Varroc Engineering Limited — PPTs, 05-02-2026: Investor Presentation

Varroc Engineering's Q3 FY26 results show solid performance.

1. **Business Performance:** Revenue jumped 10.2% YoY to Rs. 2,287.5 Cr, largely driven by India operations (up 12.3%). EV model revenue soared 53% YoY, now making up 14.3% of Q3 revenue. PBT (before exceptional items) improved to 4.4% from 3.2% YoY, and EBITDA edged up to 9.3%.

2. **Growth Drivers or Strategy:** The company secured its highest-ever new order wins in 9M FY26, with Rs. 2,063.6 Cr peak annual revenue potential, over 74% from EV models. Strategic focus on EV and advanced electronics is key. Cost structure improved by VRS spending with a ~4-year payback.

3. **Recent Developments:** Notable wins include HV PCBA for a global EV OEM in Romania and 4W lighting for EV OEMs in Thailand and India. The company filed over 15 new patents this period, bringing the total to over 130.

4. **Key Financial Metrics:** Net debt increased slightly to Rs. 440.5 Cr due to VRS, but Net Debt/EBITDA remains healthy at 0.52.

5. **Management Commentary / Outlook:** The company aims for profitable growth, margin improvement, and strong free cash flow conversion, with R&D for advanced electronics and 4W lighting poised to boost overseas business post-October 2025.