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Varroc Engineering Limited (VARROC) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹100B

VE Varroc Engineering Limited VARROC · NSE
Price₹847.75
Fair Value₹253.07
Upside-70.2%
Quality55/100
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Expensive Growth
Thin margins · 2.5% net margin
Low debt · generates free cash flow
0.23% dividend yield
Trails peers (4/14)
Narrow moat 38/100
Evidence: High Range ₹138.56 – ₹387.97 Share as image

Fair value as of: Aug 13, 2026

From 25 valuation models · updated 4 days ago

Share price +30.8% over the past month.

A solid business, but screening 70% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (₹387.97). The favourable scenario is already priced in.
  • The model range is unusually wide (₹138.56 to ₹387.97). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

₹847.90 ₹240.96 Fair Value ₹253.07 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹240.96 – ₹847.90 · fair‑value band ₹138.56 – ₹387.97 · the ₹847.75 price screens above the ₹253.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Varroc Engineering Limited (VARROC) currently trades at ₹847.75, while our model-based Fair Value estimate is ₹253.07, implying the stock looks roughly 70.2% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Varroc Engineering Limited generated revenue of ₹88.9B at a net margin of 2.5%. Revenue grew 12.8% year over year. It earns a return on equity of 13.5%. Net debt stands at ₹7.4B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹138.56 (bear case) to ₹387.97 (bull case); at ₹847.75, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades near its 52-week high and 83% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -52% fair-value upside, at -70%, VARROC screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹23.33 ₹35.31 ₹52.39 80
Residual Income ₹109.49 ₹135.21 ₹332.59 76
ROIC Compounder ₹260.07 ₹327.77 ₹405.54 72
All 25 models by family
DCF Models
FCF DCF ₹22.88 ₹36.34 ₹56.76 38
Owner Earnings ₹115.80 ₹179.96 ₹277.25 31
5Y Revenue Exit ₹192.89 ₹354.22 ₹564.18 39
5Y EBITDA Exit ₹291.48 ₹537.75 ₹828.18 41
5Y P/E Exit ₹147.24 ₹269.22 ₹397.92 38
10Y Revenue Exit ₹121.71 ₹254.56 ₹439.10 36
10Y EBITDA Exit ₹193.55 ₹381.66 ₹639.71 37
10Y P/E Exit ₹101.77 ₹195.70 ₹312.76 35
Earnings-Based
Graham-Dodd ₹100.15 ₹304.15 ₹403.51 54
Lynch FV ₹65.06 ₹92.94 ₹120.82 50
PEG = 1.0 ₹65.06 ₹92.94 ₹120.82 46
EPV ₹243.18 ₹284.01 ₹319.74 59
Dividend Discount
Gordon GGM ₹9.18 ₹19.09 ₹30.29 70
DDM Multi-Stage ₹9.18 ₹15.02 ₹20.04 61
Multiples
P/E Multiple ₹243.02 ₹324.03 ₹405.03 63
P/S Multiple ₹187.79 ₹250.38 ₹312.98 58
P/B Multiple ₹187.79 ₹250.38 ₹312.98 55
EV/EBIT ₹444.09 ₹592.72 ₹741.36 53
EV/EBITDA ₹490.86 ₹655.08 ₹819.30 54
EV/Revenue ₹298.76 ₹427.58 ₹556.39 43
Asset-Based
NCAV (Graham) ₹58.26 ₹78.07 ₹116.52 50
Growth DCF
Growth DCF ₹23.33 ₹35.31 ₹52.39 80
Economic Profit
Residual Income ₹109.49 ₹135.21 ₹332.59 76
ROIC Compounder ₹260.07 ₹327.77 ₹405.54 72
Growth Earnings
Growth-Adj P/E ₹198.33 ₹283.32 ₹368.32 68

Widest divergence: Multiples (₹324.03) versus Dividend Discount (₹15.02). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹88.9B
Revenue growth (YoY) +12.8%
Net margin 2.5%
Return on equity 13.5%
Free cash flow ₹334M FY2026
P/E ratio 57.7
More key figures
Operating margin 6.1%
EPS (TTM) ₹14.70
Dividend yield 0.2%
EPS growth (YoY) +236%
Net debt ₹7.4B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 55 · Market factors (momentum, volatility) 87

Profitability 57
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 59
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 87
Price trend over the last 3–12 months (market factor)
52W Momentum 98
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Varroc Engineering Limited provides aftermarket automotive components and solutions worldwide. It offers e-mobility solutions, such as traction motors, controllers, and DC-DC converters; ice powertrain solutions, including valves, transmission components, crankpins and balancers, and wiper motors; light engines, light control units, and exterior and …

Full company description

Varroc Engineering Limited provides aftermarket automotive components and solutions worldwide. It offers e-mobility solutions, such as traction motors, controllers, and DC-DC converters; ice powertrain solutions, including valves, transmission components, crankpins and balancers, and wiper motors; light engines, light control units, and exterior and interior lighting products; and human-machine interface solutions, which include digital instrument clusters, sensors, and ergonomic handlebar switches. The company also provides polymer components, metallic forging and casting products, engine parts, and consumables and accessories; and intelligent cockpits and ADAS solutions, such as driver and cabin monitoring systems, surround view systems, and infotainment systems. In addition, it operates connected vehicle platform that integrates cloud providers, as well as supports device-agnostic connectivity. The company serves passenger cars, commercial vehicles, two and three wheelers, and off-highway vehicles original equipment manufacturers. Varroc Engineering Limited was incorporated in 1988 and is based in Aurangabad, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Varroc Engineering Limited reported revenue of ₹88.9B in FY2026 versus ₹58.4B in FY2022, a compound +11.1%/yr. Reported net income was ₹2.3B in FY2026.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹88.9B
Latest YoY
+9.0%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.9%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.2%
Avg. growth/yr (13Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.9%
Revenue +11.1%/yr
FY22 ₹58.4B
FY23 ₹68.9B
FY24 ₹75.5B
FY25 ₹81.5B
FY26 ₹88.9B
Net income
FY22 −₹11.1B
FY23 −₹8.2B
FY24 ₹5.3B
FY25 ₹612M
FY26 ₹2.3B
Character of growth · EPS growth decomposed (2015-2026) −2.2 % p.a.
Revenue per share −3.6 pp

of which total revenue +0.3 pp · buybacks/dilution −3.9 pp

EBIT margin −2.0 pp
Tax rate +1.8 pp
Residual (interest, one-offs) +1.7 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

VARROC screens 70% overvalued. Compare with Hyundai Mobis Co →

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Cite: Fair Value Calculator (2026). "Varroc Engineering Limited Fair Value". https://www.fairvalue-calculator.com/stock/VARROC

Peer Group

Auto Parts · 639 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 55 · Above median
Fair Value upside −70% · Bottom 25%
Return on equity (TTM) 13% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) 6% · Below median
Revenue growth 13% · Above median
Dividend yield (TTM) 0.2% · Bottom 25%
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 57.7× · Pricier than 75% of peers
P/B 5.64× · Pricier than 75% of peers
P/S (TTM) 1.13× · Pricier than median
P/FCF 3.2× · Pricier than median
EV/EBITDA 12.0× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 17
FUTURE 64 · sector 24
PAST 54 · sector 26
HEALTH 94 · sector 95
DIVIDEND 5 · sector 34

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Auto Parts stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Samvardhana Motherson International Limited MOTHERSON ₹169.50 ₹80.63 -52%
Bosch Limited BOSCHLTD ₹46,750 ₹13,061 -72%
Bharat Forge Limited BHARATFORG ₹2,082 ₹393.20 -81%
Uno Minda Limited UNOMINDA ₹1,232 ₹426.57 -65%
Schaeffler India Limited SCHAEFFLER ₹4,126 ₹1,412 -66%
Hankook Tire & Technology Co 161390 71,500 KRW 196,479 KRW +175%
Sona BLW Precision Forgings Limited SONACOMS ₹799.90 ₹207.06 -74%
Balkrishna Industries Limited BALKRISIND ₹2,497 ₹1,211 -51%

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Frequently asked questions

Is Varroc Engineering Limited (VARROC) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹253.07 versus a price of ₹847.75, about −70% (overvalued).
What is the fair value of VARROC?
Our model-based fair value for Varroc Engineering Limited is ₹253.07 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹847.75.
What is the quality score of VARROC?
Varroc Engineering Limited has a Quality Score of 55/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Varroc Engineering Limited (VARROC)?
Varroc Engineering Limited reported trailing-twelve-month revenue of about ₹88.9B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of VARROC?
The net profit margin of Varroc Engineering Limited is about 2.5%, meaning it keeps roughly 2.5% of revenue as net income. Based on the latest reported figures.
Does Varroc Engineering Limited pay a dividend?
Varroc Engineering Limited currently shows a dividend yield of about 0.23% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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