519.65
-0.52%
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 below its 30 day SMA of 547.6
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