Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · VARROC ENGINEERING LTD. · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
VARROC ENGINEERING LTD.
NSE: VARROC · BSE: 541578
NSE: VARROC · BSE: 541578
Consumer Discretionary › Automobile and Auto Components › Auto Components › Auto Components & Equipments
VARROC ENGINEERING LTD.
StateQ1 FY27 filed
Last close · 28 Oct 2026₹808.30
Market cap₹12.4k cr
TTM P/E · P/B · EV/EBITDA62.6 · 6.79 · 16.8
VARROC ENGINEERING LTD. is a Auto Components company listed on NSE. The annual-report business brief for this company has not been generated yet; the numbers below are as filed.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 5,844 | 6,863 | 7,552 | 8,154 | 8,890 |
| EBITDA (ex other income) | 359 | 547 | 774 | 641 | 786 |
| margin % | 6.1 | 8.0 | 10.2 | 7.9 | 8.8 |
| Owners' profit | (1,110) | (820) | 526 | 61 | 225 |
| EPS, as reported (₹) | (72.64) | (53.66) | 34.43 | 4.01 | 14.73 |
| ROE % · ROCE % | (55.0) · 1.1 | (81.4) · 15.3 | 34.9 · 19.3 | 4.4 · 15.9 | 12.6 · 21.0 |
| Debt / equity (x) | 0.77 | 1.63 | 0.79 | 0.59 | 0.41 |
| Cash from operations | 636 | 661 | 638 | 737 | 537 |
| Capex | (654) | (531) | (257) | (279) | (397) |
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · VARROC ENGINEERING LTD. · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,081 | 2,075 | 2,099 | 2,028 | 2,207 | 2,288 | 2,368 | 2,634 |
| Profit before tax | 90 | (25) | 47 | 143 | 91 | (4) | 107 | 113 |
| Net profit | 58 | (45) | 23 | 107 | 63 | (11) | 70 | 78 |
| EPS (₹) | 3.64 | (3.10) | 1.35 | 6.88 | 3.99 | (0.67) | 4.54 | 5.06 |
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| (i) Automotive (refer note 3) | 2,296 | 25.8 |
| (ii) Others | 72 | 0.8 |
| Automative | 2,222 | 25.0 |
| Others | 170 | 1.9 |
| Automotive | 4,130 | 46.5 |
| Total, before eliminations | 8,890 | 100.0 |
Source: the filed segment block, four quarters summed.
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,69,176 | 38.6 | 3.87 | 15.1 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,39,756 | 59.1 | 9.41 | 34.3 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 83,937 | 118.9 | 8.78 | 30.3 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 63,520 | 52.8 | 8.75 | 29.1 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 56,735 | 45.3 | 9.23 | — | 10.4 | 14.1 | — | 19.4 |
| SONA BLW PRECISION FRGS L | 54,705 | 78.5 | 8.92 | 47.5 | 10.3 | 12.9 | — | 25.1 |
| TUBE INVEST OF INDIA LTD | 41,237 | 67.9 | 2.90 | 15.9 | 7.9 | 12.4 | 30.3 | 10.6 |
| ENDURANCE TECHNO. LTD. | 32,484 | 33.5 | 4.75 | 15.9 | 13.9 | 15.6 | 17.4 | 13.2 |
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 62.6 | 25.3 | 101 of 119 | 15% |
| P/B | 6.8 | 3.2 | 97 of 117 | 17% |
| ROCE | 15.0 | 12.6 | 47 of 125 | 63% |
| ROE | 12.6 | 11.7 | 54 of 117 | 54% |
| Debt / Equity | 0.4 | 0.3 | 67 of 117 | 43% |
| EBITDA margin | 8.7 | 12.2 | 92 of 118 | 22% |
| Revenue growth | 29.9 | 20.2 | 30 of 113 | 74% |
| Profit growth | (27.7) | 24.4 | 96 of 115 | 17% |
| Market cap | 12350 | 1460 | 25 of 126 | 81% |
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · VARROC ENGINEERING LTD. · 29 October 2026Page 3 of 3
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Q2 FY27 results conference call moved to 4:00 p.m. IST | board shareholder meetings | low | — | — |
| 26 Oct 2026 · Varroc signs definitive agreements for 45% stake in Forsee Power | strategic transactions | medium | — | — |
| 26 Oct 2026 · Investor call scheduled for Q2 FY27 results on November 4 | board shareholder meetings | low | — | — |
| 26 Oct 2026 · Board meeting set for November 4 unaudited results | results | low | — | — |
| 16 Oct 2026 · Varroc and Forsee Power form JV to scale EV battery solutions in India | strategic transactions | high | — | — |
| 16 Oct 2026 · Varroc to acquire 45% stake in Forsee Power India for up to 4.5 million euros | board shareholder meetings | medium | — | — |
| 14 Oct 2026 · RBI Compounding Order Under FEMA for Varroc Engineering | regulatory legal | high | — | — |
| 7 Oct 2026 · Routine RTA compliance certificate for Q2 FY27 filed | compliance | minimal | — | — |
| 2 Oct 2026 · Varroc Engineering confirms no deviation in Rs 50 Cr CP proceeds use for Q2 FY27 | compliance | minimal | — | — |
| 2 Oct 2026 · CFO Certificate on Commercial Paper for Quarter ended Sept 30, 2026 | compliance | minimal | — | — |
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in