Varroc Engineering Limited — Others, 29-05-2025: Shareholders meeting

Varroc Engineering Limited has announced a board meeting outcome including approval of the financial results for the quarter and half-year. The company reported standalone revenue of Rs. 191.33 crore for the quarter with a profit of Rs. 10.57 crore; for the year, standalone revenue was Rs. 736.86 crore and profit after tax Rs. 38.07 crore. Consolidated revenue stood at Rs. 210 crore for the quarter with a profit after tax of Rs. 2.30 crore. Exceptional items included merger costs, customer insolvency provisions, and losses on its China JV investment, which was classified as held for sale and impaired. A final dividend of Re. 1 per share was proposed, subject to shareholder approval. Leadership changes include appointment of an Independent Director and re-appointments of existing directors with remuneration. Authorized share capital was reclassified to Re. 1 equity shares from Re. 10 reflecting merger adjustments. The statutory auditor gave an unmodified opinion on standalone results, while the consolidated audit carried a qualified opinion due to unaudited financials of the divested China JV. The company is contesting GST demands related to classification issues with appeals pending. Operationally, growth is evident post-merger, supported by strategic governance and capital structure updates.