Varroc Engineering Limited · NSE:VARROC
Varroc Engineering — Investor Presentation (November 2025)
46 slides from Varroc Engineering's investor presentation, Nov 27, 2025
Slide 1: Exchange filing cover letter for investor presentation
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/2025-26/118 November 27, 2025 To, The Manager- List
Slide 2: Investor Presentation: Brilliance @ Scale
Vvorroc INVESTOR PRESENTATION BRILLIANCE @SCALE
Slide 3: Vision, Mission and Values
VARROC Vision Mission Create safe, smart and sustainable future mobility solutions for everyone. Be the trendsetter in providing mobility solutions that offer the highest value for money to customers • Extend India Market leader position in 2W mobility, lighting, and driver assistance to the world •
Slide 4: About Us
About Us Varroc is a leading global auto technology company with a product portfolio covering a wide range of E-mobility solutions, 08 6100 Countries Employees Body systems solutions, Lighting solutions, HMI solutions, ICE powertrain and Advanced electronics solutions to leading 37 OEMs and Aftermar
Slide 5: Our Journey
Our Journey Varroc’s Transformation into a Global Auto Technology Group 2024 1990 2014 2018 2022 2023 Varroc expanded its auto portfolio by including ISG and was awarded business for 1st time in interior Initiated polymer business in PE Investments by Omega, Varroc Engineering Limited lighting. Bega
Slide 6: Our Global Footprint
Our Global Footprint Timisoara Târgu Mureș Kraków Romania Poland Bielefeld Germany Cambiano Sumirago Tokyo Italy Japan ASIA EUROPE India Romania Vietnam Poland Italy Hanoi Japan 08 6100 Vietnam Germany COUNTRIES EMPLOYEES Aurangabad SEGMENTS 120+ 37 Pune PATENTS MANUFACTURING Chennai FACILITIES Pant
Slide 7: 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 8: Representation of Varroc
Representation of Varroc Promoter Share Holding Public Share Holding 75.0% 25.0% Varroc Engineering Limited VEL - Standalone Operations Overseas Subsidiaries India Subsidiaries’ ● IMES ITALY ● E-Mobility Solutions ● Varroc Connect (95%) ● Body System Solutions ● ITALY 2W Lighting ● Durovalves India
Slide 9: 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 10: Global Business
Global Business With diversified product lines Business I Business II Electronics Product Groups ICE Powertrain E-Mobility Solutions Body System Solutions Electronics EMS Our portfolio includes Varroc is driving the future of We provide painted parts, molded Manufacturing Facility in Romania, China,
Slide 11: Technology for Two Wheelers
Technology for Two Wheelers Electronic Fuel Injection LED Headlamps, Mirrors for ICE vehicles and BS6 Safety Sustainability catalytic converters Traction motor and controller, Power assist ISG, and e- Connected Displays, TFT Drivetrain energy management and sensor Interfaces, Electrification systems
Slide 12: Technology for Four Wheelers
Technology for Four Wheelers ADAS, Driver Monitoring Systems, Surround View Systems, LED Headlamps & LCUs, Adaptive Front Safety Lighting Systems, Mirrors Safety Signature Lighting, Interior Systems, In-Cabin Sensing, Personalization Personalization Interior Mood Lighting, Center Consoles FOTA in Te
Slide 13: Product Portfolio Enhancement
Product Portfolio Enhancement Living our vision 1990 2010 2020 2030 ELECTRICAL - ELECTRONICS & • Proprietary products ELECTRICAL - ELECTRONICS ELECTRICAL - ELECTRONICS LIGHTING & LIGHTING & LIGHTING with continuous focus ADAS, DMS on innovative, cost Catalytic Converter Lighting Video Telematics com
Slide 14: Our 2W and 3W EV Capabilities
Our 2W and 3W EV Capabilities Charger • Locally designed, developed Telematics and manufactured • Fully IoT enabled machines BMS • Complete vertical integration DC-DC converter for Electronic Manufacturing • Motor Dyno Testing System for testing 2W and 3W EV Traction motor controller Traction motor/
Slide 15: Comprehensive Solution Provider
Comprehensive Solution Provider Diversified Portfolio Catering to 2W and 3W Segments Illuminated Handlebar Switch Mirror Assembly Adjustable Lever- holder Assembly Instrument Cluster/ USB Charger/ Seat Assembly Integrated Throttle Position Sensor/ Handlebar Assembly Switch Capacitor Discharge Windsh
Slide 16: Product Portfolio for PV
Product Portfolio for PV End to end capabilities across design, Engineering, testing/validation, tooling, manufacturing and delivery CMS & DMS Polymer Lighting Metallic Electronics Roof Rails Gears Instrument Panel Console Tail Lamps ADAS Final Drive Gear Pump Gear Park lock LED Signal Signature Sur
Slide 17: Unlocking Synergies across Competencies
Unlocking Synergies across Competencies Varroc's unique positioning as a systems supplier is strengthened through collaboration across its competencies. Traction Motor 4W ORVM Mirror with Gearbox Polymer + Electrical Electrical + Metallic Tailgate Cross Mirror and Polymer + Competence Seat with Sign
Slide 18: Excelling as a Systems Supplier
Excelling as a Systems Supplier Components • Customer CTQs • Component Design • Robust analysis to predict the design meets all CTQs • Tolerance analysis to ensure DFM Motor • Material and component data Base to speed up the design Sub-Systems • Customer requirements and CTQs • Sub-system level CTQs
Slide 19: Capabilities: Product Development
Capabilities: Product Development End-to-end capabilities across design, engineering, testing/validation, tooling, manufacturing and delivery Testing and Validation Project and Program Facilities CAE and Simulation Management Structural & Vibration Functional Performance DFSS/DMAIC Product Life Cycl
Slide 20: Capabilities: Manufacturing
Capabilities: Manufacturing ELECTRICAL - ELECTRONICS LIGHTING METALLIC POLYMER • SMT Lines for Electronics • High Vacuum Metallizing • Forging (Cold, Warm and Hot) • Plastic Injection Molding assemblies • Paint shop • Hard Coating and UV curing • Heat Treatment • Winding Machines for • Foam Molding
Slide 21: Our Customers
Our Customers TWO/THREE WHEELERS PASSENGER CARS COMMERCIAL VEHICLES EARTH MOVERS & OFF ROADS
Slide 22: Businesses - II
Businesses - II 1
Slide 23: 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 24: 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 25: 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 26: 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 27: Businesses win & New Product Offerings
Businesses win & New Product Offerings 1
Slide 28: 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 29: Technological new age products SOP in last 18 months
Technological new age products SOP in last 18 months SOP Integrated Starter Generator (ISG) Two Stage Soft Covering Process with Hot Press Lamination ISG System (Motor Generator + Controller) This covering process required high skilled manpower as combines engine cranking, electrical generation Soft
Slide 30: Technological new age products win in last 18 months
Technological new age products win in last 18 months NEW WIN Battery Management System (BMS) TFT Cluster BMS ensure battery cells are free from imbalance A TFT cluster is a digital instrument cluster in a vehicle also collects data and communicates with charger that uses a Thin-Film Transistor (TFT)
Slide 31: CAPEX spent for focus products growth
CAPEX spent for focus products growth Extension of existing plant to cater to EV OEM Acquired land in South & West India to further Expanding our SMT lines from 10 to 15 to cater to our electronics need strengthen relationship with OEM’s
Slide 32: Financials & Way Forward
Financials & Way Forward 1
Slide 33: Financials performance of Varroc Group
Financials performance of Varroc Group 81,541 FY 2022 FY 2023 FY 2024 FY 2025 ₹ in Millions 75,519 68,912 58,658 Steady improvement in the 28,186 29,449 24,607 absolute value 20,164 of all the 3,892 5,966 7,590 7,767 parameter of -296 775 2,705 3,129 profit & loss in Revenue Gross Profit EBITDA PBT
Slide 34: 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 35: 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 36: Financials performance of Varroc Group
Financials performance of Varroc Group Interest Servicing Ratio Net Debt/EBITDA 3.74 2.14 2.66 2.18 1.29 0.96 1.37 0.47 FY 2023 FY 2024 FY 2025 Q2 FY26 Strengthening the balance sheet FY 2023 FY 2024 FY 2025 Q2 FY26 over last few years and thus debt Net Debt Equity Ratio servicing ability improving
Slide 37: 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 38: 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 39: 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 40: 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 41: 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 42: 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 43: Our Key Strengths
Our Key Strengths Continuous Focus on R&D Strong Competitive Long Standing, Comprehensive Solution Low-Cost Capabilities Enhancing Position in a Growing Growing Customer Provider Manufacturing Portfolio Market Segment Relationships Footprint • End-to-end services across design, • Developing innovati
Slide 44: Board of Directors
Board of Directors Arjun Jain Liselott Kilaas Director and CEO – Business I Group CEO Evidia, Chairman of the Board, • Total Experience: ~13 years Implantica, Member of the Board and • Previously associated with Bain Audit Committee, Folketrygdfondet, etc & Co India Pvt. Ltd. Dhruv Jain Tarang Jain
Slide 45: Leadership Team
Leadership Team Fritz Abraham K. Mahendra Kumar Chief Technology Officer –Business I Global Chief Financial Officer • Total Experience: ~20 years • Total Experience: ~27 years • Previously worked with MAGNA Powertrain, • Previously worked with TI, Kone, Vestas, American Axle & Manufacturing, MAGNA a
Slide 46: Thank You
THANK YOU
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