Varroc Engineering Limited , a leading auto components manufacturer, has successfully issued and allotted commercial paper worth Rs. 50 crores to Kotak Mahindra Bank Limited. The company has informed the stock exchanges about this strategic financial move under Regulation 30 of SEBI Listing Regulations.

Updated Commercial Paper Details

The latest issuance comes with revised terms compared to earlier announcements:

Key Transaction Features

The commercial paper has been issued at an improved discount rate of 6.70%, down from the previously indicated 6.90%. The significantly shorter tenure of 26 days, compared to the earlier 90-day period, reflects the company's refined approach to short-term liquidity management.

Regulatory Compliance and Listing

Varroc Engineering has appointed ICICI Bank Limited as the Issuing and Paying Agent (IPA) for this commercial paper. The company is currently in the process of listing the commercial paper on the National Stock Exchange of India Limited and is awaiting listing approval.

Strategic Financial Management

This issuance demonstrates Varroc Engineering's continued focus on optimizing its capital structure through diversified funding sources. The commercial paper market provides the company with cost-effective short-term financing options to support its operational requirements.

Company Performance Highlights

Varroc Engineering has maintained strong financial performance with consolidated revenue of Rs. 81,541.00 million, representing 8.0% growth. The Indian business segment showed robust growth of around 10.4%, while the company generated free cash flow of Rs. 3,116.00 million, equivalent to 3.8% of sales.

Business Focus Areas

As a global tier-1 automotive component manufacturer headquartered in Aurangabad, Maharashtra, Varroc Engineering specializes in exterior lighting systems, plastic and polymer components, electrical-electronics components, and precision metallic components. The company continues to focus on emerging automotive trends including EV penetration, premiumization, electronics integration, and advanced lighting technologies to drive future growth.

Varroc Engineering Limited , a global tier-1 automotive component group, has officially concluded the postal ballot process for appointing Mr. Avinash Ramdas Chintawar as Additional Director and Whole Time Director. The company filed the results with stock exchanges under Regulation 30 of SEBI Listing Regulations on December 13, 2025.

Postal Ballot Results

The postal ballot process concluded on December 13, 2025, with exceptional shareholder support for Mr. Chintawar's appointment. The voting was conducted exclusively through remote e-voting facility provided by National Securities Depository Limited (NSDL).

Regulatory Compliance and Process

The company complied with all regulatory requirements under Section 110 of the Companies Act, 2013, and SEBI Listing Regulations. M/s. Uma Lodha & Co., Practicing Company Secretaries, Mumbai served as the scrutinizer for the postal ballot process. The remote e-voting period commenced on November 14, 2025, at 09:00 A.M. and concluded on December 13, 2025, at 05:00 P.M.

Appointment Details and Remuneration Structure

Mr. Chintawar's appointment as Additional Director (Executive, Non-independent) is valid until the next Annual General Meeting or until regularized by shareholders. His role as Whole Time Director spans three years from November 12, 2025, to November 11, 2028, now secured with shareholder approval.

Professional Background

Mr. Chintawar brings over four decades of distinguished leadership experience in the automotive and manufacturing sectors. Prior to joining Varroc Engineering, he served as Managing Director of Bosch Chassis Systems India Pvt. Ltd. from November 2018 to August 2025 and as Chairman of Bosch India Foundation from 2022 to 2025.

Career Highlights

Throughout his career, Mr. Chintawar has demonstrated strategic foresight and operational excellence:

• Enabled transition from Euro I to Euro VI emission norms in India by establishing advanced injector manufacturing capabilities
• Led multiple international projects, including setting up India's largest Export Oriented Unit (EOU)
• Pioneered road safety advancements through large-scale manufacturing of ABS and ESP systems
• Promoted green energy initiatives, including commissioning a 16MW solar power plant at Bosch's Nashik facility

Board Composition

With Mr. Chintawar's appointment now approved, Varroc Engineering's Board comprises eight members, including three Whole Time Directors and three Independent Directors. This strategic appointment strengthens the company's leadership team as it continues navigating the evolving automotive landscape and driving sector innovation.