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Indian maker of power and distribution transformers (oil-filled and dry-type) for industrial and utility customers.
Indian maker of power and distribution transformers (oil-filled and dry-type) for industrial and utility customers.
Wins orders through tenders and direct sales to industrial and utility customers, with electrical steel and copper the main inputs, so many contracts include clauses that adjust price for material costs.
Moat: narrow (process know-how, brand). Long track record and quality reputation in transformers, but faces several well-capitalized Indian competitors.
Headquarters: Vadodara, India · Founded: 1963 · Employees: 1,295
Size Voltamp Transformers (VOLTAMP.NS) is an India Industrials company (Electrical Products) with a market value of $1.04B, the 580th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹9,731 on 6 Nov 2026.
Performance Over six months the shares gained 1.0%, against -33.7% for the median peer and 0.0% for the India market (cap-weighted) — 3rd highest of 20 in its peer set.
Growth Revenue grew 17.8% over the last twelve months (peer median +16.6%); the operating margin is 15.3% (peer median 5.5%).
Valuation It trades at 28.6× forward earnings against a peer median of 16.4× (4th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 35% a year for seven years (Req g). Recent delivered growth is +25%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.5 points below its cost of capital (15.1% WACC).
Next results Next results expected around 1 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹22.7B | ₹21.5B | ₹19.3B | ₹16.2B | ₹13.9B |
| Revenue growth | — | +11% | +20% | +17% | — |
| Gross profit | ₹4.87B | ₹4.21B | ₹4.20B | ₹3.75B | ₹2.73B |
| EBITDA | ₹3.63B | ₹3.63B | ₹3.73B | ₹3.28B | ₹2.35B |
| Net income | ₹3.17B | ₹3.05B | ₹3.25B | ₹3.07B | ₹2.00B |
| Free cash flow | n/a | ₹499M | ₹1.90B | ₹2.12B | ₹1.75B |
| Capital expenditure | n/a | ₹1.25B | ₹603M | ₹193M | ₹81.6M |
| Total debt | n/a | ₹5.43M | ₹21.3M | ₹32.1M | ₹0 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Voltamp Transformers VOLTAMP.NS | $1.04B | +1% | +18% | 15% | 28.6× | 35.4% |
| Atlanta Electricals ATLANTAELE.NS | $1.19B | -10% | +59% | 16% | 38.9× | 20.6% |
| Transformers and Rectifiers (India) TARIL.NS | $974M | -7% | +27% | 15% | 26.3× | n/a |
| CG Power & Industrial Solutions CGPOWER.NS | $12.9B | -10% | +24% | 12% | 72.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | VOLTAMP.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.4% | -8.0% | 11th highest of 21 |
| 6-month return | +1.0% | -33.7% | 3rd highest of 20 |
| Distance from 52-week high | -24.4% | -50.1% | 5th highest of 21 |
| Revenue growth (TTM) | +17.8% | +16.6% | 10th highest of 21 |
| Operating margin | 15.3% | 5.5% | 4th highest of 21 |
| Forward P/E | 28.6× | 16.4× | 4th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 35.4% | 16.8% | 3rd most demanding of 14 |
| Growth delivered (Del g) | +25.5% | +8.3% | highest of 13 |
| Hurdle (Req g minus delivered) | +9.9 pp | +10.3 pp | 6th least demanding of 13 |
| ROIC minus cost of capital | -0.5 pp | -1.4 pp | 10th highest of 21 |
| EV / EBITDA | 27.1× | 9.5× | most expensive of 5 |
| Net debt / EBITDA | -0.3× | 0.3× | 3rd least indebted of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Voltamp Transformers VOLTAMP.NS | India | $1.04B | +1% | +18% | 15% | 28.6× | 35.4% | +25.5% |
| Hunan Valin Wire & Cable 001208.SZ | China | $1.04B | -36% | +20% | 2% | 25.5× | 32.0% | +21.6% |
| Zhejiang Yankon 600261.SS | China | $1.03B | +52% | -2% | 4% | n/a | 10.2% | -11.1% |
| Guangzhou Zhiguang Electric 002169.SZ | China | $1.02B | -34% | +28% | 1% | n/a | n/a | n/a |
| Ongoal Technology 301662.SZ | China | $1.06B | -51% | -3% | 3% | 43.9× | 51.7% | n/a |
| Shenzhen Senior Technology Material 6067.HK | Hong Kong | $1.02B | n/a | +53% | 10% | 10.2× | n/a | n/a |
| Shenzhen Highpower Technology 001283.SZ | China | $1.07B | 0% | +18% | 5% | 23.8× | n/a | n/a |
| Topsec Technologies 002212.SZ | China | $1.01B | -18% | -9% | -14% | 99.8× | n/a | n/a |
| Xiangtan Electrochemical Scientific 002125.SZ | China | $1.08B | -25% | +1% | 9% | n/a | 19.4% | +9.2% |
| Sanyo Denki 6516.T | Japan | $1.01B | -39% | +20% | 12% | 11.4× | 9.0% | +6.7% |
| Leedarson IoT Technology 605365.SS | China | $1.01B | -55% | -2% | 4% | 15.4× | n/a | n/a |
| Dynapack International Technology 3211.TWO | Taiwan | $1.08B | -36% | +19% | 11% | 15.1× | 4.3% | -7.3% |
| discoverIE DSCV.L | United Kingdom | $997M | +17% | +5% | 10% | 17.1× | 21.4% | +7.9% |
| Guangdong Shunna Electric 000533.SZ | China | $996M | -24% | +25% | 6% | n/a | 16.8% | +8.7% |
| Elecon Engineering ELECON.NS | India | $995M | -26% | +5% | 17% | 24.6× | 31.3% | +17.8% |
| Windey Energy Technology 300772.SZ | China | $1.09B | -42% | +23% | -2% | n/a | n/a | n/a |
| Ficont Industry(Beijing) 605305.SS | China | $989M | -35% | +15% | 26% | 10.6× | -1.1% | +22.5% |
| Tokai Carbon Korea 064760.KS | South Korea | $1.10B | -53% | +23% | 28% | 15.0× | 8.8% | +5.7% |
| Shanghai QiFan Cable 605222.SS | China | $1.11B | -51% | +12% | 2% | 16.4× | n/a | n/a |
| Mersen MRN.PA | France | $976M | -1% | -3% | 9% | 13.1× | 11.0% | +7.0% |
| Shanghai Cooltech Power 300153.SZ | China | $1.11B | -27% | +84% | 5% | 29.0× | 37.0% | +20.3% |