Voltamp Transformers hits 20% lower circuit on weak Q4; profit falls 50%

Voltamp Transformers' net profit declined to ₹48 crore from ₹97 crore during the Q4FY25.

Voltamp Transformers share price today

Shares of Voltamp Transformers, an oil-filled and dry-type power and distribution transformers company, plunged 20 per cent to hit the lower circuit on Wednesday after the company announced its results for the January-March 2026 quarter (Q4FY26). The stock slumped to ₹10,016 on the NSE. Following the sell-off, the company’s market capitalisation fell to ₹14,649.59 crore.

 

Around 02:15 PM, Voltamp Transformers stock was trading at ₹10,116, down 19.20 per cent from the previous session's close of ₹12,520. In comparison, the benchmark NSE Nifty50 index was quoting at 24,032.70 levels, down by 86.60 points or 0.36 per cent.

 

 

In the Q4FY25, Voltamp reported revenue from operations of ₹617.22 crore, down 1 per cent from ₹624.81 crore in the year-ago period. Its earnings before interest, tax, depreciation, and amortisation (Ebitda) declined 30 per cent year-on-year (Y-o-Y) to ₹79.77 crore from ₹114.01 crore in the corresponding quarter of the previous fiscal. 

 

Ebitda margin slipped to 13.17 per cent from 18.63 per cent in the year-ago period. 

 

The company's net profit declined to ₹48 crore from ₹97 crore during the Q4FY25.

 

During the fiscal 2025-26, the company achieved net sales and service revenue of ₹2,153.68 crore, up 11.34 per cent over the previous year's revenue of ₹1,934.23 crore. 

 

The company's board of directors has recommended a final dividend of 1000 per cent, which is ₹100 per share for the year, subject to approval of the shareholders. 

 

The company started FY26 with an order backlog of ₹1,200 crore (10,270 MVA). It secured new orders worth ₹310 crore (2,107 MVA) in April 2026. The enquiry pipeline remains strong, and the company continues to be selective while bidding for new orders.

 

According to its exchange filing, the company had invested a significant portion of its funds over the past two years in long-term government securities and long-duration mutual fund schemes during the peak of the interest rate cycle. This strategy had delivered strong returns and record mark-to-market (MTM) gains in earlier periods.

 

However, in the March quarter, a rise in long-term G-Sec yields compared to the first quarter of the financial year led to negative MTM gains. The company said its investment approach remains long-term, and the impact seen in the quarter is largely due to accounting adjustments driven by short-term market volatility.

 

Additionally, the depreciation of the rupee increased the cost of imported raw materials. There was also a sharp rise in the cost of critical components, as vendors shifted focus to export markets and passed on higher input costs. The ongoing conflict in the Middle East further led to a steep increase in transformer oil prices, the company said.