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Varroc Engineering Ltd Performance

Today's Low
495.40
arrowIcon
Today's High
518.55
52 Wk Low
263.10
arrowIcon
52 Wk High
632.00


Open

501

Traded Value (Cr)

8.17 Cr

Prev. Close

508.9

VWAP

509.06

Volume

2,21,549

Face Value

1

Varroc Engineering Ltd Fundamentals

Market Cap
₹ 8,203 Cr
P/E Ratio (TTM)
15.49
P/B Ratio
7.93
Debt to Equity
1.39
ROE
16.18 %
EPS (TTM)
34.67
Dividend Yield
0.00%
Book Value
67.71

Click here to know more about Fundamentals

Varroc Engineering Ltd Financials

Varroc Engineering Ltd Financials

Varroc Engineering Ltd Shareholding Pattern

Held By Mar 2024 Dec 2023 Sep 2023 Jun 2023
Promoters 75.00 % 75.00 % 75.00 % 75.00 %
Mutual Funds 9.66 % 9.44 % 10.25 % 9.80 %
Retail 6.98 % 7.25 % 6.03 % 6.10 %
FII 4.22 % 4.57 % 4.99 % 5.07 %
Others 4.14 % 3.74 % 3.72 % 4.03 %

Promoters

75.00%

Mutual Funds

9.66%

Retail

6.98%

FII

4.22%

Others

4.14%

Promoters

75.00%

Mutual Funds

9.44%

Retail

7.25%

FII

4.57%

Others

3.74%

Promoters

75.00%

Mutual Funds

10.25%

Retail

6.03%

FII

4.99%

Others

3.72%

Promoters

75.00%

Mutual Funds

9.80%

Retail

6.10%

FII

5.07%

Others

4.03%

Resistance and Support

₹494.27

PIVOT

resistance-arrow
Resistance
First Resistance₹502.533
Second Resistance₹509.617
Third Resistance₹517.883
support-arrow
Support
First Resistance₹487.183
Second Resistance₹478.917
Third Resistance₹471.833
RSI52.960
MACD11.881
ADX14.376
CCI-36.150

Delivery and Volume

PeriodDelivery Volume Traded Volume Delivery Volume %
Day221,54962,13338.72
Week222,465100,42054.06
1 Month369,617138,60546.93
6 Months221,54990,55640.87

About Varroc Engineering Ltd

Varroc Engineering Limited was incorporated on May 11, 1988 at Mumbai. The Company was converted into a public limited company and the name of the Company was changed to 'Varroc Engineering Limited' on February 5, 2018. The Company is a global tier-1 (tier-1 companies are companies that directly supply to original equipment manufacturers ('OEMs') automotive component group. The Company designs, manufactures and supplies exterior lighting systems, plastic and polymer components, electricals-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 one of the leading global passenger car lighting suppliers and amongst the top 2-wheeler automotive component supplier in India. It has a global footprint of 37 manufacturing facilities. The Company commenced operations with polymer business in 1990. It initially grew organically in India by adding new business lines, such as electrical division and metallic division. Subsequently, it diversified the product offerings and expanded its production capacity through various investments, joint ventures and acquisitions. It expanded its manufacturing footprint by investing in nine manufacturing plants and an additional R&D center in India since 2012. In 2005, the company formed Varroc Exhaust Systems Private Limited to manufacture catalytic convertor for two wheelers and three-wheelers. In 2007, the company formed a joint venture with Plastic Omnium Auto Exterior SAS, France. During the year under review, the company acquired I.M.E.S in Italy. In 2008, as per a composite scheme of arrangement between Varroc Lighting Private Limited (VLPL), Varroc Polymers Private Limited (VPPL) and the company, VLPL was amalgamated with the company and the polymer business of the company was demerged into VPPL. In 2011, the company acquired two-wheeler lighting business of TRI.O.M. S.p.A. In 2012, the company acquired the lighting division of Visteon Corporation, now known as Varroc Lighting Systems. In 2013, the company expanded its global lighting business by acquiring Visteon's holding in a 50/50 joint venture with Beste Motor Co. Ltd. ('TYC') to manufacture automotive lighting in China, namely Varroc TYC (which wholly owns Varroc TYC Auto Lamps, which in turn wholly owns Varroc TYC Auto Lamps (CQ) (its 'China JV'). On February 13, 2018, the company entered into a joint venture with Dell'Orto S.p.A., for the development of electronic fuel injection control systems for r 2-wheelers and 3-wheelers. It also acquired a Turkey-based lighting products manufacturer. In 2018, the company acquired 90% stake in Team Concepts through its subsidiary VPPL. During the year under review, the company made investment in lighting manufacturing units in Brazil & Morocco. During the year under review, the company diversified its business activities by acquiring Team Concepts, which is in the business of manufacturing of auto accessories. The company came out with an initial public offer (IPO) during the period from 26 June 2018 to 28 June 2018. The IPO was an offer for sale by the selling shareholders consisting of promoter Tarun Jain (17.52 lakh shares), Omega TC Holdings (entire 169.17 lakh shares) and Tata Capital Financial Services (entire 15.52 lakh shares). There was no fresh issue of shares by the company. The IPO was priced at Rs 967 per share. The stock made its debut on the bourses on 6 July 2018. The Board of Directors of Varroc Lighting Systems INC. USA (a wholly owned stepdown subsidiary company of Varroc Engineering Limited) at its meeting held on 12 July 2018 at Czech Republic approved the proposed setting up of new facilities at Chennai (India) and Poland for manufacturing exterior lighting components. On 3 August 2018, Varroc Engineering Limited informed the stock exchanges that its wholly owned subsidiary Aries Mentor Holding B.V., The Netherlands has acquired 6,60,114 shares of TRI.O .M. S.p.A. from the existing minority shareholder Mr. Alessio Caputo on 3 August 2018 resulting increase in shareholding of Aries Mentor Holding B.V., The Netherlands in TRI.O.M. S.p.A. Italy to 100%. Consequently, TRI.O.M . S.p.A. Italy has become wholly owned step-down subsidiary of Varroc Engineering. On 19 September 2018, Varroc Engineering Limited informed the stock exchanges that its wholly owned subsidiary company VarrocCorp Holdings B.V., The Netherlands has signed a joint venture agreement with ELBA SA, a privately-held lighting and electronics company based in Romania, on September 18, 2018. The joint venture will focus on electronics manufacturing, and - given the constantly increasing electronic content of lighting products - will significantly support Varroc Lighting's successful growth in Europe. As per the terms of the joint venture agreement, Varroc and ELBA will contribute equity for the joint venture in the ratio of 70% and 30% respectively. VarrocCorp Holding BV, a WoS has acquired 100% stake in SA-BA Endüstriyel Ürünler imalat ve Ticaret Anonim Sirketi, (name changed to Varroc Lighting Systems Turkey Endüstriyel Urünler Imalat Ve Ticaret Anonim Sirketi) a Turkey based company engaged in the business of manufacturing and supply of automotive lighting for four wheelers along with its wholly owned subsidiary company in Bulgaria at an aggregate consideration of Euro 43 million in June 2018. During year 2018-19, Varroc Lighting Systems formed small and two-wheeler lighting division under its umbrella. Aries Mentor Holding B.V., The Netherlands acquired balance 20% stake in Varroc Lighting Systems, Italy S.p.A. (erstwhile TRI.O.M., S.p.A., Italy) as per the Option Agreement with its erstwhile promoters. With the acquisition of said stake, Varroc Lighting Systems, Italy S.p.A. became wholly owned subsidiary of Aries Mentor Holding B.V., The Netherlands. In September, 2018, Varroc Lighting Systems has signed a joint venture agreement with ELBA Electronics SRL, a privately-held lighting and electronics company based in Romania. By virtue of the said JV agreement, in the month of January, 2019, a new Joint Venture Company under the name and style of Varroc ELBA Electronics SRL, Romania was formed for manufacture of electronic components and sub-assemblies (modules). In January, 2019, Varroc do Brasil Industria E Commercia LTDA started commercial production in Sorocaba, Sao Paulo, Brazil. In January, 2019, Varroc Lighting Systems, Bulgaria EOOD started production facility in Dimitrovgrad, Bulgaria. Varroc Lighting Systems SA, Morocco constructed Phase I facility and started commercial production in February, 2019. In March, 2019, Varroc Lighting Systems S.p.Z.o.o., Poland opened a new research and development office in Krakow, Poland. The said Company started construction of a new manufacturing plant in Niemce, Poland. The Company commenced commercial production at Halol, Dist.: Panchmahal, Gujarat State in January, 2019. In March, 2019, the Company through its wholly owned subsidiary Varroc Polymers Pvt. Ltd. acquired additional 5% stake in Bangalore based Company Team Concepts Pvt. Ltd. As on March 31, 2019, Varroc Polymers Pvt. Ltd. is currently holding 95% of the paid-up share capital of Team Concepts Pvt. Ltd. Varroc ELBA Electronics, SRL, Romania (70:30 JV Company) became Subsidiaries of the Company and Varroc Dell'Orto Pvt. Ltd. became a Joint Venture of the Company during the year 2018-19. In September 2019, the Company's subsidiary Varroc Polymers Pvt. Ltd. (VPPL) acquired the remaining shares of Team Concepts Pvt. Ltd. (TCPL) held by the Original Promoters of TCPL. By virtue of the said acquisition of shares, TCPL became a 100% wholly owned subsidiary of VPPL. The Company acquired 74% stake in a leading telematics solutions provider CarIQ Technologies Pvt. Ltd. (CarIQ) in August, 2019. In September, 2019, the Company has subscribed 15,00,000 Equity Shares of Rs 10/- each of Varroc Dell'Orto Pvt. Ltd. on Rights basis. Varroc Dell'Orto is a 50:50 Joint Venture between the Company and Dell'Orto S.p.A., Italy. In 2019-20, the Company's subsidiary in Amsterdam, Netherlands, Aries Mentor Holding B. V. (AMHBV) merged with VarrocCorp Holding B.V. (VCHBV) effective from March 4, 2020. By virtue of the said merger, VCHBV became the Holding Company for Varroc Lighting Systems, Italy S.p.A. including its step down subsidiaries in Romania and Vietnam. TRIOM, Mexico S.A.de.C.V. and Aries Mentor Holding B.V., The Netherlands have ceased to be Subsidiaries of the Company during the year 2019-20. In December 2020, VarrocCorp Holding B.V., Netherlands (VCHBV), Wholly Owned Subsidiary of the Company acquired 30% balance stake in Varroc-Elba Electronics S.R.L. held by the other JV Partner, ELBA SA, Romania. By virtue of the said acquisition of shares, Varroc Elba became a Wholly Owned Subsidiary' of VCHBV and in turn a step-down Subsidiary' of the Company. Upon acquisition of shares, the name of Varroc Elba was changed to Varroc Lighting Systems Electronics Romania SA. The Scheme of Amalgamation of Varroc Lighting Systems (India) Pvt. Ltd. (a Wholly Owned Subsidiary) (VLSIPL) with the Company became effective and resulting to this, all the assets and liabilities were transferred and vested into the Company effective April 1, 2020. Varroc Lighting Systems Electronics Romania SRL was made the Subsidiary of the Company. Varroc Lighting Systems (India) Pvt. Ltd. have ceased to be Subsidiaries of the Company during 2020-21. The Company launched an Integrated Turnaround Program (Project RACE) for VLS business in 2020-21. During year 2021-22, the Scheme of Amalgamation of Team Concepts Pvt. Ltd. (TCPL/ a wholly owned Subsidiary) with Company's Subsidiary Varroc Polymers Pvt. Ltd. (VPPL) was made effective on February 05, 2022. Resultant, all the assets and liabilities including obligations of TCPL transferred & become assets and liabilities of VPPL with effect from the Appointed Date i.e. April 1, 2020. Further, Team Concepts Pvt. Ltd. ceased to be Subsidiaries of the Company on account of amalgamation with Subsidiary Company Varroc Polymers Pvt. Ltd. in 2022. In 2022, the Company launched EV Product Lines for Traction Motor, Traction Motor Controller Unit, On-Board Chargers, Varroc Intelligence System-Telematics Unit, 10A DC-DC Converters and Battery Management Systems. In 2022-23, the Company divested its 4- Wheeler Lighting System Operations to Compagnie Plastic Omnium SE of France and its Affiliate/Associate Companies, and Subsidiaries through Business Transfer Agreement (BTA), effective on October 06, 2022. In Apr' 23, the Company acquired additional Equity Shares in its subsidiary Company, CarIQ Technologies Pvt. Ltd. increasing the stake to 95% from its Original Promoters. Varroc Germany GmBH, Varroc Poland S.p.z.oo and VL Lighting Solutions Private Limited became subsidiaries of the Company during 2022-23. The Company launched a 20A DC-DC converter in FY 22-23.

Managing Director

TARANG JAIN

Founded

1988

NSE Symbol

VARROC

Varroc Engineering Ltd Management

NameDesignation
TARANG JAINChairman & Managing Director
ARJUN TARANG JAINNon Independent Executive Dire
Gautam P KhandelwalIndependent Non Exe. Director
VIJAYA SAMPATHIndependent Non Exe. Director
MARC SZULEWICZIndependent Non Exe. Director
Vinish KathuriaIndependent Non Exe. Director
Rohit PrakashNon Independent Executive Dire
Dhruv JainNon-Exec & Non-Independent Dir
Tarun TyagiWhole-time Director

Varroc Engineering Ltd News

Varroc Engineering consolidated net profit rises 1775.93% in the December 2023 quarter
Sales rise 9.39% to Rs 1884.59 crore
Varroc Engg. schedules board meeting
On 7 February 2024
Varroc Engineering reports consolidated net profit of Rs 54.23 crore in the September 2023 quarter
Sales rise 2.87% to Rs 1886.81 crore
Varroc Engg. to table results
On 7 November 2023
Varroc Engineering arm signs PPA for 51 MWp solar power
Varroc Group to acquire minority stake in renewable energy entities
For purpose of captive power consumption
Volumes spurt at Varroc Engineering Ltd counter
Varroc Engineering Ltd notched up volume of 64.89 lakh shares by 14:09 IST on NSE, a 46.23 fold spurt over two-week average daily volume of 1.40 lakh shares
Varroc Engineering Ltd leads gainers in 'A' group
Johnson Controls-Hitachi Air Condition. India Ltd, Max Financial Services Ltd, IFCI Ltd and Vakrangee Ltd are among the other gainers in the BSE's 'A' group today, 10 August 2023.
Varroc Engineering reports consolidated net profit of Rs 32.26 crore in the June 2023 quarter
Sales rise 10.08% to Rs 1792.41 crore
Varroc Engg. to conduct board meeting
On 9 August 2023

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Varroc Engineering Ltd FAQ

By opening a demat account and having your KYC papers confirmed online, you may simply purchase Varroc Engineering Ltd shares in BlinkX

The share price of any stock is volatile and changes during the day due to a variety of variables. Varroc Engineering Ltd's share price is ₹508.95 as of April 19, 2024

Varroc Engineering Ltd's P/E ratio is 15.49 times as of April 19, 2024.

Varroc Engineering Ltd's most recent financial reports indicate a price-to-book ratio of 7.93, showing the company's stock market valuation in relation to the value of its real assets.

Market capitalisation, often known as market cap, is the market value of all outstanding shares of a publicly listed corporation. Varroc Engineering Ltd's market is 8,203 Cr as on April 19, 2024.

The current financial records of Varroc Engineering Ltd show a 16.18% ROE, showing great financial performance and effective capital utilisation, making it a significant statistic for investors.

The 52-week high/low price of a Varroc Engineering Ltd stock is the highest and lowest price at which it has traded over that period (about one year) and is used as a technical indicator. Varroc Engineering Ltd's 52-week high and low as of April 19, 2024 are ₹518.55 and ₹495.4 respectively.

As of the Mar 2024 quarter, the promoter shareholding in Varroc Engineering Ltd stands at 75.00%. During the same period, Institutional Investors have shown a slight decrease in their holdings, dropping from 4.57% to 4.22%.