āagmanLoginNot investment advice. Data and computed figures, for information only.
Varroc Engineering Ltd
₹820.40
−₹1.65 (−0.20%)
NSE · 15 Oct 2026, close
Market Cap
₹12,755 Cr
CMP
₹820.40
52-wk High / Low
₹912 / 462
P/E
44.7
P/B
7.1
Book Value
₹117.0
Div Yield
0.18%
ROCE
19.0%
ROE
15.1%
Face Value
₹1
D/E
0.52
Price+35.3% over 1Y
āagman read
Computed by āagmanPiotroski F-Score
7
/ 9
7 of 9 F-score tests passed
Graham Number
₹197
√(22.5 × EPS × book value per share)
ROIC
12.2%
vs 11.5% sector median
Cash flow to profit
2.33
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−119
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
13.9%
ROE × earnings retention ratio
ROE stability
44.9
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.16DII −0.17
Latest quarter vs the previous one
Cash-accrual divergence
−6.4%
of assets
Low = accruals track cash flow
Strengths
+Borrowings are down 42.8% since FY2016 (1617 to 925)
+Price trades above its 200-day moving average (1.3x)
+Piotroski F-Score of 7/9 is in the strong band (≥7)
Watch-outs
Peer comparison
| Name | P/E | Mar Cap ₹ Cr | ROCE % | ROE % |
|---|
Quarterly results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,806 | 1,887 | 1,885 | 1,975 | 1,899 | 2,081 | 2,075 | 2,099 | 2,028 | 2,207 | 2,288 | 2,368 | 2,634 |
| Expenses | 1,623 | 1,693 | 1,709 | 1,754 | 1,725 | 1,873 | 1,889 | 1,878 | 1,833 | 2,004 | 2,078 | 2,146 | 2,412 |
| Operating Profit | 183 | 194 | 176 | 221 | 174 | 208 | 186 | 221 | 195 | 203 | 210 | 222 | 222 |
| OPM % | 10.1% | 10.3% | 9.3% | 11.2% | 9.2% | 10.0% | 9.0% | 10.5% | 9.6% | 9.2% | 9.2% | 9.4% | 8.4% |
| Other Income | −9 | 15 | 34 | 12 | 6 | 7 | −88 | −51 | 67 | 3 | −100 | 7 | 7 |
| Interest | 49 | 50 | 50 | 45 | 44 | 43 | 42 | 41 | 36 | 32 | 31 | 35 | 31 |
| Depreciation | 80 | 85 | 89 | 82 | 80 | 82 | 81 | 81 | 81 | 83 | 82 | 86 | 84 |
| Profit before tax | 44 | 74 | 71 | 105 | 56 | 91 | −25 | 47 | 144 | 92 | −3 | 109 | 114 |
| Net Profit | 34 | 56 | 384 | 58 | 34 | 58 | −45 | 23 | 107 | 63 | −11 | 70 | 78 |
| EPS (₹) | 2.11 | 3.55 | 25.05 | 3.72 | 2.12 | 3.64 | −3.10 | 1.35 | 6.88 | 3.99 | −0.67 | 4.54 | 5.06 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 6,770 | 7,909 | 9,299 | 10,279 | 12,036 | 11,122 | 4,374 | 5,844 | 6,891 | 7,552 | 8,154 | 8,890 | 9,497 |
| Expenses | 6,206 | 7,341 | 8,716 | 9,398 | 10,978 | 10,306 | 4,036 | 5,484 | 6,316 | 6,796 | 7,379 | 8,069 | 8,640 |
| Operating Profit | 564 | 568 | 582 | 881 | 1,059 | 816 | 338 | 360 | 575 | 756 | 775 | 821 | 857 |
| OPM % | 8.3% | 7.2% | 6.3% | 8.6% | 8.8% | 7.3% | 7.7% | 6.2% | 8.3% | 10.0% | 9.5% | 9.2% | 9.0% |
| Other Income | 229 | 73 | 172 | 108 | 122 | 94 | −556 | −996 | −821 | 69 | −112 | −14 | −82 |
| Interest | 475 | −43 | 90 | 86 | 97 | 139 | 89 | 118 | 190 | 194 | 170 | 134 | 129 |
| Depreciation | 254 | 292 | 337 | 386 | 566 | 732 | 274 | 305 | 337 | 337 | 323 | 332 | 335 |
| Profit before tax | 63 | 392 | 327 | 516 | 519 | 39 | −581 | −1,059 | −773 | 294 | 169 | 341 | 312 |
| Net Profit | 17 | 370 | 313 | 451 | 429 | 3 | −629 | −1,107 | −817 | 532 | 70 | 230 | 200 |
| EPS (₹) | 16.06 | 353.36 | 254.29 | 36.57 | 31.54 | 0.01 | −41.36 | −72.64 | −53.66 | 34.43 | 4.01 | 14.73 | 12.92 |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 11 | 12 | 13 | 13 | 15 | 15 | 15 | 15 | 15 | 15 | — |
| Reserves | 1,073 | 1,737 | 2,172 | 2,815 | 3,053 | 2,991 | 3,013 | 1,973 | 961 | 1,482 | 1,550 | 1,765 | — |
| Borrowings | 1,651 | 1,617 | 1,510 | 1,194 | 2,432 | 4,255 | 3,695 | 1,625 | 1,806 | 1,390 | 1,118 | 925 | — |
| Other Liabilities | 1,695 | 1,869 | 2,154 | 2,780 | 3,142 | 3,644 | 4,369 | 7,375 | 1,832 | 1,643 | 1,984 | 2,163 | — |
| Total Liabilities | 4,428 | 5,233 | 5,847 | 6,802 | 8,641 | 10,904 | 11,092 | 10,989 | 4,614 | 4,530 | 4,667 | 4,868 | — |
| Fixed Assets | 2,054 | 2,390 | 2,396 | 2,804 | 3,560 | 5,283 | 5,231 | 2,046 | 2,051 | 2,027 | 2,016 | 2,232 | — |
| CWIP | 178 | 315 | 293 | 344 | 999 | 790 | 856 | 140 | 135 | 80 | 103 | 151 | — |
| Investments | 22 | 12 | 293 | 360 | 362 | 330 | 376 | 388 | 421 | 530 | 69 | 88 | — |
| Other Assets | 2,174 | 2,515 | 2,867 | 3,294 | 3,720 | 4,500 | 4,629 | 8,416 | 2,007 | 1,893 | 2,479 | 2,396 | — |
| Total Assets | 4,428 | 5,233 | 5,847 | 6,802 | 8,641 | 10,904 | 11,092 | 10,989 | 4,614 | 4,530 | 4,667 | 4,868 | — |
Cash Flows
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 128 | 290 | 676 | 1,075 | 474 | 1,414 | 474 | 636 | 686 | 638 | 737 | 537 |
| Cash from Investing Activity | −286 | −575 | −577 | −545 | −1,769 | −1,259 | −613 | −762 | −448 | −166 | −245 | −118 |
| Cash from Financing Activity | 70 | 386 | 94 | −523 | 1,129 | 733 | −152 | −335 | −216 | −664 | −490 | −405 |
| Net Cash Flow | −87 | 101 | 193 | 6 | −166 | 888 | −292 | −461 | 22 | −192 | 1 | 14 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | — | 11.0 | 12.0 | 16.0 | 13.0 | 3.0 | 3.0 | 2.0 | 8.0 | 17.0 | 17.0 | 19.0 |
| ROE % | — | — | — | — | — | — | — | — | — | — | — | 15.1 |
| EPS (₹) | 16.06 | 353.36 | 254.29 | 36.57 | 31.54 | 0.01 | −41.36 | −72.64 | −53.66 | 34.43 | 4.01 | 14.73 |
| Book Value (₹) | — | — | — | — | — | — | — | — | — | — | — | 117.0 |
| Face Value (₹) | — | — | — | — | — | — | — | — | — | — | — | 1 |
| P/E | — | — | — | — | — | — | — | — | — | — | — | 44.7 |
| Div Yield % | — | — | — | — | — | — | — | — | — | — | — | 0.18 |
| NPM % | 0.2 | 4.6 | 3.3 | 4.3 | 3.5 | 0.0 | −16.5 | −22.8 | −13.5 | 7.0 | 0.9 | 2.6 |
| OPM % | 8.0 | 7.0 | 6.0 | 9.0 | 9.0 | 7.0 | 8.0 | 6.0 | 8.0 | 10.0 | 10.0 | 9.0 |
| D/E | 1.52 | 0.93 | 0.69 | 0.42 | 0.79 | 1.42 | 1.22 | 0.82 | 1.85 | 0.93 | 0.71 | 0.52 |
| P/B | — | — | — | — | — | — | — | — | — | — | — | 7.1 |
Growth
Compounded sales growth
10 years+1.0%
5 years+15.0%
3 years+9.0%
TTM+15.0%
Compounded profit growth
10 years−4.0%
5 years+19.0%
3 years+32.0%
TTM+51.0%
Stock price CAGR
5 years+23.0%
3 years+20.0%
Last year+35.0%
Return on equity
10 years−2.0%
5 years−13.0%
3 years20.0%
Last year15.0%
Documents
Announcements
Intimation Regarding Change In Name Of Promoter TrustsAnnouncement under Regulation 30 (LODR)-AllotmentClosure of Trading WindowAnnouncement under Regulation 30 (LODR)-Credit RatingAnnouncement under Regulation 30 (LODR)-Credit RatingCorporate actions
7 Aug 2026DIVIDENDDividend - Rs 1.50 Per Share—
8 Aug 2025DIVIDENDDividend - Re 1 Per Share—
25 Feb 2020DIVIDEND Interim Dividend - Rs 3 Per Share—
8 Aug 2019DIVIDEND Dividend Rs 4 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman