Skip to content
Voltamp Transformers logo

Voltamp Transformers

VOLTAMP NSE
₹10,016.00 No trade today
P/E
31.96
View as Markdown
MCP
Close 4 Nov 2026 ₹10,016.00 +2,926.50 +41.3% 1Y
Start ₹7,089.50

Key Fundamentals

MicrocapElectrical EquipmentCapital Goods

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
23.50%
Debt to Equity
0.00
EPS (TTM)
₹313.38
Book Value
₹1,845.31
Market Cap
—
P/E (TTM)
31.96
P/B
5.43
ROE
17.40%
Dividend Yield
1.00%
EBITDA
₹422 Cr
52W High
₹12,863.00
52W Low
₹6,666.00
Volume
0

Peer Comparison

Industrials › Capital Goods › Electrical Equipment › Heavy Electrical Equipment

Voltamp Transformers peer comparison
Bharat Heavy Electricals
₹423.8551.25₹1,46,351 Cr5.520.35%6.23%9.14%₹37,782 Cr₹2,878 Cr
ABB
₹6,750.0047.87₹1,40,908 Cr15.321.36%22.40%29.90%₹13,477 Cr₹2,988 Cr
CG Power & Industrial Solutions
₹841.4596.28₹1,27,312 Cr15.170.16%20.50%26.70%₹13,699 Cr₹1,364 Cr
Hitachi Energy
₹29,100.00112.75₹1,24,045 Cr25.060.03%21.90%29.40%₹9,162 Cr₹1,149 Cr
Siemens
₹3,509.00—₹1,22,035 Cr9.030.53%19.20%21.40%₹18,062 Cr₹3,276 Cr
GE Vernova T&D
₹4,265.0083.66₹1,04,523 Cr33.150.25%57.40%77.40%₹6,712 Cr₹1,305 Cr
Siemens Energy
₹2,963.0070.90₹1,01,562 Cr21.930.14%50.50%67.80%₹9,436 Cr₹1,489 Cr
Voltamp Transformers (this company)
₹10,016.0031.96₹10,255 Cr5.431.00%17.40%23.50%₹2,274 Cr₹317 Cr
Median 8 companies₹3,887.0070.90₹1,23,040 Cr15.250.30%21.20%28.05%₹11,457 Cr₹1,427 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

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

Overall score

55 Good

Data confidence 100/100

Category scores

Quality
55
Good
Returns, margins, earnings quality 22% weight
Valuation
55
Average
Cheap vs sector & own history 24% weight
Growth
52
Average
Sales & profit trajectory 9% weight
Financial Health
86
Strong
Solvency, leverage, coverage 9% weight
Momentum
42
Weak
Trend strength, vol-adjusted 12% weight
Ownership
51
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

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: -8.00%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1072
OscillatorsBearish270
Moving AveragesStrong Bearish802

Key readings

RSI (14)
44.36
Neutral
MACD (12,26,9)
−128.36
Bearish
SMA (50)
10,612.18
Bearish
SMA (200)
9,562.73
Bullish

As of

Analyst Rating

Based on 7 analysts
BUY71%

5 of 7 analysts rate Buy, 2 Hold, 0 Sell.

As of

BUY
5
71%
HOLD
2
29%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+14.36%
5Y+25.50%
3Y+15.86%
1Y+11.38%
TTM+17.76%

Net profit

Net profit growth by window
10Y+21.36%
5Y+22.18%
3Y+15.10%
1Y−6.15%
TTM−2.76%

Operating cash flow

Operating cash flow growth by window
10YTurned positive
5Y+47.58%
3Y−5.90%
1Y−36.07%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+9.91 pp
5Y+5.35 pp
3Y−0.20 pp
1Y−2.44 pp
TTM−2.84 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹611 Cr
Mar 2018₹639 Cr
Mar 2019₹829 Cr
Mar 2020₹859 Cr
Mar 2021₹692 Cr
Mar 2022₹1,127 Cr
Mar 2023₹1,385 Cr
Mar 2024₹1,616 Cr
Mar 2025₹1,934 Cr
Mar 2026₹2,154 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹72.00 Cr
Mar 2018₹73.00 Cr
Mar 2019₹85.00 Cr
Mar 2020₹89.00 Cr
Mar 2021₹112 Cr
Mar 2022₹133 Cr
Mar 2023₹200 Cr
Mar 2024₹307 Cr
Mar 2025₹325 Cr
Mar 2026₹305 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹402 Cr −4.6% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 31 Jul 2026
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

94d ago

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.

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.

Quarterly Results

₹ Cr
VOLTAMP quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
322
381
408
504
428
398
484
625
424
483
630
617
544
684
Expenses
274
313
304
403
352
323
384
508
351
389
523
536
463
578
Operating Profit
48
69
105
101
76
75
99
116
73
94
108
81
80
106
OPM %
15%
18%
26%
20%
18%
19%
20%
19%
17%
19%
17%
13%
15%
15%
Other Income
23
18
25
23
29
32
7
17
36
15
26
−10
42
8
Interest
0
0
0
1
0
0
0
0
0
1
0
0
0
0
Depreciation
2
3
3
3
3
3
3
4
3
4
4
4
4
4
PBT
68
84
126
119
101
104
102
129
105
104
130
67
118
109
Tax %
26%
18%
25%
22%
22%
27%
28%
25%
24%
24%
24%
29%
23%
22%
Net Profit
51
68
95
94
79
76
73
97
80
79
99
48
91
85
EPS (₹)
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
—

Sep 2026: from the results filed on 29 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
VOLTAMP profit and loss, annual, ₹ crore
Particulars 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 (₹)
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%
—

Balance Sheet

₹ Cr
VOLTAMP balance sheet, annual, ₹ crore
Particulars 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

Cash Flow

₹ Cr
VOLTAMP cash flow, annual, ₹ crore
Particulars 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

Ratios

VOLTAMP financial ratios, annual
Particulars 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%

Insights

Beta

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

Log in to view Voltamp Transformers insights

60 extracted metrics across FY06–FY27.

Shareholding Pattern

As of Sep 2026

  • DIIs 35.48%
  • Promoters 30.00%
  • FIIs 20.48%
  • Public 10.64%
  • Others 3.34%
  • Government 0.05%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Voltamp Transformers

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.
Where is Voltamp Transformers Ltd (VOLTAMP) listed?
Voltamp Transformers Ltd trades as VOLTAMP on the NSE and under code 532757 on the BSE.
Which sector does Voltamp Transformers Ltd belong to?
Voltamp Transformers Ltd is classified under the Capital Goods sector, in the Electrical Equipment industry.
What is the PE ratio of Voltamp Transformers Ltd?
Voltamp Transformers Ltd trades at a PE ratio of 31.96 as of 4 Nov 2026, on earnings per share of ₹313.38, against a book value of ₹1,845.31 per share.
What is the 52-week high and low of Voltamp Transformers Ltd?
Over the last 52 weeks Voltamp Transformers Ltd has traded between ₹6,666 and ₹12,863 as of 4 Nov 2026.
Does Voltamp Transformers Ltd pay dividends?
Voltamp Transformers Ltd has a dividend yield of 1.00%.
What is the Return on Equity (ROE) of Voltamp Transformers Ltd?
Voltamp Transformers Ltd reported a return on equity of 17.40%. Its debt-to-equity ratio is 0.00.

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.

Website voltamptransformers.com
CEO Mr. Kanubhai Shakrabhai Patel B. Com., F.C.A., F.C.S.
Employees 386
Listed 20 Sep 2006
Face Value ₹10

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/VOLTAMP.md for Voltamp Transformers Ltd: dated key facts, then this page's sections in order: latest price, key fundamentals, peer comparison, the Tapetide Score, technical indicators, analyst ratings, growth rates, analyst forecasts, the AI analysis and news digest (labelled as AI-generated), financial statements, shareholding pattern, documents and the FAQ.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our Indian stock market MCP server.

Explore More

More Electrical Equipment stocks → FII DII DataStock ScreenerNifty 50 HeatmapF&O Ban ListFII and DII flows, month by monthHow Tapetide Scores changed, month by monthStocks mutual funds are buying, month by month