Voltamp Transformers Ltd logo

Voltamp Transformers Ltd

VOLTAMP NSE

Key Fundamentals

MicrocapElectrical EquipmentCapital Goods
Market Cap
₹10,131 Cr
Volatility
Moderate
P/E Ratio
32.23
EBITDA
₹422 Cr
Return on Equity
17.04%
Debt to Equity
0
Book Value
₹1,771.06
EPS
₹332.14
52W High
₹12,863
52W Low
₹6,666

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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29 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

3
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 31.3%

Weaknesses

1
  • Promoter holding has decreased over last 3 years: -20.0%

Growth Rate

Revenue Growth
9.97% ↗
Net Income Growth
-6.15% ↘
Cash Flow Change
-36.27% ↘
ROE
-16.88% ↘
ROCE
-17.56% ↘
EBITDA Margin (Avg.)
-14.91% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 18d ago
AI opinion · based on fundamentals
Risk medium

Voltamp Transformers Ltd is a nearly debt-free industrials company with a market cap of Rs 9,554 crore, trading at a PE of 30.8x. The company has delivered strong long-term stock returns (28% CAGR over 10 years) but recent profit growth has turned negative at -7% TTM, while promoter holding has declined significantly by 20% over three years to 30%.

Bull Case 8
  • Company is virtually debt-free, providing financial resilience and flexibility for capex in a capital-intensive transformer industry
  • Consistent long-term wealth creation with stock CAGR of 43% over 5 years and 28% over 10 years, reflecting sustained business momentum
  • Healthy return on equity averaging 21% over 3 years and 20% over 5 years, indicating efficient capital deployment
  • Compounded sales growth of 25% over 5 years demonstrates strong revenue traction, likely benefiting from India's power infrastructure buildout
  • Compounded profit growth of 26% over 5 years and 23% over 10 years shows durable earnings expansion over longer periods
  • Dividend payout ratio of 31.3% with a yield of 1.08% reflects shareholder-friendly capital allocation despite growth reinvestment needs
  • TTM sales growth of 11% indicates continued top-line expansion even as broader industrial demand normalizes
  • Price-to-book of 5.25x, while elevated, is supported by ROE consistently above 17% over the past decade
Bear Case 8
  • Promoter holding has declined sharply by 20 percentage points over 3 years to just 30%, raising concerns about insider confidence and potential overhang
  • TTM profit growth has turned negative at -7%, signaling potential margin compression or rising input costs despite revenue growth
  • PE of 30.8x is elevated for a transformer manufacturing company, leaving limited room for earnings disappointment
  • ROE has declined from a 3-year average of 21% to 17% in the last year, suggesting returns on capital may be peaking
  • Promoter holding at 30% is low for an Indian mid-cap industrial company, potentially making the stock vulnerable to hostile activity or governance concerns
  • Stock CAGR has moderated sharply to just 5% over 1 year versus 26% over 3 years, indicating momentum deceleration
  • Sales growth has decelerated from 25% (5-year CAGR) to 11% TTM, suggesting the high-growth phase may be tapering
  • Price-to-book of 5.25x implies significant premium to book value, creating downside risk if ROE continues to compress from 21% toward lower levels

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 15d ago
Headwinds 2
  • EBITDA margin contraction Aug 1

    EBITDA margins contracted to 14.77% in Q1FY27 due to rising input costs, despite strong revenue growth of 28% YoY.

  • EHV facility commissioning delayed Aug 1

    New EHV facility faces a two-month commissioning delay, potentially impacting near-term capacity additions.

Positives 3
  • Q1FY27 profit up 14.68% YoY Aug 1

    Net profit rose to ₹912.3 million in Q1FY27, supported by a 28% revenue surge and a healthy order book of ₹2,342 crore.

  • ₹100 per share final dividend Jul 7

    Board declared ₹100 per share final dividend for FY26, approved at the 59th AGM held on July 31, 2026.

  • Dry-type transformer expansion on track Aug 1

    Expansion plans for dry-type transformers near Vadodara remain on schedule, adding future capacity in a growing segment.

Neutral 2
  • BRSR filed for FY26 Jul 7

    Voltamp filed its Business Responsibility and Sustainability Report for FY 2025-26, detailing ₹95.52 crore capex on ESG initiatives.

  • AGM approvals completed Aug 2

    Shareholders approved financial statements, re-appointment of director Kanubhai S. Patel, and cost auditor remuneration for FY27 at the July 31 AGM.

TL;DR: Voltamp Transformers delivered solid Q1FY27 growth with 28% revenue surge and 14.68% profit increase, backed by a robust ₹2,342 crore order book. Key risks include margin pressure from rising input costs and a two-month delay in EHV facility commissioning. The generous ₹100 dividend signals management confidence. Trend remains constructive as long as order inflows sustain and the Vadodara expansion stays on track.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
322
381
408
504
428
398
484
625
424
483
630
617
544
Expenses
274
313
304
403
352
323
384
508
351
389
523
536
463
Operating Profit
48
69
105
101
76
75
99
116
73
94
108
81
80
OPM %
15%
18%
26%
20%
18%
19%
20%
19%
17%
19%
17%
13%
15%
Other Income
23
18
25
23
29
32
7
17
36
15
26
-10
42
Interest
0
0
0
1
0
0
0
0
0
1
0
0
0
Depreciation
2
3
3
3
3
3
3
4
3
4
4
4
4
PBT
68
84
126
119
101
104
102
129
105
104
130
67
118
Tax %
26%
18%
25%
22%
22%
27%
28%
25%
24%
24%
24%
29%
23%
Net Profit
51
68
95
94
79
76
73
97
80
79
99
48
91
EPS in Rs
50.19
67.65
93.51
92.45
78.52
74.86
72.55
95.71
78.63
77.94
97.93
47.35
90.16
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
517
563
611
639
829
859
692
1,127
1,385
1,616
1,934
2,154
2,274
Expenses
497
526
551
571
735
744
615
988
1,154
1,294
1,568
1,798
1,911
Operating Profit
20
37
60
67
94
114
77
139
231
322
366
355
363
OPM %
3.8%
7%
10%
11%
11%
13%
11%
12%
17%
20%
19%
16%
16%
Other Income
21
28
39
39
36
9
72
43
40
89
85
67
72
Interest
0
0
1
1
1
1
1
1
1
2
1
1
2
Depreciation
7
6
6
6
7
9
9
8
10
11
13
15
15
PBT
33
59
93
100
123
113
140
173
260
398
436
406
419
Tax %
15%
26%
22%
27%
31%
21%
20%
23%
23%
23%
25%
25%
—
Net Profit
28
44
72
73
85
89
112
133
200
307
325
305
317
EPS in Rs
28.08
43.47
71.37
72.63
83.86
88.35
111
131
198
304
322
302
313
Div. Payout %
36%
29%
21%
21%
27%
28%
23%
27%
30%
30%
31%
33%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
10
10
10
10
10
10
10
10
10
10
10
10
Reserves
431
459
555
610
677
738
824
932
1,097
1,344
1,578
1,782
Borrowings
0
0
0
0
0
0
0
0
0
3
2
1
Other Liabilities
55
51
48
50
64
69
82
119
115
164
186
226
Total Liabilities
495
521
613
670
751
817
916
1,061
1,223
1,521
1,776
2,018
Fixed Assets
41
39
38
43
48
58
53
62
67
77
118
118
CWIP
1
0
1
3
0
1
8
8
0
1
3
108
Investments
211
220
313
352
381
454
492
561
718
922
1,056
995
Other Assets
242
262
260
272
321
304
363
431
437
522
599
797
Total Assets
495
521
613
670
751
817
916
1,061
1,223
1,521
1,776
2,018
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-10
-1
78
43
32
108
20
66
168
216
219
140
Investing
24
12
-60
-20
-11
-86
21
-46
-127
-141
-116
-1
Financing
-12
-12
-16
-18
-18
-27
-26
-26
-36
-63
-94
-104
Net Cash Flow
2
-2
2
4
3
-5
14
-7
4
12
9
34
Free Cash Flow
-13
-4
72
30
22
88
10
47
161
199
159
15
CFO/OP
-22
-3
165
105
74
120
56
75
99
94
88
68
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
102
96
92
83
78
64
90
62
60
54
55
46
Inventory Days
70
78
63
96
84
94
123
123
83
108
85
126
Days Payable
11
4
1
1
1
6
7
1
1
4
2
3
Cash Conversion Cycle
161
171
154
177
161
152
206
184
142
158
139
169
Working Capital Days
130
135
120
118
106
91
130
99
82
76
74
87
ROCE %
6%
11%
17%
16%
18%
15%
15%
19%
25%
32%
29%
24%

Shareholding Pattern

As of Jun 2026
DIIs 33.85%
Promoters 30.00%
FIIs 21.53%
Public 11.22%
Others 3.34%
Government 0.06%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
38.00%
38.00%
38.00%
38.00%
38.00%
38.00%
38.00%
37.80%
30.00%
30.00%
30.00%
30.00%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
22.34%
23.23%
24.84%
27.28%
28.50%
26.70%
23.91%
23.23%
22.85%
21.78%
22.81%
21.53%
DIIs
21.46%
21.67%
21.43%
21.38%
21.78%
21.59%
21.86%
25.58%
25.85%
25.68%
28.46%
28.70%
26.90%
24.30%
22.61%
23.70%
23.54%
23.41%
29.69%
31.39%
31.66%
33.85%
Government
0.00%
0.00%
0.00%
0.00%
0.02%
0.02%
0.00%
0.00%
0.00%
0.00%
0.02%
0.07%
0.07%
0.07%
0.07%
0.07%
0.07%
0.08%
0.05%
0.05%
0.05%
0.06%
Public
10.70%
10.60%
10.78%
10.56%
10.12%
9.31%
9.05%
8.55%
8.71%
8.55%
9.22%
8.45%
8.54%
8.85%
9.17%
9.82%
12.50%
13.15%
14.66%
13.25%
12.10%
11.22%
Others
17.84%
17.73%
17.79%
18.06%
18.08%
19.09%
19.09%
15.87%
15.44%
15.76%
1.97%
1.55%
1.65%
1.50%
1.65%
1.70%
1.98%
2.34%
2.73%
3.53%
3.37%
3.34%
No. of Shareholders
18,758
18,411
17,456
16,924
16,990
24,315
26,207
25,128
24,544
25,558
28,901
30,223
26,754
32,028
37,198
45,154
56,960
61,983
66,973
60,919
56,679
52,732

Documents

Frequently Asked Questions about Voltamp Transformers Ltd

What does Voltamp Transformers Ltd do?
Voltamp Transformers Ltd is a Baroda based company and is mainly into manufacturing of various types of Oil filled Power & Distribution Transformers of various classes.[1]
Where is Voltamp Transformers Ltd (VOLTAMP) listed?
Voltamp Transformers Ltd is listed on the Indian stock exchanges. It is listed on NSE: VOLTAMP and BSE: 532757. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Voltamp Transformers Ltd belong to?
Voltamp Transformers Ltd operates in the Industrials sector within the Electrical Equipment industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Voltamp Transformers Ltd?
Voltamp Transformers Ltd has a market capitalisation of approximately ₹10130.78 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Voltamp Transformers Ltd?
The Price-to-Earnings (PE) ratio of Voltamp Transformers Ltd is 32.23. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Voltamp Transformers Ltd?
Over the past 52 weeks, Voltamp Transformers Ltd has traded between a low of ₹6,666 and a high of ₹12,863. This range helps investors understand the stock's price volatility and recent trading levels.
Does Voltamp Transformers Ltd pay dividends?
Yes, Voltamp Transformers Ltd has a dividend yield of 1.00%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Voltamp Transformers Ltd?
Voltamp Transformers Ltd has a Return on Equity (ROE) of 17.04%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Voltamp Transformers Ltd on Tapetide?
On Tapetide, you can view Voltamp Transformers Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Voltamp Transformers Ltd is a Baroda based company and is mainly into manufacturing of various types of Oil filled Power & Distribution Transformers of various classes.[1]

Website voltamptransformers.com
CEO Mr. Kanubhai Shakrabhai Patel B. Com., F.C.A., F.C.S.
Employees 386
Listed 2006-09-20
Face Value ₹ 10
Issued Size 1,44,61,594

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