Voltamp Transformers Ltd, based in Vadodara, Gujarat, has been a leader in transformer manufacturing since 1963. The company offers a diverse product range, including oil-filled power and distribution transformers, dry type transformers, induction furnace transformers, and compact substations. Renowned for its quality and innovation, Voltamp invests in advanced R&D to deliver energy-efficient and reliable solutions. With state-of-the-art manufacturing facilities and stringent quality control, the company caters to public sector units, multinational corporations, and cooperatives, serving both domestic and global markets. Its focus on sustainability and exceptional customer support further solidifies its position as a trusted name in the industry.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | |
| Promoters + | 38.00% | 38.00% | 38.00% | 38.00% | 38.00% |
| FIIs + | 23.23% | 24.84% | 27.28% | 28.50% | 26.70% |
| DIIs + | 28.69% | 26.88% | 24.30% | 22.60% | 23.70% |
| Government + | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
| Public + | 10.00% | 10.19% | 10.35% | 10.82% | 11.51% |
| No. of Shareholders | 30,223 | 26,754 | 32,028 | 37,198 | 45,154 |
Voltamp Transformers Ltd exhibited a stable shareholding structure throughout 2023-2024, with promoters maintaining a consistent 38.00% stake, underscoring their enduring confidence in the company. Foreign Institutional Investors (FIIs) increased their holdings significantly, from 23.23% in December 2023 to a peak of 28.50% by September 2024, before slightly reducing it to 26.70% by December 2024, reflecting strong but dynamic foreign interest. In contrast, Domestic Institutional Investors (DIIs) reduced their stake from 28.69% in December 2023 to 22.60% in September 2024, before recovering to 23.70% by year-end, indicating strategic realignments. Public shareholding gradually rose from 10.00% to 11.51%, highlighting growing retail investor interest in Voltamp Transformers, while government holdings remained unchanged at a minimal 0.07%. Notably, the number of shareholders expanded significantly, growing from 30,223 in December 2023 to 45,154 by December 2024, signaling increased investor engagement and confidence.
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➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| March 2025 | 6,995.77 | 5,381.36 |
| April 2025 | 6,926.50 | 5,328.08 |
| May 2025 | 6,724.76 | 5,172.89 |
| June 2025 | 7,027.38 | 5,405.67 |
| July 2025 | 6,889.58 | 5,299.68 |
| August 2025 | 7,102.66 | 5,463.59 |
| September 2025 | 7,187.90 | 5,529.15 |
| October 2025 | 7,374.78 | 5,672.91 |
| November 2025 | 7,559.15 | 5,814.73 |
| December 2025 | 7,899.31 | 6,076.39 |
In 2025, the share price of Voltamp Transformers is expected to demonstrate steady growth throughout the year. As we approach March 2025, the share price is projected to reach a maximum of ₹6,995.77 and a minimum of ₹5,381.36. Moving towards the end of the year, as we approach December 2025, the share price of Voltamp Transformers is anticipated to peak at a maximum of ₹7,899.31, with a minimum of ₹6,076.39.
| When | Maximum Price | Minimum Price |
| January 2026 | 8,136.29 | 6,258.69 |
| February 2026 | 7,932.88 | 6,102.22 |
| March 2026 | 8,091.54 | 6,224.26 |
| April 2026 | 8,256.68 | 6,351.29 |
| May 2026 | 8,174.93 | 6,288.40 |
| June 2026 | 8,379.30 | 6,445.61 |
| July 2026 | 8,215.00 | 6,319.23 |
| August 2026 | 8,469.07 | 6,514.67 |
| September 2026 | 8,638.45 | 6,644.96 |
| October 2026 | 8,863.05 | 6,817.73 |
| November 2026 | 9,084.63 | 6,988.18 |
| December 2026 | 9,311.74 | 7,162.88 |
As we step into January 2026, the share price is projected to reach a maximum of ₹8,136.29 and a minimum of ₹6,258.69. Progressing through the year, as we step into December 2026, the share price of Voltamp Transformers is anticipated to peak at a maximum of ₹9,311.74, with a minimum of ₹7,162.88.
| When | Maximum Price | Minimum Price |
| January 2027 | 9,404.86 | 7,234.51 |
| February 2027 | 9,646.01 | 7,420.01 |
| March 2027 | 10,022.21 | 7,709.39 |
| April 2027 | 9,825.69 | 7,558.23 |
| May 2027 | 9,539.51 | 7,338.08 |
| June 2027 | 9,968.79 | 7,668.30 |
| July 2027 | 9,773.32 | 7,517.94 |
| August 2027 | 10,075.59 | 7,750.45 |
| September 2027 | 10,428.23 | 8,021.72 |
| October 2027 | 10,699.37 | 8,230.28 |
| November 2027 | 10,966.85 | 8,436.04 |
| December 2027 | 11,241.02 | 8,646.94 |
| When | Maximum Price | Minimum Price |
| January 2028 | 11,465.84 | 8,819.88 |
| February 2028 | 11,759.84 | 9,046.03 |
| March 2028 | 12,218.47 | 9,398.82 |
| April 2028 | 11,978.89 | 9,214.53 |
| May 2028 | 11,629.99 | 8,946.15 |
| June 2028 | 12,153.34 | 9,348.73 |
| July 2028 | 11,915.04 | 9,165.42 |
| August 2028 | 12,283.55 | 9,448.88 |
| September 2028 | 12,713.47 | 9,779.60 |
| October 2028 | 13,044.02 | 10,033.86 |
| November 2028 | 13,370.12 | 10,284.71 |
| December 2028 | 13,704.38 | 10,541.83 |
| When | Maximum Price | Minimum Price |
| January 2029 | 13,978.47 | 10,752.67 |
| February 2029 | 14,336.89 | 11,028.38 |
| March 2029 | 14,896.03 | 11,458.48 |
| April 2029 | 14,603.95 | 11,233.81 |
| May 2029 | 14,178.59 | 10,906.61 |
| June 2029 | 14,816.63 | 11,397.40 |
| July 2029 | 14,526.10 | 11,173.93 |
| August 2029 | 14,975.37 | 11,519.51 |
| September 2029 | 15,499.50 | 11,922.69 |
| October 2029 | 15,902.49 | 12,232.68 |
| November 2029 | 16,300.05 | 12,538.50 |
| December 2029 | 16,707.55 | 12,851.96 |
| When | Maximum Price | Minimum Price |
| January 2030 | 17,041.70 | 13,109.00 |
| February 2030 | 17,478.67 | 13,445.13 |
| March 2030 | 18,160.34 | 13,969.49 |
| April 2030 | 17,804.25 | 13,695.58 |
| May 2030 | 17,285.68 | 13,296.68 |
| June 2030 | 18,063.54 | 13,895.03 |
| July 2030 | 17,709.35 | 13,622.58 |
| August 2030 | 18,257.06 | 14,043.90 |
| September 2030 | 18,896.06 | 14,535.43 |
| October 2030 | 19,387.36 | 14,913.35 |
| November 2030 | 19,872.04 | 15,286.19 |
| December 2030 | 20,368.84 | 15,668.34 |
As we finally reach 2030, the share price of Voltamp Transformers is expected to exhibit significant growth throughout the year. In January 2030, the share price is projected to achieve a maximum of ₹17,041.70 and a minimum of ₹13,109.00. Moving forward, as we approach December 2030, the share price is anticipated to peak at an impressive maximum of ₹20,368.84, with a minimum of ₹15,668.34.
Financial Condition of Voltamp Transformers
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 859 | 692 | 1,127 | 1,385 | 1,616 | 1,814 |
| Expenses + | 744 | 615 | 988 | 1,154 | 1,294 | 1,463 |
| Operating Profit | 114 | 77 | 139 | 231 | 322 | 351 |
| OPM % | 13% | 11% | 12% | 17% | 20% | 19% |
| Other Income + | 9 | 72 | 43 | 40 | 89 | 91 |
| Interest | 1 | 1 | 1 | 1 | 2 | 2 |
| Depreciation | 9 | 9 | 8 | 10 | 11 | 13 |
| Profit before tax | 113 | 140 | 173 | 260 | 398 | 426 |
| Tax % | 21% | 20% | 23% | 23% | 23% | |
| Net Profit + | 89 | 112 | 133 | 200 | 307 | 322 |
| EPS in Rs | 88.35 | 110.92 | 131.3 | 197.63 | 303.8 | 318.38 |
| Dividend Payout % | 28% | 23% | 27% | 30% | 30% |
Voltamp Transformers has exhibited a strong financial trajectory over the years, reflecting its strong market position and operational excellence. The company’s sales revenue has witnessed impressive growth, rising from ₹859 crore in March 2020 to ₹1,616 crore in March 2024, with the trailing twelve months (TTM) reaching ₹1,814 crore. This consistent growth has been accompanied by a significant improvement in operating profit, which increased from ₹114 crore in March 2020 to ₹322 crore in March 2024. The operating profit margin (OPM) has also expanded from 13% to a commendable 20%, showcasing the company’s ability to optimize efficiency and profitability.
In terms of profitability, Voltamp Transformers has shown remarkable progress, with net profit soaring from ₹89 crore in March 2020 to ₹307 crore in March 2024, and further increasing to ₹322 crore in TTM. The earnings per share (EPS) reflect this upward trend, jumping from ₹88.35 in March 2020 to ₹303.80 in March 2024. The company has also benefited from a steady contribution from other income, which saw a significant rise from ₹9 crore in March 2020 to ₹89 crore in March 2024. Despite an increase in overall expenses, Voltamp has managed to maintain proportional growth, underscoring its operational stability and strategic cost management.
Additionally, Voltamp Transformers has consistently rewarded its shareholders with an average dividend payout ratio of 28-30% over the years, reflecting its balanced approach to reinvesting for growth and providing returns.
FAQs
What is Voltamp Transformers current market capitalization?
Voltamp Transformers current market capitalization stands at ₹6,586 Cr.
The share price forecast for Voltamp Transformers. in 2025 is expected to range between ₹7,899.31 at the upper end and ₹5,172.89 at the lower end
The share price forecast for Voltamp Transformers. in 2030 suggests a potential range between ₹20,368.84 at its highest and ₹13,109.00 at its lowest.
What is Voltamp Transformers current Price/Earnings (PE) ratio?
The stock’s Price/Earnings (PE) ratio is currently 20.5.
What is the face value of Voltamp Transformers?
The face value of Voltamp Transformers stock is ₹10.0.
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Conclusion
Voltamp Transformers Ltd has solidified its position as a market leader in the transformer industry through a strong focus on innovation, quality, and sustainability. The company’s stable shareholding patterns, rising foreign investor interest, and growing retail participation underscore investor confidence. Financially, Voltamp has demonstrated consistent growth in sales, profitability, and operational efficiency, with significant improvements in operating profit margin and earnings per share. The promising share price projections from 2025 to 2030 further highlight its growth potential, making Voltamp Transformers a reliable and attractive choice for long-term investors.
I personally do not hold Voltamp Transformers shares at the time of writing.
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