Voltamp Transformers FY26 revenue hits record Rs 2,153.69 crore
Voltamp Transformers Limited reported its highest-ever annual revenue for the financial year ended March 31, 2026, while profitability declined due to margin pressures and one-time provisions in the fourth quarter.
Revenue from operations rose 11.34% year-on-year (YoY) to Rs 2,153.69 crore. Full-year operating profit stood at Rs 344.21 crore, down 3% from Rs 356.11 crore in FY25. EBITDA margin declined to 16.50% from 18.93% in the previous year. Earnings Per Share (EPS) for FY26 was Rs 301.85, compared to Rs 321.65 a year earlier.
For Q4 FY26, revenue remained largely stable at Rs 617.22 crore versus Rs 624.81 crore in the corresponding period last year. Operating profit declined 30% YoY to Rs 79.77 crore.
The Board recommended a final dividend of 1,000%, equivalent to Rs 100 per share, subject to shareholder approval.
Margins in the March quarter were affected by multiple factors. These included a one-time provision of Rs 4.85 crore linked to the revised labour code and Rs 5.50 crore towards a target-based employee incentive. The depreciation of the rupee increased the cost of imported inputs and critical components. In addition, the Middle East conflict led to higher transformer oil prices.
Mark-to-market losses impacted other income. The company had previously recorded gains from investments in long-term government securities and mutual funds. However, a rise in long-term government securities (G-Sec) yields during the quarter resulted in non-cash negative adjustments, while the long-term investment strategy remained unchanged.
Voltamp began FY27 with an order backlog of about Rs 1,200 crore (10,270 MVA). It added new orders worth Rs 310 crore (2,107 MVA) in April 2026. The company indicated that its enquiry pipeline remains strong and that it continues to take a selective approach to order intake.
On capacity expansion, construction of a new power transformer facility is progressing and is expected to be commissioned in July 2026. The Board has also approved an investment of Rs 25 crore to acquire land near Vadodara for future expansion, to be funded through internal accruals.
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