Varroc Engineering Q2 FY27: revenue up 33.6% to ₹2,948 Cr, net profit down 47.1% to ₹34 Cr
Results · Finvezto · 4 Nov 2026 · Varroc Engineering (VARROC)
Results Q2 FY27, ₹ Cr
| Q2 FY27 | ₹ Cr | QoQ | YoY |
|---|---|---|---|
| Revenue | 2,948 | +11.9% | +33.6% |
| Operating profit | 257 | +15.9% | +26.7% |
| Net profit | 34 | -56.9% | -47.1% |
| Operating margin | 8.7% | +0.3 pp | -0.5 pp |
| Net margin | 1.1% | -1.8 pp | -1.7 pp |
Key points
- For Q2 FY27, Varroc Engineering Limited reported consolidated revenue from operations of Rs 2,947.90 crore, up 33.6% year-on-year, with EBITDA of Rs 261.10 crore and PBT before exceptional and JV profit rising 54% to Rs 140.10 crore. NSE filing
- EV-related revenue reached approximately 19% of consolidated revenue, while the company initiated restructuring to relocate its Italy two-wheeler lighting manufacturing to Romania and Vietnam. NSE filing
- Consolidated revenue for Q2 FY27 reached INR 29,479 million, representing a year-on-year growth of 33.6%, supported by 29.5% growth in India operations and 104.1% growth in overseas operations. Earnings call
- Management noted margins and cash flows were impacted by geopolitical commodity inflation and customer under-recoveries, with over INR 1,140 million of agreed recoveries pending cash realization. Earnings call
Other figures
- Consolidated net debt: ₹555 Cr
What to watch
- Management on capex: Yes, I think we maintain the number that we mentioned last quarter also.
- Management on overseas profitability: The Romania business, the internal target is to take it to EBITDA break-even by year-end, and that target remains.
- Operating margin over the last 4 quarters (Dec 25, Mar 26, Jun 26, Sep 26): 9.2%, 9.4%, 8.4%, 8.7%.
- Net profit over the last 4 quarters (Dec 25, Mar 26, Jun 26, Sep 26), ₹ Cr: -11, 71, 78, 34.
Links
NSE filing (PDF) · Company page · Results tracker
Anand Ganapathy K | SEBI Registered Research Analyst | INH000016630.