🪨 Glittek Granites: Dead Stone Turns Cash Machine After ₹31 Cr Other Income Plot Twist
Date of Publishing -
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At a Glance
Once a sleepy granite exporter, Glittek just shocked Dalal Street by reporting ₹26 Cr PAT in FY25—on ₹2 Cr sales. How? Not by selling stone, but by offloading real estate and bank debt. From -₹6 Cr losses to +₹6.8 Cr profits, and zero debt—this turnaround is either genius or a one-time anomaly. Let’s dig in.
1. 🧱 Introduction with Hook
What happens when your core business dies but your land survives? You sell the land. Repay the bank. Book a ₹31 Cr other income. And boom: Glittek Granites is suddenly the hottest penny stock this side of Hosur.
The stock is up 240%+ in a year, ROE = 83%, ROCE = 51%, and sales = LOL.
2. 🧰 WTF Do They Even Do?
Glittek is a manufacturer and exporter of granite slabs, tiles, and engineered stones.
Based in Karnataka, it exports to Europe, USA, and the Middle East.
Offers finishes like mirror-polish, flamed, honed, and leathered (no, not your ex’s Instagram filter).
🪨 But here’s the plot twist: Sales have collapsed from ₹40 Cr in FY14 to ₹2 Cr in FY25.
