Slide 1: Cover letter to stock exchanges
Varroc Engineering ltd. Regd . & Corp. Office L-4, M ID C, Ind ustrial Area Tel + 91 240 6653700 emai l : varroc. in fo@varroc.co m Wa luj, Aurangab ad 43 1 Fax + 91 240 2564540 www.varroc.com varroc 136, Maharas htra , India CIN: L28920MH1 988PLC047335 EXCELLENCE VARROC/SE/INT /2020-21/66 February
Slide 2: Press Release
Varroc Engineering Limited L-4, MIDC, Industrial Area Waluj, Aurangabad 431 136 Maharashtra, India CIN: U28920MH1988PLC047335 | Tel + 91 240 6653700 | www.varroc.com Press Release • Revenue from Operations for the quarter increased by 25.0% YoY to ₹ 34.9 billion; India business revenue growth at 29%
Slide 3: Press Release continued: China JV, tax and commentary
China JV • China JV recovery from the Covid-19 impact continued. Revenue grew by 61.7% YoY and EBITDA margin was (+)11.6% for the quarter. Our share of the China JV profit was ₹ 110 Million, 10% higher than that of Q3 FY20. Depreciation and amortisation • Depreciation and Amortisation expenses were
Slide 4: About Varroc Engineering Ltd.
About Varroc Engineering Ltd. Varroc Engineering Ltd is a global tier-1 automotive component group, ranked 124th in the 2019 Fortune India 500 list. It was incorporated in 1988. The group designs, manufactures and supplies exterior lighting systems, plastic and polymer components, electricals-electr
Slide 5: Financial Results Q3 FY21
Click to edit Master title style Varroc Engineering Limited Financial Results Q3 FY21 ::9th February 2021::
Slide 6: Disclaimers
Disclaimers Click to edit Master title style 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 developme
Slide 7: Industry Trends in Q3 FY21
Industry Trends in Q3 FY21 Click to edit Master title style Global Passenger Vehicle Market Production +3% -0.3% 7.60m 7.36m 5.17m 5.16m • Passenger Vehicle volumes in -1% Q3 FY21 were nearly flat in 3.84m 3.81m Europe and North America • China PV volumes saw a YoY growth as the industry recovery po
Slide 8: Business Highlights: Q3 FY21
Business Highlights: Q3 FY21 • Click to edit Master title style Revenue from operations for the quarter increased by 25.0% YoY to ₹ 34.9 Billion • Consolidated EBITDA for the quarter at ₹ 2,456 Million declined by 9.0% due to lower margins in VLS • India Business: Revenue increased by 29.2% YoY, ahe
Slide 9: Varroc Group: Financial Performance
Varroc Group: Financial Performance Click to edit Master title style Particulars Q3 FY21 Q3 FY20 Growth 9M FY21 9M FY20 ₹ million Growth (Y-o-Y) (Y-o-Y) Revenue from Operations - Reported 34,927 28,038 25% 76,835 83,771 -8% Other income - Operating 219 78 951 502 Other income - Non operating 26 18 4
Slide 10: Varroc Group: Business Wise Performance Q3 FY21
Varroc Group: Business Wise Performance Q3 FY21 Click to edit Master title style ₹ million Q3 FY21 Q3 FY20 Revenue SBU Revenue EBITDA % EBITDA Revenue EBITDA % EBITDA Change YoY India Business 11,911 1,588 13.3% 9,217 1,064 11.5% 29.2% VLS 22,749 936 4.1% 18,689 1,570 8.4% 21.7% Others (IMES) 517 (6
Slide 11: VLS: New Plants – Current Status and Improvement Initiatives
VLS: New Plants – Current Status and Improvement Intiatives Click to edit Master title style ₹ million except otherwise mentioned Plant name >> Morocco Poland Income statement line YoY YoY YoY YoY Q3 FY21 Q3 FY20 9M FY21 9M FY20 Q3 FY21 Q3 FY20 9M FY21 9M FY20 items Change Change Change Change Reven
Slide 12: Revenue by Customers and Order Wins
Revenue by Customers and Order Wins Click to edit Master title style India Revenue Split by Customer(1) Q3 FY 21 % VLS Revenue Split by Customer (2) Q3 FY 21, % Revenue in Europe Customer A Bajaj 17.1% 19.3% increased by 3.5% YoY Customer B 34.0% Honda Customer C 48.7% Royal Enfield Revenue in Ameri
Slide 13: Varroc Group: Business Wise Performance 9M FY21
Varroc Group: Business Wise Performance 9M FY21 Click to edit Master title style ₹ million 9M FY21 9M FY20 Revenue SBU Revenue EBITDA % EBITDA Revenue EBITDA % EBITDA Change YoY India Business 24,217 2,592 10.7% 29,634 3,206 10.8% -18.3% VLS 52,000 893 1.7% 52,902 4,668 8.8% -1.7% Others (IMES) 1,34
Slide 14: Debt Situation Status Update and Outlook for FY21
Debt Situation Status Update and Outlook for FY21 Click to edit Master title style ₹ Billion 10.0 investments in Intangibles , 0.5 8.0 Capex paid, 1.8 34.1 6.0 32 Working capital 4.0 change, 4.6 Forecast 30.6 29 0.8x 9.4 Actual ~0.8x 2.0 Forecast 27.3 26 24.7 Op. loss bef. WC chg. + Actual tax paid
Slide 15: Exceptional Item: Tax Assets Impairment in Czech Republic
Exceptional Item: Tax Assets Impairment in Czech Republic Click to edit Master title style • VLS Czech is entitled to certain tax credits against eligible capital expenditure under the Capital Investment Incentive Scheme agreed with the Czech Government. • VLS Czech had accrued ₹ 1,078 mn towards th
Slide 16: Update on Current Business Environment
Update on Current Business Environment Click to edit Master title style • Current Situation • January – good volume growth across locations in India; semi-conductor shortages impacting OEM operations and resultant revenue for VLS • Soft schedules as a result of semi-conductor shortages helping clear
Slide 17: Varroc Group
Click to edit Master title style Confidential - Varroc Group 13