Varroc Engineering Limited has informed the Exchange about AGM Transcript
VARROC · price
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Varroc Engineering held its 37th AGM on August 21, 2025, sharing FY25 results. Consolidated revenue grew 8% to Rs. 81,541 million, driven by 10.4% growth in India business. PBT margin before JV and exceptional items improved to 3.8% from 3.6%, with ROCE (before tax) at 20.8% and free cash flow of Rs. 3,116 million. The Board recommended a Rs. 1 per share dividend (100% of face value). Key highlights include sale of China JV stake netting RMB 290 million, completion of Varroc Polymers amalgamation, and renewable energy share rising to 31% in FY25 (targeting >50%). New business wins include LED lighting and electronic switches for Hero VIDA, integral starter generator motors for TVS, and EV powertrain components for River. Net debt stood at Rs. 448 crores at end of Q1 FY26, with management targeting net debt-free status by FY27.
Positive signals for shareholders: improved margins, strong ROCE, new order wins with EV focus, and a clear debt-reduction roadmap targeting net debt-free status by FY27. Overseas business recovery is expected from Q2 FY27 as new order SOPs commence.