Voltamp Transformers Reports Record ₹2,153 Crore Revenue Influx Despite Margin Pressure

Vadodara: Voltamp Transformers Limited closed FY2025-26 with its strongest-ever annual revenue performance, even as profitability softened during the final quarter due to rising costs and one-time employee-related provisions. The transformer manufacturer also highlighted a healthy order pipeline and ongoing capacity expansion plans as it prepares for the next financial year.

Revenue Hits Record High

The company reported revenue from operations of Rs. 2,153.69 crore for FY2025-26, compared with Rs. 1,934.23 crore in the previous year, marking an 11 percent increase. The company attributed the growth to strong market presence, timely execution of projects and an expanding customer base.

For the March quarter, revenue stood at Rs. 617.22 crore against Rs. 624.81 crore in the corresponding period last year. Annual operating profit came in at Rs. 344.21 crore, while EBITDA margin for the full year stood at 16.50 percent.

Margins Face Cost Pressure

Quarterly profitability was impacted by several one-time and external cost pressures. The company made a one-time provision of Rs. 4.85 crore related to compliance with revised labour codes and another Rs. 5.50 crore towards employee incentive payouts linked to performance targets.

Voltamp also said rupee depreciation increased the cost of imported raw materials, while vendors raised prices of critical components amid stronger export demand. In addition, the ongoing Middle East conflict pushed up transformer oil prices, further affecting margins during the quarter.

Order Book Remains Strong

Despite near-term margin pressure, the company entered FY2026-27 with an order backlog of Rs. 1,200 crore, equivalent to 10,270 MVA. It also secured fresh orders worth Rs. 310 crore during April 2026 alone. Management said the enquiry pipeline remains robust and the company continues to stay selective while bidding for new contracts. The Board of Directors also recommended a final dividend of 1000 percent, translating into Rs. 100 per share, subject to shareholder approval.

Expansion Plans Continue

Voltamp stated that construction of its new power transformer factory is progressing according to schedule and is expected to become operational from July 2026. The board has additionally approved an investment of Rs. 25 crore for acquiring land near Vadodara to maintain a future-ready land bank. The company said the land acquisition will be funded through internal accruals, reflecting continued focus on long-term manufacturing expansion and operational readiness.

Disclaimer: This article is based solely on the company’s press release and stock exchange filing issued by Voltamp Transformers Limited. No independent verification or external reporting sources were used in preparing this article.