Varroc Engineering ltd. (VEL) was established in 1990 is a global Tier – 1 Auto ancillary provider operates in two businesses: Global Lightening business, Indian component business & designing, Manufacturing and supply of lightening systems for Global 2W OEMs.
Really happy for them ! ~ Anurang & Tarang Jain ~ Twins from our Sydenham College Mumbai Class of 83 & with who I’ve enjoyed long bridge sessions that often stretched into early morning while we were college mates.
Varroc is the 6th largest global automotive lighting company and the 2nd largest in EV lighting. Thus it is ideally placed to capture the migration within the automotive lighting industry from halogen/xenon to LED. Over 2014-16,
The co is bringing the issue at p/e multiple of approx. 29 on FY18 eps at price band of Rs 965-967/share. Co has strong competitive position in attractive growing markets has long-standing customer relationship with low cost, strategically located manufacturing and design footprint.
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