Slide 1: Exchange filing cover letter
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/2025-26/103 November 12, 2025 To, The Manager- List
Slide 2: Presentation to Investors – Q2 FY26
Presentation to Investors – Q2 FY26 12th November 2025
Slide 3: 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 4: About Us
About Us Varroc is a leading global auto technology company with a product portfolio covering a wide range of electrical, electronics, 08 6100+ Countries Employees lighting, polymer, metallic, after-market and advanced safety solutions 37 Operating Manufacturing Facilities REVENUE USD 954 MILLION BU
Slide 5: Vision, Mission and Values
VARROC Vision Mission Create safe, smart and sustainable future mobility Be the trendsetter in providing mobility solutions that solutions for everyone. offer the highest value for money to customers • Extend India Market leader position in 2W mobility, lighting, and driver assistance to the world •
Slide 6: Our Global R&D Footprint
Our Global R&D Footprint Poland R&D Center China R&D Center Focus Area Focus Area • Interior Lighting • Exterior Lighting • Smart Mobility • Advanced Driver Assist Systems • Driver Monitoring Systems (DMS) (ADAS) • Advance Driver Assist Systems • Intelligent Cockpit (ADAS) Italy R&D Center India R&D
Slide 7: Representation of Varroc
Representation of Varroc Promoter Share Holding Public Share Holding Varroc Engineering Limited 75.0% 25.0% VEL - Standalone Operations Overseas Subsidiaries India Subsidiaries’ IMES ITALY ● E-Mobility Solutions ● ● Varroc Connect (95%) ● Body System Solutions ● ITALY 2W Lighting ● Durovalves India
Slide 8: Update on Q2 FY26 Performance
Update on Q2 FY26 Performance 12th November 2025
Slide 9: Highlights for Q2 FY26
Highlights for Q2 FY26 1.Q2 FY26 Revenue at Rs. 22,073 million with a growth of 6.1% YoY. India Operations registered a 7.9% growth. (Impact of rare earth magnet on India revenue growth - ~ 4%). Revenue from EV customers in Q2 FY26 at ~11.0%. 2. Q2 FY26 PBT (before exceptional and JV profits) at 4.1
Slide 10: Automotive Production in India
Automotive Production in India 6.93 6.26 5.90 • Early festive season, GST reduction and rare earth magnet Units in million issues created a mixed impact on Q2 FY26 • 2W grew by 10.6% • 3W grew by 18.3% • PV grew by 4.2% • CV grew by 11.8% 1.27 1.24 1.33 0.30 0.26 0.36 0.24 0.26 0.26 • In Q2 FY26, on
Slide 11: Consolidated Financials of Q2 FY26
Consolidated Financials of Q2 FY26 Revenue Rs. In million. Particulars Q2 FY26 Q2 FY25 YoY Q1 FY26 QoQ Revenue from operations 22,073 20,808 6.1% 20,276 8.9% 22,073 EBITDA 2,018 2,010 1,919 20,808 20,276 EBITDA % 9.1% 9.7% (60) bps 9.5% (40) bps PBT before JV and exceptional items 912 901 822 PBT be
Slide 12: Consolidated Financials of H1 FY26
Consolidated Financials of H1 FY26 Revenue Rs. In million. Particulars H1 FY26 H1 FY25 YoY Revenue from Operations 42,349 39,796 6.4% EBITDA 3,937 3,734 42,349 39,796 EBITDA % 9.3% 9.4% (10) Bps PBT before JV and exceptional items 1,696 1,346 PBT before JV and exceptional items % 4.0% 3.4% 60 bps PB
Slide 13: Financials of India Operations and Rest of Operations
Financials of India Operations and Rest of Operations* Rs. In million. India Business Overseas Business 4w Advanced Electronics & Lighting R&D for Overseas Business Q2 FY 25 -18% +8% Q2 FY 26 Q2 FY 25 Q2 FY 25 1,464 20,879 Q2 FY 26 Q2 FY 26 19,343 +11% 1,194 2,405 2,160 +24% -20 1,512 1,218 -130 -11
Slide 14: Reduction in Net Debt (consol.)
Reduction in Net Debt (consol.) ₹ in Million 9,828 9,160 8,273 7,860 7,480 4,478 Net Debt 3,800 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1FY26 Q2FY26 Rs. in Million 31st Mar 2024 30th Jun 2024 30th Sep 2024 31st Dec 2024 31st Mar 2025 30th Jun 2025 30th Sep 2025 Net Debt 9,828 9,160 8,273 7,860 7,48
Slide 15: Revenue Breakdown for H1 FY26
Revenue Breakdown for H1 FY26 Business Unit Segment 2.5% 5.8% 10.0% E-Mobility 26% 25.8% ICE-Powertrain Solutions Lighting Solutions HMI Solutions 2&3 Wheeler Body Part Solutions 4 Wheeler & Other 35.2% Aftermarket Others (Overseas) 74% 17.0% 3.8% Geography Customer 11% India 45% Bajaj Outside India
Slide 16: Net New Annual Peak Revenue Win in H1 FY26
Net New Annual Peak Revenue Win in H1 FY26 (Annual Peak Revenue is Rs.8,928 million) Outstanding Order book and expected SoP Revenue % win from 2&3W and 4W Players Rs. in million Expected SoP Annual Peak Revenue FY26 FY27 FY28 39.0% Outstanding Order Book End of FY25 13,079 4,167 8,813 99 61.0% New
Slide 17: Varroc Business-II: In a Glance
Varroc Business-II:- In a Glance Timisoara Exterior Interior Targa Mures Manufacturing Electronics China Location Production Lighting Lighting Krakow Romania Production Production Poland Romania Y Y Y Vietnam Y Y - Thailand - Y - Bielefeld India Y - - Germany Italy - Y - Cambiano Italy Rayong Sales
Slide 18: Thinking Tomorrow Acting Today
Thinking Tomorrow Acting Today New Exterior Lighting Location (THAILAND) New Engineering and Technical Location (China) Exterior Lighting 1V 1R1V 3R1V • Exterior Lighting ADAS Intelligent Cockpit
Slide 19: Compounding Machine of Value
Volume growth on top of inflation Revenue recovery to pave way for profitable Growth growth Debt reduction, less capital-intensive investments and prudent capital deployment in organic + inorganic Sustainable improvement in contribution margins growth opportunities to ensure through economies of sca
Slide 20: Our Businesses
12% Nov 2025 BRILLIANCE @SCALE Our Businesses
Slide 21: Powering India's Mobility: E-Mobility
Powering India’s Mobility: E-Mobility 2 FACILITIES - INDIA • Locally designed, developed and manufactured • Fully IoT enabled machines Motor • Complete vertical integration for Electronic Manufacturing Charger Battery & BMS 48V Motor Controller • Motor Dyno Testing System for testing 2W and Throttle
Slide 22: Powering India's Mobility: ICE Powertrain Solutions
Powering India’s Mobility: ICE Powertrain Solutions 5 FACILITIES - INDIA 2 FACILITIES - ITALY Engine Components • Products developed to meet stricter emission norms under BS VI Valves Transmission Component Crankpins & Balancer • Delivers high performance, cost-effective Designed for 30% longer Deli
Slide 23: Powering India's Mobility: Lighting Solutions
Powering India’s Mobility: Lighting Solutions 5 FACILITIES - INDIA 5 FACILITIES - GLOBALLY Visibility System • Varroc is delivering cutting-edge Visibility and Indication Systems for 2W, 3W, and 4W vehicles Headlamps Projector Modules • Our expertise spans LED, Matrix and Xenon Deliver 50% better il
Slide 24: Powering India's Mobility: HMI Solutions
Powering India’s Mobility: HMI Solutions 3 FACILITIES - INDIA Hardware Solutions • Varroc HMI solutions enhance rider control, connectivity, and safety with advanced instrument clusters, telematics, sensors, and switches. Digital Instrument Cluster Smart Telematics & Monitoring System Offer 40% brig
Slide 25: Powering India's Mobility: Body System Solutions
Powering India’s Mobility: Body System Solutions Exterior & Interior Molded Parts 14 FACILITIES - INDIA • Varroc offer end-to-end design, development, and Exterior Molded Components Tail Lamp Assembly Soft Door Trim Cockpit/ Dashboard Molded-in-color design offers a Integrated tailgate with lighting
Slide 26: Powering India's Mobility: Aftermarket
Powering India’s Mobility: Aftermarket EXPORTS TO Our Product Portfolio 30+ COUNTRIES PAN INDIA DISTRIBUTOR +310 Cities +720 Distributors East 765 West 12% 1,706 West 27% North Export 1,253 South Lighting Spare Parts 20% Export Electrical, Electronics, and Lighting products Includes forged component
Slide 27: Our Key Strengths
Our Key Strengths Strong Competitive Long Standing, Low-Cost Continuous Focus on Comprehensive Position in a Growing Customer Manufacturing R&D Capabilities Solution Provider Growing Market Relationships Footprint Enhancing Portfolio Segment • End-to-end services • Developing innovative, cost- • Str
Slide 28: Sustainability
BRILLIANCE @SCALE Sustainability
Slide 29: ESG Framework
ESG Framework At Varroc, our ESG & Sustainability vision is to co-create a sustainable value for our stakeholders through innovative research, engineering, & manufacturing of environmentally sustainable products for mobility sector through environment friendly operations aligning with our corporate
Slide 30: Commitment to Environment
Commitment to Environment RENEWABLE ENERGY GHG EMISSIONS ▪ 30% Renewable energy contributions. ▪ 110 Energy efficiency and Energy Commitment to increase to 50% in coming conservation projects/Kaizens implemented years. in FY23. ▪ We generated 52.7 Million units of renewable ▪ Approx. 5 Lakhs Electri
Slide 31: Varroc's Kham River Restoration Mission
Varroc’s Kham River Restoration Mission Our commitment to the Kham River Restoration Project reflects our ethos of blending sustainability, innovation, and community engagement to restore one of Chhatrapati Sambhajinagar’s most crucial water bodies and giving back to the city where we started. 1,24,
Slide 32: Commitment to Society
Commitment to Society Creating meaningful differences to the society through environmental and social welfare projects Kham River Nurturing Future Social Impact Restoration Sports Talent Programs • Kham River Eco Restoration Project was introduced • Varroc Vengsarkar Cricket Academy (VVCA) • Learn a
Slide 33: Thank You
BRILLIANCE @SCALE THANK YOU