Varroc Engineering Ltd.
NSE: VARROC · Auto Components & Equipments · sector
₹778.55NSE close 2026-10-26
Key numbers
Market cap₹11,895 cr
Price₹778.55
52w high / low₹912 / ₹462
P/E60.3xSector median 24.3x
P/B6.7xSector median 3.3x
Book value₹116.5
Dividend yield0.13%Sector median 0.55%
ROE11.8%Sector median 14.0%
ROCE17.3%Sector median 15.8%
OPM7.9%Sector median 11.6%
Debt / equity0.41xSector median 0.28x
EV/EBITDA16.5xSector median 13.0x
Interest cover3.4x
Current ratio0.88x
Sales growth 3y+9.0%Sector median +9.0%
Profit growth 3y–Sector median +9.5%
PEG1.27x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 132 companies in Auto Components & Equipments (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹242 cr vs borrowings ₹738 cr (FY26): borrowings are higher by ₹495 cr.
- Borrowings fell in each of the last 3 years (₹1,635 cr → ₹738 cr).
- Operating profit covered interest 3.4x in the last 12 months.
- Operating cash flow was below net profit in 0 of the last 5 years.
- Net loss in 2 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 9% of net profit in the last 12 months.
- Dividend paid in 1 of the last 5 financial years.
- Price ₹778.55 on 2026-10-26: -14.7% from the 52-week high, +68.5% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹846.15 · low ₹400.90
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,081 | 2,075 | 2,099 | 2,028 | 2,207 | 2,288 | 2,368 | 2,634 |
| EBITDA | 208 | 95 | 164 | 256 | 203 | 105 | 222 | 222 |
| OPM % | 10.0% | 4.6% | 7.8% | 12.6% | 9.2% | 4.6% | 9.4% | 8.4% |
| Other income | 7 | 3 | 5 | 5 | 3 | 4 | 6 | 6 |
| Net profit | 56 | -47 | 21 | 105 | 61 | -10 | 69 | 77 |
| EPS (₹) | 3.64 | -3.10 | 1.35 | 6.88 | 3.99 | -0.67 | 4.54 | 5.06 |
| Revenue YoY | +6.1% | +10.2% | +12.8% | +29.9% | ||||
| Profit YoY | +9.5% | – | +236.9% | -26.5% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 5,844 | 6,863 | 7,552 | 8,154 | 8,890 | 9,497 |
| EBITDA | 359 | 547 | 774 | 641 | 786 | 752 |
| Net profit | -1,110 | -820 | 526 | 61 | 225 | 197 |
| EPS (₹) | -72.64 | -53.66 | 34.43 | 4.01 | 14.73 | 12.92 |
| Revenue growth | +17.4% | +10.0% | +8.0% | +9.0% | +14.7% | |
| Profit growth | – | – | -88.4% | +267.5% | +47.3% | |
| Dividend / share (₹) | – | – | – | – | 1.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +9.0% | -4.7% | +14.7% |
| Net profit | – | – | +47.3% |
| EPS | – | – | – |
| Share price | – | +19.3% (2y) | +27.5% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 976 | 1,497 | 1,565 | 1,780 |
| Borrowings | – | 1,635 | 1,209 | 949 | 738 |
| Cash & equivalents | – | 357 | 227 | 201 | 242 |
| Total assets | – | 4,621 | 4,560 | 4,672 | 4,875 |
| Fixed assets | – | 1,932 | 1,916 | 1,924 | 2,140 |
| Capital work in progress | – | 121 | 76 | 100 | 95 |
| Investments | – | 0 | 14 | 15 | 7 |
| Receivables | – | 597 | 492 | 680 | 735 |
| Inventory | – | 671 | 674 | 733 | 933 |
| Payables | – | 1,196 | 1,224 | 1,393 | 1,522 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 636 | 661 | 638 | 737 | 537 |
| Cash from investing | -763 | -260 | -166 | -246 | -123 |
| Cash from financing | -335 | -216 | -664 | -490 | -405 |
| Capex | 854 | 598 | 274 | 289 | 469 |
| Free cash flow | -218 | 62 | 364 | 448 | 68 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | -84.0% | 35.1% | 3.9% | 12.6% |
| ROCE % | – | 10.3% | 17.2% | 13.4% | 18.7% |
| Debtor days | – | 32 | 24 | 30 | 30 |
| Inventory days | – | 55 | 52 | 51 | 60 |
| Payable days | – | 99 | 94 | 98 | 97 |
| Cash conversion cycle (days) | – | -12 | -18 | -17 | -7 |
| Working capital days | – | -58 | -22 | -26 | -13 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 75.00% |
| FIIs | 4.49% |
| DIIs | 10.83% |
| of which Mutual funds | 9.50% |
| of which Insurance | 0.86% |
| Public (non-institutions) | 9.68% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% |
| Promoter group | % |
|---|---|
| Tarang Jain | 39.74% |
| TJ Holding Trust (Mr. Tarang Jain in his capacity as the family trustee of TJ Holding Trust) | 22.16% |
| Arjun Family Trust (Mr. Naresh Chandra in his capacity as the family trustee of Arjun Family Trust) | 6.55% |
| Dhruv Family Trust (Mrs. Suman Jain in her capacity as the family trustee of Dhruv Family Trust) | 6.55% |
| Arjun Tarang Jain | 0.00% |
| Dhruv Jain | 0.00% |
| Rochana Jain | 0.00% |
| Public holders above 1% | % |
|---|---|
| HDFC Mutual Fund - HDFC Transportation and Logistics Fund | 7.94% |
| Government Pension Fund Global | 1.94% |
| Motilal Oswal Small CAP Fund | 1.30% |
84,702 shareholders. Pledged: – of promoter shares.
Peers in Auto Components & Equipments
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| MOTHERSON | ₹1,62,274 cr | 37.0x | 4.0x | 11.6% | 12.9% | 9.3% | +17.0% | 0.44% |
| BOSCHLTD | ₹1,32,455 cr | 56.0x | 8.9x | 16.5% | 21.7% | 13.4% | +10.3% | 1.14% |
| BHARATFORG | ₹82,736 cr | 117.2x | 8.7x | 7.5% | 10.0% | 14.0% | +9.2% | 0.46% |
| UNOMINDA | ₹61,747 cr | 51.3x | 9.0x | 19.1% | 16.6% | 10.9% | +20.5% | 0.27% |
| SCHAEFFLER | ₹54,960 cr | 43.9x | 8.9x | 21.6% | 27.8% | 18.2% | – | – |
| SONACOMS | ₹48,637 cr | 69.8x | 8.1x | 12.0% | 15.2% | 23.6% | +18.7% | 0.41% |
| TIINDIA | ₹40,369 cr | 66.5x | 5.2x | 9.1% | 23.6% | 9.2% | +15.2% | 0.42% |
| ENDURANCE | ₹31,415 cr | 32.4x | 4.6x | 15.4% | 16.7% | 13.1% | +18.4% | 0.45% |
| EXIDEIND | ₹28,636 cr | 30.7x | 2.1x | 6.7% | 9.7% | 10.3% | +6.1% | 0.60% |
| VARROC | ₹11,895 cr | 60.3x | 6.7x | 11.8% | 17.3% | 7.9% | +9.0% | 0.13% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| (i) Automotive (refer note 3) | ₹8,649 cr | 97.3% | ₹428 cr | 4.9% |
| (ii) Others | ₹242 cr | 2.7% | ₹-28 cr | -11.5% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-07 | Dividend | Dividend - Rs 1.50 Per Share |
| 2025-08-08 | Dividend | Dividend - Re 1 Per Share |
| 2020-02-25 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2019-08-08 | Dividend | Dividend Rs 4 Per Share |
| 2018-08-28 | Other | Annual General Meeting (Date Revised) |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacture and sale of automotive components: Varroc is a global automotive technology solution company that designs, develops, and manufactures electrical, electronics, lighting, polymer, metallic, and advanced safety solutions for OEMs worldwide in the two-wheeler, three-wheeler, passenger car, commercial vehicle, and off-highway vehicle ("OHV") segments. Additionally, Varroc has a strong aftermarket division serving over 27 countries across the world.
| Sector | Consumer Discretionary |
| Industry | Auto Components & Equipments |
| Sub-industry | Auto Components & Equipments |
| Symbol | VARROC |
| BSE code | 541578 |
| ISIN | INE665L01035 |
| Face value | ₹1.0 |
| Incorporated | 1988-05-11 |
| Website | www.varroc.com |
| Plants (India / abroad) | 30 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.