Varroc Engineering Limited — Others, 29-05-2025: Change in Director(s)

Varroc Engineering has announced a board meeting outcome approving the financial results for the quarter and half-year, reporting standalone revenue of Rs. 736.86 Cr and profit after tax of Rs. 38.07 Cr, up from Rs. 667.6 Cr and Rs. 27.6 Cr respectively. Consolidated revenue reached Rs. 817.18 Cr with a profit of Rs. 6.97 Cr, impacted by an exceptional impairment loss tied to the disposal of its China JV, Varroc TYC Corporation. A final dividend of Re. 1 per share has been proposed, subject to shareholder approval. Leadership changes include a new independent director and reappointments of key executives. The board also approved updates to authorized capital and corporate objectives post-merger with Varroc Polymers Limited, along with auditor appointments. The company is managing ongoing GST-related appeals and arbitration issues involving the China JV, with related provisions recorded as exceptional items.