakness in both Granite and Quartz segments. High finance costs of ₹2.92 Cr remain a major drag, accounting for 14.1% of the quarterly revenue. The board also approved the re-appointment of the Managing Director and Whole-Time Director for three-year terms starting in late 2026 and early 2027.

Revenue from operations dropped to ₹20.62 Cr in Q1 FY27 from ₹27.04 Cr in Q1 FY26.
Net loss widened to ₹7.45 Cr, a sharp reversal from the ₹0.06 Cr profit in the year-ago quarter.
Finance costs of ₹2.92 Cr consumed 14.1% of total revenue, highlighting high debt servicing pressure.
Quartz division reported a segment loss of ₹1.24 Cr on revenue of ₹5.33 Cr.
Granite Slabs/Tiles division revenue declined 15.2% YoY to ₹15.88 Cr with a segment loss of ₹3.32 Cr.

💡 Investors should monitor the company's debt levels (₹152 Cr) and interest coverage, as finance costs are currently unsustainable relative to operating performance. Watch for any signs of margin improvement in the Quartz segment, which is the company's stated strategy for recovery.

Aro Granite Submits Routine SEBI Dematerialization Certificate for Q1 FY27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Jul 2026, 04:59 PM

Aro Granite Industries has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the quarter ended June 30, 2026. The document, issued by Alankit Assignments Limited, confirms that share certificates received for dematerialization were processed and cancelled within the required 15-day timeframe. This is a standard administrative filing required of all listed entities and does not reflect any change in the company's financial or operational status. Given the company's current financial stress, including a TTM loss of Rs 12 Cr and high debt of Rs 152 Cr, this filing is purely procedural.

Compliance certificate issued for the quarter ended June 30, 2026
Confirmation that securities were mutilated and cancelled within 15 days of receipt
Registrar and Transfer Agent (RTA) identified as M/s Alankit Assignments Limited
Filing confirms that dematerialized securities are listed on the relevant Stock Exchanges

💡 No action is required for this routine filing. Investors should instead monitor the upcoming Q1 FY27 earnings to track the company's progress in reducing its Rs 152 Cr debt and improving OPM from the current 2.0%.

Aro Granite Industries to Close Trading Window from July 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Jun 2026, 04:02 PM

Aro Granite Industries Limited has announced the closure of its trading window for designated persons starting July 1, 2026. This move is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015. The closure is in anticipation of the declaration of audited financial results for the quarter ending June 30, 2026. The trading window will reopen 48 hours after the financial results are officially announced to the stock exchanges.

Trading window closure effective from Wednesday, July 1, 2026.
Closure pertains to the audited financial results for the quarter ending June 30, 2026.
Applies to all designated persons and their immediate relatives as per the company's internal code.
Window will reopen 48 hours after the board meeting results are declared.
The specific date for the board meeting will be communicated separately in due course.

💡 This is a routine regulatory announcement and does not impact the company's fundamentals. Investors should monitor for the upcoming board meeting date to review the Q1 financial performance.

View All AROGRANITE Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue from operations declined 20.6% YoY from INR 15,509.48 lakh in FY24 to INR 12,309.05 lakh in FY25. Q2 FY25 revenue of INR 28.61 Cr showed a 23.55% YoY decline due to sluggish demand in the marble segment, although quartz demand witnessed improvement.

Geographic Revenue Split

Not disclosed in available documents, though the company maintains a diversified customer profile across various regions.

Profitability Margins

The company shifted from a profit before tax of INR 340.24 lakh in FY24 to a loss of INR 685.17 lakh in FY25. Q2 FY25 PAT margin was -25.16% (Loss of INR 7.20 Cr on INR 28.61 Cr revenue) compared to a profit of INR 0.39 Cr in Q2 FY24.

EBITDA Margin

Q2 FY25 EBITDA margin was -7.06%, a significant decline of 2,540 bps from 18.34% in Q2 FY24. Core profitability is under pressure due to high interest costs and sluggish demand.

Capital Expenditure

No debt-funded capital expenditure is planned for the near to medium term. Scheduled repayment of term debt is the primary focus for cash flow utilization.

Credit Rating & Borrowing

The credit outlook was revised to 'Negative' from 'Stable' due to deteriorating financial risk profiles. Overall gearing improved to 0.86x as of March 31, 2025, from 1.05x in FY24 due to debt repayments.

⚙️ Operational Drivers

Raw Materials

Granite blocks, marble, and quartz. Cost of materials consumed was INR 6,188.93 lakh in FY25, representing 50.28% of total revenue.

Capacity Expansion

Not disclosed in available documents; however, the company is focusing on quartz surfaces to improve overall margins.

Raw Material Costs

Raw material costs were INR 61.89 Cr in FY25, down 25.6% YoY from INR 83.26 Cr in FY24, tracking the decline in overall revenue.

📈 Strategic Growth

Expected Growth Rate

22%

Growth Strategy

The company aims to achieve growth by focusing on quartz surfaces which command better margins. Positive rating sensitivities require increasing scale to over INR 150 Cr with EBITDA margins exceeding 13% and reducing net working capital to operating income below 90%.

Products & Services

Granite slabs, granite tiles, marble slabs, and quartz surfaces.

Brand Portfolio

Aro Granite, Aro Tile.

New Products/Services

Increased focus on Quartz surfaces to capture improving demand and higher margins compared to traditional marble.

🌍 External Factors

Industry Trends

The industry is seeing sluggish demand for marble while quartz demand is improving. The company is positioning itself to capitalize on the quartz shift to improve margins.

Competitive Moat

The company's moat is built on a long track record of operations and an experienced management team, which provides stability during industry downturns.

Macro Economic Sensitivity

Highly sensitive to interest rates; finance costs of INR 12.87 Cr in FY25 represent over 10% of total revenue, significantly impacting the bottom line.