Varroc Engineering share price
NSE: VARROCBSE: 541578Auto ComponentsSmall Cap
Share price at the NSE close on 29 Oct 2026. Previous close ₹807.50.
29 Oct: open ₹802.70, high ₹810.75, low ₹795.50
- Next results date: the board meets on 4 Nov 2026 to consider: financial results and other business matters. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹12,290 Cr606th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 62.31
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹105 crore of one-off items, the largest of them in the quarter to Dec 2025.
- 40.68
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 6.90
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.19%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 11.8%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹105 crore of one-off items, the largest of them in the quarter to Dec 2025.
- 18.1%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 20.4%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.41
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 39,71754.7% delivered
About Varroc Engineering
Varroc Engineering Limited designs, develops and manufactures automotive systems and components for vehicle makers worldwide.1 Its electrical, electronic, lighting, polymer, metal and safety products go into two-wheelers, three-wheelers, passenger cars, commercial vehicles and off-highway vehicles.2 Based in Chhatrapati Sambhaji Nagar, Maharashtra, it runs plants and R&D centres across India, Europe and Asia, and sells replacement parts through its aftermarket business.31
Its business lines are ICE powertrain (parts for petrol and diesel engines), e-mobility, lighting, HMI (instrument clusters, switches and sensors), body systems, Varroc Connect, aftermarket, lighting electronics, intelligent cockpit and ADAS (driver-assistance systems), and Varroc Smart Mobility.4 Its products range from engine valves and starter motors to electric-vehicle traction motors, motor controllers, chargers and battery management systems, and polymer cockpits, door trims, seats and mirrors.567
Varroc Engineering was established in 1988 and its shares are listed on the National Stock Exchange and BSE.18 It formed a joint venture with Dell'Orto for electronic fuel injection in India and sold its passenger-vehicle lighting business in Europe and the Americas to Plastic Omnium.8 Its subsidiaries include Varroc Connect, Varroc Italy, Varroc Romania, Varroc Electronics Romania, Varroc Vietnam and Varroc (Thailand).9 Tarang Jain is its Chairman and Managing Director.10
Varroc Engineering key points
Results
- In the quarter to Jun 2026, consolidated revenue from operations was ₹26,342 million, up 29.9% from a year earlier, and profit before tax, one-off items and joint-venture profit was ₹1,132 million, against ₹822 million.11
- EBITDA (earnings before interest, tax, depreciation and amortisation) was around 8.5% of revenue in the quarter to Jun 2026, against 9.5% a year earlier. Net debt (borrowings less cash) was ₹5,268 million at the end of Jun 2026, 0.28 times equity.1213
- In the year to Mar 2026, consolidated revenue was ₹88,905 million, up 9.0%; EBITDA was ₹8,364 million, a 9.4% margin, and profit before tax, one-off items and joint-venture items was ₹3,814 million, a 4.3% margin.14
- In the quarter to Jun 2026, India revenue grew 28.6% and overseas revenue 45.6%; India operations earned a 10.6% EBITDA margin and around 7% profit-before-tax margin.15
Revenue mix
- Share of revenue by business line16
Item year to Mar 2026 Body parts 35.2% ICE powertrain 25.1% Lighting solutions 16.9% Aftermarket 10.0% E-mobility 6.2% HMI 3.9% Connectivity (overseas) 2.7% - Revenue from supplying electric-vehicle models was around 15.8% of revenue in the quarter to Jun 2026, up 87% from a year earlier; it was about 13% in the year to Mar 2026, against 9.8% a year before.1718
- On its earnings call of 6 Aug 2026, the company said it is a primary supplier to Bajaj Auto for electric vehicles.19
Plants and capacity
- The group has 37 operating manufacturing facilities and 7 technical centres, and has filed more than 130 patents.2021
- Its lighting business has manufacturing facilities in India, Thailand, Italy, Romania and Vietnam.22
- Its polymer body parts business has 14 dedicated plants, 1 integrated plant and 2 R&D centres.23
- Its aftermarket business sells more than 9,000 SKUs (individual products) across 40 product lines.24
Order book
- Net new business wins (new orders won) in the quarter to Jun 2026 were ₹5,991 million in annualised peak revenue (the yearly revenue the orders bring at their peak), including a 4-wheeler lighting order for its Thailand operations.2526
- In the year to Mar 2026, net new business wins were about ₹32,890 million in annualised peak revenue, around 65% of them for electric-vehicle models.27
- The order book (orders won but not yet delivered, counted in annual peak revenue) was ₹3,509 crore at the start of the financial year, the company said on its earnings call of 6 Aug 2026.28
Expansion and capital spending
- On its earnings call of 6 Aug 2026, the company said capital spending in the year to Mar 2027 would be ₹500 crore to ₹550 crore across India and overseas, much of it for e-mobility capacity.29
- In the year to Mar 2026, the company set up a dedicated R&D centre in China and a new manufacturing plant in Thailand.3031
What the company expects
- On its earnings call of 6 Aug 2026, the company said revenue could grow at least 20% to 25% in the year to Mar 2027, calling this an ambition rather than guidance.32
- The company stated in its annual report for the year to Mar 2026 that it expects its overseas operations, excluding advanced overseas R&D, to reach EBITDA breakeven by the quarter to Mar 2027.33
- On its earnings call of 6 Aug 2026, the company said it intends to double revenue to ₹20,000 crore by the year to Mar 2031, with 80% from India and 20% from overseas.34
Recent events
- On 26 Oct 2026, the company signed agreements for a proposed purchase of a 45% stake in Forsee Power India, which makes electric-vehicle battery packs and battery management systems, for at most €4.5 million; completion, subject to conditions, is expected by 31 Dec 2026.353637
- On 30 Sep 2026, the company said subsidiary Varroc Italy S.p.A. (turnover ₹1,252.21 million in the year to Mar 2026) plans to stop manufacturing and testing in Italy from January 2027, keeping sales and part of R&D, subject to trade-union consultation, after continuous losses.3839
- On 24 Apr 2026, India Ratings & Research upgraded the long-term credit rating on the company's bank loans to IND AA+/Stable from IND AA/Stable.40
- On 16 Jan 2026, the company concluded a voluntary separation scheme for permanent workmen, accepting 411 of 432 applications at a total outflow of ₹799.49 million.41
Litigation and regulatory matters
- Subsidiary Varroc Electronics Romania has appealed a Paris Commercial Court judgment in its claim against OP Mobility, which has also appealed or counterclaimed. The 20 Mar 2026 filing puts the claim at €39.16 million plus costs, against an original €76 million.4243
- As of its annual report of 28 Jul 2026, the auditor's qualified opinion (a reservation about part of the accounts) on arbitration-linked income remained open; the company is pursuing a resolution with the counterparty.33
Last updated
All 43 sources, each with its page
- 1. Annual report, 28 Jul 2026, page 64
- 2. Annual report, 28 Jul 2026, page 140
- 3. Annual report, 28 Jul 2026, page 130
- 4. Annual report, 28 Jul 2026, page 28
- 5. Annual report, 28 Jul 2026, page 18
- 6. Annual report, 28 Jul 2026, page 19
- 7. Annual report, 28 Jul 2026, page 20
- 8. Annual report, 28 Jul 2026, page 8
- 9. Annual report, 28 Jul 2026, page 143
- 10. Annual report, 28 Jul 2026, page 11
- 11. Exchange filing, 7 Aug 2026, page 2
- 12. Exchange filing, 7 Aug 2026, page 2
- 13. Exchange filing, 7 Aug 2026, page 3
- 14. Annual report, 28 Jul 2026, page 12
- 15. Exchange filing, 7 Aug 2026, page 2
- 16. Annual report, 28 Jul 2026, page 28
- 17. Exchange filing, 7 Aug 2026, page 2
- 18. Annual report, 28 Jul 2026, page 12
- 19. Earnings call, 6 Aug 2026, page 14
- 20. Annual report, 28 Jul 2026, page 64
- 21. Annual report, 28 Jul 2026, page 68
- 22. Annual report, 28 Jul 2026, page 66
- 23. Annual report, 28 Jul 2026, page 20
- 24. Annual report, 28 Jul 2026, page 27
- 25. Exchange filing, 7 Aug 2026, page 3
- 26. Earnings call, 6 Aug 2026, page 5
- 27. Annual report, 28 Jul 2026, page 10
- 28. Earnings call, 6 Aug 2026, page 7
- 29. Earnings call, 6 Aug 2026, page 14
- 30. Annual report, 28 Jul 2026, page 12
- 31. Annual report, 28 Jul 2026, page 28
- 32. Earnings call, 6 Aug 2026, page 11
- 33. Annual report, 28 Jul 2026, page 13
- 34. Earnings call, 6 Aug 2026, page 17
- 35. Exchange filing, 26 Oct 2026, page 1
- 36. Exchange filing, 26 Oct 2026, page 2
- 37. Exchange filing, 26 Oct 2026, page 3
- 38. Exchange filing, 30 Sep 2026, page 1
- 39. Exchange filing, 30 Sep 2026, page 2
- 40. Exchange filing, 24 Apr 2026, page 1
- 41. Annual report, 28 Jul 2026, page 70
- 42. Exchange filing, 20 Mar 2026, page 1
- 43. Exchange filing, 20 Mar 2026, page 2
Results
Consolidated; ₹ crore.Varroc Engineering quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +14.7%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +47.3%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹2,634 Crup 11.24%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹78 Crup 10.29%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 2.9%
Revenue by quarter
Net profit by quarter, a loss in red
- Net profit
- Loss
| ₹ crore | 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 |
| Net profit | 58 | −45 | 23 | 107 | 63 | −11 | 70 | 78 |
| Net margin | 2.8% | −2.2% | 1.1% | 5.3% | 2.9% | −0.5% | 3.0% | 2.9% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹8,890 Crup 9.03%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹230 Crup 229.86%
- Net margin
- 2.6%
Revenue by year
Net profit by year, a loss in red
- Net profit
- Loss
The years either side of a change of basis do not compare. From the year to Mar 2022, the company's revenue for that year, ₹5,844 Cr, differs from its quarters added, ₹10,761 Cr; the company reports a discontinued business.
| ₹ crore | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 12,036 | 11,122 | 11,303 | 5,844 | 6,863 | 7,552 | 8,154 | 8,890 |
| Net profit | 450 | 3 | −629 | −1,107 | −817 | 532 | 70 | 230 |
| Net margin | 3.7% | 0.0% | −5.6% | – | – | 7.0% | 0.9% | 2.6% |
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- AutomotiveAutomotive, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹8,649 Crup 9.01%97.3%
- OthersOthers, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹242 Crup 9.79%2.7%
Valuation
Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2022: days before it are of the company before the change.Varroc Engineering PE ratio and valuation
At or below today's level on 69% of 736 trading days over the last 3 years.
At or below today's level on 89% of 1,925 trading days since Nov 2018.
At or below today's level on 78% of 2,016 trading days since Sep 2018.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +9.0% | +267.3% | −70.4% | 0.3% |
| 3 years | +23.5% | – | – | 0.2% |
| 5 years | +5.2% | – | – | 0.1% |
Mutual fund holdings
7 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before.
- AddedAdded. Funds that held more shares than at the end of the month before.
- 1
- CutCut. Funds that held fewer shares than at the end of the month before.
- 2
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 4
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 7
| Fund | |||
|---|---|---|---|
| 1,15,45,163 | 0.92% | ₹996.3 Cr | |
| 19,89,383 | 2.07% | ₹171.7 Cr | |
| 5,47,234 | 2.31% | ₹47.2 Cr | |
| 2,70,449 | 0.59% | ₹23.3 Cr | |
| 1,11,427 | 0.10% | ₹9.62 Cr | |
| 23,133 | 0.74% | ₹2.00 Cr | |
| 113 | 0.02% | ₹97,000 |
Promoter and insider buying and selling
Trades made since 29 Oct 2025.Varroc Engineering insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Promoters and promoter group: no market trade · 2 off-market moves
Varroc Engineering competitors and peers
Auto Components & Equipments, 155 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to Varroc Engineering in market cap.Automobile companies
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 14,030 | 38.68 | 9.99 | +32.8% | +71.5% | 29.5% | 22.4% | 0.27% | |
| 13,469 | 14.44 | 1.74 | +12.4% | +15.3% | 12.7% | 13.6% | 1.97% | |
| 12,887 | 13.98 | 1.59 | +12.7% | +7.2% | 11.9% | 10.9% | 1.51% | |
| 12,474 | 116.70 | 3.79 | +8.5% | – | 3.4% | 6.4% | 0.15% | |
| 11,540 | 50.13 | 7.12 | +15.9% | +10.5% | 15.2% | 13.0% | 0.17% | |
| 11,456 | 36.21 | 8.74 | +27.9% | +23.2% | 26.9% | 23.0% | 0.32% | |
| 8,347 | 16.88 | 4.96 | +21.6% | +14.3% | 33.1% | 26.9% | 3.94% | |
| 8,269 | 28.14 | 4.17 | +32.8% | +53.7% | 15.9% | 18.0% | 0.29% |
Dividends
Per share, by the year it was paid for, and the latest payments.Varroc Engineering dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 7 Aug 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹1.50 |
| 8 Aug 2025 | Final | ₹1.00 |
| 25 Feb 2020 | Interim | ₹3.00 |
| 8 Aug 2019 | Final | ₹4.00 |
Latest announcements
Routine notices left out.Varroc Engineering announcements
Oct 2026
26 Oct · Disclosure of material issue
26 Oct · Analysts
16 Oct · Board meeting
Varroc Engineering share price by year
Each calendar year to 2025.Varroc Engineering share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 590.60 | +0.3% | 669.95 | 400.90 |
| 2024 | 588.95 | +6.3% | 694.90 | 446.95 |
| 2023 | 554.20 | +86.7% | 571.60 | 241.40 |
| 2022 | 296.85 | −10.7% | 457.60 | 280.05 |
| 2021 | 332.35 | −16.4% | 464.55 | 260.90 |
| 2020 | 397.40 | −4.9% | 500.60 | 124.80 |
| 2019 | 418.00 | −42.4% | 736.85 | 394.15 |
| 2018 | 726.15 | – | 1,151.95 | 648.90 |
Recent sessions
The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 28 Oct 2026 | 801.00 | 819.00 | 791.80 | 807.50 | 806.71 | 2,28,349 | 62.2% |
| 27 Oct 2026 | 777.70 | 820.00 | 773.10 | 805.45 | 806.74 | 2,77,267 | 55.0% |
| 26 Oct 2026 | 764.25 | 780.70 | 743.70 | 778.55 | 768.11 | 2,01,502 | 46.9% |
| 23 Oct 2026 | 785.10 | 787.05 | 746.65 | 764.25 | 759.78 | 2,88,352 | 56.5% |
| 22 Oct 2026 | 797.00 | 807.60 | 775.00 | 791.00 | 791.64 | 1,52,663 | 35.7% |
| 21 Oct 2026 | 806.25 | 816.60 | 788.35 | 796.75 | 798.28 | 1,06,182 | 49.4% |
| 19 Oct 2026 | 820.80 | 824.80 | 798.00 | 803.00 | 813.32 | 1,17,379 | 46.0% |
| 16 Oct 2026 | 821.00 | 828.00 | 812.70 | 817.45 | 819.47 | 82,976 | 42.2% |
| 15 Oct 2026 | 817.20 | 826.00 | 811.20 | 820.40 | 818.63 | 64,086 | 45.5% |
Company details
- NSE symbol
- VARROC
- BSE code
- 541578
- ISIN
- INE665L01035
- Industry
- Auto Components
- Website
- www.varrocgroup.com
- CIN
- L28920MH1988PLC047335
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1988
- Registered office
- L-4, MIDC Area, Waluj, Aurangabad 431136, Maharashtra
- Share registrar
- MUFG Intime India Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments