Varroc Engineering Limited (VEL) has provided clarification to the Bombay Stock Exchange (BSE) regarding the redemption process of its Non-Convertible Debentures (NCDs) with ISIN INE665L07040. The company's response addresses concerns about the structure and schedule of NCD redemptions, emphasizing a partial face value reduction approach rather than early full redemption.

Key Points of Clarification

• Redemption Method: VEL confirmed that the redemption occurs through partial reductions in face value per NCD on scheduled record dates, as outlined in the original issuance terms.
• NCD Count: The number of NCDs remains constant at 25,000 units since allotment.
• Face Value Changes: The original face value of Rs. 1,00,000 per NCD is being reduced in stages according to the redemption schedule.

Recent Redemption Details

Following the most recent partial redemption on September 7, 2025, the NCD structure stands as follows:

Important Notes

• The final maturity date for these NCDs remains September 7, 2028.
• Interest payments continue on the outstanding face value as per the original schedule.
• This clarification comes in response to a BSE inquiry dated October 30, 2025, regarding VEL's intimation submitted on November 10, 2023.

Implications for Investors

This clarification is crucial for investors and market participants to understand the exact nature of Varroc Engineering's NCD redemption process. It ensures transparency in the company's debt management strategy and helps prevent any misinterpretation of the redemption schedule.

Investors should note that while the face value of each NCD is reducing over time, the number of NCDs remains constant. This gradual reduction in face value aligns with the company's predetermined repayment schedule, allowing for a structured approach to debt repayment up to the final maturity date.

Investors are advised to keep track of such corporate actions and their potential impact on the overall investment landscape of Varroc Engineering Limited.

Varroc Engineering Limited, a global tier-1 automotive supplier, has announced a significant addition to its leadership team. Avinash Chintawar has been appointed as the Chief Operating Officer (COO) for Business I, effective October 15, 2025. This strategic move aims to enhance the company's operational efficiency and align with its long-term vision.

Key Appointment Details

Role and Responsibilities

Chintawar will oversee the Operations Vertical within Business I, with a focus on:

• Strengthening operational efficiencies
• Enhancing overall performance
• Ensuring alignment with Varroc's long-term strategic vision

Professional Background

Avinash Chintawar brings over four decades of experience in the automotive and manufacturing sectors. His impressive career history includes:

Educational Qualifications

Management Comments

Arjun Jain, Whole Time Director & CEO of Business I at Varroc, expressed confidence in the appointment, stating, "We are delighted to welcome Avinash to the Varroc leadership team. His extensive experience and deep understanding of achieving operational excellence align perfectly with our needs as we drive the next phase of our growth."

Chintawar himself commented on his new role, saying, "I am excited to join Varroc at a time when the industry is undergoing such dynamic change. I look forward to working closely with the team to enhance operational excellence and contribute to its vision of sustainable and future-ready growth."

Company Overview

Varroc Engineering Ltd, incorporated in 1988, is a global tier-1 automotive component group. The company specializes in:

• E-mobility solutions
• Body systems solutions
• Lighting solutions
• HMI solutions
• ICE powertrain
• Advanced electronics

Varroc serves leading OEMs worldwide, offering end-to-end capabilities across design, development, and manufacturing for various vehicle types. In the fiscal year 2025, the group reported an income of ₹81,718.00 million from continued operations.

This strategic appointment underscores Varroc's commitment to operational excellence and sustainable growth in the evolving global automotive landscape. As the industry faces dynamic changes, Chintawar's extensive experience and leadership are expected to play a crucial role in driving Varroc's future success.