ESPRIT
Esprit Stones financials
- Market cap
- ₹138 Cr
- Sector
- Consumer Durables
What Esprit Stones does
Esprit Stones Limited manufactures engineered quartz and marble surfaces along with composite marble, terrazzo and semi-precious stone slabs used in countertops, kitchens, bathroom vanities, flooring and wall cladding, sold under its premium 'Haique' brand. It has backward-integrated into producing its own quartz grit and quartz powder, and unsaturated polyester resin (through subsidiary Addwaya Chemicals), to reduce dependence on third-party raw-material suppliers. It sells through direct export sales to over 10 countries under white-labelling and through an independent distributor network spanning 15 Indian states, supported by an experience centre at Kishangarh, Rajasthan and a storage/sales office in Mumbai.
Segments
- Engineered Quartz Surfaces
- Engineered Marble Surfaces
- Composite Marble & Terrazzo
- Semi-Precious Stone Slabs
- Unsaturated Polyester Resin
- Engineered quartz manufacturing capacity
- ~72 lakh sq.ft./year (3 pressing lines, 2 polishing lines)
- Engineered marble manufacturing capacity (subsidiary HSPL)
- ~74 lakh sq.ft./year (1 pressing line, 2 gangsaws, 1 polishing line)
- Unsaturated polyester resin capacity (subsidiary Addwaya Chemicals)
- ~18,000 metric tonnes/year
- Manufacturing facilities
- 4 (Lakhawali & Salumber, Udaipur; Negadiya, Rajsamand — Rajasthan)
- Export footprint
- 10+ countries incl. USA, Canada, Egypt, Bulgaria, UAE, Saudi Arabia
- Domestic distributor reach
- 15 states
Quarterly results
Q4 FY26: revenue down 22.5%, net profit down 175.0% against the same quarter last year.
| Line item | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|
| Revenue | 89 | 71 | 96 | 97 | 71 −20% | 55 −23% |
| EBITDA | 11 | 7 | 9 | 5 | -3 −127% | -2 −129% |
| Net profit | 6 | 4 | 5 | 3 | -2 −133% | -3 −175% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −27.6% 1Y
1Y: ₹87 on 10 Sept 2025 → ₹63. High ₹90.7 (5 Feb 2026), low ₹52.8 (27 Mar 2026).
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹16 Cr | ₹22 Cr | ₹22 Cr |
| Reserves | ₹31 Cr | ₹50 Cr | ₹53 Cr | ₹57 Cr | ₹110 Cr | ₹100 Cr |
| Borrowings | ₹49 Cr | ₹47 Cr | ₹56 Cr | ₹44 Cr | ₹59 Cr | ₹40 Cr |
| Other liabilities | ₹51 Cr | ₹56 Cr | ₹37 Cr | ₹44 Cr | ₹49 Cr | ₹38 Cr |
| Total liabilities | ₹141 Cr | ₹163 Cr | ₹156 Cr | ₹161 Cr | ₹239 Cr | ₹200 Cr |
| Fixed assets | ₹61 Cr | ₹66 Cr | ₹65 Cr | ₹61 Cr | ₹108 Cr | ₹64 Cr |
| Capital work in progress | ₹7 Cr | ₹1 Cr | ₹0 Cr | ₹3 Cr | ₹1 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹19 Cr |
| Other assets | ₹72 Cr | ₹95 Cr | ₹91 Cr | ₹97 Cr | ₹130 Cr | ₹117 Cr |
| Total assets | ₹141 Cr | ₹163 Cr | ₹156 Cr | ₹161 Cr | ₹239 Cr | ₹200 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Mar 2026
Since Mar 2025, the public added +2.96 pp while DIIs trimmed −1.81 pp. The shareholder count shrank 6% to 849.
- Promoters
- 73.6%
- FIIs
- 0.4%
- DIIs
- 1.6%
- Public
- 24.4%
Since Mar 2025
- Public +2.96 pp
- DIIs −1.81 pp
- FIIs −1.20 pp
How it drifted, 4 quarters
Over this window the public went from 19.0% to 24.4% — +5.4 pp.
Ownership split by quarter, oldest first. Sep '24: Promoters 73.6%, FIIs 3.1%, DIIs 4.3%, Public 19.0%.Mar '25: Promoters 73.6%, FIIs 1.6%, DIIs 3.4%, Public 21.4%.Sep '25: Promoters 73.6%, FIIs 0.4%, DIIs 2.3%, Public 23.7%.Mar '26: Promoters 73.6%, FIIs 0.4%, DIIs 1.6%, Public 24.4%.
Who bought this quarter
since Sep 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Rutvi Chaudhary newly disclosed 1.12% held
- AGG Hospitality Private Limited newly disclosed 0.00% held
- Saurrate One Private Limited newly disclosed 0.00% held
- Urja Renewable Private Limited newly disclosed 0.00% held
The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Esprit Stones above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Nitin Gattani | 20.68% | unchanged |
| Sangeeta Gattani | 12.80% | unchanged |
| Sunil Lunawath | 10.07% | unchanged |
| Pradeep Lunawath | 6.38% | unchanged |
| Mangi Lal Lunawath | 6.37% | unchanged |
| Sayar Kumari Mangilal | 5.89% | unchanged |
| Vijayshree Lunawath | 5.89% | unchanged |
| Shubh Gattani | 3.31% | unchanged |
| Anushree Lunawath | 2.20% | unchanged |
| Pg Foils Limited | 1.62% | −0.49 pp |
| Founders Collective Fund AIF | 1.56% | unchanged |
| Rutvi Chaudhary | 1.12% | newly disclosed |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Esprit Stones
Guides on how to read this kind of business and the numbers that matter.