Voltamp Transformers Shares Jump Nearly 10% After Strong Q2FY26 Performance

Vadodara, November 10, 2025:  The share price of Voltamp Transformers Limited surged 9.7% and reached ₹7850 on Monday morning. The stock continued to move sideways and was trading at ₹7,848.50 at 01:45 PM after reaching the day’s high of ₹7910 per share earlier during the afternoon. The reason for the surge can be attributed to the robust financial numbers posted by the company for the second quarter of the current financial year. The operating margins remained quite healthy, and the company reported a strong order pipeline, ensuring steady revenue for the next couple of quarters.

Established in 1967 and based in Vadodara, Gujarat, Voltamp Transformers Limited is a leading manufacturer of power and distribution transformers catering to industrial, utility, and renewable segments. The company is listed on NSE (VOLTAMP) and BSE (532757) under the Heavy Electrical Equipment category. Despite the surge that the share has witnessed today, it has plummeted by close to 24% in the past year.

Financial Performance Analysis

The company delivered a strong Q2 FY26 performance, with Net Sales rising 21 percent YoY to ₹482.56 crore and Total Income increasing 16 percent despite a sharp 54 percent drop in Other Income. Operating Profit grew 24 percent YoY, and EBITDA margin improved to 19.39 percent from 18.85 percent. H1 FY26 results also remained healthy, with Net Sales up 10 percent and Operating Profit up 10 percent YoY, while margins stayed stable at 18.34 percent. Management noted that heavy rains impacted September invoicing by ₹10.10 crore, indicating that the underlying performance was even stronger.

Operational and Strategic Updates

The company achieved a major milestone as it manufactured and delivered the highest-rated power transformer (160 MVA/220 kV) before schedule during the second quarter of the current financial year. The company also underlined a strong demand expectation for transformers due to grid modernization and industrial expansion. The company has also started the construction of a greenfield EHV power transform factory, which is expected to be completed by June 2026 (investment of ₹82.82 crore already finalized).

Order Book & Revenue Visibility

The company’s order book is strong as it opened the current financial year with open orders of ₹983 crore that went up further during the first two quarters. During the first half of the year, the company secured new orders of ₹1377 crores and another ₹92 crores awaiting formal purchase orders. The company has enough orders to meet the current year’s revenue goals.

Leadership Strengthening

The company made a few changes to the top management, as Mr. Vijay Gupta, who was previously the Head of Power Transformer Business, has been promoted as the COO (Chief Operating Officer). The company’s promoter and Managing Director, Mr Kunjal Patel, sold 8% of the equity in September 2025, still retaining a 30% stake in the company and continued his executive role in the company. Mr Jwalin Patel, the son of Mr Kunjal Patel, has joined the company as a Management Trainee.

Market Reaction

At  01:45 PM, the stock traded at ₹7848.20, roughly 9.60% more than the closing price of the previous day. The share price of Voltamp had an intraday of ₹7910 per share so far, and the stock was among the top ten gainers on the NSE. The company’s PE ratio is 22.28, quite lower than the industrial average of 56.32.

REF: https://nsearchives.nseindia.com/corporate/VOLTAMP_08112025135812_PRESS_RELEASE_SIGNED.pdf

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