Varroc Engineering Ltd.

•

varroc.comBSE: 541578NSE: VARROC

Market Cap₹ 13,315 Cr.

Current Price

High / Low₹ 896 / 462

Stock P/E67.5

Book Value₹ 122

Price to Book4.02

Dividend Yield0.17 %

ROCE18.9 %

ROE13.7 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Automotive: 97.3% • Others: 2.7%

AI Sector View

AI GENERATED

Automobile and Auto Components

Buy

Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.

Confidence

74%

View full sector analysis →

PROS

Company has delivered good profit growth of 23.9% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 21.0%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.24x)
Company has delivered good sales growth of 15.2% CAGR over last 5 years
Company generates healthy free cash flow
Attractively priced for its growth - PEG of 0.8

CONS

Recent results are weak - TTM profit is down 23.3% versus prior year
Valuation is stretched - P/E of 67.5 is well above its own 5-year median (31.8)
Recurring exceptional / one-off items are inflating headline profit
Though reporting repeated profits, the company pays out little dividend (10.2%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Automobile and Auto ComponentsAutomobile & AncillariesAuto Ancillary

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	MOTHERSON	164.30	39.59	173409.49	0.37	1075.66	77.48	35243.77	17.70	13.63	8.86
2.	BOSCHLTD	48388.75	60.40	142727.94	0.56	706.10	-36.74	5841.90	22.00	25.60	14.08
3.	UNOMINDA	1202.40	57.75	69434.66	0.22	315.51	2.10	5556.85	23.79	20.74	11.14
4.	TIINDIA	2607.25	83.21	50469.14	0.13	293.96	-3.04	6215.33	20.20	27.33	8.81
5.	SONACOMS	788.95	70.76	49240.61	0.43	178.51	46.67	1301.20	52.38	14.75	22.55
6.	ENDURANCE	2696.75	39.11	37933.25	0.43	244.52	8.03	4314.89	30.01	18.33	12.42
7.	CRAFTSMAN	11663.75	65.61	30505.88	0.10	150.55	116.31	2431.58	36.30	14.65	15.81
8.	ZFCVINDIA	2548.90	58.10	29007.88	0.03	1044.78	753.75	10661.76	992.89	20.23	12.93
9.	SANSERA	4130.20	73.97	25773.92	0.10	87.36	38.71	1021.26	33.27	14.29	19.18
10.	MSUMI	36.30	38.37	24072.93	1.60	1453.20	915.51	34072.60	1273.43	43.72	7.58
11.	GABRIEL	1345.45	80.11	23845.41	0.37	1081.26	925.35	14256.83	1055.00	26.37	11.71
12.	VARROC	871.50	67.51	13315.33	0.17	77.70	-27.66	2634.24	29.92	18.91	8.47

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,806	1,887	1,885	1,975	1,899	2,081	2,075	2,099	2,028	2,207	2,288	2,368	2,634
	1,626	1,700	1,711	1,756	1,726	1,880	1,889	1,886	1,836	2,006	2,078	2,146	2,527
Operating Profit	180	187	173	219	172	201	186	213	192	202	210	222	107
OPM %	9.98%	9.91%	9.19%	11.07%	9.08%	9.66%	8.96%	10.16%	9.46%	9.14%	9.18%	9.39%	4.06%
	8	14	11	9	5	14	-88	-44	69	4	-101	6	6
Interest	49	50	50	45	44	43	42	41	36	32	31	35	31
Depreciation	80	85	89	82	80	82	81	81	81	83	82	86	84
Profit before Tax	59	66	46	100	53	90	-25	47	143	91	-4	107	114
Tax %	17.27%	27.64%	-685.51%	46.68%	41.12%	36.63%	-82.18%	51.67%	25.47%	31.54%	-190.05%	35.68%	32.06%
Net Profit	0	0	0	0	34	58	-45	23	107	63	-11	70	78
	3.48	3.55	25.05	3.72	2.12	3.64	-3.10	1.35	6.88	3.99	-0.67	4.54	5.06

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	9,299	10,279	12,036	11,122	4,374	5,844	6,891	7,552	8,154	8,890	9,497
	8,717	9,398	10,978	10,301	4,036	5,485	6,316	6,796	7,379	8,069	8,756
Operating Profit	582	881	1,059	821	338	359	575	756	775	821	741
OPM %	6.26%	8.57%	8.80%	7.38%	7.73%	6.15%	8.34%	10.01%	9.50%	9.24%	7.80%
	94	39	91	99	116	34	30	46	-116	-17	-85
Interest	90	86	97	139	89	118	190	194	170	134	129
Depreciation	337	386	566	732	274	305	337	337	323	332	335
Profit before Tax	327	516	519	39	127	-30	83	315	169	341	309
Tax %	4.19%	12.61%	17.33%	93.65%	37.81%	-160.43%	53.19%	-75.63%	58.83%	32.69%	36.20%
Net Profit	313	451	429	3	79	-78	39	553	70	230	197
EPS	28.10	33.40	31.54	0.01	-46.75	-72.64	-53.66	34.43	4.01	14.73	—
Dividend Payout %	1.28%	1.37%	12.68%	0.00%	0.00%	0.00%	0.00%	0.00%	24.95%	10.18%	—

COMPOUNDED SALES GROWTH

10 Years:: 1%
5 Years:: 15%
3 Years:: 9%

COMPOUNDED PROFIT GROWTH

10 Years:: -5%
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: 26%
3 Years:: 28%
1 Year:: 43%

RETURN ON EQUITY

10 Years:: 11%
5 Years:: 13%
3 Years:: 21%
Last Year:: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	11	12	13	13	15	15	15	15	15	15
Minority Interest	20	21	24	25	28	25	28	29	33	38
	2,172	2,815	3,053	2,991	3,013	1,973	961	1,482	1,550	1,765
	1,372	1,236	1,883	3,459	3,810	864	1,233	1,067	947	847
Trade Payables	1,550	2,000	2,056	2,380	3,031	1,334	1,196	1,224	1,393	1,522
	722	666	1,518	1,915	1,150	6,777	1,180	547	648	681
Total Liabilities	5,847	6,749	8,548	10,784	11,047	10,989	4,614	4,364	4,586	4,868
	2,381	2,790	3,546	5,283	5,231	2,033	2,051	2,027	2,016	2,232
Capital Work in Progress	246	244	666	398	494	112	121	76	100	95
	293	360	362	330	376	388	421	530	69	88
	753	864	890	1,076	1,256	616	671	674	733	933
	0	0	0	0	0	518	597	492	680	735
Cash & Bank	354	329	163	1,069	745	118	327	130	163	181
	1,820	2,163	2,919	2,629	2,945	7,205	426	434	825	604
Total Assets	5,847	6,749	8,548	10,784	11,047	10,989	4,614	4,364	4,586	4,868

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	728	1,202	602	1,542	493	636	686	638	737	537
Cash from Investing	-565	-601	-1,757	-1,268	-644	-763	-286	-166	-246	-123
Cash from Financing	94	-523	1,129	733	-152	-335	-216	-664	-490	-405
	205	-50	-154	879	-322	-462	185	-192	-0	8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00
	3.80	3.89	3.92	3.99	4.29	4.36	4.45	4.29
	12.65	12.49	12.79	13.03	12.75	12.40	11.35	11.18
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	8.55	8.61	8.28	7.99	7.97	8.24	9.20	9.53

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Credit Rating- New

2026-09-09 - Varroc Engineering Limited has informed the Exchange about Credit Rating-ESG Rating

2026-09-08

Credit Rating- New

2026-09-08 - Varroc Engineering Limited has informed the Exchange about Credit Rating- ESG Rating by CRISIL ESG Ratings & Analytics Limited

2026-08-28

Action(s) initiated or orders passed

2026-08-28 - Varroc Engineering Limited has informed the Exchange about Action(s) initiated or orders passed

2026-08-25

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-25 - Varroc Engineering Limited has informed the Exchange about Cacellation of Meet

2026-08-24

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-24 - Varroc Engineering Limited has informed the Exchange about Schedule of meet

2026-08-21

General Updates

2026-08-21 - Varroc Engineering Limited has informed the Exchange about AGM Transcript

2026-08-21

Disclosure of material issue

2026-08-21 - Varroc Engineering Limited has informed regarding Disclosure of material issue-Redemption of Commercial Papers

2026-08-21

General Updates

2026-08-21 - Varroc Engineering Limited has informed the Exchange about AGM Recording

2026-08-20

Shareholders meeting

2026-08-20 - Varroc Engineering Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 20, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.

News

Recent coverage and analyst commentary for VARROC

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Varroc Engineering Ltd.

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Free 5nance Account

Name

MOTHERSON

164.30

39.59

173409.49

0.37

1075.66

77.48

35243.77

17.70

13.63

8.86

BOSCHLTD

48388.75

60.40

142727.94

0.56

706.10

-36.74

5841.90

22.00

25.60

14.08

UNOMINDA

1202.40

57.75

69434.66

0.22

315.51

2.10

5556.85

23.79

20.74

11.14

TIINDIA

2607.25

83.21

50469.14

0.13

293.96

-3.04

6215.33

20.20

27.33

8.81

SONACOMS

788.95

70.76

49240.61

0.43

178.51

46.67

1301.20

52.38

14.75

22.55

ENDURANCE

2696.75

39.11

37933.25

0.43

244.52

8.03

4314.89

30.01

18.33

12.42

CRAFTSMAN

11663.75

65.61

30505.88

0.10

150.55

116.31

2431.58

36.30

14.65

15.81

ZFCVINDIA

2548.90

58.10

29007.88

0.03

1044.78

753.75

10661.76

992.89

20.23

12.93

SANSERA

4130.20

73.97

25773.92

0.10

87.36

38.71

1021.26

33.27

14.29

19.18

MSUMI

36.30

38.37

24072.93

1.60

1453.20

915.51

34072.60

1273.43

43.72

7.58

GABRIEL

1345.45

80.11

23845.41

0.37

1081.26

925.35

14256.83

1055.00

26.37

11.71

VARROC

871.50

67.51

13315.33

0.17

77.70

-27.66

2634.24

29.92

18.91

8.47

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

1,806

1,887

1,885

1,975

1,899

2,081

2,075

2,099

2,028

2,207

2,288

2,368

2,634

1,626

1,700

1,711

1,756

1,726

1,880

1,889

1,886

1,836

2,006

2,078

2,146

2,527

Operating Profit

180

187

173

219

172

201

186

213

192

202

210

222

107

OPM %

9.98%

9.91%

9.19%

11.07%

9.08%

9.66%

8.96%

10.16%

9.46%

9.14%

9.18%

9.39%

4.06%

-88

-44

-101

Interest

Depreciation

Profit before Tax

100

-25

143

-4

107

114

Tax %

17.27%

27.64%

-685.51%

46.68%

41.12%

36.63%

-82.18%

51.67%

25.47%

31.54%

-190.05%

35.68%

32.06%

Net Profit

-45

107

-11

3.48

3.55

25.05

3.72

2.12

3.64

-3.10

1.35

6.88

3.99

-0.67

4.54

5.06

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

9,299

10,279

12,036

11,122

4,374

5,844

6,891

7,552

8,154

8,890

9,497

8,717

9,398

10,978

10,301

4,036

5,485

6,316

6,796

7,379

8,069

8,756

Operating Profit

582

881

1,059

821

338

359

575

756

775

821

741

OPM %

6.26%

8.57%

8.80%

7.38%

7.73%

6.15%

8.34%

10.01%

9.50%

9.24%

7.80%

116

-116

-17

-85

Interest

139

118

190

194

170

134

129

Depreciation

337

386

566

732

274

305

337

323

332

335

Profit before Tax

327

516

519

127

-30

315

169

341

309

Tax %

4.19%

12.61%

17.33%

93.65%

37.81%

-160.43%

53.19%

-75.63%

58.83%

32.69%

36.20%

Net Profit

313

451

429

-78

553

230

197

EPS

28.10

33.40

31.54

0.01

-46.75

-72.64

-53.66

34.43

4.01

14.73

—

Dividend Payout %

1.28%

1.37%

12.68%

0.00%

24.95%

10.18%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Minority Interest

2,172

2,815

3,053

2,991

3,013

1,973

961

1,482

1,550

1,765

1,372

1,236

1,883

3,459

3,810

864

1,233

1,067

947

847

Trade Payables

1,550

2,000

2,056

2,380

3,031

1,334

1,196

1,224

1,393

1,522

722

666

1,518

1,915

1,150

6,777

1,180

547

648

681

Total Liabilities

5,847

6,749

8,548

10,784

11,047

10,989

4,614

4,364

4,586

4,868

2,381

2,790

3,546

5,283

5,231

2,033

2,051

2,027

2,016

2,232

Capital Work in Progress

246

244

666

398

494

112

121

100

293

360

362

330

376

388

421

530

753

864

890

1,076

1,256

616

671

674

733

933

518

597

492

680

735

Cash & Bank

354

329

163

1,069

745

118

327

130

163

181

1,820

2,163

2,919

2,629

2,945

7,205

426

434

825

604

Total Assets

5,847

6,749

8,548

10,784

11,047

10,989

4,614

4,364

4,586

4,868

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

728

1,202

602

1,542

493

636

686

638

737

537

Cash from Investing

-565

-601

-1,757

-1,268

-644

-763

-286

-166

-246

-123

Cash from Financing

-523

1,129

733

-152

-335

-216

-664

-490

-405

205

-50

-154

879

-322

-462

185

-192

-0

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

75.00

3.80

3.89

3.92

3.99

4.29

4.36

4.45

4.29

12.65

12.49

12.79

13.03

12.75

12.40

11.35

11.18

Government

0.00

8.55

8.61

8.28

7.99

7.97

8.24

9.20

9.53

Varroc Engineering Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Varroc Engineering Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI