Elegant Marbles' revenue up 20%, but a ₹23.42 cr investment loss sinks the year
A mark-to-market hit on its portfolio dwarfed a solid operational year, turning a ₹16.62 cr gain into a ₹20.61 cr loss.
— 3 earlier stories on Elegant Marbles & Grani Industries Ltd. →What's new
- Revenue grew 20% to ₹34.34 crore for the year ended March 2026.
- Net profit fell to ₹3.35 crore from ₹4.70 crore.
- A ₹23.42 crore loss on investments swung total comprehensive income to a ₹20.61 crore loss.
Why this matters
The company's core marble business is growing, but its investment book is so large relative to operations that paper swings dictate the bottom line. This ₹23.42 crore hit is nearly seven times the ₹3.35 crore net profit, making the operational story almost irrelevant for the annual headline number.
What we're watching
- Whether the investment revaluation is a realised write-down or a non-cash swing.
- The trend in higher expenses that squeezed net profit margins despite revenue growth.
- How the ₹34 crore revenue base scales in FY27.
The full read
Elegant Marbles had a decent operational year. Revenue grew 20% to ₹34.34 crore. But that is not the number that matters. Net profit slipped to ₹3.35 crore from ₹4.70 crore, squeezed by higher costs. The real story is a ₹23.42 crore loss on its investment portfolio, which swung total comprehensive income from a ₹16.62 crore gain last year to a ₹20.61 crore loss. The operating business is growing. The investment book is not. For a company this size, that volatility will always overshadow the P&L.
Questions answered
- Why did net profit fall when revenue grew 20%?
- Revenue rose to ₹34.34 crore, but higher expenses and a larger tax bill compressed net profit to ₹3.35 crore, down from ₹4.70 crore.
- What caused the total comprehensive income to swing to a loss?
- A ₹23.42 crore other comprehensive loss from investment revaluation. This is a non-cash, mark-to-market hit on the company's investment portfolio, not from its operations.
- How large is this investment loss relative to the business?
- The ₹23.42 crore revaluation loss is about 68% of the company's entire annual revenue of ₹34.34 crore. It dwarfs the ₹3.35 crore net profit.
- Were there any management changes?
- The board approved the routine reappointment of the Chairman and Managing Director, the internal auditor, and a non-executive director.
Elegant Marbles & Grani Industries Ltd.
Latest quarter · Mar 2026
Strength & growth
Story so far
All notes on ELEMARB →- 21 May 2026 · 7:38 PM IST Elegant Marbles' revenue up 20%, but a ₹23.42 cr investment loss sinks the year
- 45d ago Elegant Marbles' profit slips. Its investment loss is seven times bigger.
- 46d ago Elegant Marbles posts 20% revenue growth, but investment loss sinks net income
- 46d ago Elegant Marbles annual profit slips to ₹3.35 cr