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Swing Capital

Voltamp Transformers Ltd

NSE: VOLTAMP BSE: 532757Energy

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]

₹9,232
52W: ₹6666 — ₹12863
PE 30.5 · Book ₹1771 · +421% vs book
Market Cap₹9,340 Cr
Stock P/E30.5Price to Earnings
ROCE24.1%Return on Capital
ROE18.1%Return on Equity
Div. Yield1.05%Face Value ₹10

Strengths

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

Weaknesses

  • −Promoter holding is low: 30.0%
  • −Promoter holding has decreased over last 3 years: -20.0%

Shareholding Pattern

Promoters30%
FIIs22.82%
DIIs31.66%
Public15.47%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters38%38%38%38%37.8%▼0.230%▼7.830%30%
FIIs27.28%28.5%▲1.226.7%▼1.823.91%▼2.823.23%▼0.722.85%▼0.421.78%▼1.122.82%▲1.0
DIIs24.3%22.6%▼1.723.7%▲1.123.53%▼0.223.41%▼0.129.69%▲6.331.38%▲1.731.66%▲0.3
Public10.35%10.82%▲0.511.51%▲0.714.48%▲3.015.49%▲1.017.39%▲1.916.79%▼0.615.47%▼1.3

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales408504428398484625424483630617
Expenses304403352323384508351389523536
Operating Profit105101767599116739410881
OPM %26%20%18%19%20%19%17%19%17%13%
Net Profit95947976739780799948
EPS ₹93.5192.4578.5274.8672.5595.7178.6377.9497.9347.35

AI Insights

Revenue Trend

Mar 2026 revenue at ₹2,154Cr, up 11.4% YoY. OPM at 16%.

Debt Position

Borrowings at ₹1Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Capex Cycle

CWIP at ₹108Cr (92% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 31.66% (+5.98pp change). FIIs: 22.82% (+8.73pp change). Promoters hold 30%.

Margin & Efficiency

ROCE improving from 6% (Mar 2015) to 24% (Mar 2026). Working capital days: 92.

Valuation

PE 30.5x with 24.1% ROCE. Price is 421% above book value of ₹1,771. Dividend yield: 1.05%.

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