Q3 2021 Varroc Engineering Ltd Earnings Call Transcript
Good evening, everyone. I am Tarang Jain, and I want to thank you for joining the Q3 FY '21 earnings call of Varroc Engineering Limited.
Let me start with the India business. The Q3 FY '21 witnessed a robust growth in the 2-wheeler and the passenger vehicle volumes in India. The Indian 2-wheeler volumes in Q3 were higher by almost 18% year-on-year, and the passenger vehicle were higher by 23%. Our revenue in India grew by 29% year-on-year. Our EBITDA in India grew by 49% year-on-year, and our margins continue to be strong at 13.3%.
I will now move to our global lighting business. The passenger vehicle volumes across major markets, including Europe and North America, were almost flat year-on-year. The Chinese passenger vehicle market grew 3% year-on-year. As against this, our global lighting business revenue grew by 9% in euro terms. However, the EBITDA margins in the lighting business declined sharply in the quarter due to a number of factors.
Most of the car manufacturers in Europe scaled up their
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
