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Varroc Engineering Limited ( (IN:VARROC) ) has issued an update.
Varroc Engineering Limited has launched a Voluntary Retirement Scheme (VRS) for permanent workmen at several of its facilities, structured to be advantageous for both the company and participating employees. The company received 432 applications from eligible workmen and accepted 411 of them, resulting in a total payout obligation of approximately INR 79.94 crore, a move that signals an effort to rationalise its workforce and cost structure while potentially improving operational efficiency over the medium term.
More about Varroc Engineering Limited
Varroc Engineering Limited is an India-based automotive component manufacturer headquartered in Aurangabad, Maharashtra, with multiple production facilities serving domestic and global vehicle makers across various segments of the auto industry.
Average Trading Volume: 11,111
Technical Sentiment Signal: Buy
Current Market Cap: 86.52B INR
Learn more about VARROC stock on TipRanks’ Stock Analysis page.