Manufactures power and distribution transformers from a base in Vadodara, Gujarat, operating across 19 Indian locations. Q1 FY27 revenue from operations rose 28% year-on-year to Rs 543.78 crore, while full-year FY26 revenue stood at Rs 2,153.69 crore. The order book was Rs 1,510 crore as disclosed in the FY26 annual report, and existing manufacturing capacity was running above 100% utilisation, prompting a Rs 90 crore capex plan (funded entirely through internal accruals) for a new 2,300 MVA dry-type transformer facility near Vadodara, to be built in 12-14 months. A new EHV (extra high voltage) facility is expected to be operational from July 2026 to serve demand over the next 5-6 years. Materials are the dominant cost at 77.9% of revenue, with employee costs at 3.5% and other operating expenses at 6.2%. Exports contributed 3.24% of FY26 revenue, shipped to 27 countries. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Transformers. Capital-goods, asset-heavy transformer manufacturer in the heavy electrical equipment industry.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,127 | 1,385 | 1,616 | 1,934 | 2,154 |
| EBITDA (ex other income) | 139 | 231 | 322 | 366 | 355 |
| margin % | 12.3 | 16.7 | 19.9 | 18.9 | 16.5 |
| Owners' profit | 133 | 200 | 307 | 325 | 305 |
| EPS, as reported (₹) | 131.30 | 197.63 | 303.80 | 321.65 | 301.85 |
| ROE % · ROCE % | 14.1 · 18.2 | 18.1 · 23.3 | 22.7 · 29.1 | 20.5 · 27.1 | 17.0 · 22.3 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 66 | 168 | 216 | 219 | 140 |
| Capex | (19) | (8) | (19) | (60) | (125) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 398 | 484 | 625 | 424 | 483 | 630 | 617 | 544 |
| Profit before tax | 104 | 102 | 129 | 105 | 104 | 130 | 67 | 118 |
| Net profit | 76 | 73 | 97 | 80 | 79 | 99 | 48 | 91 |
| EPS (₹) | 74.87 | 72.55 | 95.70 | 78.63 | 77.94 | 97.94 | 47.35 | 90.17 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ABB INDIA LIMITED | 1,54,136 | 51.6 | 16.50 | — | 23.0 | 10.2 | — | 15.2 |
| BHEL | 1,50,076 | 61.7 | 5.74 | 49.8 | 6.1 | 4.7 | 14.3 | 9.3 |
| CG POWER AND IND SOL LTD | 1,43,168 | 93.7 | 17.46 | 77.9 | 14.6 | 19.2 | 33.2 | 14.7 |
| SIEMENS LTD | 1,40,869 | 43.0 | 10.17 | 39.7 | 19.9 | 20.6 | 31.1 | 11.6 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 12 Aug 2026 · CARE Ratings reaffirms Voltamp Transformers bank facility ratings | credit debt | medium | — | — |
| 6 Aug 2026 · Voltamp Transformers to attend investor conferences in Singapore | board shareholder meetings | low | — | — |
| 1 Aug 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
| 31 Jul 2026 · Voltamp Transformers AGM 2026: All 4 resolutions passed, Rs 100 dividend declared | compliance | minimal | — | — |
| 31 Jul 2026 · Proceedings of 59th Annual General Meeting filed with BSE | board shareholder meetings | low | — | — |
| 31 Jul 2026 · Press release for Q1 FY27 results (quarter ended June 30, 2026) | compliance | low | — | — |
| 31 Jul 2026 · Q1 FY27 results - revenue up 28%, PAT up 15%, INR 90 cr new capex approved | results | high | — | — |
| 31 Jul 2026 · Voltamp Transformers Q1 FY27 results: revenue up 28% YoY, board approves INR 90 cr capex | results | high | — | — |
| 23 Jul 2026 · Board meeting on July 31 to approve Q1 FY27 results | results | low | — | — |
| 11 Jul 2026 · Quarterly compliance certificate on share dematerialisation filed | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| HITACHI ENERGY INDIA LTD | 1,40,200 | 121.8 | 27.09 | — | 19.1 | 24.7 | — | 16.9 |
| GE VERNOVA T&D INDIA LTD | 1,16,454 | 89.2 | 43.29 | — | 45.8 | 57.9 | — | 27.4 |
| SIEMENS ENERGY INDIA LTD | 1,13,147 | 76.0 | 23.51 | — | 14.3 | 15.8 | — | 25.9 |
| SUZLON ENERGY LIMITED | 60,678 | 19.4 | 6.41 | 18.8 | 33.4 | 22.7 | 38.0 | 16.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 35.8 | 35.1 | 18 of 34 | 49% |
| P/B | 6.3 | 5.7 | 18 of 33 | 47% |
| ROCE | 22.3 | 16.6 | 11 of 36 | 71% |
| ROE | 17.0 | 14.6 | 16 of 35 | 56% |
| Debt / Equity | 0.0 | 0.1 | 2 of 35 | 65% |
| EBITDA margin | 22.4 | 16.4 | 11 of 35 | 71% |
| Revenue growth | 28.4 | 17.7 | 12 of 33 | 66% |
| Profit growth | 14.7 | 6.7 | 15 of 32 | 55% |
| Market cap | 11346 | 7198 | 15 of 35 | 59% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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