The call ran from 4:01 PM to 5:10 PM IST (1 h 9 min).
Key takeaways
Q2 revenue ₹2,948 Cr (+33.6% YoY), but EBITDA margin slipped to 8.9% (9.1% last year) on war-driven under-recoveries. ₹63 Cr exceptionals cut reported PBT to ₹78 Cr.
| Revenue growth | Revenue +33.6% YoY, +11.9% QoQ; about 5-6% from commodity pass-through. |
|---|---|
| Margins | EBITDA 8.9% vs 9.1% YoY and 8.5% QoQ; under-recoveries weigh on margins. |
| Order book | Order book about ₹3,700 Cr end-H1, from ₹3,509 Cr; EV 48% of wins. |
| Demand visibility | Industry volumes +16-34% YoY; festive uplift; Q4 moderation expected but uncertain. |
| Management confidence | Over-optimistic; repeatedly defers margin recovery; hedges timelines on war-related costs. |
Growth
Revenue +33.6% YoY, +11.9% QoQ; India +29.5%, overseas +104.1%. About 5-6% of growth came from commodity pass-through.
Outlook
India EBITDA margin back to last-year levels by FY27-end if macro holds. Capex about ₹550 Cr; Romania EBITA break-even by year-end.
Risks
About ₹114 Cr of customer under-recoveries remain uncollected, straining cash. Overseas losses persist; OP Mobility and TYC arbitrations are unresolved.
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Varroc Engineering Q2 FY27 Results: Net Profit ₹33.5 Cr, Down 47.1% YoY
Varroc Engineering Ltd reported revenue from operations of ₹2,948 Cr (+33.6% YoY) and net profit of ₹33.5 Cr (-47.1% YoY) for Q2 FY27.
- Key figure
- Net profit ₹33.5 Cr · -47.1% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Aims to double overall revenue to 20,000 Crores by FY31 with 10% PBT margins.
Growth they described
Strong 30% organic growth; EV revenue surged 87% YoY reaching 16% of total revenue.
Call details
| Company | Varroc Engineering Limited |
|---|---|
| NSE symbol | VARROC |
| ISIN | INE665L01035 |
| Call | Q2 FY27 earnings call |
| Date | Wednesday, 4 November 2026 |
| Time | 4:00 PM IST |
| Length | 1 h 9 min |
| Audio | Our stream on YouTube ↗ |
Varroc Engineering Limited: key numbers
- Share price
- ₹788.80
- Market cap
- ₹12,052 Cr
- Revenue (annual)
- ₹8,890 Cr
- Net profit (annual)
- ₹225.0 Cr
- P/E (TTM)
- 71.3×Sector 31.7×
- Promoter holding
- 75.00%+0.00% QoQ
- FII holding
- 4.49%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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