Varroc Engineering Ltd.
Snapshot View

337.90 +5.75 ▲1.7%

05 August 2021, 04:00:00 P.M.
Volume: 11,436

Overview View Details

Sector Automobile & Ancillaries Compare with Sector peers
Industry Auto Ancillary Compare with Industry peers
Website http://www.varrocgroup.com
Financial Indicators
Market Cap 5,141.26 Cr.
Earnings per share (EPS) -41.36 Trailing Twelve Months Ending 2021-03
Price-Earning Ratio (PE) - Trailing Twelve Months Ending 2021-03
Industry PE 71.33 Trailing Twelve Months Ending 2021-03
Book Value / Share 198.18 Trailing Twelve Months Ending 2021-03
Price to Book Value 1.70 Calculated using Price: 336.50
Dividend Yield 0.00 Period Ending 2020-03
No. of Shares Subscribed 15.28 Cr. 152,786,400 Shares
FaceValue 1
Company Profile

Varroc Engineering Ltd. is a global tier-1 automotive component group. It commenced operations in India with its Polymer business in 1990. it design, manufacture and supply exterior lighting systems, plastic and polymer components, electrical-electronics components, and precision metallic components to passenger car, commercial vehicle, two-wheeler, three-wheeler and off-highway vehicle (OHV) OEMs directly worldwide. It is the second largest Indian auto component group (by consolidated revenue for FY 2017) and a leading tier-1 manufacturer and supplier to Indian two-wheeler and three-wheeler OEMs (by consolidated revenue for FY 2017). It offers the best design solutions that provides its customers a competitive edge in their markets. This has helped Varroc place itself as the most preferred partner with all leading OEMs in the automotive segment across the world.

Business area of the company

The Company is focused on designing, manufacturing and supplying exterior lighting systems, plastic and polymer components, and electrical and electronics components. It also supplies precision metallic components to passenger car, commercial vehicle, two-heeler, three-wheeler and off highway vehicle (OHV). The Company's segments include Polymer, Electrical, Engine valve, Forged components, and Lighting.

Awards

  • 2014: Received the ‘New Part Development Award’ by Honda Motorcycle and Scooter India Private Limited
  • 2014: Named as one of the ‘Top 100 Companies’ in Czech Republic
  • 2014: Named as one of the ‘Top 100 Companies’ in Czech Republic
  • 2015: Won the ‘PSA Best Plant Award’
  • 2016: Awarded the ‘Emerging Manufacturing Giant’ by the honourable Chief Minister of Maharashtra, India, Mr. Devendra Fadnavis, on behalf of Indian Merchant Chambers
  • 2016: Given the ‘Supplier Quality Excellence Award’ by General Motors
  • 2016: Awarded ‘Emerging Manufacturing Giant’ by the chief minister of Maharashtra, India, Mr. Devendra Fadnavis, on behalf of Indian Merchant Chambers
  • 2017: National Safety Council awarded it for ‘Lowest average frequency accident rate and zero accident frequency rate’
  • 2017: Jaguar Land Rover bestowed it with the ‘Global Supplier of the Year Award’
  • 2017: Received the ‘FCA Innovation Award’ for Dodge Challenge Head Lamp 193
  • 2017: Won the ‘2016 General Motors Quality Excellence award
  • 2017: Claimed the ‘Ford Q1 Award’- Only 2nd lighting supplier in China to receive this award
  • 2017: Awarded for ‘Overall Performance Of The Year’ by Maruti Suzuki
  • 2017: Presented with an award for ‘Electrical and Electronics Excellence in Automotive Lighting’ by the International Centre For Automotive Technology
  • 2017: Bagged the ‘Electronics Co. Of The Year’ award by ELCINA
  • 2018: Handed the ‘Best Quality Award’ by FCA
  • 2018: Mr. Tarang Jain, Managing Director, has been inducted into the ‘Automotive Hall of Fame’ at the ET Polymers Global Conference on Plastics in Automotive
  • 2019: Varroc Polymer plant team bagged 2 OHS-India Safety Awards for Innovation and Excellence
  • 2019: Varroc’s Paper on ‘ELECTRICAL MOBIITY’ has been awarded the ‘BEST PAPER’ at the SIAT 2019
  • 2019: Varroc’s Polymer division bagged the ‘Award for Delivery Management 2018-19’ at the Annual Supplier Conference of Honda Two-wheelers Ltd.
  • 2019: Varroc’s polymer division recognized by Volvo Eicher Commercial Vehicles (VECV) with Outstanding Contribution in New Product Development award
  • 2019: Performance Award for ‘Incoming Quality Improvement’ at Suzuki Motorcycles India Pvt. Ltd.’s 2019 Suppliers’ Meet.
  • 2019: Varroc Polymer Business recognized for ‘Excellence in Delivery’ by Mahle Behr India Pvt Ltd., during their Supplier Meet 2019

Milestones

  • 1990: Began journey through Polymer business
  • 1996: Emergence of Electrical-Electronics business unit
  • 1997: Engine Valves manufacturing
  • 2000: Established as 'Supplier of Choice' for Bajaj Electronics Pvt. Ltd.
  • 2004: Emergence of Metallic Forgings business unit
  • 2005: Formed Varroc Exhaust System Pvt. Ltd. for two-wheeler & three-wheeler catalytic converters
  • 2007: Acquired first overseas company - IMES (Italy), a forging business
  • 2011: Acquired TRIOM (Italy), a hi-end lighting systems player for global two-wheelers
  • 2012: Acquired Visteon's Global PV Lighting Business
  • 2014: Received Investment by Omega TC Holdings Pte. Ltd. and Tata Capital Financial Services Limited
  • 2014: Acquired 50% stake in Varroc TYC Corporation BVI (China)
  • 2015: Signed a letter of intent with Heraeus, Germany based technology group, for catalytic converters for two-wheelers in India
  • 2015: Acquired Sa-Ba, an exterior automotive lighting company in Turkey
  • 2015: Developed Electronic Fuel-injection Technology for two-wheelers and three-wheelers in India
  • 2015: Varroc Engineering Ltd. got listed on BSE and NSE
  • 2015: Announced intention to set up two new manufacturing facilities in Chennai, India and Poland to further expand globally
  • 2019: Acquisition of 74% stake in CarIQ, a leading telematics solutions provider (August 2019)
  • 2019: Morocco and Brazil facilities started in February/March 2019.
  • 2020: Varroc Engineering’s wholly-owned subsidiary -- VarrocCorp Holding B.V., the Netherlands (VCHBV) has acquired balance 30% stake i.e. 60,000 equity shares of Varroc-Elba Electronics S.R.L (Varroc Elba) held by the other JV Partner, ELBA SA, Romania for an aggregate consideration of Euro 1.05M.
  • 2020: Varroc Engineering’s overseas Wholly Owned Subsidiary (WOS) -- Aries Mentor Holding B.V. (AMHBV) situated in Netherlands has merged with VarrocCorp Holding B.V. (VCHBV), WOS of the company with effect from March 4, 2020.

Delivery View Details

Delivered Qty
Traded Qty

Performance View Details

1 Day
+1.73%
1 Week
-0.95%
1 Month
-10.67%
3 Month
-9.91%
6 Month
-24.44%
1 Year
+57.60%
2 Year
-19.65%
5 Year
8 years 2013-03 2014-03 2015-03 2016-03 2017-03 2018-03 2019-03 2020-03
Return on Equity (%) -3.67 4.83 1.57 26.15 11.92 15.24 13.48 0.38
Return on Capital Employed (%) 4.52 8.95 21.93 15.62 9.58 13.80 12.25 3.12
Return on Assets (%) -0.77 1.17 0.40 7.66 4.23 6.06 5.19 0.12

Balance Sheet View Details

Particulars 8 years 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr.
Shh. Funds 711 1,095 1,082 1,763 2,185 2,828 3,066 3,005
Non Curr. Liab. 1,004 762 1,183 889 847 728 686 1,758
Curr. Liab. 1,658 2,078 2,142 2,560 2,795 3,173 4,771 5,997
Minority Int. 23 31 21 20 20 21 24 25
Equity & Liab. 3,396 3,966 4,428 5,233 5,847 6,749 8,548 10,784
Non Curr. Assets 1,686 1,944 2,411 2,874 3,129 3,689 5,210 6,643
Curr. Assets 1,710 2,022 2,017 2,359 2,718 3,060 3,338 4,141
Misc. Exp. not W/O
Total Assets 3,396 3,966 4,428 5,233 5,847 6,749 8,548 10,784

Profit Loss View Details

Particulars 8 years 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr.
Net Sales 4,210 6,116 6,770 7,909 9,299 10,279 12,036 11,122
Other Income 15 23 88 148 94 39 91 99
Total Income 4,225 6,140 6,858 8,057 9,393 10,317 12,127 11,221
Total Expenditure -3,958 -5,717 -6,153 -7,338 -8,717 -9,398 -10,978 -10,301
PBIDT 267 423 705 719 675 919 1,150 920
Interest -84 -101 -475 -84 -90 -86 -97 -139
Depreciation -179 -238 -254 -292 -337 -386 -566 -732
Taxation -30 -41 -47 -22 -14 -65 -90 -37
Exceptional Items 88 50
PAT -26 43 17 370 234 382 397 12

Cash Flow View Details

Particulars 8 years 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr.
Cash Fr. Operatn. 348 460 128 290 677 1,075 474 1,414
Cash Fr. Inv. -705 -341 -245 -579 -565 -601 -1,757 -1,268
Cash Fr. Finan. 434 -81 70 386 94 -523 1,129 733
Net Change 77 38 -47 98 205 -50 -154 879
Cash & Cash Eqvt 168 235 11 112 305 312 146 1,033

Shareholding Pattern View Details

9 Qtrs 2019-06 (%) 2019-09 (%) 2019-12 (%) 2020-03 (%) 2020-06 (%) 2020-09 (%) 2020-12 (%) 2021-03 (%) 2021-06 (%)
Promoter 85.00 85.00 85.00 85.00 85.00 85.00 85.00 75.00 75.00
Public 15.00 15.00 15.00 15.00 15.00 15.00 15.00 25.00 25.00
Depository Receipts 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Promoter Holding Pledge (%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Announcements View Details

Wed, 04 Aug 2021
Announcement under Regulation 30 (LODR)-Newspaper Publication
We hereby enclose copies of newspaper advertisement published in the Business Standard (English) and Loksatta (Marathi) in respect of Notice of 33rd AGM scheduled to be held on Wednesday August 25 2021.

Further in compliance with the applicable circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India the Company has sent Notice of 33rd AGM alongwith Annual Report for FY 2020-21 only by electronic mode on Wednesday August 3 2021 to all the Members whose email addresses are registered with the Depository Participants or the Company.

Tue, 03 Aug 2021
Reg. 34 (1) Annual Report
Pursuant to the Regulation 34(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 we enclose herewith the following for your information and records:

1. Notice of the 33rd AGM of the Company scheduled to be held on Wednesday August 25 2021 at 11:00 a.m. (IST) through Video Conference (VC)/Other Audio-Visual Means (OAVM) without physical presence of the members; and
2. Annual Report for the Financial year ended March 31 2021.
Tue, 03 Aug 2021
Notice Of The 33Rd AGM Of The Company Scheduled To Be Held On Wednesday August 25 2021
Pursuant to the Regulation 34(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 we enclose herewith the following for your information and records:

1. Notice of the 33rd AGM of the Company scheduled to be held on Wednesday August 25 2021 at 11:00 a.m. (IST) through Video Conference (VC)/Other Audio-Visual Means (OAVM) without physical presence of the members; and
2. Annual Report for the Financial year ended March 31 2021.

Technical Scans View Details

Thu, 05 Aug 2021
Making Lower Lows for 3 days Making Lower Lows for 3 days
CCI Bullish CCI Bullish
MFI Bullish MFI Bullish
William %R Bullish William %R Bullish
Wed, 04 Aug 2021
Higher Delivery Quantity Higher Delivery Quantity

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