Varroc Engineering Ltd. News and Updates

Name: Latest research reports of Varroc Engineering Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Varroc Engineering Ltd.
Rating: 4
Author: ICICI Securities Limited

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Varroc Engineering Ltd.

17 May 2024

472.50

7.59%

to see Rapid results content

Varroc Engineering Ltd.

02 Apr 2024

472.50

7.59%

Varroc Engineering signals Buy post Inverted Head and Shoulder breakout: Axis Securities

Moneycontrol

Axis Securities recommends accumulating Varroc Engineering in the Rs 540-530 range, with a target price of Rs 595, offering an upside potential of 11-15 percent.

Varroc Engineering Ltd. high volume past week with price gain of 14.57.

Varroc Engineering Ltd.

10 Feb 2024

472.50

7.59%

Varroc Engineering Q3 FY24 Results Live : profit rise by 1773.7% YOY

livemint

Varroc Engineering Q3 FY24 Results Live : Revenue increased by 9.78% YoY & profit increased by 1773.7% YoY

Varroc Engineering L.. has an average target of 585.50 from 2 brokers.

Varroc Engineering Ltd.

07 Feb 2024

472.50

7.59%

to see Rapid results content

Varroc Engineering Ltd.

08 Nov 2023

472.50

7.59%

In-line operating performance; key focus on debt reduction

Accumulate: Varroc Engineering Ltd.

Recommendation Target

ICICI Securities Limited

Varroc Engineering’s (VAR) EBITDAM for Q2FY24 stood at 10.3%, up ~80bps QoQ, and 70bps higher than consensus estimate though revenue was in line. VAR is operating at ~60-65% capacity utilisation, with margin improvement ahead being driven by operating leverage and focus on fixed cost/GM.

Varroc Engineering Ltd. is trading above its 30 day SMA of 454.3

Varroc Engineering Ltd.

07 Nov 2023

472.50

7.59%

to see Rapid results content

Varroc Engineering Ltd.

04 Oct 2023

472.50

7.59%

Varroc Engineering shares jump 3%, hit 52-week high

Moneycontrol

Varroc Engineering shares hit a fresh 52-week high on October 4, trading above all key moving averages.

Varroc Engineering L.. has an average target of 585.50 from 2 brokers.

Varroc Engineering Ltd.

14 Aug 2023

472.50

7.59%

Buy Varroc Engineering; target of Rs 406: ICICI Direct

Moneycontrol

ICICI Direct is bullish on Varroc Engineering recommended buy rating on the stock with a target price of Rs 406 in its research report dated August 10, 2023.

Varroc Engineering Ltd. high volume past week with price gain of 14.57.

Varroc Engineering Ltd.

10 Aug 2023

472.50

7.59%

Varroc Engineering jumps 12% on Q1 profit, debt reduction

Moneycontrol

During the April-June quarter, Varroc Engineering Ltd. announced a reduction in its debt by Rs 50 crore. This reduction in debt has consequently led to a quarter-on-quarter decrease in interest costs

Varroc Engineering Ltd.'s price crossed above 30Day SMA today

Varroc Engineering Ltd.

10 Aug 2023

472.50

7.59%

Profitability improvement continues; debt reduction the key ahead

Buy: Varroc Engineering Ltd.

Target

ICICI Securities Limited

Varroc Engineering’s (VAR) EBITDAM for Q1FY24 was at 9.5%, up 20bps QoQ, and higher than our estimate of 8.7%. The beat was due mainly to better business mix, operating leverage and continued cost-reduction efforts. Revenue increased 6% QoQ to INR 17.9bn due to higher 2W volumes, which accounted for ~70% of revenue.