Varroc Engineering Ltd

Varroc Engineer Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Varroc Engineering Ltd

₹ 578 -1.19%
27 Sep 9:45 a.m.
varrocgroup.com BSE: 541578 NSE: VARROC
About

Varroc Engineering Ltd was incorporated in 1988, is the flagship company of the Aurangabad-based Varroc Group. Varroc is a global tier-1 automotive component group. It is engaged in the business of manufacturing and supplying automobile components to a wide range of OEMs across the globe[1]

Key Points

History[1]
The Group was initially established as a captive unit for Bajaj Auto Limited's (BAL’s)auto components and gradually diversified by adding new customers and products to its portfolio.

Website BSE NSE
  • Market Cap ₹ 8,835 Cr.
  • Current Price ₹ 578
  • High / Low ₹ 717 / 382
  • Stock P/E 22.7
  • Book Value ₹ 59.6
  • Dividend Yield 0.00 %
  • ROCE 12.5 %
  • ROE 49.1 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 24.6% CAGR over last 5 years
  • Debtor days have improved from 30.1 to 18.2 days.

Cons

  • Stock is trading at 9.82 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 7.95% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Auto Ancillaries Industry: Auto Ancillaries

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024
666 888 857 881 919 1,094 979 942 1,054 1,111 1,170 1,200 1,136
617 812 805 817 865 1,018 897 871 979 1,027 1,061 1,008 1,027
Operating Profit 49 76 51 64 54 76 82 71 75 84 108 192 109
OPM % 7% 9% 6% 7% 6% 7% 8% 8% 7% 8% 9% 16% 10%
9 25 14 16 15 -1,312 2 -1 -2 16 5 4 3
Interest 13 17 29 32 34 41 47 48 44 47 43 44 41
Depreciation 40 44 44 43 45 44 49 57 47 50 49 51 45
Profit before tax 7 40 -7 5 -9 -1,321 -12 -35 -19 3 21 100 26
Tax % 23% 39% -46% 98% -37% 2% -102% -20% -28% 33% -1,349% 36% 31%
5 25 -4 0 -6 -1,353 0 -28 -14 2 304 64 18
EPS in Rs 0.34 1.62 -0.26 0.01 -0.38 -88.58 0.01 -1.82 -0.88 0.14 19.91 4.21 1.16
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
1,435 1,380 1,478 1,559 1,676 2,047 2,573 2,498 2,562 3,292 3,940 4,535 4,617
1,273 1,249 1,323 1,425 1,515 1,829 2,304 2,254 2,326 3,050 3,652 4,086 4,123
Operating Profit 162 132 155 134 161 218 269 245 236 241 288 449 494
OPM % 11% 10% 11% 9% 10% 11% 10% 10% 9% 7% 7% 10% 11%
15 4 19 16 32 29 51 72 111 65 -1,302 34 28
Interest 52 47 425 -79 47 40 39 45 56 91 170 179 176
Depreciation 56 62 80 82 96 102 108 144 154 170 194 198 196
Profit before tax 69 26 -330 147 50 105 174 128 137 45 -1,378 106 150
Tax % 23% -2% 3% 3% 16% 34% 31% 19% 33% 42% 1% -238%
53 27 -339 143 42 70 120 104 92 26 -1,387 357 388
EPS in Rs 50.18 25.82 -323.87 136.33 34.11 5.67 8.87 7.70 6.03 1.70 -90.77 23.37 25.42
Dividend Payout % 2% 3% -1% 3% 10% 9% 51% 39% -0% -0% -0% -0%
Compounded Sales Growth
10 Years: 13%
5 Years: 12%
3 Years: 21%
TTM: 13%
Compounded Profit Growth
10 Years: 26%
5 Years: 25%
3 Years: 67%
TTM: 530%
Stock Price CAGR
10 Years: %
5 Years: 5%
3 Years: 26%
1 Year: 21%
Return on Equity
10 Years: 5%
5 Years: 8%
3 Years: 8%
Last Year: 49%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 10 10 10 10 12 12 13 13 15 15 15 15
Reserves 498 827 284 673 933 998 1,115 1,124 1,902 1,926 539 895
529 475 1,070 734 485 478 394 531 526 1,181 1,746 1,396
301 342 298 330 329 472 515 796 884 1,085 947 924
Total Liabilities 1,339 1,654 1,663 1,747 1,759 1,960 2,038 2,464 3,327 4,208 3,248 3,231
438 547 727 752 794 801 882 1,035 1,009 1,128 1,169 1,101
CWIP 258 210 32 45 25 22 54 108 157 62 43 19
Investments 252 504 469 477 465 465 465 441 1,023 1,023 944 959
391 393 436 474 475 672 638 880 1,138 1,995 1,092 1,152
Total Assets 1,339 1,654 1,663 1,747 1,759 1,960 2,038 2,464 3,327 4,208 3,248 3,231

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
39 46 151 157 342 355 160 428 229 525
-21 -85 -81 -97 -217 -173 -663 -1,208 -427 -6
-21 33 -77 -47 -125 -56 624 576 306 -609
Net Cash Flow -2 -6 -6 13 0 126 121 -205 108 -90

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 52 40 45 54 55 69 43 37 52 44 28 18
Inventory Days 37 49 55 60 59 55 49 62 68 60 57 48
Days Payable 77 96 80 88 86 96 81 116 123 126 87 89
Cash Conversion Cycle 12 -8 20 25 28 28 12 -17 -3 -22 -2 -23
Working Capital Days 31 10 30 -1 18 19 -7 -17 6 99 -1 -7
ROCE % 7% 7% 5% 7% 10% 14% 11% 8% 5% 5% 12%

Shareholding Pattern

Numbers in percentages

2 Recently
Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
4.00% 3.48% 3.92% 3.28% 3.51% 4.67% 5.04% 5.07% 5.00% 4.57% 4.22% 4.24%
13.82% 14.18% 14.92% 15.07% 14.31% 12.23% 12.02% 12.21% 12.43% 11.44% 12.15% 12.74%
7.18% 7.34% 6.16% 6.65% 7.18% 8.11% 7.94% 7.73% 7.58% 8.99% 8.64% 8.04%
No. of Shareholders 70,82768,09068,08280,83178,87785,62387,12684,43381,78988,08086,73889,549

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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