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VARROC2023-07-012023-09-30in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member VARROC2023-07-012023-09-30in-bse-fin:FourItemsThatWillBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 541578 VARROC NOTLISTED Varroc Engineering Limited Equity 2023-04-01 2024-03-31 2023-11-07 2023-10-31 INR Millions Half yearly 11:35:00 14:48:00 2023-11-07 2023-11-07 true Cash Flow Indirect Not applicable Multi segment 2023-07-01 2023-09-30 Unaudited Consolidated 18868090000.00 67410000.00 18935500000.00 11951930000.00 0.00 -12850000.00 2028160000.00 502580000.00 848870000.00 2958270000.00 18276960000.00 658540000.00 0.00 658540000.00 175000000.00 6960000.00 181960000.00 0.00 476580000.00 0.00 0.00 0.00 80580000.00 557160000.00 -45800000.00 511360000.00 542270000.00 14890000.00 496470000.00 14890000.00 152790000.00 1 3.55 3.55 0.00 0.00 3.55 3.55 Multi segment 2023-04-01 2023-09-30 Unaudited Consolidated 36924940000.00 122290000.00 37047230000.00 23547150000.00 0.00 -195750000.00 3950370000.00 991530000.00 1650480000.00 5853780000.00 35797560000.00 1249670000.00 0.00 1249670000.00 284930000.00 -860000.00 284070000.00 0.00 965600000.00 -209200000.00 0.00 -209200000.00 141880000.00 898280000.00 -281410000.00 616870000.00 864840000.00 33440000.00 583430000.00 33440000.00 152790000.00 1 7.03 7.03 -1.37 -1.37 5.66 5.66 Consumption of packing materials 243360000.00 Consumption of stores and spares and loose tools 245330000.00 Contract labour cost 757490000.00 Foreign exchange (gain)/loss (net) -71940000.00 Freight and forwarding expenses 241030000.00 Legal and Professional Fees 237100000.00 Other Miscellaneous Expenses 761380000.00 Water and electricity charges 544520000.00 Consumption of packing materials 464750000.00 Consumption of stores and spares and loose tools 490280000.00 Contract labour cost 1477110000.00 Foreign exchange (gain)/loss (net) -97190000.00 Freight and forwarding expenses 501370000.00 Legal and Professional Fees 410210000.00 Other Miscellaneous Expenses 1534670000.00 Water and electricity charges 1072580000.00 312970000.00 19396200000.00 788240000.00 0.00 468680000.00 654720000.00 116860000.00 0.00 3854210000.00 200000.00 0.00 0.00 304750000.00 304950000.00 72580000.00 1104270000.00 26760710000.00 6881250000.00 110500000.00 5453850000.00 2021560000.00 407890000.00 220000.00 167110000.00 8161130000.00 0.00 1685730000.00 16728110000.00 0.00 0.00 43488820000.00 152790000.00 10192630000.00 10345420000.00 10658390000.00 5247840000.00 0.00 1617090000.00 6864930000.00 283770000.00 1189280000.00 314800000.00 28230000.00 8681010000.00 7356400000.00 13120950000.00 1834720000.00 22312070000.00 1385090000.00 283090000.00 30620000.00 138550000.00 24149420000.00 0.00 0.00 32830430000.00 43488820000.00 Automotive 18410400000.00 Others 457690000.00 Segment from discontinued operation (automotive segment) 0.00 Automotive 35917630000.00 Others 1007310000.00 Segment from discontinued operation (automotive segment) 0.00 18868090000.00 36924940000.00 0.00 0.00 18868090000.00 36924940000.00 Automotive 1148640000.00 Others -4770000.00 Segment from discontinued operation (automotive segment) 0.00 Automotive 2181760000.00 Others 19590000.00 Segment from discontinued operation (automotive segment) -209200000.00 1143870000.00 1992150000.00 502580000.00 991530000.00 -97830000.00 1. Above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on November 07, 2023 and were subjected to review by the Statutory Auditors. 2. Varroc Engineering Limited (“VEL”) and VarrocCorp Holding BV, Netherlands (“VCHBV”, wholly owned subsidiary of VEL) (together referred to as “Sellers”) entered into a Securities Purchase Agreement dated April 29, 2022 as amended dated July 01, 2022, October 05, 2022 and May 12, 2023 (collectively referred to as “SPA”) with Compagnie Plastic Omnium SE, France (referred to as “Buyer”), to divest the Sellers 4 Wheeler lighting business in the Americas and Europe (“VLS Business”). The equity value agreed under the SPA was Euro 69.5 million (subject to closing adjustments as provided under the SPA) and accordingly the loss on sale of VLS Business was recognised during the quarter ended September 30, 2022 and had been included in the profit/loss from discontinued operations for the quarter ended September 30, 2022 and year ended March 31, 2023. The Buyer submitted the final adjustments but failed to provide the necessary supporting details to enable the Sellers to understand these adjustments. Hence, Sellers sent a Dispute Notice in accordance with the SPA disputing the proposed adjustments. Subsequently, both the Buyer and the Sellers have entered into Settlement Agreement on July 14, 2023 whereby both the parties have agreed to settle the disagreements on closing adjustments and the final equity value agreed under the Settlement Agreement is Euro 54.5 million. Accordingly, VCHBV has received the remaining consideration amount of Euro 13 million on July 17, 2023 pursuant to this final settlement with Buyer. -181730000.00 739120000.00 1182350000.00 Automotive 35782520000.00 Others 2106310000.00 Segment from discontinued operation (automotive segment) 0.00 37888830000.00 5599990000.00 43488820000.00 Automotive 18487690000.00 Others 488780000.00 Segment from discontinued operation (automotive segment) 0.00 18976470000.00 13853960000.00 32830430000.00 991530000.00 -164050000.00 519730000.00 0.00 0.00 0.00 0.00 -296820000.00 0.00 1145680000.00 0.00 -415750000.00 0.00 1650480000.00 -120090000.00 0.00 0.00 0.00 0.00 -97190000.00 0.00 39850000.00 0.00 0.00 0.00 -31700000.00 -13290000.00 7040000.00 0.00 3135720000.00 4385390000.00 0.00 0.00 0.00 457310000.00 0.00 3928080000.00 1158430000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 145010000.00 1130230000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 96930000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 13460000.00 40000000.00 0.00 -37480000.00 0.00 92260000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2500000000.00 6256550000.00 196660000.00 0.00 0.00 1070680000.00 0.00 0.00 -5023890000.00 -1003550000.00 1990000.00 -1001560000.00 3023130000.00 2021570000.00 Remeasurement of defined benefit obligation (net of tax) 0.00 Remeasurement of defined benefit obligation (net of tax) -1430000.00 0.00 -1430000.00 0.00 0.00 Exchange differences in translating the financial statements of foreign operations -45800000.00 Exchange differences in translating the financial statements of foreign operations -279980000.00 -45800000.00 -279980000.00 0.00 0.00