Investor Presentation

Varroc Engineering reported Q4 FY26 revenue of Rs 23,681 million, up 12.8% YoY, with full-year FY26 revenue at Rs 88,905 million, up 9.0%. PBT margin before JV and exceptional items improved to 4.3% in FY26 from 3.8% in FY25 — a 50 bps improvement attributed to control on capex and better FCF generation lowering depreciation and interest costs as a percentage of revenue. EBITDA margin for FY26 was 9.4% (down 10 bps YoY due to higher overseas R&D spending). Net debt decreased by Rs 2,528 million during FY26 to Rs 4,952 million, with Net Debt/EBITDA improving from 1.29x (Mar 2024) to 0.54x (Mar 2026). The company won its highest-ever net new orders in FY26 with annual peak revenue potential of Rs 32,889 million, with over 65% from EV models. Outstanding order book at end FY26 stands at Rs 35,090 million. EV revenue contributed ~13% of FY26 revenue, growing 39% YoY. Board recommended dividend at 150% of face value.