Varroc Engineering Limited · NSE:VARROC
Varroc Engineering — Q3 FY2026 Earnings Presentation
33 slides from Varroc Engineering's earnings presentation, Feb 5, 2026
Slide 1: Exchange filing cover letter
VARROC/SE/INT/2025-26/147 February 5, 2026 To, The Manager- Listing The Manager – Listing The Listing Department, The Corporate Relation Department, National Stock Exchange of India BSE Limited Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G Block, Dalal Street, Fort, Bandra-Kurla
Slide 2: Presentation to Investors – Q3 FY26
Presentation to Investors – Q3 FY26 5th February 2026
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: Update on Q3 FY26 Performance
Update on Q3 FY26 Performance 5th February 2026
Slide 8: Highlights for Q3 FY26
Highlights for Q3 FY26 1.Q3 FY26 Revenue at Rs. 22,875 million with a growth of 10.2% YoY. India Operations registered a 12.3% growth. Revenue from EV models in Q3 FY26 at ~14.3% which grew by 53% YoY. Revenue from EV models in 9M FY26 at ~12.1% which grew by 38% YoY. 2. Q3 FY26 PBT (before exceptio
Slide 9: Automotive Production in India
Automotive Production in India 6.93 6.81 Q3 FY25 Q2 FY26 Q3 FY26 5.92 Units in million • Strong economy growth and GST reduction resulted in strong growth across sector on YoY basis in Q3 FY26 • 2W grew by 15.0% • 3W grew by 34.7% • PV grew by 19.1% • CV grew by 17.5% 1.40 1.17 1.33 • In Q3 FY26, on
Slide 10: Consolidated Financials of Q3 FY26
Consolidated Financials of Q3 FY26 Revenue Rs. In million. Particulars Q3 FY26 Q3 FY25 YoY Q2 FY26 QoQ Revenue from operations 22,875 20,753 10.2% 22,073 3.6% 22,875 EBITDA 2,122 1,900 2,018 20,753 22,073 EBITDA % 9.3% 9.2% 10 bps 9.1% 20 bps PBT before JV and exceptional items 1,007 661 912 PBT bef
Slide 11: Consolidated Financials of 9M FY26
Consolidated Financials of 9M FY26 Revenue Rs. In million. Particulars 9M FY26 9M FY25 YoY Revenue from Operations 65,224 60,549 7.7% 65,224 EBITDA 6,059 5,634 EBITDA % 9.3% 9.3% - Bps 60,549 PBT before JV and exceptional items 2,741 2,095 PBT before JV and exceptional items % 4.2% 3.5% 70 bps Excep
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 for Overseas Business 1) YoY revenue growth was 12.3% from India operations whereas rest of the operations de-grew by (16.5%) 2) Overseas business comprises
Slide 13: Reduction in Net Debt (consol.)
Reduction in Net Debt (consol.) ₹ in Million 9,828 9,160 8,273 7,860 7,480 4,478 4,405 Net Debt 3,800 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Rs. in Million 31st Mar 2024 30th Jun 2024 30th Sep 2024 31st Dec 2024 31st Mar 2025 30th Jun 2025 30th Sep 2025 31st Dec 2025 Net Deb
Slide 14: Revenue Breakdown for 9M FY26
Revenue Breakdown for 9M FY26 Business Unit Segment 2.4% 10.2% 16.6% Aftermarket 24% Body Part Solutions E-Mobility 2&3 Wheeler HMI Solutions 34.9% 4 Wheeler & Other ICE-Powertrain Solutions 25.6% Lighting Solutions Others (Overseas) 76% 3.9% 6.4% Geography Customer 11% India 46% Bajaj Outside India
Slide 15: Net New Annual Peak Revenue Win in 9M FY26
Net New Annual Peak Revenue Win in 9M FY26 (Annual Peak Revenue is Rs.20,636 million) Outstanding Order book and expected Start of Production Annual Peak Revenue % win from 2&3W and 4W Players Peak Revenue from Programs Rs. in million Expected to Reach SoP in the year.. 34.0% Annual Peak Revenue FY2
Slide 16: 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 - - Germany Italy - Y - Cambiano Italy Rayong Sales
Slide 17: 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 18: 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 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
5% Feb 2026 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