Varroc Engineering Limited , a global tier-1 automotive component group, has announced a significant addition to its leadership team. The company's Board of Directors has appointed Mr. Avinash Ramdas Chintawar as an Additional Director and Whole Time Director, effective November 12, 2025. This strategic move aims to strengthen Varroc's executive leadership and drive future growth initiatives.

Appointment Details

Mr. Chintawar's appointment as an Additional Director (Executive, Non-independent) is valid until the next Annual General Meeting or until his appointment is regularized by shareholders through a postal ballot, whichever is earlier. His role as Whole Time Director is set for a three-year term, subject to 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, operational excellence, and a strong commitment to innovation and sustainability. His notable achievements include:

• Enabling the transition from Euro I to Euro VI emission norms in India by establishing advanced injector manufacturing capabilities
• Leading multiple international projects, including setting up India's largest Export Oriented Unit (EOU) and relocating several global products to India for export markets
• Pioneering road safety advancements through large-scale manufacturing of ABS and ESP systems for passenger vehicles and motorcycles
• Promoting green energy initiatives, including commissioning a 16MW solar power plant at Bosch's Nashik facility

Educational Background

Mr. Chintawar holds a Bachelor's degree in Engineering from Visvesvaraya National Institute of Technology (VNIT), a Postgraduate Diploma in Management from IGNOU, and has completed the ICWA (Inter) qualification.

Board Composition

With Mr. Chintawar's appointment, Varroc Engineering's Board of Directors now comprises eight members, including three Whole Time Directors and three Independent Directors, ensuring a balanced mix of executive and non-executive leadership.

Regulatory Compliance

In compliance with SEBI regulations, Varroc Engineering has confirmed that Mr. Chintawar is not debarred from holding the office of Director by virtue of any SEBI order or any other similar authority. The company has also initiated a postal ballot process to seek shareholder approval for this appointment.

This strategic appointment underscores Varroc Engineering's commitment to strengthening its leadership team with experienced industry professionals as it continues to navigate the evolving automotive landscape and drive innovation in the sector.

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.