NSE: VARROC | BSE: 541578

Falling Comet

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407.10 6.20 (1.55%)

New 52W Low in past week

100.7K NSE+BSE Volume

NSE 11 Apr, 2025 3:31 PM (IST)

6,219.9

Market Cap

High in industry

1.2

Beta 1Year

Very High Volatility

Varroc Engineering Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for VARROC, BSE:541578 Varroc Engineering Ltd.

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Varroc Engineering Ltd.

18 Feb 2025

407.10

1.55%

Strong order book boosts earnings outlook

Buy: Varroc Engineering Ltd.

Target

Khambatta Securities

Varroc Engineering reported healthy revenue growth of 10.1% y-o-y in 3QFY25. This was driven primarily by a strong showing by the company’s India business, which achieved 9.5% growth despite headwinds in the 2W, 3W and PV markets.

Varroc Engineering Ltd. has lost -32.53% in the last 3 Months

Varroc Engineering Ltd.

18 Nov 2024

407.10

1.55%

Strong order book and new products to drive future earnings

Buy: Varroc Engineering Ltd.

Recommendation Target

Khambatta Securities

Varroc Engineering reported healthy revenue growth of 10.3% y-o-y in 2Q FY25. The growth is primarily attributable to the strong performance of the Indian business, which saw a 13.4% expansion, offsetting the decline in overseas operations.

Varroc Engineering Ltd. is trading below all available SMAs

Varroc Engineering Ltd.

16 Sep 2024

407.10

1.55%

Modest growth amid overseas challenges

Hold: Varroc Engineering Ltd.

Recommendation Target

Khambatta Securities

Varroc Engineering reported 5.2% y-o-y growth in 1Q FY25, driven by strong growth in India offsetting the decline in overseas operations.
Quarterly EBITDA (excl. MTM FX impact) declined 4.3 % y-o-y as EBITDA margin slid 90 bps y-o-y to 9.1%.

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

Varroc Engineering Ltd.

07 Aug 2024

407.10

1.55%

Sub-10% EBITDA margin trend continues; downgrade to HOLD

Hold: Varroc Engineering Ltd.

Recommendation Target

ICICI Securities Limited

Varroc Engineering’s (VAR) EBITDAM stood at 9.2%, down ~30bps YoY, and 100bps lower than consensus estimate in Q1FY25.

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

Varroc Engineering Ltd.

18 May 2024

407.10

1.55%

Decent Q4 performance adjusting for one-offs; already executing debt reduction

Buy: Varroc Engineering Ltd.

Recommendation Target

ICICI Securities Limited

Varroc Engineering’s (VAR) EBITDAM stood at 11.2%, up ~190bps QoQ, and 90bps higher than consensus estimate in
Q4FY24, though reported margin included multiple one-offs, including retrospective incentives and provisions from specific EV customer

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

Varroc Engineering Ltd.

08 Nov 2023

407.10

1.55%

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. has lost -32.53% in the last 3 Months

Varroc Engineering Ltd.

10 Aug 2023

407.10

1.55%

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.

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

Varroc Engineering Ltd.

25 May 2023

407.10

1.55%

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.

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

Varroc Engineering Ltd.

09 Feb 2023

407.10

1.55%

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.

Varroc Engineering Ltd. has lost -29.29% in the last 6 Months

Varroc Engineering Ltd.

15 Nov 2022

407.10

1.55%

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 below all available SMAs

Is Varroc Engineering Ltd. worth buying?

234 Votes:

Buy 79.06%

Sell 15.81%

Hold 5.13%

RESEARCH REPORTS

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Buy SEE REPORTS >

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