Varroc Engineering Ltd

About

Varroc Engg. is engaged in the business of manufacturing of Automobile components.

  • Market Cap 3,874 Cr.
  • Current Price 287
  • High / Low 525 / 119
  • Stock P/E
  • Book Value 223
  • Dividend Yield 1.04 %
  • ROCE 2.85 %
  • ROE 0.05 %
  • Face Value 1.00

Pros

  • Company has been maintaining a healthy dividend payout of 7099.95%

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor growth of 10.44% over past five years.
  • Company has a low return on equity of 10.33% for last 3 years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.138.81 Cr.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
2,419 2,540 2,985 2,927 3,001 2,955 3,153 2,870 2,703 2,804 2,745 1,275
2,200 2,339 2,737 2,702 2,697 2,688 2,890 2,601 2,487 2,542 2,687 1,465
Operating Profit 219 201 248 225 304 267 263 269 216 262 57 -190
OPM % 9% 8% 8% 8% 10% 9% 8% 9% 8% 9% 2% -15%
Other Income 20 36 33 39 26 24 34 29 11 18 49 61
Interest 22 18 25 23 21 27 26 31 35 37 36 43
Depreciation 95 93 107 106 166 140 153 165 166 194 207 207
Profit before tax 122 126 149 134 142 124 118 102 26 49 -137 -380
Tax % 24% 7% 4% 25% 30% 19% -9% 14% 10% 40% -0% 19%
Net Profit 93 117 142 100 98 99 128 87 22 29 -138 -308
EPS in Rs 75.19 102.06 11.56 7.45 7.29 7.35 9.52 6.44 1.66 2.13 -10.20 -22.83
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
6,770 7,909 9,299 10,279 12,036 11,122 9,526
6,153 7,338 8,717 9,398 10,978 10,307 9,182
Operating Profit 617 571 582 881 1,059 815 344
OPM % 9% 7% 6% 9% 9% 7% 4%
Other Income 176 70 173 108 122 96 139
Interest 475 -43 90 86 97 139 151
Depreciation 254 292 337 386 566 732 774
Profit before tax 63 392 327 516 519 39 -442
Tax % 73% 6% 4% 13% 17% 94%
Net Profit 17 370 313 450 425 0 -394
EPS in Rs 16.06 353.36 254.29 36.57 31.54 0.01 -29.24
Dividend Payout % 16% 1% 13% 1% 14% 21,284%
Compounded Sales Growth
10 Years:%
5 Years:10%
3 Years:6%
TTM:-20%
Compounded Profit Growth
10 Years:%
5 Years:-11%
3 Years:-83%
TTM:-195%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:-41%
Return on Equity
10 Years:%
5 Years:13%
3 Years:10%
Last Year:0%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
10 26 13 13 13 13
Reserves 1,073 1,737 2,172 2,815 3,053 2,991
Borrowings 1,651 1,600 1,508 1,193 2,432 4,255
1,695 1,886 2,156 2,782 3,142 3,644
Total Liabilities 4,428 5,233 5,847 6,802 8,641 10,904
2,054 2,390 2,396 2,804 3,560 5,283
CWIP 178 315 293 344 999 790
Investments 22 12 293 360 362 330
2,174 2,515 2,867 3,294 3,720 4,500
Total Assets 4,428 5,233 5,847 6,802 8,641 10,904

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
128 290 676 1,075 474 1,414
-286 -575 -577 -545 -1,769 -1,259
70 386 94 -523 1,129 733
Net Cash Flow -87 101 193 6 -166 888

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 11% 12% 16% 13% 3%
Debtor Days 58 55 45 50 41 36
Inventory Turnover 8.25 8.67 8.15 8.91 7.34

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
85.00 85.00 85.00 85.00 85.00 85.00 85.00 85.00 85.00
6.92 6.56 6.77 4.67 5.23 4.89 2.66 0.27 0.66
5.77 5.85 5.76 7.52 7.40 7.60 9.41 7.91 7.65
2.31 2.59 2.47 2.81 2.37 2.51 2.93 6.82 6.69

Documents