Varroc Engineering Share Price Live

Varroc Engineering Pvt Ltd is global providers of automotive parts. The company manufactures and supplies components and subassemblies for automobile, consumer durable, and white goods industries. They offer injection moulded engineering plastic components, multilayer co-extruded thermo plastic sheets, injection and compression moulded automotive and allied rubber products, polyurethane foam seat assemblies, rear view mirrors, air cleaner assemblies, and acrylic and poly urethane painted parts. The company has three subsidiaries namely, Durovalves India Pvt Ltd, Varroc Exhaust Systems Pvt Ltd and Varroc European Holding BV. The company is based in Aurangabad, India with manufacturing plants in Noida, Gurgaon, Delhi, Pantnagar, Chennai, Pune, and Mumbai, India; Amsterdam, the Netherlands; Warsaw, Poland; and Milan, Italy. Varroc Engineering Pvt Ltd was incorporated in the year 1988. During the year 2001-02, the company entered into technical collaboration/ assistance agreements with Mitsuba Corporation, Japan for the manufacture of Flywheel Magneto Assemblies and Driver Gear for Starter Motor. Also, they entered into technical collaboration/ assistance agreements with Shindengen Manufacturing Company Ltd, Japan for the manufacture of CDI & RR. During the year 2004-05, the company entered into agreements with Electric Components & Industries Europe Srl, Italy for acquisition of designs of Electronic Dashboard and LED Tail Light relating to the manufacture of dashboard instrument cluster and lighting equipments of motor cycle. During the year 2005-06, the company increased the production capacity at various units namely Auto Electric Switches at Waluj Pant-IV, Plastic Auto Components at Pune Plant-I, Rear view Mirror Assembly at Pune Plant-II and Automobile Seat Assembly at Pune Plant-II. They commenced commercial production in their Binola Plant and Waluj Plant-VII from January 1, 2006 and March 1, 2006 respectively. During the year, the company entered into an agreement with Scala Design, Germany for design & development of Expresso Coffee machine for Cars. Also, they entered into Technical Assistance agreement with Moellertech, France for manufacture of tooling and molded components for specific project. In November 22, 2005, the company promoted a new subsidiary company namely, Varroc Elastomers Pvt Ltd for manufacturing rubber based products. Also, the company acquired 40% share of Mouldcraft (Hindustan) Pvt Ltd held by Waluj Components Pvt Ltd, and their Associates, thereby making Mouldcraft (Hindustan) Pvt Ltd, a 100% subsidiary of the company with effect from January 1, 2006. During the year 2006-07, the company installed addition capacity for manufacture of Engine Valves at Waluj Plant-VII in view of increase in demand from their export customers. Also, they added capacities for new products at their various plants namely, Dash Board Assembly at Waluj Plant-II, LED Tail Light at Waluj Plant-II and Electrical Components at Waluj Plant-II. During the year, the company set up their new manufacturing facilities at Pantnagar in Uttarakhand for the manufacture of plastic molded, Electrical and Metallic auto- components to cater to the requirement of their principal customer Bajaj Auto Ltd. The unit commenced commercial operation from April 2007. During the year, the company promoted a wholly owned subsidiary namely, Varroc European Holding BV in Netherlands. The company acquired two running Steel forging Companies in Italy and Poland through their wholly owned European subsidiary Varroc European Holding BV, Netherlands and step down subsidiary Varroc Forging Italy SpA. During the year, the company acquired more than 54% shares in the equity capital of one of their group company namely, Durovalves India Pvt Ltd. Consequent upon acquisition, Durovalves India Pvt Ltd became subsidiary of the company with effect from May 08, 2007. During the year, the company transferred their entire stake in one of their wholly owned subsidiary company, Varroc Polymer Pvt Ltd (formerly known as Mouldcraft (Hindustan) Pvt Ltd) to Promoter, Director and their family members. Consequent upon transfer of shares, Varroc Polymers Pvt Ltd ceased to be subsidiary of the company. During the year 2007-08, Varroc Lighting Pvt. Ltd (a 100% subsidiary of the company) was amalgamated with the company with effect from April 1, 2007. Also, the polymer business of the company having five manufacturing plants was de-merged from the company and was transferred and vested in Varroc Polymers Pvt Ltd as a going concern with effect from April 1, 2007. The company increased the capacities of Flywheel Magneto Assembly/ Starter Motor Assembly/ Wiper Motor Assembly/ CDI & RR to meet the increased demands of the OE Customers in the Electrical Plant of the company. In February 2008, Varroc Forging Italy SpA merged with IMES, Italy consequent on restructuring of European operations. Also, IMES Italy became subsidiary of VEHBV, Netherlands and IMES Poland became a subsidiary of IMES, Italy. During the year 2008-09, the company terminated the Technical Assistance agreement with Gates srl entered owing to certain operational and technical difficulties in implementation of the said agreement. Consequent upon the sale of equity shares of Varroc Trading Pvt Ltd, the said company ceased to be a subsidiary of the company with effect from December 17, 2008. The company has geared up themselves to meet the stringent demands of overseas OEMs in terms of infrastructure, quality assurance and timely deliveries and is taking all possible steps expand customer base to increase exports. Also, the company is exploring the possibility of setting up a joint venture/ WOS in China to reap the benefit of lower costs.