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Varroc Polymers Limited
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Registered Details

VARROC POLYMERS LIMITED

www.varrocgroup.com

Active

Updated: 05 Nov 2024

The company manufactures and distributes automobile components and accessories.

Varroc Polymers Limited, is an unlisted public company incorporated on 20 June, 1995. It is classified as a public limited company and is located in , Maharashtra. It's authorized share capital is INR 5.49 cr and the total paid-up capital is INR 52.91 lac.

Industry

Manufacturing (Metals & Chemicals and their products)

Products

and off highway vehicle manufacturers, passenger cars, as well as exterior lighting systems to two and three wheelers, lastic and polymer, and precision metallic components, electrical and electronics

Key Metrics

** All rupee values in INR crores. Based on March 2024 numbers.

Sales

11.37%

₹ 2,171.3

EBITDA

26.97%

₹ 232.8

Net Profit

₹ 167.9

Networth

34.74%

₹ 649.4

Borrowings

-33.72%

₹ 255.8

Assets

5.88%

₹ 1,438.4

Gross Margin

2.13

36.1 %

Operating Margin

1.32

10.7 %

Net Profit Margin

10.94

7.5 %

Return on Equity

40.07

25.9 %

ROCE

8.62

23.5 %

Debt to Equity

-0.41

0.4

Sales

Mar 2024

Net worth

Mar 2024

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Locations

India (23)

State	Type	Address

Locations on Map

Tofler Score

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Fair

Good

Very Good

Excellent

Risk

Severe Risk

No risks identified

Moderate Risk

LOW CASH BALANCE
CASH DETERIORATING

Low Risk

No risks identified

About Tofler Score

Tofler Score measures the quality of performance and integrity of a company. It is dependent on three key factors - Sustainability, Governance, and Growth.

Financial Highlights

** All numbers in INR crores

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Sales	1,429.7	1,263.8	1,751.0	1,949.7	2,171.3
Operating profit	112.4	94.1	127.4	183.4	232.8
Net profit	51.3	17.4	32.0	-68.5	167.9
Gross margin	33.7	33.8	32.0	34.0	36.1
Operating margin	7.9	7.4	7.3	9.4	10.7
Net margin	3.5	1.4	1.8	-3.4	7.5
Networth	513.9	532.4	550.7	481.9	649.4
Borrowings	115.0	53.3	63.3	385.9	255.8
Assets	1,019.1	1,050.8	1,148.9	1,358.6	1,438.4
Debt to equity	0.2	0.1	0.1	0.8	0.4
Current ratio	0.8	1.0	1.1	1.4	1.2
ROE	10.0	3.3	5.8	-14.2	25.9
Days payable	85.0	128.0	111.0	101.0	101.0
WC days	-19.0	2.0	10.0	39.0	22.0

Margins

Gross margin

Operating margin

Net margin

Balance Sheet

₹

** All numbers in INR crores

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	0.5	0.5	0.5	0.5	0.5
Reserves	513.4	531.8	550.1	481.4	648.8
Borrowings +	115.0	53.3	63.3	385.9	255.8
Long term borrowings	5.0	53.3	10.0	244.6	98.3
Short term borrowings	110.0	-	53.3	141.4	157.5
Trade payables +	220.4	292.6	363.2	355.1	382.2
Days payable	85.0	128.0	111.0	101.0	101.0
Other liabilities +	390.1	465.1	534.9	490.7	533.3
Other non-current liabilities	57.3	61.6	72.2	50.1	41.6
Other current liabilities	112.4	110.9	99.6	85.5	109.5
Total liabilities	1,019.1	1,050.8	1,148.9	1,358.6	1,438.4
Fixed Assets +	534.1	535.0	537.9	533.8	557.5
Tangible assets	511.8	480.5	501.0	459.9	510.5
CWIP	16.3	48.8	11.6	53.5	26.7
Intangible assets	6.0	5.6	25.4	20.3	20.3
LT loans and advances	-	-	-	-	-
Other non-current assets	117.8	106.5	47.2	33.2	101.9
Current assets +	367.2	409.3	563.8	791.6	779.0
Inventories	82.3	115.7	103.4	78.7	117.9
Trade receivables	143.5	216.9	107.5	92.3	136.4
Cash and cash equivalents	49.8	38.4	39.8	88.4	8.8
ST loans and advances	-	-	-	-	462.3
Other current assets	91.6	38.3	313.0	532.2	53.6
Total assets	1,019.1	1,050.8	1,148.9	1,358.6	1,438.4

Percentage of assets	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	0.05	0.05	0.05	0.04	0.04
Reserves	50.38	50.61	47.88	35.43	45.11
Borrowings +	11.29	5.08	5.51	28.41	17.78
Long term borrowings	0.49	5.07	0.87	18.0	6.84
Short term borrowings	10.8	0.0	4.64	10.4	10.95
Trade payables	21.63	27.85	31.61	26.14	26.57
Other liabilities +	38.28	44.26	46.56	36.12	37.07
Other non-current liabilities	5.62	5.86	6.28	3.69	2.89
Other current liabilities	11.03	10.55	8.66	6.29	7.61
Total liabilities
Fixed Assets +	52.41	50.91	46.82	39.29	38.76
Tangible assets	50.22	45.73	43.6	33.85	35.49
CWIP	1.6	4.65	1.01	3.94	1.86
Intangible assets	0.58	0.54	2.21	1.5	1.41
LT loans and advances	0.0	0.0	0.0	0.0	0.0
Other non-current assets	11.56	10.13	4.11	2.44	7.08
Current assets +	36.04	38.95	49.07	58.27	54.16
Inventories	8.07	11.01	9.0	5.79	8.2
Trade receivables	14.08	20.64	9.36	6.79	9.48
Cash and cash equivalents	4.89	3.65	3.47	6.51	0.61
ST loans and advances	0.0	0.0	0.0	0.0	32.14
Other current assets	8.99	3.65	27.24	39.18	3.73
Total assets

Total assets

Profit & Loss

₹

** All numbers in INR crores

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Sales +	1,429.7	1,263.8	1,751.0	1,949.7	2,171.3
Sales growth %	-10.65	-11.6	38.56	11.34	11.37
Expenses +	1,382.5	1,242.2	1,710.7	1,884.2	2,061.8
Cost of goods	947.7	836.4	1,191.2	1,286.7	1,386.7
Employee cost	115.8	112.0	135.0	151.2	185.0
Other costs	253.7	221.3	297.4	328.4	366.8
Operating profit +	112.4	94.1	127.4	183.4	232.8
Operating margin %	7.9	7.4	7.3	9.4	10.7
Other income	20.3	5.8	13.5	61.8	56.3
Interest	9.3	10.6	14.8	45.2	51.9
Depreciation	56.0	61.9	72.3	72.8	71.3
Exceptional items	-	-	-	-174.3	-
Profit before tax	67.5	27.3	53.8	-47.2	165.9
Tax	16.2	9.9	21.9	21.3	-2.0
Profit - disc. ops	-	-	-	-	-
Net profit	51.3	17.4	32.0	-68.5	167.9
Net margin %	3.5	1.4	1.8	-3.4	7.5

Precentage of total income	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Sales	98.6	99.55	99.23	96.93	97.47
Expenses +	95.35	97.85	96.95	93.68	92.55
Cost of goods	65.36	65.89	67.51	63.97	62.25
Employee cost	7.98	8.82	7.65	7.52	8.3
Other costs	17.5	17.43	16.86	16.33	16.47
Operating profit	7.75	7.41	7.22	9.12	10.45
Other income	1.4	0.45	0.77	3.07	2.53
Interest	0.64	0.84	0.84	2.25	2.33
Depreciation	3.86	4.87	4.1	3.62	3.2
Exceptional items	0.0	0.0	0.0	-8.67	0.0
Profit before tax	4.65	2.15	3.05	-2.34	7.45
Tax	1.11	0.78	1.24	1.06	-0.09
Profit - disc. ops	0.0	0.0	0.0	0.0	0.0
Net profit	3.54	1.37	1.81	-3.4	7.54

Revenue from operations

Ratios

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Solvency +
Total Debt/Equity	0.2	0.1	0.1	0.8	0.4
Net Debt/Equity	0.1	0.0	0.0	0.6	0.4
Total Debt/Assets	0.1	0.1	0.1	0.3	0.2
Total Assets/Equity	2.0	2.0	2.1	2.8	2.2
Liquidity +
Current Ratio	0.8	1.0	1.1	1.4	1.2
Quick Ratio	0.6	0.7	0.9	1.2	1.0
Interest Coverage	12.1	8.9	8.6	4.1	4.5
Performance
Gross Margin	33.7	33.8	32.0	34.0	36.1
Operating Margin	7.9	7.4	7.3	9.4	10.7
Net Margin	3.5	1.4	1.8	-3.4	7.5
Return +
Return on Equity	10.0	3.3	5.8	-14.2	25.9
Pre-tax ROCE	12.3	6.0	9.4	14.9	23.5
Return on Assets	5.0	1.7	2.8	-5.0	11.7
Pre-tax ROIC	9.7	5.9	9.6	14.2	18.0
Efficiency +
Days Payable	85.0	128.0	111.0	101.0	101.0
Days Inventory	32.0	50.0	32.0	22.0	31.0
Days Receivable	37.0	63.0	22.0	17.0	23.0
Fixed Asset Turnover	2.7	2.4	3.3	3.6	3.9
Total Asset Turnover	1.4	1.2	1.5	1.4	1.5
Working Capital
Cash Conversion Cycle	-16.0	-15.0	-57.0	-62.0	-47.0
Working Capital Days	-19.0	2.0	10.0	39.0	22.0

Ratios

Current ratio

Debt/equity ratio

Charges on assets

Bank wise

Charges

ICICI Bank Limited

No. of Loans: 4

Total Amount : 245.0 cr

Standard Chartered Bank

No. of Loans: 2

Total Amount : 90.5 cr

IndusInd Bank Limited

No. of Loans: 1

Total Amount : 75.0 cr

SARASWAT CO-OPERATIVE BANK LTD

No. of Loans: 1

Total Amount : 75.0 cr

INDUSIND BANK LIMITED

No. of Loans: 1

Total Amount : 50.0 cr

The Hongkong and Shanghai Banking Corporation Limited

No. of Loans: 1

Total Amount : 35.0 cr

IDBI Bank Limited

No. of Loans: 1

Total Amount : 23.0 cr

HDFC Bank Limited

No. of Loans: 1

Total Amount : 20.0 cr

Charge Holder	Amount	Date of creation/modification
INDUSIND BANK LIMITED	50.0 cr	09 Aug, 2024
ICICI Bank Limited	50.0 cr	31 May, 2024
ICICI Bank Limited	50.0 cr	31 May, 2024
Standard Chartered Bank	80.5 cr	04 Apr, 2024
ICICI Bank Limited	125.0 cr	22 Dec, 2023
IndusInd Bank Limited	75.0 cr	05 Oct, 2023
IDBI Bank Limited	23.0 cr	15 Jun, 2023
ICICI Bank Limited	20.0 cr	23 Jan, 2023
SARASWAT CO-OPERATIVE BANK LTD	75.0 cr	30 Jun, 2022
The Hongkong and Shanghai Banking Corporation Limited	35.0 cr	04 Aug, 2021
Standard Chartered Bank	10.0 cr	23 Apr, 2021
HDFC Bank Limited	20.0 cr	04 Nov, 2020

Charges

ICICI Bank Limited

Standard Chartered Bank

IndusInd Bank Limited

SARASWAT CO-OPERATIVE BANK LTD

Others

People

Designation	Name	DIN/PAN	Tenure
Managing Director	Tarang Naresh Jain Shareholder	00027505	30 years
Director	Gautam Premnath Khandelwal	00270717	14 years
Director	Marc Szulewicz	01911768	6 years
Director	Vinish Kathuria	01951771	6 years
CS	Anil Bhanwarlal Ghatiya	<HIDDEN>	20 years
Whole-time Director	Vidyadhar Madhukar Limaye	06720053	2 years
Whole-time Director	Arjun Tarang Jain	07228175	2 years

Company Network

Companies connected through Directors

Name	Status	Paid up Capital	Common Directors	Address
RUDRITARA PROPERTIES PRIVATE LIMITED	Active	1.0 L	1	Maharashtra
VARROC LIGHTING PRIVATE LIMITED	Amalgamated	2.0 Cr	1	Maharashtra
VARROC TRADING PRIVATE LIMITED	Strike Off	1.7 L	1	Maharashtra
VARROC LIGHTING SYSTEMS (INDIA) PRIVATE LIMITED	Amalgamated	44.0 L	2	Maharashtra
VARROC EXHAUST SYSTEMS PRIVATE LIMITED	Amalgamated	2.0 Cr	1	Maharashtra
MARATHWADA AUTO CLUSTER	Active	61.0 L	1	Maharashtra
VARROC DELL'ORTO PRIVATE LIMITED	Active	3.0 Cr	2	Maharashtra
TCPL PACKAGING LIMITED	Active	9.1 Cr	1	Maharashtra
DUROVALVES INDIA PRIVATE LIMITED	Active	4.3 Cr	3	Maharashtra
VARROC ENGINEERING LIMITED	Active	15.3 Cr	5	Maharashtra
INFORMED TECHNOLOGIES INDIA LIMITED	Active	4.2 Cr	1	Maharashtra
THE MOTWANE MANUFACTURING COMPANY PRIVATE LIMITED	Active	7.1 Cr	1	Maharashtra
MAGNACHEM PHARMACEUTICALS PRIVATE LIMITE D	Strike Off	81.4 L	1	Maharashtra
ZEPPELIN INVESTMENTS PRIVATE LIMITED	Active	55.9 L	1	Maharashtra
KHANDELWAL REMEDIES P LTD	Strike Off	2.1 L	1	Maharashtra
GRAS EDUCATION & TRAINING SERVICES PRIVATE LIMITED	Active	3.6 Cr	1	Delhi
TESTDATA TECHNOLOGIES PRIVATE LIMITED	Active	1.0 L	1	Maharashtra
NAGPUR POWER AND INDUSTRIES LIMITED	Active	13.1 Cr	1	Maharashtra
ENTECRES LABS PRIVATE LIMITED	Active	1.7 L	1	Delhi
CARIQ TECHNOLOGIES PRIVATE LIMITED	Active	3.3 L	2	Maharashtra
FCPL BUY BIZ SELL BIZ PRIVATE LIMITED	Strike Off	15.0 L	1	Delhi
SENSEAI PARTNERS LLP	Active	1.0 L	1	Haryana
PFP ACOUSTIC AND SOFT TRIMS INDIA PRIVATE LIMITED	Strike Off	1.0 L	1	Maharashtra

Subsidiary Companies

Name	State / Country	Incorporation Year	Paidup Capital
FORES ELASTOMECH INDIA PRIVATE LIMITED	Maharashtra	2005	₹ 82.8 L

Registered Details

CIN

U25209MH1995PLC090037

PAN

AABCM2508F

Incorporation

1995, 29.8 years

Company Email

companysecretary@varroc.com

Paid up Capital

₹ 52.9 L

Authorised Capital

₹ 5.5 Cr

AGM

Sep 2024

Type

Public

Non-government Company

FAQ - VARROC POLYMERS LIMITED

What is the incorporation date of VARROC POLYMERS LIMITED?

The incorporation date of VARROC POLYMERS LIMITED is 20 June, 1995

What is the authorized share capital of VARROC POLYMERS LIMITED?

The authorized share capital of VARROC POLYMERS LIMITED is INR ₹ 5.5 Cr.

What is the paid-up capital of VARROC POLYMERS LIMITED?

The paid-up capital of VARROC POLYMERS LIMITED is INR ₹ 52.9 L.

What is the registered address of VARROC POLYMERS LIMITED?

The registered address of VARROC POLYMERS LIMITED is Plot No. L-4, MIDC, Waluj, NA Aurangabad Aurangabad Maharashtra - 431136

What is the CIN number of VARROC POLYMERS LIMITED?

The CIN number of VARROC POLYMERS LIMITED is U25209MH1995PLC090037.

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