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Varroc Engineering Stock Fundamental Analysis - Financial Results & Equity Research | Invest Yadnya Stock-o-Meter

Varroc Engineering

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About

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Relaince Group

Sector: Refineries

Market Price

2,529.50

Market Cap(₹Cr.)

2,529.50

-90.00

Quarterly Results ( Figures in Rs. Crores.)

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Profit & Loss ( Figures in Rs. Crores.)

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Shareholders more than 1%

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Overview

Varroc Engineering Ltd. is a global tier-1 automotive component group. It commenced operations in India with its Polymer business in 1990. it design, manufacture and supply exterior lighting systems, plastic and polymer components, electrical-electronics components, and precision metallic components to passenger car, commercial vehicle, two-wheeler, three-wheeler and off-highway vehicle (OHV) OEMs directly worldwide. It is the second largest Indian auto component group (by consolidated revenue for FY 2017) and a leading tier-1 manufacturer and supplier to Indian two-wheeler and three-wheeler OEMs (by consolidated revenue for FY 2017). It offers the best design solutions that provides its customers a competitive edge in their markets. This has helped Varroc place itself as the most preferred partner with all leading OEMs in the automotive segment across the world.

Business area of the company

The Company is focused on designing, manufacturing and supplying exterior lighting systems, plastic and polymer components, and electrical and electronics components. It also supplies precision metallic components to passenger car, commercial vehicle, two-heeler, three-wheeler and off highway vehicle (OHV). The Company's segments include Polymer, Electrical, Engine valve, Forged components, and Lighting.

Awards

  • 2014: Received the ‘New Part Development Award’ by Honda Motorcycle and Scooter India Private Limited
  • 2014: Named as one of the ‘Top 100 Companies’ in Czech Republic
  • 2014: Named as one of the ‘Top 100 Companies’ in Czech Republic
  • 2015: Won the ‘PSA Best Plant Award’
  • 2016: Awarded the ‘Emerging Manufacturing Giant’ by the honourable Chief Minister of Maharashtra, India, Mr. Devendra Fadnavis, on behalf of Indian Merchant Chambers
  • 2016: Given the ‘Supplier Quality Excellence Award’ by General Motors
  • 2016: Awarded ‘Emerging Manufacturing Giant’ by the chief minister of Maharashtra, India, Mr. Devendra Fadnavis, on behalf of Indian Merchant Chambers
  • 2017: National Safety Council awarded it for ‘Lowest average frequency accident rate and zero accident frequency rate’
  • 2017: Jaguar Land Rover bestowed it with the ‘Global Supplier of the Year Award’
  • 2017: Received the ‘FCA Innovation Award’ for Dodge Challenge Head Lamp 193
  • 2017: Won the ‘2016 General Motors Quality Excellence award
  • 2017: Claimed the ‘Ford Q1 Award’- Only 2nd lighting supplier in China to receive this award
  • 2017: Awarded for ‘Overall Performance Of The Year’ by Maruti Suzuki
  • 2017: Presented with an award for ‘Electrical and Electronics Excellence in Automotive Lighting’ by the International Centre For Automotive Technology
  • 2017: Bagged the ‘Electronics Co. Of The Year’ award by ELCINA
  • 2018: Handed the ‘Best Quality Award’ by FCA
  • 2018: Mr. Tarang Jain, Managing Director, has been inducted into the ‘Automotive Hall of Fame’ at the ET Polymers Global Conference on Plastics in Automotive
  • 2019: Varroc Polymer plant team bagged 2 OHS-India Safety Awards for Innovation and Excellence
  • 2019: Varroc’s Paper on ‘ELECTRICAL MOBIITY’ has been awarded the ‘BEST PAPER’ at the SIAT 2019
  • 2019: Varroc’s Polymer division bagged the ‘Award for Delivery Management 2018-19’ at the Annual Supplier Conference of Honda Two-wheelers Ltd.
  • 2019: Varroc’s polymer division recognized by Volvo Eicher Commercial Vehicles (VECV) with Outstanding Contribution in New Product Development award
  • 2019: Performance Award for ‘Incoming Quality Improvement’ at Suzuki Motorcycles India Pvt. Ltd.’s 2019 Suppliers’ Meet.
  • 2019: Varroc Polymer Business recognized for ‘Excellence in Delivery’ by Mahle Behr India Pvt Ltd., during their Supplier Meet 2019

Milestones

  • 1990: Began journey through Polymer business
  • 1996: Emergence of Electrical-Electronics business unit
  • 1997: Engine Valves manufacturing
  • 2000: Established as 'Supplier of Choice' for Bajaj Electronics Pvt. Ltd.
  • 2004: Emergence of Metallic Forgings business unit
  • 2005: Formed Varroc Exhaust System Pvt. Ltd. for two-wheeler & three-wheeler catalytic converters
  • 2007: Acquired first overseas company - IMES (Italy), a forging business
  • 2011: Acquired TRIOM (Italy), a hi-end lighting systems player for global two-wheelers
  • 2012: Acquired Visteon's Global PV Lighting Business
  • 2014: Received Investment by Omega TC Holdings Pte. Ltd. and Tata Capital Financial Services Limited
  • 2014: Acquired 50% stake in Varroc TYC Corporation BVI (China)
  • 2015: Signed a letter of intent with Heraeus, Germany based technology group, for catalytic converters for two-wheelers in India
  • 2015: Acquired Sa-Ba, an exterior automotive lighting company in Turkey
  • 2015: Developed Electronic Fuel-injection Technology for two-wheelers and three-wheelers in India
  • 2015: Varroc Engineering Ltd. got listed on BSE and NSE
  • 2015: Announced intention to set up two new manufacturing facilities in Chennai, India and Poland to further expand globally
  • 2019: Acquisition of 74% stake in CarIQ, a leading telematics solutions provider (August 2019)
  • 2019: Morocco and Brazil facilities started in February/March 2019.
  • 2020: Varroc Engineering’s wholly-owned subsidiary -- VarrocCorp Holding B.V., the Netherlands (VCHBV) has acquired balance 30% stake i.e. 60,000 equity shares of Varroc-Elba Electronics S.R.L (Varroc Elba) held by the other JV Partner, ELBA SA, Romania for an aggregate consideration of Euro 1.05M.
  • 2020: Varroc Engineering’s overseas Wholly Owned Subsidiary (WOS) -- Aries Mentor Holding B.V. (AMHBV) situated in Netherlands has merged with VarrocCorp Holding B.V. (VCHBV), WOS of the company with effect from March 4, 2020.
Brands Of Varroc Engineering

Brands Of Varroc Engineering

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