Varroc Engineering 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

Keep track of all breaking news on Varroc Engineering from all sources in a single place.

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Varroc Engineering Ltd.

23 May 2023

648.00

-2.51%

to see Rapid results content

Varroc Engineering Ltd.

09 Feb 2023

648.00

-2.51%

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.

ICICI Securities Limited increased Buy price target of Varroc Engineering Ltd. to 745.0 on 13 Nov, 2025.

Varroc Engineering Ltd.

07 Feb 2023

648.00

-2.51%

to see Rapid results content

Varroc Engineering Ltd.

15 Nov 2022

648.00

-2.51%

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

Business Line

Operational PBT came in at 54.5 crore

ICICI Securities Limited increased Buy price target of Varroc Engineering Ltd. to 745.0 on 13 Nov, 2025.

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

648.00

-2.51%

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.

Varroc Engineering Ltd. is trading above all available SMAs

Varroc Engineering Ltd.

14 Nov 2022

648.00

-2.51%

to see Rapid results content

Varroc Engineering Ltd.

07 Oct 2022

648.00

-2.51%

Varroc Engg tanks 9% as firm sells 4-wheeler lighting biz at reduced price

Business Standard

As per the revised terms, the said transaction price was reduced from euro 600 million to euro 520 million.

Varroc Engineering has gained 25.40% in the last 1 Year

Varroc Engineering Ltd.

15 Aug 2022

648.00

-2.51%

Undergoing consolidation before turnaround

Buy: Varroc Engineering Ltd.

ICICI Securities Limited

Varroc Engineering’s (VAR) ongoing operations’ revenue declined marginally ~1% QoQ to Rs16.3bn, with QoQ decline being led by ex-India operations of Italy forging and global 2W lighting.

Varroc Engineering has gained 25.40% in the last 1 Year

Varroc Engineering Ltd.

12 Aug 2022

648.00

-2.51%

Varroc Engineering's Q1 loss narrows to Rs 85 crore; revenue rises 36%

Business Standard

Auto parts maker and supplier Varroc Engineering on Friday reported narrowing of net loss to Rs 84.51 crore on a consolidated basis in the June quarter. The company had posted a net loss of Rs 229.28 crore in the year-ago period, according to a regulatory filing. Revenue from continued operations surged 36.25 per cent to Rs 1,628.28 crore in the latest June quarter. The same stood at Rs 1,194.99 crore in the corresponding quarter of FY22. The first quarter of FY23 has started with a stable outlook for automotive on back of a forecast of a normal monsoon. The growth is visible mainly due to low base, Varroc Engineering CMD Tarang Jain said in a statement. Semiconductor supply issues continue to impact premium two-wheeler manufacturers whereas passenger vehicle manufacturers are seeing improved supplies, he noted. "Geopolitical issues have resulted in higher energy cost as well as food inflation which is forcing most of the central banks to hike interest rates at a pace which has no