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Varroc Engineering is currently trading at Rs. 456.55, up by 13.25 points or 2.99% from its previous closing of Rs. 443.30 on the BSE. The scrip opened at Rs. 455.00 and has touched a high and low of Rs. 466.90 and Rs. 451.25 respectively. So far 12491 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 466.90 on 08-Sep-2023 and a 52 week low of Rs. 239.80 on 29-Mar-2023. Last one week high and low of the scrip stoo...
Varroc Engineering shines on raising Rs 250 crore through NCDs
Business tailwinds getting ready to drive the much awaited debt reduction Varroc Engineering’s (VAR) EBITDA margin for Q4FY23 came in at 9.2%, 139bps higher QoQ, and higher than our estimate of 7%, mainly due to business mix, recoveries and operating leverage other than specific benefits of retrospective cost pass through in Q4. Revenue reduced 2% QoQ to Rs16.9bn due to lower 2W volumes (which contribute ~70% of revenue), as domestic 2W volume got impacted by lower consumpt...
Buy Varroc Engineering Ltd For Target Rs.366 - ICICI Securities
Varroc Engineering has completed the divestment of the 4-Wheeler Lighting Business of the Company in the Americas and Europe and identified R&D business in India to Compagnie Plastic Omnium SE of France and & its Affiliate/Associate Companies and Subsidiaries with effect from 06 October 2022. By way of this transaction, the company has also sold its 100% stake in its wholly owned subsidiary viz. VL Lighting Solutions. Post this transaction VL Lighting Solutions ceases to be a wholly o...
Varroc Engineering completes divestment of 4-wheeler lighting biz
Varroc Engineering is currently trading at Rs. 474.70, up by 62.50 points or 15.16% from its previous closing of Rs. 412.20 on the BSE. The scrip opened at Rs. 425.00 and has touched a high and low of Rs. 494.60 and Rs. 425.00 respectively. So far 480409 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 494.60 on 29-April-2022 and a 52 week low of Rs. 260.20 on 14-Sep-2021. Last one week high and low of the scrip ...
Varroc Engineering jumps on signing securities purchase agreement with Plastic Omnium of France
VLS profitability challenges persist Varroc Engineering’s (VEL) Q2FY22 operating performance was in line with consensus estimates as EBITDA margin came in at -0.2% (down 925bps YoY) and VEL reported a PAT loss of ~Rs3bn. Global lighting business (VLS) sales fell 13% QoQ to EUR198.2mn as margins further shrank 210bps to -7.2% (impacted by weaker mix and negative operating leverage). Profitability at the greenfield plant continues to be a challenge as volume ramp-up gets delayed impact...
Hold Varroc Engineering Ltd For Target Rs.289 - ICICI Securities
Greenfield plants challenges persist Varroc Engineering’s (VEL) Q3FY21 operating performance was a miss on consensus estimates as EBITDA margin came in at 7.1% (down 252bps YoY). Global lighting business (VLS) sales grew 9% YoY to EUR258mn while margins shrunk 236bps YoY to 4.1% (impacted by higher freight costs, greenfield plant cost escalations). Greenfield plants also continue to be impacted by customer production issues (semi-conductor) and the same could persist into H1FY22. In...
Add Varroc Engineering Ltd For Target Rs.518 - ICICI Securities
Healthy FCF drives debt reduction Varroc Engineering’s (VEL) Q2FY21 operating performance was ahead of consensus estimates as EBITDA margin came in at 9.1% (up 53bps YoY). VLS’ sales grew ~21% YoY to EUR228mn while margins were flat YoY to 7.6% (tad disappointing). FCF generation (~Rs4bn) in 2Q has been strong and is supporting VEL debt reduction target of Rs26bn by 4Q. FY22 is likely to be the point of inflection for earnings for global lighting business (VLS) as utilisations...
Buy Varroc Engineering Ltd For Target Rs.491 - ICICI Securities
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