VARROC Q1 FY27 Guidance vs Delivery (VARROC Management Mirror)

FY27 Revenue Guidance Upgraded to 20-25% Following Robust Q1 FY27 Growth of 29.9%

In the Dec'25 Qtr concall, management maintained a medium-term revenue growth target of 15% to 20%, aiming to outpace the underlying automotive market growth by 4% to 5%. During the Mar'26 Qtr concall, they reaffirmed expectations for mid-to-high teen revenue growth for FY27, driven by order book execution. In the Jun'26 Qtr results, consolidated revenue was reported at INR 26,342 million for Q1 FY27, a 29.9% YoY growth (with a 4% deflation-related impact if eliminated). Subsequently, in the Jun'26 Qtr concall, management upgraded its FY27 revenue growth guidance to a range of 20% to 25% (previously guided mid-to-high teens), driven by strong demand.