a global tier-I auto component group, announced the joining
of K Mahendra Kumar as the Group’s Chief Financial Officer
today. He joins Varroc Group from Tube Investments of India
Ltd where he was an Executive Vice President and Chief
Financial Officer for over five years.
global tier-I auto-components group, today announced its
results for the quarter ended June 30, 2022.
global tier-I auto component group, today announced its
results for the quarter ended March 31, 2022.
Limited (VEL), India’s leading automobile component company,
has signed a Securities Purchase Agreement (SPA) with
Compagnie Plastic Omnium SE of France to divest its
4-wheeler lighting systems operations in the Americas and
Media Coverage – CSR of Varroc Engineering: Rejuvenating
the Kham river to build a sustainable environment in
Media Coverage – Interview with Arjun Jain, President,
Electrical & Electronics Business Division, Varroc
(Varroc), a global tier-I auto component group, today
announced its results for the first quarter ended June 30,
2018 (Q1 FY19).
in sales last year, but Managing Director Tarang Jain
refuses to rest on his laurels. For him, the journey is only
as we saw signs of a sustainable revival in demand for the
first time in 5 years.” says Tarang Jain, Managing Director,
this interaction with Maria Jerin, discusses the challenges
to be addressed and the opportunities to be leveraged in
the Indian forging industry.
in sales last year, but Managing Director Tarang Jain
refuses to rest on his laurels. For him, the journey is only
representatives in the Automotive Industry
solutions Varroc Group, which is headquartered in
Aurangabad, aims to further drive penetration of LED
lighting technologies in the global vehicle population.
‘We’re looking at future products like security systems
(electrical and electronics) which will see good demand in
the coming times.’
joined Varroc Group in 2012 and since then has been
successfully spearheading the Group’s foray into next
Varroc announces Technical Collaboration with UK based
Scorpion Automotive Pvt. Ltd.
the Indian automobile industry especially the Two Wheeler
segment – 21 January 2015
Pune, January 20, 2015: Varroc Engineering Pvt. Ltd., the
flagship company of Varroc Group, India’s leading auto
component manufacturer, today announced a technical
collaboration with Scorpion Automotive Pvt. Ltd, UK’s
trusted brand in vehicle securities, to provide security
based products and marketing solutions to the automotive
industry, especially the two-wheeler segment in India.
Dr. Ravi Damodaran, President, Technology & Strategy,
Varroc Group, signed an MOU on the technical collaboration
with Mark Downing, MD Scorpion Automotive Pvt. Ltd. in the
presence of Mr. Kumar Iyer, British Deputy High
Commissioner, Western India &Director General, India,
for UK Trade & Investment (UKTI).Mr. Ravinder Sharma,
Vice President, Varroc Engineering Pvt. Ltd.was also
present on the occasion.
Varroc Engineering Pvt. Ltd, India and Scorpion Auto, UK
have signed a technology license agreement to exclusively
design, manufacture and sell to 2W and 4W OEMs in India.
The collaboration also provides the exclusive rights to
Varroc Engineering to manufacture the licensed security
products for their global markets. The collaboration will
not only help Scorpion Automotive Pvt Ltd to expand its
portfolio but will also introduce innovative products for
the Two Wheeler sector in the Indian Automotive Industry.
This collaboration was assisted by UK Trade &
Investment (UKTI), which worked with Scorpion Automotive
UK for three years, including advising on strategy for
market entry into India, and assisting with identifying a
Speaking on the occasion, Dr. Ravi Damodaran, President,
Technology & Strategy Varroc Group said: “Varroc Group
is glad to join hands with Scorpion Automotive Pvt Ltd
with a view to introduce innovative products for
two-wheeler segment in the Indian market. We have strong
relationship with OEMs in India and this partnership will
help us enhance our already diverse product portfolio for
them. The need for security systems has not been
appropriately addressed in this market for a long time;
and Varroc together with Scorpion Automotive intends to
address this gap with these pioneering products, which
will further strengthen our market share. Scorpion
Automotive’s technologically advanced products would
complement Varroc’s best cost manufacturing, enabling us
to offer robust designs and high quality to our customers.
I am confident that this partnership will bring tremendous
value to all customers.”
Varroc and Scorpion Automotive will introduce the first of
its kind products like Alarms, Immobilisers, Heated Grips,
Throttle Locks, Smart Chargers and Vehicle tracking
devices in the Indian Automotive market. Varroc Group is
the pioneer of these security auto products in the Indian
Mark Downing, Managing Director, Scorpion Automotive Pvt
Ltd said; “This is a very exciting time for Scorpion
Automotive with several new products coming to the market,
we see our strategic partnership with Varroc as a very
good fit for us as we look to grow the sales of our
products worldwide. Varroc is technically and
operationally well equipped to manufacture the products
licensed through Scorpion Auto. The company has a very
strong hold in the Auto market and we are pleased to be
working with them as partners. The collaboration will be
mutually beneficial and will contribute the overall growth
of the Auto sector.”
These products are applicable to all two-wheeler segments,
and specially designed to be robust to our market
conditions and offer a viable alternative to the low value
products being available in the grey market. Varroc Group
and Scorpion Automotive Pvt Ltd foresee a strong market
share in the auto sector by signing up with major players
like Hero, Yamaha, Kawasaki, Harley Davidson &Bajaj
Mr. Kumar Iyer, British Deputy High Commissioner, Director
General, United Kingdom Trade & Investment (UKTI)
said: “I am delighted that UKTI has been so closely
involved in this partnership between Scorpion Automotive
and Varroc, both leaders in their fields in UK and India.
Today’s signing exemplifies the work that UKTI seeks to do
in India – identifying and assisting business
collaborations between our two countries. Prime Ministers
David Cameron and Narendra Modi recently supported the
launch of our GREAT Collaborations campaign to celebrate
tie-ups between the UK and India. In Prime Minister Modi’s
words, the UK and India are an “unbeatable combination”.
Varroc and Scorpion are a great example of such a GREAT
About Varroc Group:
Varroc Group is today one of the most diversified
suppliers in the Indian auto component industry with
capabilities of Full-Service Supplier in Plastic Moulded
Modules, Machined Forgings & Auto Electrical
commodities. The Group provides customers with
unparalleled manufacturing reach and ability coupled with
solution-based, innovative approach built on stringent
best practices with a commitment to the success of
customers in the global marketplace.
Varroc’s modern and innovative manufacturing capabilities
ensure quality and cost-efficient production and make an
important contribution in the overall performance of the
About Scorpion Automotive Pvt Ltd:
Scorpion Automotive a trusted brand established in vehicle
security since 1973 and has won many awards, with the
headquarters in the UK, Scorpion has now established its
subsidiary office in Pune India. Scorpion’s UK in-house
team design hardware and software in accordance with
TS16949 standards, allowing rapid concept to prototype
development. Small or large volume manufacture is carried
out in our modern state of the art SMT manufacturing
facility, complete with automatic optical inspection and
in circuit testing.
About UKTI: UKTI is the UK government arm, which helps UK
companies trade internationally and attracts best quality
investment into the UK
For Further contact: Mona Pandit: 9860082449,
email@example.com Tanmaya Vyas: 9922112269,
Varroc Group of Companies, believes that to stay
competitive, a company needs to achieve a certain scale for
introducing better technologies.
VARROC GROUP – System supplier bets big on technology,
diverse product portfolio and global customer base
Varroc Group concludes the acquisition of Visteon TYC
Corporation in China
their acquisition of the Visteon equity interest in its
China-based lighting Joint venture, Visteon TYC Auto Lamps
Co., Ltd. TYC Brothers Ltd of Taiwan will remain the 50%
partner in the new entity, named Varroc TYC Auto Lamps Co.,
Mr. Tarang Jain, Managing Director, Varroc Group speaking
about the new venture said, “I am pleased with the
acquisition completion. The transaction completes an
important step in our strategic plan to focus on our core
businesses and expand our footprint into China, the
world’s largest automotive market.”
Varroc Group’s China entity will be part of Varroc
Lighting Systems which was recently formed after Varroc
Group’s acquisition of Visteon’s global automotive
lighting business. This purchase price for an equity stake
of VTYC, on a cash and debt-free basis, was approx. US$20
million. The deal includes manufacturing and engineering
facilities in Changzhou and Chongqing.
The sales revenue in 2012 for the China operations were
USD $130 million, encompassing a wide range of exterior
lighting products supplied to global vehicle
manufacturers, including front and rear lighting systems.
In total, about 1450 manufacturing, engineering and
administrative employees are part of China operations.
About Varroc Varroc Lighting Systems,
registered in the Netherlands, headquartered in Plymouth,
Michigan, USA, is a wholly-owned entity within the Varroc
Group. Varroc Lighting Systems is a global leader in
automotive exterior lighting products. Varroc Group is
based in Aurangabad, India, and is comprised of polymer,
electrical and electronics, and metallic divisions
providing full design, development and manufacturing.
Varroc Group has approximately 9,500 employees with over
30 manufacturing plants in Asia, Europe and the Americas.
About TYC Brothers Ltd. TYC offers the
widest selection of automotive lighting available from a
single source as well as other automotive collision parts
traded by TYC. In addition to the ISO14001, ISO 19001 and
ISO/TS16949 quality certification, TYC also has Ford Q1
preferred quality status and has been approved as a full
participant of CAPA parts certification program for North
America since July 2006. TYC lighting products are
designed in house by a team of Research and Development
engineers engaged that embraces, among other areas of
research; optics, design, tooling, regulatory standards,
quality validation and assurance.
Varroc Lighting Systems
components company is pleased to announce that it has
completed the acquisition of the global Lighting business of
Visteon Corporation; a U.S. based global auto components
major. The new business will be called Varroc Lighting
Systems and will continue to be led by Jeff Stevenson,
located in Van Buren, Michigan, U.S.A. Jeff will report to
the newly constituted board of Varroc Lighting Systems.
Varroc Lighting Systems (VLS) will comprise of the
manufacturing operations in Apodaca, Mexico, Novy Jicin
and Rychvald, Czech Republic, and in Pune, India, besides
the engineering centres and associated units in Europe,
U.S.A. and India. All of the approximately 4200 employees
including 400 engineers from the lighting business will
join the Varroc Group. Varroc continues to work
aggressively to secure Visteon’s fifty percent share in
their China JV with Taiwanese partner, TYC, which will be
part of a separate deal.
Varroc will make a seamless transition to Varroc Lighting
Systems, ensuring minimum disturbances to all our partners
and uninterrupted supply to our customers. We have ensured
that the same management team that led the erstwhile
Visteon Lighting System, is in place to steer Varroc
Lighting Systems on a clear path of growth, profitability
and stability for the global lighting business.
Varroc has put aggressive plans for growth in all the
major automotive regions of the world as all of our
manufacturing footprints and major engineering centres are
in low cost countries. The European operations continue to
perform well in spite of a difficult economic situation in
the region. Along with expanding in global emerging
markets, Varroc will also devote attention to the growing
North American and India markets, where we are favourably
positioned with well established lean manufacturing
capabilities and capacities out of Apodaca, Mexico and
Pune, India respectively.
These teams are solidly backed up by world-class
engineering centres based in the Czech Republic and
Germany, close to the customers to support their growth
With this acquisition, Varroc will combine the benefits of
management teams capable of driving growth globally as
well as maintaining lean and agile manufacturing and
engineering factories. We believe that the sincerity with
which we understand customer needs and the speed with
which we respond will be the value proposition to our
customers in advanced markets, while to our customers in
the growing markets it would be our world class technology
offerings from a low cost manufacturing footprint.
manufacturer, opened its 8th Polymer plant in India at
Pithampur, Madhya Pradesh, in Central India. The plant was
inaugurated by the chief guest, Mr. Vinod Aggarwal, Chief
Executive Officer, Volvo Eicher Commercial Vehicles in the
presence of Tarang Jain, Managing Director, Varroc Group,
Mr. N. Ramanathan, President, Varroc Polymers and other top
management officials of Varroc Polymers.
Varroc plants received “Manufacturing Excellence
Certification” by Economic times in collaboration with Frost
practices that lead to higher levels of customer
satisfaction and return on total assets. With a mission “to
recognize the Indian manufacturing capability and assess its
global competitiveness,” Indian Manufacturing Excellence
Awards (IMEA) has a robust, highly acclaimed and constantly
updated assessment process in place derived from the best
global manufacturing practices.
Being the only one of its kind in India, IMEA has, over
the years, increasingly received the reputation of being
an independent, unbiased and credible evaluation of supply
chain efficiencies with respect to their leanness and
Each year, Frost & Sullivan, the assessors for The
Economic Times, conduct the country’s largest on-site
audit of manufacturing practices and present the India
Manufacturing Excellence Award to recognize and applaud
efforts of manufacturing companies toward achieving
excellent-to-world-class manufacturing status.
Over 100 companies participated in this evaluation
process, and we are among the few who have been awarded
this honour. Varroc facilities had been subject to an
extensive audit by external assessors from Frost &
Sullivan. Over three days assessors evaluated and
identified best practices at 4 of Varroc facilities in
Pune, Aurangabad and Pantnagar.
This award is recognition and acknowledgement of Varroc’s
high standards in terms of its manufacturing practices,
quality, regulatory approvals and significant investment
on its state-of-the-art R&D centre, well equipped
manufacturing facilities and the infrastructure. It is an
endorsement for its consistent endeavour in building and
making world class manufacturing facilities. “As we strive
to serve our customers on a global scale, the
responsiveness, commitment, and passion for excellence
demonstrated by the plant’s team continue to produce
positive results” corroborate by Mr. Tarang Jain, MD
Auto parts maker Varroc buys 80% in Italian headlight firm
component maker Varroc Group has acquired 80% stake in
Europe’s largest two-wheeler headlights and tail lights
maker Tri.O.M SPA for an undisclosed amount, said two people
familiar with the development.
When contacted by ET, Varroc MD Tarang Jain confirmed the
acquisition. However, he refused to disclose the ticket
size of the deal, as the transaction is still subject to
regulatory approvals in Italy.
“This acquisition helps us in two ways; it strengthens our
technology and widens our product portfolio. It also
allows a bigger global reach,” said Jain.
“Tri.O.M’s plan to set up a plant in Vietnam will give us
a big gateway to reach out to the fast-growing Southeast
Asian markets, which is our big focus going ahead,” he
Varroc Group’s top management, including CFO Mr. B.
Padmanabhan, corporate legal head Mr. Sanjay Sachdev and
Varroc Electrical President Mr. Vineet Sahni, are
currently in Italy to finalise the deal.
Italy-based TriOM is a supplier to leading global
automobile companies, including Piaggio, Honda, Yamaha and
Ducati, with nearly 55% market share in Europe. It has two
plants – one in Turin in Italy and other in Romania. The
company is setting up a plant in Vietnam to cater to the
fast-growing two-wheeler market in the Asian region.
Varroc Group, which has Maruti Suzuki, Tata Motors,
Mahindra & Mahindra, Volkswagen and Bajaj Auto among
its clientele, had appointed Ernst & Young for the
The entire transaction took two months to complete.
Through this acquisition, the Rs 3,000-crore Varroc Group
will be able to penetrate switches, instrument clusters
and electronic parts segments for two-wheelers in Europe
and Southeast Asia.
“The acquisition will add approximately 20 million to
Varroc’s top line. It’s a strategic acquisition from
Varroc Electrical’s global expansion perspective,” said
Mr. Vineet Sahni, President, Varroc Electrical.
Varroc Group has been growing at a CAGR of 20% in the last
4-5 years. The Group is aiming for a turnover of Rs 5,000
crore by 2013-14, a growth of more than 60%, with joint
ventures and acquisitions as major drivers.
The company said Tri.O.M is a profit-making company, but
there are other attractive buys it may look at in Europe.
The group has already set aside $100 million for
acquisition over the next one year.
“We are in talks with some European players in the area of
forgings and machining and we are looking at an
acquisition in electrical and electronic space which
offers us a strong technology,” Jain said.
Experts said with Europe going through one of its worst
crisis, there are ample acquisition opportunities, but at
the same time, it will be a challenge for buyers to draw
their business plans.
“It is a good opportunity for healthy auto component
companies to look for acquisitions in Europe, especially
for technology. But they need to have a plan in place to
keep the business profitable and sustainable over a period
a time. The key may lie in expanding geographies and
integrating operations with India to keep the cost low,”
said Abdul Majeed, partner, automotive practice, Price
2011 at Aamby Valley City. The Meet was divided in two days,
the first day comprising of the Gala function and Business
Conference on the second day. Entertainment in the form of
Rock Show, Laser Show and the Fire Act was arranged in the
gala function. Main attraction of the evening was the Varroc
Story depicting the exponential growth of Varroc by Lasers
in the most captivating way.
their kitty. This time the Group is adding 6 Cylinder Crank
Shaft suitable for Heavy Commercial Vehicle. The
groundbreaking ceremony of this significant project was
graced by first generation entrepreneur Mr. Tarang Jain; the
Managing Director, Varroc Group. This new plant is located
in Waluj, Aurangabad, Maharashtra.
Tarang Jain, MD, Varroc Group, Mr. Marc Szulewicz, President
Plastic Omnium Auto Exterior along with Customer dignitaries
inaugurated the manufacturing facility of Plastic Omnium
Varroc Pvt. Ltd. at Chakan, Pune on 1st September 2010.
Plastic Omnium Varroc is a Joint venture of Plastic Omnium
Auto Exterior and Varroc Polymers for producing exterior
automobile parts in both thermoplastic and thermoset
Mr. Shashank Manohar, the BCCI president, inaugurated
Indoor Cricket Stadium at Varroc Vengsarkar Cricket Academy
Control for Cricket in India (BCCI) president Mr. Shashank
Manohar inaugurated the facility at PCMCS’ Varroc Vengsarkar
indoor cricket Academy at Thergaon, Pune dated 22nd
Aug’2010. Hence Varroc Vengsarkar Cricket Academy started
the indoor cricket academy to avoid player to stay away from
the game for four months.
Varroc nurtured the Chess Talent from regional to
Sponsored by Varroc Group from Last Two Years, became the
youngest Aurangabad among girls to capture the crown in a
meet of this magnitude. She not only became the Youngest
State Champion but also bagged some of the Internationals
Medals also. Recently in July’2010 she won the Gold Medal in
U-10 Girls Asian Youth Chess Championships held at Beijing,
The Varroc Group indeed feels proud to have played a
humble role in nurturing such a talent who has the
potential to be a Grand Master (GM) norm for India.
Varroc Group steps on the accelerator
Blood Donation Camp
Humans” Being a socially responsible organization, Varroc
Group joined hands with one of the Local Blood Banks and
took an initiative to organize a Blood Donation Camp which
was inaugurated by Mr. Tarang Jain- Managing Director,
Varroc Group amidst the presence of visiting doctors, donor
colleagues and Varroc Delegates at VEPL-II, Aurangabad on
20th March’2010. Our MD,Mr. Taranag Jain emphasized the
importance of blood donation and said that annually, Lacs of
people die in India because of want of blood at right time.
There are limited awareness and a lot of myths with respect
to blood donation among people. People should get aware and
understand that a little donation from their side translates
into saving of a precious life.
A team of 13 professionals of the Local Blood Bank, from
Aurangabad which conducted the program at VEPL-II,
Aurangabad Campus. The employees of Varroc and Business
Partners from Aurangabad region donated around 157 units
of blood in the program. The donors were also checked for
Hemoglobin count & Blood Sugar levels. Heavy
participation by such number of donors in the event
revealed the attainment of said objective and it is
encouraging points to the success of the camp. All those
who donated blood were awarded Certificates from the Blood
Bank. Looking at the pouring success of Camp, we will be
organizing such Camps in future also to serve mankind. We
thank all the participants for their overwhelming support
for such noble cause.
MD’s address to MBA students
interactive session with MBA students from PIRENS institute
on Tuesday the 9th March’10. The topic was “Globalization
& its Impact on SME Sector”. He mentioned in his
address, the emerging economy like India can grow equally to
other developed countries provided we can create the similar
kind of brainpower. The Indian companies are growing the
right way, having strong fundamentals & values and
eventually will emerge winners with a little more support
from the government.
He spoke about the Indian SMEs growth opportunities &
also about the threats from China. The Chinese component
suppliers have got good support from the Chinese Govt.;
wherein as per laid down policies the Global OEMs put up a
manufacturing footprint in China has to indigenous
components within the stipulated time period. In Indian
perspectives, the SMEs don’t have the similar leverage, no
major support from Indian Govt. As such the SMEs are
facing tough competition from Chinese suppliers. However,
he shared the assurance of change in sourcing scenario in
near future in India as well. The global OEMs start
recognizing the brain power and R&D strength of Indian
suppliers & focusing more on indigenous souring
efforts. The SMEs in India are gradually developing
themselves more on the technical front to improve their
He mentioned, India is like an elephant – strong, slow
& steady up to now but I think it will run now with
help from the government. An elephant with all its might
& running can beat the Chinese dragon.
He also shared, Varroc success mantra lies in its 8 points
priority program which includes Varroc Core Values;
Sincerity, Humility, Integrity, Passion & Self
Discipline. Varroc is concentrating on enhancing its
brainpower than the muscular power.
During Q&A sessions; while students were more curious
about their future, he mentioned them to concentrate on
their strong points & evaluate what they can give back
to the industry. Challenges are ahead but at the same time
no dearth of opportunities for the suitable candidate.
In his concluding comments to students; he mentioned, I
believe in the strength of my country and its people. I
believe that the future belongs to India. Let’s not defend
our past, instead attack the future.