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: 5
Author: ICICI Securities Limited

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Varroc Engineering Ltd.

09 Aug 2023

430.15

-2.74%

to see Rapid results content

Varroc Engineering Ltd.

25 May 2023

430.15

-2.74%

Business tailwinds getting ready to drive the much awaited debt reduction

Buy: Varroc Engineering Ltd.

Target

ICICI Securities Limited

Varroc Engineering’s (VAR) EBITDA margin for Q4FY23 came in at 9.2%, 139bps higher QoQ, and higher than our estimate of 7%, mainly due to business mix, recoveries and operating leverage other than specific benefits of retrospective cost pass through in Q4.

Number of FII/FPI investors increased from 92 to 98 in Dec 2024 qtr.

Varroc Engineering Ltd.

23 May 2023

430.15

-2.74%

Varroc Engineering swings to profit on strong demand in March quarter

Business Standard

Revenue from operations rose nearly 2.3% to 16.90 billion rupees, outpacing expenses, which grew 0.8%

Varroc Engineering Ltd. has lost -26.98% in the last 3 Months

Varroc Engineering Ltd.

23 May 2023

430.15

-2.74%

to see Rapid results content

Varroc Engineering Ltd.

09 Feb 2023

430.15

-2.74%

Margin on recovery path

Buy: Varroc Engineering Ltd.

ICICI Securities Limited

Varroc Engineering’s (VAR) Q3FY23 EBITDA margin came in at 7.8%, up 280bps YoY, mainly led by improved operating leverage on account of 15%, YoY revenue growth with gross margin remaining unchanged. Revenue growth of 15% YoY to Rs17.2bn was mainly driven by organic growth in India business on a low base, cost inflation pass on and new business initiatives in EV/electronics.

Number of FII/FPI investors increased from 92 to 98 in Dec 2024 qtr.

Varroc Engineering Ltd.

07 Feb 2023

430.15

-2.74%

to see Rapid results content

Varroc Engineering Ltd.

15 Nov 2022

430.15

-2.74%

Varroc Engineering consolidated revenue up 21 per cent at 1,834 crore

Business Line

Operational PBT came in at 54.5 crore

Varroc Engineering Ltd. has lost -26.98% in the last 3 Months

Varroc Engineer Standalone September 2022 Net Sales at Rs 1,088.73 crore, up 22.58% Y-o-Y

Moneycontrol | 14 Nov 2022

Varroc Engineering Ltd.

15 Nov 2022

430.15

-2.74%

Steady India performance; debt-reduction the key

Buy: Varroc Engineering Ltd.

Target

ICICI Securities Limited

Varroc Engineering’s (VAR) adjusted EBITDA margin for Q2FY23 came in at 9.2% against our estimate of 8.6%, with India operations margin at 9.8% and overseas 3%. Revenue grew 12% QoQ to Rs18.3bn led by 17% QoQ rise in India business.