Varroc Engineering Limited · NSE:VARROC
Varroc Engineering — Q2 FY2027 Earnings Presentation
38 slides from Varroc Engineering's earnings presentation, Nov 4, 2026
Slide 1: Exchange filing cover letter
VARROC/SE/INT/2026-27/89 November 4, 2026 To, The Manager- Listing The Manager – Listing The Listing Department, The Corporate Relation National Stock Exchange of Department, India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Phiroze Jeejeebhoy Towers, Block, Bandra-Kurla Complex, Dalal Stree
Slide 2: Presentation to Investors & Analyst for Q2 FY27
Presentation to Investors & Analyst for Q2 FY27 4th Nov 2026 1
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 INR 89,080 MILLION
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: Update on Q2 FY2027 Performance
Update on Q2 FY2027 Performance 04th November 2026
Slide 8: Highlights for Q2 FY27
Highlights for Q2 FY27 1.Q2 FY27 Revenue at Rs. 29,479 million with a growth of 33.6% YoY. India Operations registered a 29.5% growth. Overseas Operation saw a growth of 104.1%. Revenue from EV models in Q2 FY27 is ~19% of total revenue in Q2 FY27 and grew by 130% YoY 2. Q2 FY27 PBT (before exceptio
Slide 9: Automotive Production in India
Automotive Production in India 8.10 Units in million • In Q2 FY27 and H1 FY27, the Indian economy remained 6.96 7.25 Q2 FY26 Q1 FY27 Q2 FY27 relatively resilient despite elevated crude prices and supply chain concerns caused by war. • The growth momentum in automotive demand continued with EV adopti
Slide 10: Consolidated Financials of Q2 FY27
Consolidated Financials of Q1 FY27 Particulars Q2 FY27 Q1 FY27 QoQ Q2 FY26 YoY Revenue (Mn) Revenue from operations 29,479 26,342 11.9% 22,073 33.6% 29,479 +33.6% +12% EBITDA 2,611 2,228 2,018 26,342 EBITDA % 8.9% 8.5% 40 bps 9.1% (20 bps) 22,073 PBT before JV and exceptional items 1,401 1,132 912 P
Slide 11: Consolidated Financials of H1 FY27
Consolidated Financials of H1 FY27 Revenue (Mn) Particulars H1 FY27 H1 FY26 YoY Revenue from Operations 55,822 42,349 31.8% +31.8% EBITDA 4,838 3,937 EBITDA % 8.7% 9.3% -(60 bps) 55,822 PBT before JV and exceptional items 2,532 1,734 42,349 PBT before JV and exceptional items % 4.5% 4.1% 40 bps Exce
Slide 12: 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 +29.5% for Overseas Operations Q2 FY26 Q2 FY26 Q2 FY26 Q1 FY27 Q2 FY27 +104% +12.6% Q1 FY27 Q1 FY27 Q2 FY27 +6.4% Q2 FY27 27,046 2,433 24,054 2,288 +16% +22.8
Slide 13: Reduction in Net Debt (Consol.)
Reduction in Net Debt (Consol.) 10000 9,160 Net Debt (₹ Mn) — Quarterly 8,273 7,860 8000 7,480 6000 5,547 5,268 4,952 4,478 4,405 3,800 4000 2000 0 Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 Sep'25 Dec'25 Mar'26 June'26 Sep'26 31st Mar 2024 30th Jun 2024 30th Sep 2024 31st Dec 2024 31st Mar 2025 30th Jun 20
Slide 14: Revenue Breakdown for H1 FY27
Revenue Breakdown for H1 FY27 VEHCILE SEGMENT PRODUCT GROUP MIX BODY PARTS 34.0% 2W & 3W 75% 4W 25% ICE POWERTRAIN 22.9% LIGHTING SOLUTIONS 16.4% GEOGRAPHY AFTER MARKET 9.2% INDIA 87% E-MOBILITY* 8.6% OVERSEAS 13% HMI CONNECTIVITY 3.7% CUSTOMER OVERSEAS FORGING 2.9% BAJAJ 46% ROMANIA ELECTRONICS 2.2
Slide 15: Net New Annual Peak Revenue Win in H1 FY27
Net New Annual Peak Revenue Win in H1 FY27 is Rs. 10,127 million Annual Peak Revenue SOP in FY27 SOP in FY28 SOP in FY29 Outstanding Order Book (End FY26) 35,090 New Order Intake (H1 FY27) 10,127 SoP YTD 8,226 Outstanding Order Book (End H1 FY27) 36,991 21,557 13,871 1,563 Annual Peak Revenue % win
Slide 16: How the Forsee Acquisition Strengthens Varroc
HOW THE FORSEE ACQUISITION STRENGTHENS VARROC STRATEGIC CAPABILITY ACQUISITION A faster, controlled entry into battery systems with technology access and performance-linked downside protection 1 WHY IT CREATES VALUE 2 HOW THE ACQUISITION TAKES PLACE Accelerates market entry 1 AT CLOSING Primary subs
Slide 17: Italy 2W Lighting Restructuring
ITALY 2W LIGHTING RESTRUCTURING PROFITABILITY + CAPITAL PRODUCTIVITY From sub-scale manufacturing to a lean, low-cost global operating model Preserve customer programs and technology while relocating manufacturing to Romania and Vietnam, removing the burden of an underutilised Italian STRATEGIC INTE
Slide 18: Varroc Business-II: In a Glance
Varroc Business-II:- In a Glance Timisoara Exterior Interior Targa Mures Manufacturing Electronics Lighting Lighting China Location Production Krakow Romania Production Production Poland Romania Y Y Y Vietnam Y Y - Thailand - Y - Bielefeld India Y Y - Germany Italy - Y - Cambiano Italy Rayong Sales
Slide 19: Technological new age products win in last 18 months
Technological new age products win in last 18 months NEW WIN Interior Ambient Lighting Front Drive & Rear Drive Inverter Electronics for Electric PV Inverter in an electric vehicle converts direct current (DC) from Interior ambient lighting products the battery to alternating current (AC) for the el
Slide 20: Recent High Voltage awarded project
Recent High Voltage awarded project PEU: the Power Electronics PCBA Inverter Atlas Alpha Shunt Current Sense: monitor Unit, is responsible for on- and control the flow of electrical current in a three- board charging, power phase motor drive or power conversion system. conversion, and control of the
Slide 21: Bidirectional L2V2 Charger
Bidirectional L2V2 Charger • Wallcharger/Wallbox for the end Product Specifications customer • To be used in front of your house or The Wallcharger PCBAs are produced to withstand General Automotive for public charging stations with Requirements, which include wall mount Enviromental Requirements, E
Slide 22: Our Businesses
Our Businesses 04th November 2026
Slide 23: 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 24: Powering E/E Architecture & Ambient Lighting: Electronics Romania
Powering E/E Architecture & Ambient Lighting : Electronics Romania Capacity (all infrastructure prepared and immediate implementation 1 FACILITIES - Romania possible): • Overall approach and objective: Integrate electronics • Infrastructure is prepared for 7 SMT lines and 10 Backend lines manufactur
Slide 25: 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 26: Powering India's Mobility: Lighting Solutions
Powering India’s Mobility: Lighting Solutions 5 FACILITIES - INDIA 4 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 27: 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 28: 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 29: 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 30: Leveraging Global Capabilities to Deliver Value to Customers
Leveraging Global Capabilities to Deliver Value to Customers R&D CENTERS LOW COST MANUFACTURING HUBS CUSTOMERS SERVED CHINA · Changzhou INDIA · 37 Plants INDIA OEMs Core Mfg · Domestic + Export R&D Intelligence Hub EUROPE INDIA · Pune THAILAND R&D Headquarters · 750+ Engrs ASEAN Export · EV Lighting
Slide 31: Compounding Machine of Value
Volume growth on top of inflation recovery to pave Revenue way for profitable growth Growth Debt reduction, less capital- Sustainable improvement in intensive investments and contribution margins through prudent capital deployment in Prudent CM economies of scale, revenue Redeployment Improvement or
Slide 32: 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 33: Sustainability
BRILLIANCE @SCALE Sustainability
Slide 34: 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 35: Commitment to Environment
Commitment to Environment RENEWABLE ENERGY GHG EMISSIONS • 36% Renewable energy contributions. • 47 Energy efficiency and Energy Commitment to increase to 50% in conservation projects/Kaizens coming years. implemented in FY26. • We generated 78 Million units of • Approx. 22 Million KWH - Electricity
Slide 36: 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. 1,74,
Slide 37: 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 • Varroc Vengsarkar Cricket Academy • Learn and Earn Program at
Slide 38: Thank You For your Valuable time!
Thank You For your Valuable time! Visit Us: varroc.com