Varroc Engineering Limited — Regulatory Filings 2021

Jun 16, 2021

Varroc Engineering Ltd.

Regd. & Corp. Office

L‐4, MIDC, Industrial Area Tel + 91 240 6653700 email : varroc.info@varroc.com Waluj, Aurangabad 431 136, Fax + 91 240 2564540 www.varroc.com Maharashtra, India CIN: L28920MH1988PLC047335

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VARROC/SE/INT/2021-22/14

June 16, 2021

To,

The Manager- Listing The Manager – Listing The Listing Department, The Corporate Relation National Stock Exchange of India Department, Limited Bombay Stock Exchange Limited Exchange Plaza, Plot No. C/1, Phiroze Jeejeebhoy Towers, G Block, Bandra-Kurla Complex, Dalal Street, Fort, Bandra (East), Mumbai-400051. Mumbai-400001. NSE Symbol: VARROC BSE Security Code: 541578

• Sub.: Disclosure of related party transactions for the financial year ended March 31, 2021

Ref.: Regulation 23(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations")

Pursuant to Regulation 23(9) of the Listing Regulations, we enclose herewith the disclosure of related party transactions on a consolidated basis, for the financial year ended on March 31, 2021, in the prescribed format specified in the relevant accounting standards.

The above disclosure is being uploaded on the website of the Company.

Kindly take the same on record and note the compliance.

For Varroc Engineering Limited

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Ajay Sharma Group General Counsel and Company Secretary

Encl: a/a

Annexure A

Varroc Engineering Limited

Notes to the Consolidated Financial Statements for the year ended March 31, 2021

Note 47 : Related Party Disclosure

• a. Related parties and their relationships

• 1 Jointly Controlled Entities

Nuova CTS S.R.L, Italy Varroc TYC Corporation, British Virgin Islands Varroc TYC Auto Lamps Co. Ltd., China (Subsidiary of Varroc TYC Corporation, BVI) Varroc TYC Auto Lamps Co. Ltd. CQ, China (Subsidiary of Varroc TYC Auto Lamps Co. Ltd., China) Varroc Dell'Orto Private Limited Varroc-Elba Electronics SRL, Romania (upto December 07, 2020.)

• 2 Key Management Personnel

Mr. Tarang Jain - Chairman and Managing Director

Whole time Directors

Mr. Arjun Jain Mr. Rohit Prakash (w.e.f. April 29, 2020) Mr. Ashwani Maheshwari (upto April 29, 2020) Non-executive Directors Mr. Naresh Chandra (upto November 10, 2020) Independent Directors

Mr. Gautam Khandelwal Mr. Marc Szulewicz Mrs. Vijaya Sampath Mr. Vinish Kathuria

• 3 Relatives of Key Management Personnel with whom Mr. Dhruv Jain - Son of Mr. Tarang Jain transactions have taken place

• 4 Enterprises owned or controlled by key management Endurance Technologies Limited personnel and/or their relatives with whom transactions have MS Consulting S.A.R.L., taken place TJ Holdings Trust Naresh Chandra Holdings Trust Suman Jain Holdings Trust

• 5 Key management personnel as per provisions of Companies Mr. Tharuvai R. Srinivasan Act 2013 Mr. Ajay Sharma

b. Transactions with related parties and balances at period end

			(Rs. in Million)	(Rs. in Million)
Sr. No.	Description of the nature of transactions	Transactions	Balances
		For the year ended March 31, 2021	As at March 31, 2021
			Receivable	Payable
A] **B] **	Sale of goods, services and fixed assets Endurance Technologies Limited Varroc TYC Auto Lamps Co. Limited Nuova CTS S.R.L, Italy Varroc Dell'Orto Private Limited Purchase of goods, services and fixed assets **** Nuova CTS S.R.L, Italy Varroc TYC Auto Lamps Co. Limited	4.12 226.19 7.57 226.39 112.65 29.17	0.19 191.17 6.26 36.55 - -	- - - - 26.32 33.71

Varroc Engineering Limited

Notes to the Consolidated Financial Statements for the year ended March 31, 2021 Note 47 : Related Party Disclosure

Sr. No.	Description of the nature of transactions	Transactions	Balances	Balances
		For the year ended March 31, 2021	As at March 31, 2021
			Receivable	Payable
C] D] E] F] G] H] I] **J] **	Royalty received Varroc TYC Auto Lamps Co. Limited Professional charges paid Mr. Naresh Chandra Mr. Gautam Khandelwal Mr. Marc Szulewicz Mrs. Vijaya Sampath Mr. Vinish Kathuria MS Consulting S.A.R.L., Directors fees paid Mr. Gautam Khandelwal Mr. Marc Szulewicz Mrs. Vijaya Sampath Mr. Vinish Kathuria Managerial remuneration # Mr. Tarang Jain Mr. Arjun Jain Mr. Ashwani Maheshwari (upto April 29, 2020)	109.20 0.37 0.94 1.87 1.50 1.80 6.93 2.12 1.20 2.00 1.70 26.29 10.22 1.39 16.09 7.08 0.67 9.34 1.71	74.67 - - - - - - - - - - - - - - - - 3.49 0.34	- - 0.87 1.87 1.50 1.67 - - - - - - - - - - - - -
	Mr. Rohit Prakash (w.e.f. April 29, 2020)
	Remuneration # Mr. Dhruv Jain Reimbursement of expenses (Received/Receivable) Varroc Dell'Orto Private Limited Management consultancy fees received Varroc Dell'Orto Private Limited Rent received Varroc Dell'Orto Private Limited

Notes :

• All the amounts exclusive of taxes, if any.

As gratuity and compensated absences are computed for all the employees in aggregate, the amount relating to the key managerial personnel, cannot be individually identified.

For Varroc Engineering Limited

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T. R. Srinivasan
Chief Financial Officer
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