Varroc Engineering Ltd.
NSE: VARROC · Automobile & Ancillaries
Sector
Automobile & Ancillaries
Size band
Small cap
Market cap
7,244cr
P/E
24.8
ROE
16.7%
Dividend yield
0.2%
No price is shown on this page, live or delayed. It records what management said on the earnings call, and the company’s filings.
Measured against
Peer set
Auto Ancillaries · largest 12 of 34 measured at Q1 FY27 · financials via Screener| Company | Operating margin | Revenue growth |
|---|---|---|
| Bosch Ltd. | 14.0% | 22.0% |
| Motherson Sumi Wiring India Ltd. | 8.0% | 36.6% |
| JBM Auto Ltd. | 11.0% | 15.0% |
| Gabriel India Ltd. | 9.0% | 15.6% |
| OLA Electric Mobility Ltd. | −36.0% | −45.0% |
| ASK Automotive Ltd. | 12.0% | 52.4% |
| Varroc Engineering Ltd. | 8.0% | 29.9% |
| Diamond Power Infrastructure Ltd. | 11.0% | 128.5% |
| Pricol Ltd. | 11.0% | 23.5% |
| LG Balakrishnan & Bros Ltd. | 13.0% | 21.6% |
| SJS Enterprises Ltd. | 29.0% | 24.3% |
| Jamna Auto Industries Ltd. | 14.0% | 6.6% |
What management said
13 statements on recordEarnings call · Financial year ended March 31, 2026 / FY27 and FY31 outlook · 21 Aug 2026
- Revenue→FY27 revenue to exceed INR10,500 crores; anticipated growth of around 20%· FY27
“In financial year '26, we delivered revenues of approximately INR8,900 crores and in FY27, we expect the revenue to exceed INR10,500 crores reflecting an anticipated growth of around 20%.”
- Revenue→INR20,000 crores revenue by FY31; CAGR of approximately 17.5% over the next four years· FY31
“To achieve our aspiration of INR20,000 crores revenue by FY31, we need to deliver a CAGR of approximately 17.5% over the next four years.”
- Overseas revenue contribution→Nearly INR4,000 crores or about 20% of group revenue· FY31
“Our overseas operations already have a robust order book which gives us confidence that they can contribute nearly INR4,000 crores or about 20% of the group revenue by FY31.”
- Romania electronics revenue→INR2,500 crores to INR3,000 crores· FY31
“Within this, the Romania electronics business has a potential to generate revenues of INR2,500 crores to INR3,000 crores while the two-wheeler and the four-wheeler overseas lighting businesses can contribute around INR1,000 crores to INR1,200 crores.”
- Overseas two-wheeler and four-wheeler lighting revenue→Around INR1,000 crores to INR1,200 crores· FY31
“Within this, the Romania electronics business has a potential to generate revenues of INR2,500 crores to INR3,000 crores while the two-wheeler and the four-wheeler overseas lighting businesses can contribute around INR1,000 crores to INR1,200 crores.”
- Remaining overseas businesses revenue→Another INR300 crores to INR500 crores of revenue· FY31
“The remaining overseas businesses could add another INR300 crores to INR500 crores of revenue.”
- India revenue→Approximately INR16,000 crores; required CAGR of approximately 15.5% over the next five years· FY31
“This leaves approximately INR16,000 crores to be achieved from our India operations. In financial year '26, our India business generated revenues of around INR8,000 crores implying a required CAGR of approximately 15.5% over the next five years.”
- E-mobility growth→Potentially exceeding 40% growth rates
“We expect this segment to grow significantly, potentially exceeding 40% growth rates driven by the increasing adoption of electric vehicles.”
- Overseas electronics profitability→EBITDA neutral position· By the end of FY27
“On the back of strong order wins, overseas electronics is expected to reach EBITDA neutral position by the end of financial year '27.”
- Capex→Close to INR550 crores; nearly INR200 crores plus in overseas markets· FY27
“So this year we will be spending capex of about close to INR550 crores. Out of this, nearly INR200 crores plus will be spent in the overseas markets.”
- Overseas revenue capacity enabled by capex→INR1,500 crores to INR2,000 crores levels of revenue in overseas markets
“This will enable us to ramp up capacities towards about INR1,500 crores to INR2,000 crores levels of revenue in the overseas markets.”
- Capex→INR300 crores to INR350 crores· Coming years
“In the coming years, our capex will be controlled more and of course be in the range of about INR300 crores to INR350 crores and most of this capex will of course go in domestic market towards e-mobility space, injection molding and lighting areas.”
- Debt→Reduce it significantly· By end of FY28
“But by end of FY28, we should be able to reduce it significantly supported by strong free cash flows.”
Taken from management commentary on the company’s earnings call and quoted verbatim. These are statements of intent made by the company, not forecasts by Bharatstox, and nothing here records whether they were met.
On air
6 calls · outcomes not trackedRecorded as stated on air, with the analyst's SEBI registration status where it was given. Anchor calls carry no registration and are marked. Bharatstox does not make, endorse or repeat these calls, and none of them is our view.
| Channel & show | Aired | Stated target | Stated stop | Outcome |
|---|---|---|---|---|
| NDTV ProfitNDTV Profit · no registration attached | 1 Oct | +41.4% | — | still open |
| CNBC AwaazCNBC Awaax · no registration attached | 11 Sep | +10.6% | -3.2% | still open |
| Zee BusinessZee Business · no registration attached | 11 Sep | +12.0% | -4.4% | still open |
| Zee BusinessZee Business · no registration attached | 11 Sep | +7.5% | -4.4% | still open |
| CNBC AwaazCNBC Awaax · no registration attached | 10 Sep | +5.5% | -2.4% | still open |
| CNBC AwaazCNBC Awaax · no registration attached | 10 Sep | +8.7% | -4.9% | still open |
Shareholding
change across 4 filings| Category | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Change |
|---|---|---|---|---|---|
| Promoters | 75.0 | 75.0 | 75.0 | 75.0 | 0.0 |
| Foreign institutions | 4.5 | 4.3 | 4.5 | 4.4 | +0.1 |
| Domestic institutions | 10.8 | 11.2 | 11.4 | 12.4 | −1.6 |
| Retail & others | 9.7 | 9.5 | 9.2 | 8.2 | +1.5 |
As filed with the exchange for the periods ending Dec 25 to Sep 26.
Filings
latest 25 of 485- Press Release16 Oct 2026
- Outcome of Board Meeting16 Oct 2026
- Action(s) taken or orders passed14 Oct 2026
- Certificate under SEBI (Depositories and Participants) Regulations, 20187 Oct 2026
- Statement of deviation(s) or variation(s) under Reg. 322 Oct 2026
- General Updates2 Oct 2026
- General Updates2 Oct 2026
- Disclosure of material issue30 Sept 2026
- General Updates28 Sept 2026
- General Updates24 Sept 2026
- Allotment of Securities24 Sept 2026
- Closure of Trading Window14 Sept 2026
- Trading Window14 Sept 2026
- ESG Rating9 Sept 2026
- Credit Rating- New9 Sept 2026
- Credit Rating- New8 Sept 2026
- ESG RATING UPGRADE BY CRISIL8 Sept 2026
- Action(s) initiated or orders passed28 Aug 2026
- Update on ongoing Litigation28 Aug 2026
- Analysts/Institutional Investor Meet/Con. Call Updates25 Aug 2026
- Cancellation of Investor Meet scheduled on August 27, 202625 Aug 2026
- Analysts/Institutional Investor Meet/Con. Call Updates24 Aug 2026
- Schedule of Investor Meet24 Aug 2026
- General Updates21 Aug 2026
- Disclosure of material issue21 Aug 2026
The 25 most recent of 485 filings we hold for VARROC, back to January 2024. Every filing, by day.
Disclaimer
Guidance is quoted from management commentary on quarterly earnings calls; the words are the company's own and the targets are theirs, not ours. Peer comparisons use quarterly financials sourced from Screener, with every company measured at the same fiscal quarter; the peer set is companies sharing the same industry classification, and comparisons are descriptive, not a ranking or a view. Broadcast calls are reproduced as stated on air, attributed, with the analyst's SEBI registration status where given; they are not our calls and not our view. Filings are reproduced as companies filed them to the NSE and BSE; Bharatstox does not verify, endorse or comment on their contents. This page is for informational and educational purposes only and does not constitute investment advice, research, or a recommendation to buy or sell any security. Investing in securities markets is subject to market risks. Read all related documents carefully before investing.