5415782026-01-012026-03-315415782026-03-315415782025-03-315415782025-04-012026-03-315415782026-01-012026-03-31in-capmkt:OtherExpenses1Member5415782026-01-012026-03-31in-capmkt:OtherExpenses2Member5415782026-01-012026-03-31in-capmkt:OtherExpenses3Member5415782026-01-012026-03-31in-capmkt:OtherExpenses4Member5415782026-01-012026-03-31in-capmkt:OtherExpenses5Member5415782026-01-012026-03-31in-capmkt:OtherExpenses6Member5415782026-01-012026-03-31in-capmkt:OtherExpenses7Member5415782026-01-012026-03-31in-capmkt:OtherExpenses8Member5415782025-04-012026-03-31in-capmkt:OtherExpenses1Member5415782025-04-012026-03-31in-capmkt:OtherExpenses2Member5415782025-04-012026-03-31in-capmkt:OtherExpenses3Member5415782025-04-012026-03-31in-capmkt:OtherExpenses4Member5415782025-04-012026-03-31in-capmkt:OtherExpenses5Member5415782025-04-012026-03-31in-capmkt:OtherExpenses6Member5415782025-04-012026-03-31in-capmkt:OtherExpenses7Member5415782025-04-012026-03-31in-capmkt:OtherExpenses8Member5415782026-03-31OtherNoncurrentFinancialAssetsDomain15415782026-03-31OtherNoncurrentAssetsDomain15415782026-03-31OtherCurrentFinancialAssetsDomain15415782026-03-31OtherCurrentAssetsDomain15415782026-03-31OtherNoncurrentFinancialLiabilitiesDomain15415782026-03-31OtherCurrentFinancialLiabilitiesDomain15415782026-03-31OtherCurrentLiabilitiesDomain15415782026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15415782025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15415782026-01-012026-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15415782025-04-012026-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15415782026-01-012026-03-31RelatedPartyTransactionDomain15415782025-12-31RelatedPartyTransactionDomain15415782026-03-31RelatedPartyTransactionDomain15415782026-01-012026-03-31RelatedPartyTransactionDomain25415782025-12-31RelatedPartyTransactionDomain25415782026-03-31RelatedPartyTransactionDomain25415782026-01-012026-03-31RelatedPartyTransactionDomain35415782025-12-31RelatedPartyTransactionDomain35415782026-03-31RelatedPartyTransactionDomain35415782026-01-012026-03-31RelatedPartyTransactionDomain45415782025-12-31RelatedPartyTransactionDomain45415782026-03-31RelatedPartyTransactionDomain45415782026-01-012026-03-31RelatedPartyTransactionDomain55415782025-12-31RelatedPartyTransactionDomain55415782026-03-31RelatedPartyTransactionDomain55415782026-01-012026-03-31RelatedPartyTransactionDomain65415782025-12-31RelatedPartyTransactionDomain65415782026-03-31RelatedPartyTransactionDomain65415782026-01-012026-03-31RelatedPartyTransactionDomain75415782025-12-31RelatedPartyTransactionDomain75415782026-03-31RelatedPartyTransactionDomain75415782026-01-012026-03-31RelatedPartyTransactionDomain85415782025-12-31RelatedPartyTransactionDomain85415782026-03-31RelatedPartyTransactionDomain85415782026-01-012026-03-31RelatedPartyTransactionDomain95415782025-12-31RelatedPartyTransactionDomain95415782026-03-31RelatedPartyTransactionDomain95415782026-01-012026-03-31RelatedPartyTransactionDomain105415782025-12-31RelatedPartyTransactionDomain105415782026-03-31RelatedPartyTransactionDomain105415782026-01-012026-03-31RelatedPartyTransactionDomain115415782025-12-31RelatedPartyTransactionDomain115415782026-03-31RelatedPartyTransactionDomain115415782026-01-012026-03-31RelatedPartyTransactionDomain125415782025-12-31RelatedPartyTransactionDomain125415782026-03-31RelatedPartyTransactionDomain125415782026-01-012026-03-31RelatedPartyTransactionDomain135415782025-12-31RelatedPartyTransactionDomain135415782026-03-31RelatedPartyTransactionDomain135415782026-01-012026-03-31RelatedPartyTransactionDomain145415782025-12-31RelatedPartyTransactionDomain145415782026-03-31RelatedPartyTransactionDomain145415782026-01-012026-03-31RelatedPartyTransactionDomain155415782025-12-31RelatedPartyTransactionDomain155415782026-03-31RelatedPartyTransactionDomain155415782026-01-012026-03-31RelatedPartyTransactionDomain165415782025-12-31RelatedPartyTransactionDomain165415782026-03-31RelatedPartyTransactionDomain165415782026-01-012026-03-31RelatedPartyTransactionDomain175415782025-12-31RelatedPartyTransactionDomain175415782026-03-31RelatedPartyTransactionDomain175415782026-01-012026-03-31RelatedPartyTransactionDomain185415782025-12-31RelatedPartyTransactionDomain185415782026-03-31RelatedPartyTransactionDomain185415782026-01-012026-03-31RelatedPartyTransactionDomain195415782025-12-31RelatedPartyTransactionDomain195415782026-03-31RelatedPartyTransactionDomain195415782026-01-012026-03-31RelatedPartyTransactionDomain205415782025-12-31RelatedPartyTransactionDomain205415782026-03-31RelatedPartyTransactionDomain205415782026-01-012026-03-31RelatedPartyTransactionDomain215415782025-12-31RelatedPartyTransactionDomain215415782026-03-31RelatedPartyTransactionDomain215415782026-01-012026-03-31RelatedPartyTransactionDomain225415782025-12-31RelatedPartyTransactionDomain225415782026-03-31RelatedPartyTransactionDomain225415782026-01-012026-03-31RelatedPartyTransactionDomain235415782025-12-31RelatedPartyTransactionDomain235415782026-03-31RelatedPartyTransactionDomain235415782026-01-012026-03-31RelatedPartyTransactionDomain245415782025-12-31RelatedPartyTransactionDomain245415782026-03-31RelatedPartyTransactionDomain245415782026-01-012026-03-31RelatedPartyTransactionDomain255415782025-12-31RelatedPartyTransactionDomain255415782026-03-31RelatedPartyTransactionDomain255415782026-01-012026-03-31RelatedPartyTransactionDomain265415782025-12-31RelatedPartyTransactionDomain265415782026-03-31RelatedPartyTransactionDomain265415782026-01-012026-03-31RelatedPartyTransactionDomain275415782025-12-31RelatedPartyTransactionDomain275415782026-03-31RelatedPartyTransactionDomain275415782026-01-012026-03-31RelatedPartyTransactionDomain285415782025-12-31RelatedPartyTransactionDomain285415782026-03-31RelatedPartyTransactionDomain285415782026-01-012026-03-31RelatedPartyTransactionDomain295415782025-12-31RelatedPartyTransactionDomain295415782026-03-31RelatedPartyTransactionDomain295415782026-01-012026-03-31RelatedPartyTransactionDomain305415782025-12-31RelatedPartyTransactionDomain305415782026-03-31RelatedPartyTransactionDomain305415782026-01-012026-03-31RelatedPartyTransactionDomain315415782025-12-31RelatedPartyTransactionDomain315415782026-03-31RelatedPartyTransactionDomain315415782026-01-012026-03-31RelatedPartyTransactionDomain325415782025-12-31RelatedPartyTransactionDomain325415782026-03-31RelatedPartyTransactionDomain325415782026-01-012026-03-31RelatedPartyTransactionDomain335415782025-12-31RelatedPartyTransactionDomain335415782026-03-31RelatedPartyTransactionDomain335415782026-01-012026-03-31RelatedPartyTransactionDomain345415782025-12-31RelatedPartyTransactionDomain345415782026-03-31RelatedPartyTransactionDomain345415782026-01-012026-03-31RelatedPartyTransactionDomain355415782025-12-31RelatedPartyTransactionDomain355415782026-03-31RelatedPartyTransactionDomain355415782026-01-012026-03-31RelatedPartyTransactionDomain365415782025-12-31RelatedPartyTransactionDomain365415782026-03-31RelatedPartyTransactionDomain365415782026-01-012026-03-31RelatedPartyTransactionDomain375415782025-12-31RelatedPartyTransactionDomain375415782026-03-31RelatedPartyTransactionDomain375415782026-01-012026-03-31RelatedPartyTransactionDomain385415782025-12-31RelatedPartyTransactionDomain385415782026-03-31RelatedPartyTransactionDomain385415782026-01-012026-03-31RelatedPartyTransactionDomain395415782025-12-31RelatedPartyTransactionDomain395415782026-03-31RelatedPartyTransactionDomain395415782026-01-012026-03-31RelatedPartyTransactionDomain405415782025-12-31RelatedPartyTransactionDomain405415782026-03-31RelatedPartyTransactionDomain405415782026-01-012026-03-31RelatedPartyTransactionDomain415415782025-12-31RelatedPartyTransactionDomain415415782026-03-31RelatedPartyTransactionDomain415415782026-01-012026-03-31RelatedPartyTransactionDomain425415782025-12-31RelatedPartyTransactionDomain425415782026-03-31RelatedPartyTransactionDomain425415782026-01-012026-03-31RelatedPartyTransactionDomain435415782025-12-31RelatedPartyTransactionDomain435415782026-03-31RelatedPartyTransactionDomain435415782026-01-012026-03-31RelatedPartyTransactionDomain445415782025-12-31RelatedPartyTransactionDomain445415782026-03-31RelatedPartyTransactionDomain445415782026-01-012026-03-31RelatedPartyTransactionDomain455415782025-12-31RelatedPartyTransactionDomain455415782026-03-31RelatedPartyTransactionDomain455415782026-01-012026-03-31RelatedPartyTransactionDomain465415782025-12-31RelatedPartyTransactionDomain465415782026-03-31RelatedPartyTransactionDomain465415782026-01-012026-03-31RelatedPartyTransactionDomain475415782025-12-31RelatedPartyTransactionDomain475415782026-03-31RelatedPartyTransactionDomain475415782026-01-012026-03-31RelatedPartyTransactionDomain485415782025-12-31RelatedPartyTransactionDomain485415782026-03-31RelatedPartyTransactionDomain485415782026-01-012026-03-31RelatedPartyTransactionDomain495415782025-12-31RelatedPartyTransactionDomain495415782026-03-31RelatedPartyTransactionDomain495415782026-01-012026-03-31RelatedPartyTransactionDomain505415782025-12-31RelatedPartyTransactionDomain505415782026-03-31RelatedPartyTransactionDomain505415782026-01-012026-03-31RelatedPartyTransactionDomain515415782025-12-31RelatedPartyTransactionDomain515415782026-03-31RelatedPartyTransactionDomain515415782026-01-012026-03-31RelatedPartyTransactionDomain525415782025-12-31RelatedPartyTransactionDomain525415782026-03-31RelatedPartyTransactionDomain525415782026-01-012026-03-31RelatedPartyTransactionDomain535415782025-12-31RelatedPartyTransactionDomain535415782026-03-31RelatedPartyTransactionDomain535415782026-01-012026-03-31RelatedPartyTransactionDomain545415782025-12-31RelatedPartyTransactionDomain545415782026-03-31RelatedPartyTransactionDomain545415782026-01-012026-03-31RelatedPartyTransactionDomain555415782025-12-31RelatedPartyTransactionDomain555415782026-03-31RelatedPartyTransactionDomain555415782026-01-012026-03-31RelatedPartyTransactionDomain565415782025-12-31RelatedPartyTransactionDomain565415782026-03-31RelatedPartyTransactionDomain565415782026-01-012026-03-31RelatedPartyTransactionDomain575415782025-12-31RelatedPartyTransactionDomain575415782026-03-31RelatedPartyTransactionDomain575415782026-01-012026-03-31RelatedPartyTransactionDomain585415782025-12-31RelatedPartyTransactionDomain585415782026-03-31RelatedPartyTransactionDomain585415782026-01-012026-03-31RelatedPartyTransactionDomain595415782025-12-31RelatedPartyTransactionDomain595415782026-03-31RelatedPartyTransactionDomain595415782026-01-012026-03-31RelatedPartyTransactionDomain605415782025-12-31RelatedPartyTransactionDomain605415782026-03-31RelatedPartyTransactionDomain605415782026-01-012026-03-31RelatedPartyTransactionDomain615415782025-12-31RelatedPartyTransactionDomain615415782026-03-31RelatedPartyTransactionDomain615415782026-01-012026-03-31RelatedPartyTransactionDomain625415782025-12-31RelatedPartyTransactionDomain625415782026-03-31RelatedPartyTransactionDomain625415782026-01-012026-03-31RelatedPartyTransactionDomain635415782025-12-31RelatedPartyTransactionDomain635415782026-03-31RelatedPartyTransactionDomain635415782026-01-012026-03-31RelatedPartyTransactionDomain645415782025-12-31RelatedPartyTransactionDomain645415782026-03-31RelatedPartyTransactionDomain645415782026-01-012026-03-31RelatedPartyTransactionDomain655415782025-12-31RelatedPartyTransactionDomain655415782026-03-31RelatedPartyTransactionDomain655415782026-01-012026-03-31RelatedPartyTransactionDomain665415782025-12-31RelatedPartyTransactionDomain665415782026-03-31RelatedPartyTransactionDomain665415782026-01-012026-03-31RelatedPartyTransactionDomain675415782025-12-31RelatedPartyTransactionDomain675415782026-03-31RelatedPartyTransactionDomain675415782026-01-012026-03-31RelatedPartyTransactionDomain685415782025-12-31RelatedPartyTransactionDomain685415782026-03-31RelatedPartyTransactionDomain685415782026-01-012026-03-31RelatedPartyTransactionDomain695415782025-12-31RelatedPartyTransactionDomain695415782026-03-31RelatedPartyTransactionDomain695415782026-01-012026-03-31RelatedPartyTransactionDomain705415782025-12-31RelatedPartyTransactionDomain705415782026-03-31RelatedPartyTransactionDomain705415782026-01-012026-03-31RelatedPartyTransactionDomain715415782025-12-31RelatedPartyTransactionDomain715415782026-03-31RelatedPartyTransactionDomain715415782026-01-012026-03-31RelatedPartyTransactionDomain725415782025-12-31RelatedPartyTransactionDomain725415782026-03-31RelatedPartyTransactionDomain725415782026-01-012026-03-31RelatedPartyTransactionDomain735415782025-12-31RelatedPartyTransactionDomain735415782026-03-31RelatedPartyTransactionDomain735415782026-01-012026-03-31RelatedPartyTransactionDomain745415782025-12-31RelatedPartyTransactionDomain745415782026-03-31RelatedPartyTransactionDomain745415782026-01-012026-03-31RelatedPartyTransactionDomain755415782025-12-31RelatedPartyTransactionDomain755415782026-03-31RelatedPartyTransactionDomain755415782026-01-012026-03-31RelatedPartyTransactionDomain765415782025-12-31RelatedPartyTransactionDomain765415782026-03-31RelatedPartyTransactionDomain765415782026-01-012026-03-31RelatedPartyTransactionDomain775415782025-12-31RelatedPartyTransactionDomain775415782026-03-31RelatedPartyTransactionDomain775415782026-01-012026-03-31RelatedPartyTransactionDomain785415782025-12-31RelatedPartyTransactionDomain785415782026-03-31RelatedPartyTransactionDomain785415782026-01-012026-03-31RelatedPartyTransactionDomain795415782025-12-31RelatedPartyTransactionDomain795415782026-03-31RelatedPartyTransactionDomain795415782026-01-012026-03-31RelatedPartyTransactionDomain805415782025-12-31RelatedPartyTransactionDomain805415782026-03-31RelatedPartyTransactionDomain805415782026-01-012026-03-31RelatedPartyTransactionDomain815415782025-12-31RelatedPartyTransactionDomain815415782026-03-31RelatedPartyTransactionDomain815415782026-01-012026-03-31RelatedPartyTransactionDomain825415782025-12-31RelatedPartyTransactionDomain825415782026-03-31RelatedPartyTransactionDomain825415782026-01-012026-03-31RelatedPartyTransactionDomain835415782025-12-31RelatedPartyTransactionDomain835415782026-03-31RelatedPartyTransactionDomain835415782026-01-012026-03-31RelatedPartyTransactionDomain845415782025-12-31RelatedPartyTransactionDomain845415782026-03-31RelatedPartyTransactionDomain845415782026-01-012026-03-31RelatedPartyTransactionDomain855415782025-12-31RelatedPartyTransactionDomain855415782026-03-31RelatedPartyTransactionDomain855415782026-01-012026-03-31RelatedPartyTransactionDomain865415782025-12-31RelatedPartyTransactionDomain865415782026-03-31RelatedPartyTransactionDomain865415782026-01-012026-03-31RelatedPartyTransactionDomain875415782025-12-31RelatedPartyTransactionDomain875415782026-03-31RelatedPartyTransactionDomain875415782026-01-012026-03-31RelatedPartyTransactionDomain885415782025-12-31RelatedPartyTransactionDomain885415782026-03-31RelatedPartyTransactionDomain885415782026-01-012026-03-31RelatedPartyTransactionDomain895415782025-12-31RelatedPartyTransactionDomain895415782026-03-31RelatedPartyTransactionDomain895415782026-01-012026-03-31RelatedPartyTransactionDomain905415782025-12-31RelatedPartyTransactionDomain905415782026-03-31RelatedPartyTransactionDomain905415782026-01-012026-03-31RelatedPartyTransactionDomain915415782025-12-31RelatedPartyTransactionDomain915415782026-03-31RelatedPartyTransactionDomain915415782026-01-012026-03-31RelatedPartyTransactionDomain925415782025-12-31RelatedPartyTransactionDomain925415782026-03-31RelatedPartyTransactionDomain925415782026-01-012026-03-31RelatedPartyTransactionDomain935415782025-12-31RelatedPartyTransactionDomain935415782026-03-31RelatedPartyTransactionDomain935415782026-01-012026-03-31RelatedPartyTransactionDomain945415782025-12-31RelatedPartyTransactionDomain945415782026-03-31RelatedPartyTransactionDomain945415782026-01-012026-03-31RelatedPartyTransactionDomain955415782025-12-31RelatedPartyTransactionDomain955415782026-03-31RelatedPartyTransactionDomain955415782026-01-012026-03-31RelatedPartyTransactionDomain965415782025-12-31RelatedPartyTransactionDomain965415782026-03-31RelatedPartyTransactionDomain965415782026-01-012026-03-31RelatedPartyTransactionDomain975415782025-12-31RelatedPartyTransactionDomain975415782026-03-31RelatedPartyTransactionDomain975415782026-01-012026-03-31RelatedPartyTransactionDomain985415782025-12-31RelatedPartyTransactionDomain985415782026-03-31RelatedPartyTransactionDomain985415782026-01-012026-03-31RelatedPartyTransactionDomain995415782025-12-31RelatedPartyTransactionDomain995415782026-03-31RelatedPartyTransactionDomain995415782026-01-012026-03-31RelatedPartyTransactionDomain1005415782025-12-31RelatedPartyTransactionDomain1005415782026-03-31RelatedPartyTransactionDomain1005415782026-01-012026-03-31RelatedPartyTransactionDomain1015415782025-12-31RelatedPartyTransactionDomain1015415782026-03-31RelatedPartyTransactionDomain1015415782026-01-012026-03-31RelatedPartyTransactionDomain1025415782025-12-31RelatedPartyTransactionDomain1025415782026-03-31RelatedPartyTransactionDomain1025415782026-01-012026-03-31RelatedPartyTransactionDomain1035415782025-12-31RelatedPartyTransactionDomain1035415782026-03-31RelatedPartyTransactionDomain1035415782026-01-012026-03-31RelatedPartyTransactionDomain1045415782025-12-31RelatedPartyTransactionDomain1045415782026-03-31RelatedPartyTransactionDomain1045415782026-01-012026-03-31RelatedPartyTransactionDomain1055415782025-12-31RelatedPartyTransactionDomain1055415782026-03-31RelatedPartyTransactionDomain1055415782026-01-012026-03-31RelatedPartyTransactionDomain1065415782025-12-31RelatedPartyTransactionDomain1065415782026-03-31RelatedPartyTransactionDomain1065415782026-01-012026-03-31RelatedPartyTransactionDomain1075415782025-12-31RelatedPartyTransactionDomain1075415782026-03-31RelatedPartyTransactionDomain1075415782026-01-012026-03-31RelatedPartyTransactionDomain1085415782025-12-31RelatedPartyTransactionDomain1085415782026-03-31RelatedPartyTransactionDomain1085415782026-01-012026-03-31RelatedPartyTransactionDomain1095415782025-12-31RelatedPartyTransactionDomain1095415782026-03-31RelatedPartyTransactionDomain1095415782026-01-012026-03-31RelatedPartyTransactionDomain1105415782025-12-31RelatedPartyTransactionDomain1105415782026-03-31RelatedPartyTransactionDomain1105415782026-01-012026-03-31RelatedPartyTransactionDomain1115415782025-12-31RelatedPartyTransactionDomain1115415782026-03-31RelatedPartyTransactionDomain1115415782026-01-012026-03-31AuditorDomain15415782026-01-012026-03-31in-capmkt:AuditedMember5415782026-03-31in-capmkt:AuditedMember5415782026-01-012026-03-31in-capmkt:AdjustedMember5415782026-03-31in-capmkt:AdjustedMember5415782026-01-012026-03-31AuditQualification1iso4217:INRxbrli:pureiso4217:INRxbrli:shares541578VARROCNOTLISTEDINE665L01035VARROC ENGINEERING LIMITEDMain BoardEquity2025-04-012026-03-312026-05-272026-05-18INRMillionsQuarterlyFourth quarterSingle segmentIn Accordance with paragraph 4 of the notified IND AS 108 The Company has disclosed segment information only on the basis of consolidated financial statement.2026-05-2713:25:002026-05-2715:35:00trueCash Flow IndirectStatement on impact of audit qualificationtruetrueNANAfalsetrue2025-03-27https://www.varroc.com/upload/financial_results/1743067406881274532.pdffalsefalsenot applicable2026-01-012026-03-31AuditedStandalone214963000003001000021526310000144097100000-17852000017610000002986100006790100003194620000201644300001361880000013618800000343660000343660000010182200000000101822000039490000105771000015279000016.666.66006.666.660.00280.03620.0783 <BR> 1) The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on May 27, 2026 and were subjected to audit by the Statutory Auditors. <BR> <BR> 2) The Company had received a settlement offer during the quarter ended June 30, 2025 from Beste Motor Co. Ltd. and TYC Brother Industrial Co. Ltd. (“TYC Parties”) alleging breach of Transition Management Agreement (‘TMA’ or ‘agreement’) in respect of certain income amounting to Rs. 209.89 million recognised by the Company under ‘Revenue from operations’ during the quarter ended June 30, 2025, as received from Chongqing Varroc TYC Auto Lamps Co., Ltd. (erstwhile joint venture). Subsequently, the Group received Statement of Claim under the arbitration proceedings originally initiated by TYC Parties in August 2022, on the aforesaid matter and on certain additional claims/breaches under the aforesaid TMA, which are to be quantified against which the Company has filed Statement of defence in March 2026. The Company believes that it has a strong case and will take appropriate actions as necessary to protect its interests. The auditors in their audit report have included a qualification in respect of this matter. <BR> <BR> 3) On July 7, 2025, the Company, together with its Wholly Owned Subsidiary, VarrocCorp Holding B.V., Netherlands, received an intimation from ICC International Court of Arbitration ('ICC') with respect to a Request for Arbitration initiated by OPmobility Lighting Holding, France (Erstwhile PO Lighting Systems). The request pertains to certain alleged breaches of covenants under the Securities Purchase Agreement executed between the parties on April 29, 2022, and subsequently amended on October 5, 2022, May 12, 2023, and June 15, 2023. Claims in respect of some of the breaches have been quantified at US$ 66.41 mn plus legal costs while for others no quantification has been provided. The Company is evaluating the matter and exploring legal and contractual remedies. It intends to contest the claims and take appropriate steps to protect its interests. Based on a legal opinion obtained, the Company believes that it has grounds to defend against the said allegations and accordingly no provision has been considered in respect of this matter in these results. <BR> <BR> 4) Exceptional items for the periods presented in the standalone results include following: <BR> a. On November 21, 2025, the Government of India notified the four Labour Codes– the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 consolidating 29 existing labour laws. The Company has assessed and disclosed the incremental impact of these changes on the basis of the best information available and guidance provided by the Institute of Chartered Accountants of India. Considering the materiality and regulatory-driven, non-recurring nature of this impact, the Company has presented such incremental impact under "Exceptional Items" in the financial results for the quarter ended December 31, 2025 and year ended March 31, 2026. The incremental impact on provisions for employee benefits expenses of Rs. 217.93 million (gross of tax) towards gratuity and compensated absences primarily arises due to change in wage definition. The Company continues to monitor the finalisation of Central/State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect as and when such clarifications are issued/rules are notified. <BR> <BR> b. The Company announced a Voluntary Separation Scheme (‘VSS’) for all eligible permanent workmen at specific plants of the Company. In this regard, the Company accepted separation of 338 employees and the separation cost of Rs. 663.44 million (gross of tax) associated with the VSS has been recognised as an exceptional item during the quarter ended December 31, 2025 and year ended March 31, 2026. <BR> <BR> c. Estimated expenses directly attributable to the merger of Varroc Polymers Limited (‘VPL’) with the Company amounting to Rs 83.32 million and Rs. 196.02 million for the quarter and year ended March 31, 2025, respectively. Further, exceptional item also includes write back of excess accrual of aforesaid expenses of Rs. 10 million for the quarter ended December 31, 2025 and year ended March 31, 2026. <BR> <BR> d. KTMAG, oneof the customer of the Company, filed for insolvency and the Court admitted restructuring with self-administration in Austria. Considering these developments, the Company recognised a provision for the expected credit loss of trade receivables as exceptional item amounting to Rs. 12.10 million for the quarter and year ended March 31, 2025.2025-04-012026-03-31AuditedStandalone8145532000012358000081578900000542590800000-50979000069503400001205490000261084000012312860000768288200004750080000-87137000038787100001120000995660000996780000028819300000000288193000044830000292676000015279000012049862000018.8618.860018.8618.860.00280.030.0711Foreign exchange (gain)/loss (net)54180000Consumption of Stores, Spares and Tools233520000Consumption of Packing Material248460000Water and Electricity Charges451880000Contract Labour Cost892260000Freight and Forwarding Expenses280360000Legal and Professional Fees148750000Other Expenses885210000Foreign exchange (gain)/loss (net)78260000Consumption of Stores, Spares and Tools865810000Consumption of Packing Material1015700000Water and Electricity Charges1735720000Contract Labour Cost3475200000Freight and Forwarding Expenses1109670000Legal and Professional Fees576570000Other Expenses345593000017675670000333120000018390000033040000055011000000837025000000172410000854266000011308900002874675000073594700000569232000030852000043244000018909000021303000068354000003044710000172395800000045986330000152790000204986200002065141000020651410000197668000000082658000028032600001803700001953500002255200003404500000379532000024482800001160771000014055990000244530000020296610000115054000041826000006501000021930420000002533492000045986330000Other non-current financial assets172410000Other non-current assets1130890000Other current financial assets213030000Other current assets3044710000Other non-current financial liabilities826580000Other current financial liabilities2445300000Other current liabilities11505400001205490000-1527490000-4646500000-78570000-27324000039230000-66270000014654100000-159920000-316400002610840000014057000080500000-1689900000030000974400000000-62450000002611350000649006000000011000000006380060000000000008019000036423700000000000000000296130000137321000000300001711300000-18360000-23323000000000000018000000004585140000276650000152790000111608000000-4330660000-2829000000-282900000591420000308520000Remeasurement of defined benefit obligation (net of tax)3209000032090000Remeasurement of defined benefit obligation (net of tax)5990000059900000807000015070000Deferred hedging gains on cash flow hedges2067000020670000Deferred hedging gains on cash flow hedges00520000003949000044830000Varroc Engineering Limited******Durovalves India Private Limited******Direct SubsidiarySale of goods or services130000000Within Limit410900001486000017990000Varroc Engineering Limited******Endurance Technologies Ltd******Enterprises Owned or controlled by key management personnel and/or their relativesSale of goods or services30000000Within Limit5370000890000470000Varroc Engineering Limited******Industria Meccanica E Stampaggio S.p.a.******Step down subsidiarySale of goods or services15000000Within Limit569000056800007260000Varroc Engineering Limited******Varroc Dellórto Private Limited******Jointly Controlled EntitiesSale of goods or services380000000Within Limit23533000070940000107440000Varroc Engineering Limited******Varroc Italy S.p.A.******Step down subsidiarySale of goods or services30000000Within Limit0727000002180000Varroc Engineering Limited******Varroc Romania S.A.******Step down subsidiarySale of goods or services5000000Within Limit0450000480000Varroc Engineering Limited******Varroc Japan Co. Limited******Direct SubsidiarySale of goods or services50000000Within Limit2000000Varroc Engineering Limited******Varroc Electronics Romania S.r.l.******Step down subsidiaryAny other transactionGuarantee commission received0NA24200001669000020010000Varroc Engineering Limited******Industria Meccanica E Stampaggio S.p.a.******Step down subsidiaryAny other transactionGuarantee commission received0NA13000006800002070000Varroc Engineering Limited******VarrocCorp Holding B.V., The Netherlands******Direct SubsidiaryAny other transactionGuarantee commission received0NA240000100000210000Varroc Engineering Limited******Durovalves India Private Limited******Direct SubsidiaryAny other transactionManagement consultancy fees received7500000Within Limit250000013500001350000Varroc Engineering Limited******Varroc Dellórto Private Limited******Jointly Controlled EntitiesAny other transactionManagement consultancy fees received10000000Within Limit415000022400002720000Varroc Engineering Limited******Varroc Dellórto Private Limited******Jointly Controlled EntitiesAny other transactionRent received10000000Within Limit1370000470000540000Varroc Engineering Limited******Varroc Connect Private Limited******Direct SubsidiaryAny other transactionRent received2000000Within Limit30000010600001420000Varroc Engineering Limited******Varroc Connect Private Limited******Direct SubsidiaryInterest received0NA809000050600009990000Varroc Engineering Limited******Varroc European Holding B.V.,The Netherlands******Direct SubsidiaryInterest received0NA221000061200001050000Varroc Engineering Limited******Varroc Connect Private Limited******Direct SubsidiaryLoan150000000Within Limit49400000128500000177900000Varroc Engineering Limited******Varroc European Holding B.V.,The Netherlands******Direct SubsidiaryLoan0Within Limit107810000303770000199800000Varroc Engineering Limited******Durovalves India Private Limited******Direct SubsidiaryAny other transactionReimbursement of expenses (Received/ Receivable)10000000Within Limit29600001900003440000Varroc Engineering Limited******Varroc Dellórto Private Limited******Jointly Controlled EntitiesAny other transactionReimbursement of expenses (Received/ Receivable)5000000Within Limit3300000300000Varroc Engineering Limited******Varroc Vietnam Co. Ltd.******Step down subsidiaryAny other transactionReimbursement of expenses (Received/ Receivable)5000000Within Limit014200000Varroc Engineering Limited******VarrocCorp Holding B.V., The Netherlands******Direct SubsidiaryAny other transactionReimbursement of expenses (Received/ Receivable)70000000Within Limit03526000035260000Varroc Engineering Limited******Varroc Connect Private Limited******Direct SubsidiaryAny other transactionReimbursement of expenses (Received/ Receivable)10000000Within Limit2330000915000011520000Varroc Engineering Limited******Varroc Italy S.p.A.******Step down subsidiaryAny other transactionReimbursement of expenses (Received/ Receivable)5000000Within Limit018700000Varroc Engineering Limited******Durovalves India Private Limited******Direct SubsidiaryPurchase of goods or services130000000Within Limit2221000033200001640000Varroc Engineering Limited******Varroc Connect Private Limited******Direct SubsidiaryPurchase of goods or services70000000Within Limit8060000394000010040000Varroc Engineering Limited******Varroc Italy S.p.A.******Step down subsidiaryPurchase of goods or services30000000Within Limit0178100000Varroc Engineering Limited******Varroc Japan Co. Limited******Direct SubsidiaryPurchase of goods or services75000000Within Limit292900001254000014740000Varroc Engineering Limited******Varroc Electronics Romania S.r.l.******Step down subsidiaryPurchase of goods or services100000000Within Limit222000010170000100000Varroc Engineering Limited******Varroc Poland s.p.z.oo******Step down subsidiaryPurchase of goods or services1000000000Within Limit221770000199540000261570000Varroc Engineering Limited******Varroc Intelligent Driving R&D Center (Changzhou) Co., Ltd.******Step down subsidiaryPurchase of goods or services2000000000Within Limit299650000250830000194450000Varroc Engineering Limited******Scarpa & Colombo S.r.L******Enteprises which exercise significant influence over direct subsidiaryPurchase of goods or services15000000Within Limit1000059400000Varroc Engineering Limited******Industria Meccanica E Stampaggio S.p.a.******Step down subsidiaryPurchase of goods or services30000000Within Limit2001000000Varroc Engineering Limited******Mr. Vinish Kathuria******Independent DirectorAny other transactionProfessional charges /Commission Paid/Payable0NA170000001700000Varroc Engineering Limited******Mr. Tarang Jain******Chairman and Managing DirectorRemuneration250000000NA4653000000Varroc Engineering Limited******Mr. Arjun Jain******Whole time DirectorRemuneration80000000NA1211000000Varroc Engineering Limited******Mr. K. Mahendra Kumar******Group Chief Finance OfficerRemuneration0NA1344000000Varroc Engineering Limited******Mr. Anil Ghatiya******Company SecretaryRemuneration0NA222000000Varroc Engineering Limited******Mr. Dhruv Jain******Whole time DirectorRemuneration50000000NA1060000000Varroc Engineering Limited******Mr. Padmanabh Sinha******Independent DirectorAny other transactionDirectors sitting fees0NA4000000180000Varroc Engineering Limited******Mr. Vinish Kathuria******Independent DirectorAny other transactionDirectors sitting fees0NA10000000270000Varroc Engineering Limited******Varroc Connect Private Limited******Direct SubsidiaryAny other transactionReimbursement of expenses (Paid/Payable)15000000Within Limit02200000Varroc Engineering Limited******Varroc Electronics Romania S.r.l.******Step down subsidiaryAny other transactionCorporate guarantees750000000Within Limit0332600000516610000Varroc Engineering Limited******Industria Meccanica E Stampaggio S.p.a.******Step down subsidiaryAny other transactionCorporate guarantees510000000Within Limit299670000103970000272430000Varroc Engineering Limited******VarrocCorp Holding B.V., The Netherlands******Direct SubsidiaryAny other transactionCorporate guarantees300000000Within Limit062380000272430000Varroc Engineering Limited******Varroc Foundation******Enterprises Owned or controlled by key management personnel and/or their relativesAny other transactionCorporate Social Responsibility (CSR)100000000Within Limit3103000000Varroc Engineering Limited******Dellorto S.P.A.******JV PartnerAny other transactionRoyalty Paid/Payable30000000Within Limit1317000043200000Varroc Engineering Limited******Scarpa & Colombo S.r.l, Italy******Enteprises which exercise significant influence over direct subsidiaryAny other transactionSale Commission Paid/payable20000000Within Limit796000015400006630000Varroc Engineering Limited******Varroc Italy S.p.A.******Step down subsidiaryAny other transactionAdmin Charges Paid20000000Within Limit485000053800005180000Varroc Engineering Limited******Varroc Intelligent Driving R&D Center (Changzhou) Co., Ltd.******Step down subsidiaryAny other transactionCorporate guarantees20000000Within Limit1043000000Varroc Engineering Limited******Mr. Akshaykumar Narendrasinhji Chudasam******Independent DirectorAny other transactionDirectors sitting fees0NA1100000090000Varroc Engineering Limited******Mrs. Leselott Kilaas******Independent DirectorAny other transactionDirectors sitting fees0NA17000000400000Varroc Engineering Limited******Mrs. Leselott Kilaas******Independent DirectorAny other transactionProfessional charges /Commission Paid/PayableNA190000001900000Varroc Engineering Limited******Mr. Akshaykumar Narendrasinhji Chudasam******Independent DirectorAny other transactionProfessional charges /Commission Paid/PayableNA182000001820000Varroc Engineering Limited******Mr. Padmanabh Sinha******Independent DirectorAny other transactionProfessional charges /Commission Paid/PayableNA232000002320000Varroc Engineering Limited******Mr. Avinash Chintawar******Whole Time Director and COORemunerationNA937000000Durovalves India Private Limited******Scarpa & Colombo S.r.L, Italy******Enteprises which exercise significant influence over the companySale of goods or services300000000Within Limit342700008351000040560000Durovalves India Private Limited******Freccia International S.r.L, Italy******Enteprises which exercise significant influence over the companySale of goods or services150000000Within Limit91000000Durovalves India Private Limited******Varroc Connect Private Limited******Fellow subsidiaryPurchase of goods or services1000000Within Limit10000020000Durovalves India Private Limited******Scarpa & Colombo S.r.L, Italy******Enteprises which exercise significant influence over the companyAny other transactionReimbursement of expenses (paid/ payable)20000000Within Limit61600007000006600000Durovalves India Private Limited******Freccia International S.r.L, Italy******Enteprises which exercise significant influence over the companyAny other transactionReimbursement of expenses (paid/ payable)1000000Within Limit1000000Durovalves India Private Limited******Scarpa & Colombo Srl - Italy******Enteprises which exercise significant influence over the companyAny other transactionSale Commission Paid/payable5000000Within Limit200000790000990000Industria Meccanica E Stampaggio S.p.a.******VarrocCorp Holding B.V., The Netherlands******Sister Concern of Holding CompanyInterest paid50000000Within Limit110700007345000088470000Industria Meccanica E Stampaggio S.p.a.******VarrocCorp Holding B.V., The Netherlands******Sister Concern of Holding CompanyLoan200000000Within Limit65380000389890000474000000Industria Meccanica E Stampaggio S.p.a.******Nuova CTS S.r.l, Italy******Jointly Controlled EntitiesPurchase of goods or services0NA1152800001584000022540000VarrocCorp Holding B.V., The Netherlands******Varroc European Holding B.V.,The Netherlands******Fellow subsidiaryInterest received250000000Within Limit81110000822130000945470000VarrocCorp Holding B.V., The Netherlands******Varroc European Holding B.V.,The Netherlands******Fellow subsidiaryLoan500000000Within Limit11550000031461300003412900000VarrocCorp Holding B.V., The Netherlands******Varroc Romania S.A.******Step down subsidiaryInterest received5000000Within Limit9100003900001360000VarrocCorp Holding B.V., The Netherlands******Varroc Romania S.A.******Step down subsidiaryAny other transactionTrade Receivable0NA0122710000127000000VarrocCorp Holding B.V., The Netherlands******Varroc Romania S.A.******Step down subsidiaryAny other transactionTrade Payable0NA05961000060790000VarrocCorp Holding B.V., The Netherlands******Varroc Romania S.A.******Step down subsidiaryLoan30000000Within Limit544900002079000076280000VarrocCorp Holding B.V., The Netherlands******Varroc Electronics Romania S.r.l.******Direct SubsidiaryInterest received60000000Within Limit100400001821000029530000VarrocCorp Holding B.V., The Netherlands******Varroc Electronics Romania S.r.l.******Direct SubsidiaryLoan500000000Within Limit0431480000452230000Varroc Germany GmBH******VarrocCorp Holding B.V., The Netherlands******Holding CompanyInterest paid25000000Within Limit9310000438000014240000Varroc Germany GmBH******VarrocCorp Holding B.V., The Netherlands******Holding CompanyLoan170000000Within Limit14090000277110000367950000Varroc Italy S.p.A.******VarrocCorp Holding B.V., The Netherlands******Holding CompanyInterest paid13000000Within Limit192000014700003540000Varroc Italy S.p.A.******VarrocCorp Holding B.V., The Netherlands******Holding CompanyAny other transactionInterest Receivable0NA026900002820000Varroc Italy S.p.A.******VarrocCorp Holding B.V., The Netherlands******Holding CompanyLoan100000000Within Limit08318000087180000Varroc (Thailand) Co. Ltd.******VarrocCorp Holding B.V., The Netherlands******Holding CompanyInterest paid30000000Within Limit654000017500008700000Varroc (Thailand) Co. Ltd.******VarrocCorp Holding B.V., The Netherlands******Holding CompanyLoan500000000Within Limit19110000212980000458580000Varroc Poland s.p.z.oo******VarrocCorp Holding B.V., The Netherlands******Holding CompanyLoan300000000Within Limit2495400000249540000Varroc Poland s.p.z.oo******VarrocCorp Holding B.V., The Netherlands******Holding CompanyInterest paid30000000Within Limit1028000003650000Varroc Intelligent Driving R&D Center (Changzhou) Co., Ltd.******Varroc (Thailand) Co. Ltd.******Fellow SubsidiarySale of goods or services150000000Within Limit338000029500007600000Varroc Italy S.p.A.******Varroc Japan Co. Ltd******Sister Concern of Holding CompanySale of goods or services60000000Within Limit123000012200000Varroc Italy S.p.A.******Varroc Romania S.A.******Direct SubsidiaryInterest received50000000Within Limit166400009306000018410000Varroc Italy S.p.A.******Varroc Romania S.A.******Direct SubsidiarySale of goods or services50000000Within Limit1382000012800006870000Varroc Italy S.p.A.******Varroc Romania S.A.******Direct SubsidiaryPurchase of goods or services650000000Within Limit1433400004274000082850000Varroc Italy S.p.A.******Varroc Romania S.A.******Direct SubsidiaryAny other transactionReimbursement of Expense Paid/Payable75000000Within Limit194000000Varroc Italy S.p.A.******Varroc Romania S.A.******Direct SubsidiaryLoan200000000Within Limit0433730000454590000Varroc Italy S.p.A.******Varroc Electronics Romania S.r.l.******Fellow subsidiaryAny other transactionReimbursement of Expense Paid/Payable75000000Within Limit128800003391000048640000Varroc Italy S.p.A.******Varroc Electronics Romania S.r.l.******Fellow subsidiarySale of goods or services50000000Within Limit33300002077000026680000Varroc Italy S.p.A.******Varroc Vietnam Co. Ltd.******Direct SubsidiarySale of goods or services60000000Within Limit212400001194000011830000Varroc Italy S.p.A.******Varroc Vietnam Co. Ltd.******Direct SubsidiaryAny other transactionRoyalty Received50000000Within Limit931000000Varroc Italy S.p.A.******Varroc Vietnam Co. Ltd.******Direct SubsidiaryPurchase of goods or services100000000Within Limit47900008300005460000Varroc Romania S.A.******Varroc Electronics Romania S.r.l.******Sister Concern of Holding CompanyInterest received50000000Within Limit1787000010499000018590000Varroc Romania S.A.******Varroc Electronics Romania S.r.l.******Sister Concern of Holding CompanyAny other transactionReimbursement of expenses (Received/ Receivable)15000000Within Limit394000000Varroc Romania S.A.******Varroc Electronics Romania S.r.l.******Sister Concern of Holding CompanyLoan100000000Within Limit0291120000305120000Varroc Romania S.A.******Varroc Electronics Romania S.r.l.******Sister Concern of Holding CompanyAny other transactionTrade Payable0NA017400002500000Varroc Romania S.A.******Varroc Vietnam Co. Ltd.******Fellow subsidiaryAny other transactionReimbursement of expenses (Received/ Receivable)75000000Within Limit156000000Varroc Romania S.A.******Varroc Vietnam Co. Ltd.******Fellow subsidiarySale of goods or services100000000Within Limit900002500001130000Varroc Vietnam Co. Ltd.******Varroc Electronics Romania S.r.l.******Sister Concern of Holding CompanyAny other transactionReimbursement of expenses (Paid/ Payable)30000000Within Limit105700001700000Varroc Poland s.p.z.oo******Varroc Electronics Romania S.r.l.******Fellow subsidiaryAny other transactionAccount Receivable0NA02381000024840000Varroc Romania S.A.******Varroc Electronics Romania S.r.l.******Sister Concern of Holding CompanySale of goods or services150000000Within Limit106100003206000042730000Varroc Vietnam Co. Ltd.******Varroc Electronics Romania S.r.l.******Sister Concern of Holding CompanyAny other transactionTrade PayableWithin Limit004040000Varroc Romania S.A.******Varroc Vietnam Co. Ltd.******Fellow subsidiaryPurchase of goods or services50000000Within Limit1800000440000Industria Meccanica E Stampaggio S.p.a.******Nuova CTS S.r.l, Italy******Jointly Controlled EntitiesSale of goods or services0NA734000001860000Industria Meccanica E Stampaggio S.p.a.******Nuova CTS S.r.l, Italy******Jointly Controlled EntitiesDividend received0NA1090000000Industria Meccanica E Stampaggio S.p.a.******Varroc European Holding B.V.,The Netherlands******Holding CompanyInterest paid0NA176900000289880000Industria Meccanica E Stampaggio S.p.a.******Varroc European Holding B.V.,The Netherlands******Holding CompanyLoan0NA00184980000Industria Meccanica E Stampaggio S.p.a.******Varroc European Holding B.V.,The Netherlands******Holding CompanyAny other transactionTrade Payable0NA0018950000Varroc Japan Co. Limited******Varroc Vietnam Co. Ltd.******Subsidiary of fellow subsidiarySale of goods or services0NA70000002668300000AuditedQualified opinionS R B C & CO LLPtrue2029-02-288157890000007682882000002881930000018.860459863300000253349200000206514100000Following qualification has been given by the Auditors in the audit report on Standalone financial statements of the Company: <br></br> <br></br> The Company received a settlement offer from Beste Motor Co. Ltd. and TYC Brother Industrial Co. Ltd. ("TYC Parties") alleging breach of Transition Management Agreement ('TMA' or 'agreement') in respect of certain income amounting to Rs. 209.89 million recognized by the Company under 'Revenue from operations' during the year ended March 31, 2026, as received from Chongqing Varroc TYC Auto Lamps Co., Ltd. (erstwhile joint venture). Subsequently, the Company also received a 'Statement of Claim' under the arbitration proceedings with TYC Parties on the aforesaid matter and on certain additional claims/breaches under the aforesaid TMA against which the Company has filed Statement of defence in March 2026. <br></br> Pending disposal of the arbitration proceedings and in the absence of sufficient appropriate audit evidence, we are unable to comment on the said income recognized in the books and consequential impact including of the additional claims/breaches, if any, on the profit before tax, tax expense, profit after tax, total comprehensive income and earnings per share for the year ended March 31, 2026 and retained earnings as at March 31, 2026. <br></br> Qualified opinionWhether appeared first timenot applicablenot applicableThe Company has strong belief that the income recognized in the books have been received based on valid agreement(s) entered into between the parties and necessary services have been availed by overseas entities. <br></br> <br></br> The Company believes that it has a strong case and will take appropriate actions, including filing of counter claims, as necessary to protect its interests. <br></br> Pending disposal of the arbitration proceedings, the Company is unable to determine the possible impact of this matter. <br></br> As explained to us by the management, the Company is contesting all the claims by TYC Parties under the arbitration proceedings. Pending disposal of such arbitration proceedings, the Company is unable to determine the possible impact of the matter on the profit before tax, tax expense, profit after tax, total comprehensive income and earnings per share for the year ended March 31, 2026 and retained earnings as at March 31, 2026.Mr. Tarang JainMr. K Mahendra KumarMr. Vinish KathuriaMr. Mustafa SaleemPune2026-05-27