Revenue growth target of 15-20%
Management targets to grow 4-5% ahead of market, maintaining double-digit growth trajectory across India and overseas operations.
VARROC / guidance tracker
Keep management guidance in view.
Varroc Engineering · forward-looking guidance across the available source record.
Research layer active
Guidance tracker
What management said would happen.
growth
Zero net debt by FY27-end
Net debt currently Rs 441 crore; expected to reduce gradually from Q2 FY27 onward after Q1 land purchase (~$150 crore).
Romania cash break-even in FY27
Romania facility currently at very low utilization; full PBT break-even expected the following year with new order ramp-up from H2 FY27.
Capex of Rs 300-350 crore in FY27
Land purchase near Pune (~$150 crore) plus capacity expansion; moderating to Rs 250-300 crore in outer years depending on new program wins.
FY27 Capex: ₹450-500 crore
Significant capex planned for FY27 focused on electronics, lighting, and EV capacity expansion, including land acquisition. This will be higher than FY28 capex guidance of ₹350-400 crore.
Overseas Breakeven by Q4 FY27
Romania electronics business expected to reach operational breakeven by Q4 FY27; Italian forging may take an additional year. International business overseas order book stands at ~₹1,400 crore.
Target: EBITDA Margin above 10%
Medium-term objective to reach double-digit EBITDA margins through revenue growth, operating leverage, and overseas turnaround. No specific timeline committed.
Net Debt to Zero by FY28
Target to achieve zero net debt status by end of FY28, though current capex requirements may maintain debt at ₹500-600 crore through FY27.