Kumar has over two decades of experience working with large European and American MNCs and Indian Conglomerates in diverse sectors such as chemicals, automotive, information technology, wind energy and elevators
The company currently holds more than 175 patents and employs more than 1,500 engineers in research and development activities at various locations around the world.
The group will be pruning its Rs 700-crore annual investment in foreign operations by 20-25%, resulting in the rationalisation of Rs 140-175 crore.
Tandon recently quit Lumax Group as executive vice president (business development and strategy).
Varroc had posted Rs 98.4 crore profit during the same period privious fiscal.
Jain replaces Prabhakar Kadapa, who has moved to a new C K Birla Group firm PSA Avtec Powertrain
The company had earlier set itself a turnover target of Rs 20,000 crore by fiscal 2021, which means it will have to grow at a compounded annual growth rate (CAGR) of 22%.
In his new role, he would be reporting to Vineet Sahni, CEO and Senior Executive Director and would be responsible for business growth for existing and addition of new product lines and new jointvVentures besides other strategic initiatives for the group
In his LinkedIn profile, Marwah has updated, "In transition. First day after 28 years of non-stop grind across seven brands in automotive space. Recoup. Recharge, Recover to next phase."
The polymer division of the $1.5 billion Varroc Group acquired a majority stake in Bengaluru-based Team Concepts, a manufacturer of premium automotive accessories for Toyota Motor, Renault-Nissan and for the after-market.
To power such an ambitious growth, the company is looking at both organic and inorganic expansion along with establishing its footprint in new geographies. The component maker, which claims a 20% CAGR in the past 10 years, is going public early next fiscal.
The Aurangabad-based Varroc has appointed Ashwani Maheshwari as CEO for its India business from April 2018.
Vikas Marwah joins Varroc Group as Chief Sales & Marketing Officer.
Varroc Group's balance sheet, profit & loss figures and Financial Ratios
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