Voltamp’s Profit Before Tax in June Quarter Up by 3%

Vadodara, July 29, 2025 – Voltamp Transformers Ltd (NSE: VOLTAMP, BSE: 532757) reported a modest 3% year-on-year rise in net profit before tax to ₹104.65 crore for the first quarter of FY26, even as revenue from operations declined 1% to ₹423.58 crore due to monsoon-related delivery issues.

The company’s total income for the quarter ended June 30, 2025, stood at ₹459.27 crore, up 1% from ₹456.94 crore in Q1FY25. However, the operating profit declined 5% year-on-year to ₹69.44 crore as EBIDTA margin narrowed to 17.15% from 17.70% a year ago.

Key Financial Highlights (₹ in crore)

• Net Sales and Services stood at ₹423.58 crore in Q1 FY26, showing a 1% year-on-year (YoY) decline from ₹428.15 crore in Q1 FY25 and a notable drop from ₹624.81 crore in Q4 FY25.
• Other Income rose 24% YoY to ₹35.69 crore, up from ₹28.79 crore in Q1 FY25 and more than doubled from ₹17.01 crore in Q4 FY25.
• Total Income inched up by 1% YoY, reaching ₹459.27 crore in Q1 FY26 compared to ₹456.94 crore in the same quarter last year.
• Net Profit Before Tax increased by 3% YoY to ₹104.65 crore, as against ₹101.27 crore in Q1 FY25, though lower than ₹129.34 crore reported in Q4 FY25.
• Operating Profit declined by 5% YoY, falling to ₹69.44 crore from ₹72.92 crore in Q1 FY25, and sharply down from ₹114.01 crore in the previous quarter.
• EBITDA Margin contracted slightly to 17.15% in Q1 FY26, down from 17.70% in Q1 FY25 and 18.63% in Q4 FY25.
• Volume came in at 3,260 MVA for the quarter, reflecting an 8% YoY decline from 3,526 MVA in Q1 FY25 and lower than 4,490 MVA in Q4 FY25.

Note: Invoicing of ₹47 crore (404 MVA) was impacted by site inaccessibility due to heavy rainfall and delays in the solar sector owing to land and regulatory hurdles.

Other Income Breakdown (Q1 FY26)

• Interest Income contributed ₹9.07 crore to the total other income during the quarter.
• Dividend Income was minimal at ₹0.01 crore.
• Capital Gain (Realised) stood at ₹0.77 crore.
• Mark-to-Market Gain (FVTPL) was the largest contributor, accounting for ₹25.36 crore.
• Total Other Income for Q1 FY26 amounted to ₹35.21 crore, largely supported by market-linked gains.

Working Capital Snapshot

• Receivables saw a significant reduction to ₹73.98 crore in June ’25, down from ₹292.59 crore in March ’25.
• Inventory increased to ₹294.93 crore from ₹237.43 crore.
• Investments rose to ₹1,239.55 crore in June ’25, compared to ₹1,055.89 crore in the previous quarter.
• Creditors jumped to ₹24.22 crore from ₹4.22 crore.

Receivables significantly declined, while investments surged, signaling healthy cash generation.

Order Book & Revenue Visibility

Voltamp reported a 33% rise in order volumes and 17% growth in value terms year-on-year for FY26 YTD. As of now, the company has revenue visibility of ₹1,685 crore (14,526 MVA) for the fiscal, including Q1 sales. It is targeting full capacity utilization and refrains from booking orders with delivery periods beyond nine months to avoid price volatility risks.

Management Outlook

The company maintains a cautious optimism amid global headwinds. While geopolitical risks and trade tensions persist, RBI’s pro-growth stance is seen as a tailwind. Voltamp noted rising private and public capex as a key support, with ₹3.5 lakh crore of private projects and ₹62,425 crore in public sector capex announced in Q1FY26.

“The Company is confident of meeting budgeted revenue in the next 4 months backed by a strong enquiry pipeline,” the management stated, while highlighting margin pressure from new capacity additions and supply chain challenges.

Voltamp Transformers Stock Performance

Voltamp Transformers shares closed at ₹9,222, which is a 7.12% gain on July 29, 2025. Voltamp Transformers shares have dipped 34% in the last year, down 11% in the year-to-date, and 3.9% in the previous month.

Voltam Transformers opened at ₹8,634.50 and moved between a low of ₹8,510.00 and a high of ₹9,442.00 during the session. The company has a market capitalization of approximately ₹9,370 crore. In the past 52 weeks, the share has touched a high of ₹14,800.00 and a low of ₹6,051.00.

About Voltamp Transformers

Voltamp Transformers Ltd, listed on BSE and NSE, is a leading manufacturer of oil-filled and dry-type transformers catering to utilities, industries, infrastructure and renewable sectors across India and select global markets. The company is headquartered in Vadodara, Gujarat.

REF: https://nsearchives.nseindia.com/corporate/VOLTAMP_29072025131626_BM_Outcome_signed.pdf

https://nsearchives.nseindia.com/corporate/VOLTAMP_29072025134004_Press_Release_Signed.pdf

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