Varroc Engineering Ltd

Varroc Engineer Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Varroc Engineering Ltd

₹ 476 1.69%
01 Apr 3:34 p.m.
varrocgroup.com BSE: 541578 NSE: VARROC
About

Varroc Engineering Ltd was incorporated in 1988, is the flagship company of the Chhatrapati Sambhaji Nagar-based Varroc Group. Varroc is a global tier-1 automotive component group. It is engaged in the business of manufacturing and supplying automobile components to a wide range of OEMs across the globe[1]

Key Points

History[1]
The Group was initially established as a captive unit for Bajaj Auto Limited's auto components and gradually diversified by adding new customers and products to its portfolio.

Website BSE NSE
  • Market Cap ₹ 7,273 Cr.
  • Current Price ₹ 476
  • High / Low ₹ 695 / 365
  • Stock P/E 29.2
  • Book Value ₹ 110
  • Dividend Yield 0.20 %
  • ROCE 17.1 %
  • ROE 7.37 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 298% CAGR over last 5 years

Cons

  • Stock is trading at 4.30 times its book value
  • The company has delivered a poor sales growth of -6.02% over past five years.
  • Company has a low return on equity of -4.70% over last 3 years.
  • Company's cost of borrowing seems high

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Automobile and Auto Components Auto Components Auto Components & Equipments

Part of BSE Allcap BSE Consumer Discretionary Nifty Microcap 250 Nifty Total Market Nifty EV & New Age Automotive

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
1,723 1,699 1,806 1,887 1,885 1,975 1,899 2,081 2,075 2,099 2,028 2,207 2,288
1,582 1,534 1,623 1,693 1,709 1,754 1,725 1,873 1,889 1,878 1,833 2,004 2,078
Operating Profit 141 165 183 194 176 221 174 208 186 221 195 203 210
OPM % 8% 10% 10% 10% 9% 11% 9% 10% 9% 11% 10% 9% 9%
4 21 -9 15 34 12 6 7 -88 -51 67 3 -100
Interest 51 53 49 50 50 45 44 43 42 41 36 32 31
Depreciation 82 92 80 85 89 82 80 82 81 81 81 83 82
Profit before tax 11 41 44 74 71 105 56 91 -25 47 144 92 -3
Tax % -91% 3% 23% 25% -443% 44% 39% 36% 82% 51% 25% 31% 245%
22 40 34 56 384 58 34 58 -45 23 107 63 -11
EPS in Rs 1.34 2.59 2.11 3.55 25.05 3.72 2.12 3.64 -3.10 1.35 6.88 3.99 -0.67
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
6,770 7,909 9,299 10,279 12,036 11,122 4,374 5,844 6,891 7,552 8,154 8,622
6,206 7,341 8,716 9,398 10,978 10,306 4,036 5,484 6,316 6,796 7,379 7,793
Operating Profit 564 568 582 881 1,059 816 338 360 575 756 775 828
OPM % 8% 7% 6% 9% 9% 7% 8% 6% 8% 10% 10% 10%
229 73 172 108 122 94 -556 -996 -821 69 -112 -81
Interest 475 -43 90 86 97 139 89 118 190 194 170 140
Depreciation 254 292 337 386 566 732 274 305 337 337 323 327
Profit before tax 63 392 327 516 519 39 -581 -1,059 -773 294 169 280
Tax % 73% 6% 4% 13% 17% 94% 8% 5% 6% -81% 59%
17 370 313 451 429 3 -629 -1,107 -817 532 70 182
EPS in Rs 16.06 353.36 254.29 36.57 31.54 0.01 -41.36 -72.64 -53.66 34.43 4.01 11.55
Dividend Payout % 16% 1% 13% 1% 14% 21,284% 0% 0% 0% 0% 25%
Compounded Sales Growth
10 Years: 2%
5 Years: -6%
3 Years: 12%
TTM: 7%
Compounded Profit Growth
10 Years: 45%
5 Years: 298%
3 Years: 28%
TTM: 48%
Stock Price CAGR
10 Years: %
5 Years: 4%
3 Years: 23%
1 Year: 9%
Return on Equity
10 Years: -2%
5 Years: -20%
3 Years: -5%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 10 10 11 12 13 13 15 15 15 15 15 15
Reserves 1,073 1,737 2,172 2,815 3,053 2,991 3,013 1,973 961 1,482 1,550 1,669
1,651 1,617 1,510 1,194 2,432 4,255 3,695 1,625 1,806 1,390 1,118 915
1,695 1,869 2,154 2,780 3,142 3,644 4,369 7,375 1,832 1,643 1,984 2,174
Total Liabilities 4,428 5,233 5,847 6,802 8,641 10,904 11,092 10,989 4,614 4,530 4,667 4,773
2,054 2,390 2,396 2,804 3,560 5,283 5,231 2,046 2,051 2,027 2,016 2,165
CWIP 178 315 293 344 999 790 856 140 135 80 103 115
Investments 22 12 293 360 362 330 376 388 421 530 69 79
2,174 2,515 2,867 3,294 3,720 4,500 4,629 8,416 2,007 1,893 2,479 2,414
Total Assets 4,428 5,233 5,847 6,802 8,641 10,904 11,092 10,989 4,614 4,530 4,667 4,773

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
128 290 676 1,075 474 1,414 474 636 686 638 737
-286 -575 -577 -545 -1,769 -1,259 -613 -762 -448 -166 -245
70 386 94 -523 1,129 733 -152 -335 -216 -664 -490
Net Cash Flow -87 101 193 6 -166 888 -292 -461 22 -192 1
Free Cash Flow -222 -309 52 497 -951 27 -254 -208 116 420 465
CFO/OP 33% 58% 125% 136% 57% 189% 146% 197% 135% 92% 94%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 58 55 45 50 41 36 137 32 32 24 30
Inventory Days 51 49 46 49 43 56 164 58 55 52 51
Days Payable 90 92 94 114 99 124 396 127 99 94 98
Cash Conversion Cycle 19 12 -3 -15 -15 -32 -95 -36 -12 -19 -16
Working Capital Days 22 21 -17 -16 -49 -96 -217 -18 -77 -33 -35
ROCE % 11% 12% 16% 13% 3% 3% 2% 8% 17% 17%

Insights

In beta
Mar 2022 Mar 2023 Mar 2024 Mar 2025
Customer Concentration (Bajaj Auto)
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Revenue Contribution from EV Models
%
Net New Annual Peak Revenue Order Wins
INR Million
Number of Distributors (Aftermarket)
Number ・Standalone data
Number of Operating Manufacturing Facilities
Number
Total Employees
Number
Total Patents Filed
Number
Capacity Utilisation
%
R&D Expenditure (Percentage of Turnover)
% ・Standalone data

Shareholding Pattern

Numbers in percentages

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
5.04% 5.07% 5.00% 4.57% 4.22% 4.24% 3.80% 3.89% 3.92% 3.99% 4.30% 4.36%
12.02% 12.21% 12.43% 11.44% 12.15% 12.74% 12.65% 12.49% 12.79% 13.03% 12.75% 12.40%
7.94% 7.73% 7.58% 8.99% 8.64% 8.04% 8.54% 8.62% 8.30% 7.99% 7.97% 8.23%
No. of Shareholders 87,12684,43381,78988,08086,73889,54999,50098,41795,59491,28788,84185,292

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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