Varroc Engineering Limited · NSE:VARROC
Varroc Engineering — Q4 FY2024 Earnings Presentation
16 slides from Varroc Engineering's earnings presentation, May 18, 2024
Slide 1: Exchange cover letter: Press Release and Investor Presentation
Varroc Engineering Limited Regd. & Corp. Office L-4, MIDC, Industrial Area Tel + 91 240 6653700 email: varroc.info@varroc.com Waluj, Aurangabad 431 136, Fax + 91 240 2564540 www.varroc.com Maharashtra, India CIN: L28920MH1988PLC047335 VARROC/SE/INT/2024-25/21 May 17, 2024 To, The Manager- Listing Th
Slide 2: Press Release
Press Release Varroc Engineering Profit Before Tax grew by 280% for FY24 vs FY23 and reduces it net debt below 10,000 million. • Consolidated revenue from operations was ₹75,519 million in FY24 • Consolidated PBT margins in FY24 were at 4.2%, improved by 300 bps • Net Debt/Equity improves to 0.64 in
Slide 3: Press Release
Press Release We continue to win business for our focused product lines and increase the capacity utilization levels. IN FY24, our lifetime new business win has been over Rs. 87 billion. The annual peak value is around Rs.15 billion. These wins are likely to generate additional revenue of Rs.8.5 bil
Slide 4: Press Release Safe Harbor
Press Release This release contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Varroc Engineering Limited future business developments and economic perfor
Slide 5: Presentation to Investors - Q4 FY24
Presentation to Investors - Q4 FY24 17th May 2024 1
Slide 6: Disclaimer
Disclaimer This presentation may include statements which may constitute forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, business development, market position, expenditures,
Slide 7: Update on Q4 & FY Performance
Update on Q4 & FY 24 Performance 17th May 2024 1
Slide 8: Highlights for FY24 & Q4 FY24
Highlights for FY24 & Q4 FY24 1.Revenue for FY24 at 75,519 mn with a growth of 9.6% driven by strong India business growth of 14.1% . Q4 FY24 revenue grew by 16.2% YoY to Rs. 19,749 mn with India business growing by 23.7%. 2. Improved profitability for full year FY24 as well as for Q4 FY24 FY 24 PBT
Slide 9: Automotive Production in India
Automotive Production in India 5.52 5.48 • In Q4 FY24 Strong domestic macro factors resulted most of the 4.37 Units in million segment to grow on YoY basis other than CV segment. CV de- grew marginally on back of pre-buying which took place last year due to OBD norms. • 2W grew by 26.5% • 3W grew by
Slide 10: Consolidated Financials of Q4 FY24
Consolidated Financials of Q4 FY24 19749 5.3% Rs. In Million Q4 FY24 Q4 FY23 YoY Q3 FY24 QoQ 18846 Revenue 19,749 16,991 16.2% 18,846 4.8% 16991 3.7% EBITDA 2,187 1,593 37.2% 1,731 26.3% 2.4% EBITDA % 11.1% 9.4% 170 bps 9.2% 190 bps PBT 1,050 411 155.2% 708 48.3% Q4 FY23 Q3 FY24 Q4 FY24 PBT % 5.3% 2
Slide 11: Consolidated Financials of FY24
Consolidated Financials of FY24 75519 4.2% Rs. In Million FY24 FY23 YoY Revenue 75,519 68,912 9.6% EBITDA 7,590 5,966 27.2% Multiplier i.e. operating 68912 leverage at each level EBITDA % 10.1% 8.7% 140 bps 1.2% PBT 3,149 829 280% PBT % 4.2% 1.2% 300 bps FY23 FY24 Revenue PBT % PAT 5,530 388 1,326%
Slide 12: Consolidated Balance Sheet & Return Ratios
Consolidated Balance Sheet & Return Ratio’s 31st March 2023 Rs. in Million 31st March 2024 30 th Sptember’23 Net Debt 9,828 10,064 12,779 Equity 15,262 10,658 10,042 Annualised Adjusted EBITDA 7,590 7344 5986 Net Debt/Equity 0.64 0.94 1.27 Net Debt/EBITDA 1.29 1.37 2.13 ROCE (Annualized) 28.7% 23.0%
Slide 13: Revenue Breakdown for FY24
Revenue Breakdown for FY24 Business Unit Segment Electrical Electronics Lighting Others, 2.5% 7.0% 2.5% 8.4% Polymer 4 Wheeler, 22.7% 37.8% Metallic 11.9% Aftermarket 2&3 Wheeler, Other (Overseas) 74.8% 32.3% Lighting & Electronics Overseas Geography Customer Outside India, 13.0% Bajaj, 42.3% Non-Ba
Slide 14: New Lifetime Order Win in FY24
New Lifetime Order Win in FY24 (Lifetime Value is 86,996 million and Annual Peak Revenue is Rs.15,288 million) New business win adding to our revenue* in next 3 years Lifetime Revenue win from ICE & EV Players 17500 14500 8500 42.8% EV ICE 57.2% 37,209 49,787 FY25 FY26 FY27 * Assumption is that the
Slide 15: Awards
AWARDS VEL- Platinum Award VEL-(Q & D Award) VEL-I Gold Award ELECTRONICS R&D (Elcina Award) VEL- Super Platinum Award VEL- HMSI ANNUAL SUPPLIER AWARD VEL - HR Best Practise
Slide 16: Thank You
THANK YOU PERFORM@CHANGE