Varroc Engineering share price today

Varroc Engineering Ltd's share price was ₹779.15 at the close on 4 November 2026. It has been rising for 19 weeks. That is 12.5% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹481 and ₹872, and at that close it sat 76% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Varroc Engineering Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 1 week running.

Over the last 8.3 years the share price moved −25% while the NIFTY 500 moved +134%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 30 October 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 11 quarters in a row (every quarter we can compare), profit fell in the June 2026 quarter and lowest operating margin in 14 quarters.

1. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare)

   In the June 2026 quarter revenue was ₹2,634 crore, +29.9% on a year earlier.

   Why: Revenue rose because EV linked sales rose and new business wins were mostly e mobility.

   Next results: check whether launch cadence supports the stated doubling expectation for overseas electronics and lighting revenue.

   From the earnings call on 6 Aug 2026.

2. Profit fell in the June 2026 quarter

   Profit was ₹78 crore, -27.1% on a year earlier (₹107 crore), after 4 quarters of growth.

   Why: Profit fell because low margin tooling sales, war related inflation and business mix squeezed the operating margin.

   Next results: check whether customer recoveries for war related costs come through, since full recovery may take one to two quarters.

   From the earnings call on 6 Aug 2026.

3. Lowest operating margin in 14 quarters

   Operating margin was 8% in the June 2026 quarter, against 10% a year earlier.

   Why: The operating margin fell because low margin tooling sales, war related inflation and business mix hurt profitability.

   Next results: check whether war related cost recoveries lift the margin, since full recovery may take one to two quarters.

   From the earnings call on 6 Aug 2026.

For April to June 2026 (the quarter ended 30 June 2026), Varroc Engineering reported revenue of ₹2,634 crore, up 29.9% from ₹2,028 crore a year earlier, and a profit of ₹78.0 crore, down 27.1% from ₹107 crore.

Varroc Engineering results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Varroc Engineering's management discussed these results on a call held on 6 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Varroc Engineering closed at ₹779.15 on 4 November 2026, up 21.6% from ₹640.85 a year earlier (7 November 2025) and up 164.1% over five years. Its highest weekly close since July 2018 was ₹1,151.15 on 31 August 2018.

Varroc Engineering share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

442 weekly closes from 6 July 2018 to 4 November 2026.

4 Nov 2026: Varroc Engineering closed at ₹779.15, up 1.7% on the week and down 6.2% on the month. 7 Aug 2026: ex-date for a dividend of ₹1.50 a share.

Earlier

• 6 Aug 2026: Varroc Engineering held its results call for April to June 2026. Management guided: FY27 revenue growth of 20-25% described as ambition, not formal guidance.
• Results for April to June 2026: Revenue up 29.9% and profit down 27.1% on a year earlier.

Varroc Engineering paid ₹1.50 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.19% at the ₹779.15 close on 4 November 2026. The last was a dividend of ₹1.50 a share, ex-date 7 August 2026.

Varroc Engineering dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Varroc Engineering Ltd paid out 10% of its profit as dividends in FY26, and it paid a dividend in 7 of its last 11 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 6 August 2026, Varroc Engineering's management guided: FY27 revenue growth of 20-25% described as ambition, not formal guidance.

“We do not give that kind of guidance, but we have a medium-term target of reaching 10% PBT soon. That target remains valid. You can extrapolate based on the current performance.”Mahendra Kumar, on the call for April to June 2026

What management guided

• FY27 capital spending ₹500-550 crore, primarily e-mobility and capacity expansion across India and overseas.
• Overseas electronics and lighting revenue expected to double on a year earlier; Romania operating profit breakeven planned by January to March 2027.
• One announced traction-motor win expected to become imminent in July to September 2026; two further customer SOPs expected this financial year.
• Medium-term profit before tax goal of 10% in roughly 3-4 years.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 6 August 2026.

When Varroc Engineering reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Overseas electronics and lighting revenue trajectory - check whether launch cadence supports the stated doubling expectation.

Varroc Engineering is on one of our India lists: Momentum stocks.

Varroc Engineering Ltd earned ₹78.0 Cr of net profit in the Jun 2026 quarter, −27.1% on the same quarter a year earlier. Full-year FY26 profit was ₹230 Cr. Over 10 years profit has grown −4.6% a year on average. That is 3.0% of the quarter's revenue. The same quarter a year earlier earned ₹107 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

2 of the last 12 reported quarters were loss-making.

For the full year, FY26 profit was ₹230 Cr (+228.6% on the year before).

Why profit moved: revenue changed +29.9% on a year earlier and the margin moved −2.0 percentage points. Sales did the work while the margin got thinner.

On average over the last four quarters, profit changed +61.9% and revenue +14.8%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Varroc Engineering Ltd reported ₹2,634 Cr of revenue in the Jun 2026 quarter, +29.9% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 1.2% a year on average. The last full year, FY26, came in at ₹8,890 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹9,497 Cr.

FY26 revenue was ₹8,890 Cr, +9.0% on the year before.

Recent pace: the last four quarters grew +14.8% on average, against 1.2% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +14.7%, against +11.4% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +39.9%, against −38.7% a year (accelerating).

Varroc Engineering Ltd's operating margin was 8.0% in the Jun 2026 quarter, 2.0 percentage points lower than the same quarter a year ago. Across 12 years it has been between 6.0% and 10.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −1.2 percentage points on the year while gross margin changed −2.5 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 230% of Varroc Engineering Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹537 Cr of operating cash against ₹230 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹596 Cr of spending on assets, free cash was −₹59.0 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 230% of profit came in as cash: the cash cycle got 87 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: no single use of cash stands out. The next section checks both the cash tied up in daily operations and the spending on assets.

Varroc Engineering Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −8 days in FY26, up from −95 days in FY21. It spent ₹1,189 Cr on assets over the last 3 years. Customers take 30 days to pay, and stock sits for 60 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹8,890 Cr, each day of that cycle ties up about ₹24.4 Cr, so roughly −₹195 Cr is tied up in the business at any time.

FY26: customers took 30 days to pay and stock sat for 60 days, about 2.0 months of sales sitting as stock, for a full cycle of −8 days, longer than FY21's −95.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 60 days. Customers pay about 30 days after that. Suppliers are paid at 97 days. Together that makes the −8-day cycle.

Spending on assets: ₹1,189 Cr over the last 3 years, against ₹992 Cr of depreciation (the yearly wear and tear on existing assets). So it is building a little beyond replacing what wears out. Work still in progress is ₹151 Cr (FY26): assets paid for that are not earning yet.

In short: neither the daily cycle nor new spending is soaking up the cash, so the picture is fairly clean.

Varroc Engineering Ltd's P/E is 41.7×, in the middle of its own history: higher than 68% of past readings. Its usual P/E (the middle reading) is 29.4×, over 8.3 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹12.92.

Why the multiple is where it is: over the past year earnings per share moved +267.3% while the price moved +21.6%. Earnings did better than the price, which pulled the multiple down within its own range.

Where the price move came from: over 3 years the price moved +18.6% a year; about +45.5% a year came from earnings growth and about −26.9 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple.

Varroc Engineering Ltd's business is turning around. Profit growth has swung from −79.6% at its low to +39.9%, rising from a low 5 quarters ago, with ROCE steady at 20.2%. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: a turn in growth is often where a bigger change starts. The lines say a turn is forming, so the question is whether the next quarters confirm it.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Varroc Engineering Ltd earned a ROCE of 19% in FY26. That is up from a low of 2% in FY22. Its return on capital used (ROIC) is 1.1 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 2.6% net margin and 1.83× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 2.6% net margin × 1.83× asset turnover × 2.73× leverage (assets divided by equity) ≈ 13.0% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 13.1% − 12.0% = +1.1 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error.

Varroc Engineering Ltd has total debt of ₹925 Cr against shareholder equity of ₹1,818 Cr as of Jun 2026, so its debt is 0.51× its equity. Year by year, that ratio went from 0.81 in FY22 to 0.51 in FY26. Keep that borrowing in mind when reading the returns on this page.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Domestic institutions cut their stake in Varroc Engineering Ltd by 1.8 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 10.8% of the company. Foreign institutions moved +0.7 points over the same period, to 4.5%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Domestic institutions: −1.8 points over 8 quarters, to 10.8%; Foreign institutions: +0.7 points over 8 quarters, to 4.5%; Promoters: +0.0 points over 8 quarters, to 75.0%.

Why the owners changed: domestic institutions drove it (−1.8 points), with the other side taken by foreign institutions (+0.7 points). They reduced their stake.