Slide 1: Cover letter to stock exchanges
Varroc Engineering Ltd. Regd. & Corp. Office L-4, MIDC, Industrial Area Tel + 91 240 6653700 email: varroc.info@varroc.com Waluj, Aurangabad 431 Fax + 91 240 2564540 www.varroc.com 136, Maharashtra, India CIN: L28920MH1988PLC047335 VARROC/SE/INT/2020-21/33 August 14, 2020 To, (1) The Manager – Listi
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 • Consolidated Revenue from operations for Q1 FY21 declined by 56% YoY due to the impact of the COVID-19 pandemic on bus
Slide 3: Depreciation, finance costs, management comment and about Varroc
Depreciation and amortisation • Depreciation and Amortisation expenses were higher due to capitalisation of new facilities. Finance Costs • Finance costs were higher due to higher average borrowings during the period, caused by the disruption to the working capital cycle. Mr. Tarang Jain, MD, Varroc
Slide 4: Varroc Financial Results Q1 FY21
Click to edit Master title style VARROC Financial Results Q1 FY21 ::14th August 2020:: 1
Slide 5: 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 6: Industry Trends in Q1 FY21 YoY
Industry Trends in Q1 FY21 YOY Click to edit Master title style +5% Global Passenger Vehicle Market Production 5.62m • Passenger Vehicle volumes in 5.76m 4.24m 5.50m Q1 FY21 declined drastically significantly across all regions (except China) as lockdowns in place globally for a major part -65% of t
Slide 7: Business Highlights: Q1 FY21
Business Highlights: Q1 FY21 • Click to edit Master title style All of the Global and Indian plants were closed in April and most of May. Volumes ramped up gradually post re-opening. June 20 revenues were 80% of June 19 revenues • Reported Revenue from Operations for the quarter declined by 55.6% Yo
Slide 8: Varroc Group: Financial Performance
Varroc Group: Financial Performance Click to edit Master title style Particulars Q1 FY21 Q1 FY20 Growth (Y-o-Y) Revenue from Operations - Reported 12,747 28,701 -56% Other income - Operating 110 280 Other income - Non operating 390 11 EBITDA - Reported * (1,794) 2,970 -160% EBITDA Margins (%) -14.1%
Slide 9: Varroc Group: Business Wise Performance Q1 FY21
Varroc Group: Business Wise Performance Q1 FY21 Click to edit Master title style Q1 FY21 Q1 FY20 Revenue Change SBU Revenue EBITDA % EBITDA Revenue EBITDA % EBITDA YoY India Business 2,977 (251) -8.4% 10,359 1,066 10.3% -71.3% VLS (Incl TRIOM) 9,463 (1,547) -16.3% 17,840 1,859 10.4% -47.0% Others (I
Slide 10: Revenue by Customers and Order Wins
Revenue by Customers and Order Wins Click to edit Master title style India Revenue Split by Customer(1) Q1 FY21 % VLS Revenue Split by Customer (2) Q1 FY 21 % Revenue in Europe declined by 46% YoY 21.5% Customer A Bajaj 25.4% 30.2% Customer B Revenue in Americas Honda Customer C declined by 55% YoY
Slide 11: Debt Situation Update and Outlook for FY21
Debt Situation Update and Outlook for FY21 Billion Rs Click to edit Master title style 10.0 8.0 investments in Intangibles , 0.5 Capex paid, 1.8 34.1 6.0 32 Working capital 4.0 change, 4.6 29 ~0.8x 0.8x 9.4 26 2.0 24.7 Op. loss bef. WC chg. + tax paid + int. paid, 2.2 0.0 1 -2.0 March 2020 June 2020
Slide 12: Updates for FY21 – Current Situation (Q2) and Outlook
Updates for FY21 – Current Situation (Q2) and Outlook (rest of the year) Click to edit Master title style Current Situation – Q2 FY21 • Substantial improvement in performance as compared to Q1 • July – Good ramp-up in volumes from June levels; Revenue at 92% of July 19 levels. Profitability and cash
Slide 13: Varroc Group
Click to edit Master title style Confidential - Varroc Group 10