Varroc Engineering Ltd

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

Varroc Engineering Ltd

₹ 566 -0.52%
05 Dec 10:23 a.m.
varrocgroup.com BSE: 541578 NSE : VARROC
About

Varroc Engineering Ltd was incorporated in 1988, is the flagship company of the Aurangabad-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
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Key Points

Brand Reputation
It is the 2nd largest Indian auto component group and a tier-1 manufacturer and supplier to Indian 2-wheeler and 2-wheeler OEMs
It is the 6-largest global exterior automotive lighting manufacturer and one of the top 3 independent exterior lighting players.[1]

Website BSE NSE
  • Market Cap ₹ 8,648 Cr.
  • Current Price ₹ 566
  • High / Low ₹ 589 / 239
  • Stock P/E 52.0
  • Book Value ₹ 67.7
  • Dividend Yield 0.00 %
  • ROCE 8.13 %
  • ROE -55.9 %
  • Face Value ₹ 1.00
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Pros

  • Debtor days have improved from 67.0 to 31.8 days.

Cons

  • Stock is trading at 8.40 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -7.76% over past five years.
  • Company has a low return on equity of -36.9% over last 3 years.

* 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

Sector: Auto Ancillaries Industry: Auto Ancillaries

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023
2,916 3,493 1,504 1,195 1,509 1,489 1,652 1,628 1,834 1,717 1,690 1,806 1,887
2,673 3,266 1,567 1,347 1,395 1,414 1,547 1,515 1,690 1,582 1,534 1,623 1,693
Operating Profit 243 226 -63 -152 114 74 105 114 144 135 156 183 194
OPM % 8% 6% -4% -13% 8% 5% 6% 7% 8% 8% 9% 10% 10%
32 -77 41 8 -288 -255 -243 -71 -763 10 30 -9 15
Interest 44 38 23 21 25 35 37 38 49 51 53 49 50
Depreciation 227 225 69 69 73 79 84 85 77 82 92 80 85
Profit before tax 4 -113 -114 -234 -272 -295 -258 -81 -745 11 41 44 74
Tax % 1,034% -21% -27% 2% -9% -0% -10% -4% -7% -91% 3% 23% 25%
-39 -137 -144 -229 -297 -295 -285 -84 -795 22 40 34 56
EPS in Rs -2.97 -10.29 -9.52 -15.07 -19.52 -19.37 -18.67 -5.55 -52.03 1.34 2.59 2.11 3.55
Raw PDF

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 TTM
6,770 7,909 9,299 10,279 12,036 11,122 4,374 5,844 6,863 7,099
6,206 7,341 8,716 9,398 10,978 10,306 4,036 5,484 6,316 6,431
Operating Profit 564 568 582 881 1,059 816 338 360 547 668
OPM % 8% 7% 6% 9% 9% 7% 8% 6% 8% 9%
229 73 172 108 122 94 -556 -996 -793 45
Interest 475 -43 90 86 97 139 89 118 190 203
Depreciation 254 292 337 386 566 732 274 305 337 339
Profit before tax 63 392 327 516 519 39 -581 -1,059 -773 171
Tax % 73% 6% 4% 13% 17% 94% -8% -5% -6%
17 370 313 451 429 3 -629 -1,107 -817 152
EPS in Rs 16.06 353.36 254.29 36.57 31.54 0.01 -41.36 -72.64 -53.66 9.59
Dividend Payout % 16% 1% 13% 1% 14% 21,284% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: -8%
3 Years: -15%
TTM: 8%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 298%
Stock Price CAGR
10 Years: %
5 Years: -4%
3 Years: 9%
1 Year: 94%
Return on Equity
10 Years: %
5 Years: -17%
3 Years: -37%
Last Year: -56%

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 Sep 2023
Equity Capital 10 10 11 12 13 13 15 15 15 15
Reserves 1,073 1,737 2,172 2,815 3,053 2,991 3,013 1,973 961 1,019
Preference Capital 0 17 2 1 0 0 0 0 0
1,651 1,600 1,508 1,193 2,432 4,255 3,695 1,625 1,806 1,442
1,695 1,886 2,156 2,782 3,142 3,644 4,369 7,375 1,832 1,872
Total Liabilities 4,428 5,233 5,847 6,802 8,641 10,904 11,092 10,989 4,614 4,349
2,054 2,390 2,396 2,804 3,560 5,283 5,231 2,046 2,051 2,064
CWIP 178 315 293 344 999 790 856 140 135 79
Investments 22 12 293 360 362 330 376 388 421 396
2,174 2,515 2,867 3,294 3,720 4,500 4,629 8,416 2,007 1,810
Total Assets 4,428 5,233 5,847 6,802 8,641 10,904 11,092 10,989 4,614 4,349

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
128 290 676 1,075 474 1,414 474 636 661
-286 -575 -577 -545 -1,769 -1,259 -613 -762 -422
70 386 94 -523 1,129 733 -152 -335 -216
Net Cash Flow -87 101 193 6 -166 888 -292 -461 22

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
Debtor Days 58 55 45 50 41 36 137 32 32
Inventory Days 51 49 46 49 43 56 164 58 55
Days Payable 90 92 94 114 99 124 396 127 99
Cash Conversion Cycle 19 12 -3 -15 -15 -32 -95 -36 -12
Working Capital Days 22 21 7 -4 -13 -38 -38 65 -11
ROCE % 11% 12% 16% 13% 3% 3% 2% 8%

Shareholding Pattern

Numbers in percentages

2 Recently
Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
85.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
2.31% 5.21% 4.91% 4.00% 3.48% 3.92% 3.28% 3.51% 4.67% 5.04% 5.07% 5.00%
6.07% 14.69% 14.31% 13.82% 14.18% 14.92% 15.07% 14.31% 12.23% 12.02% 12.21% 12.43%
6.62% 5.10% 5.78% 7.18% 7.34% 6.16% 6.65% 7.18% 8.11% 7.94% 7.73% 7.58%
No. of Shareholders 55,88854,49266,81570,82768,09068,08280,83178,87785,62387,12684,43381,789

* 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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