Ambika Cotton Mills Q2 FY2026 Results: Net Profit ₹15.94 Cr, Revenue ₹199.64 Cr; Strong Operational Cash Flow of ₹167.9 Cr
8 Nov 2025
Voltamp Transformers Limited - Power and Distribution Transformer Manufacturing Facility
📊 Stock Analysis
Complete financial analysis with key metrics and investment outlook
Voltamp Transformers Q2 FY2026 Financial Results
Voltamp Transformers Limited (NSE: VOLTAMP, BSE: 532757) announced its financial results for the quarter and half year ended September 30, 2025, showcasing solid revenue growth, a strong order book, and sustained profitability.
Stock Performance & Key Metrics
As of November 7, 2025:
- Current Price: ₹7,158 (up 0.97%)
- Market Cap: ₹7,242 Crores
- Stock P/E: 22.0 (Industry P/E: 48.0)
- 52-Week Range: ₹11,548 / ₹5,900
- Book Value: ₹1,626 per share
- Dividend Yield: 1.40%
- ROCE: 29.1%
- ROE: 21.7%
- Face Value: ₹10
- EPS: ₹325
- Debt-to-Equity: 0.00
- Total Debt: ₹1.35 Cr
Q2 FY2026 Financial Highlights
Standalone Quarterly Performance (₹ in Crores)
| Particulars | Q2 FY26 | Q2 FY25 | YoY Growth | Q1 FY26 |
|---|---|---|---|---|
| Net Sales & Service Income | 482.56 | 397.74 | +21% | 423.58 |
| Other Income | 14.77 | 32.05 | -54% | 35.69 |
| Total Income | 497.33 | 429.79 | +16% | 459.27 |
| Net Profit Before Tax | 104.19 | 103.52 | +1% | 104.65 |
| Operating Profit | 90.00 | 72.53 | +24% | 69.44 |
| EBITDA Margin | 19.39% | 18.85% | — | 17.15% |
> ⚠️ Note: Invoicing for around ₹10.1 Cr (55 MVA) was reversed on the last day of the quarter due to site inaccessibility from heavy rains.
H1 FY26 Performance (₹ in Crores)
| Particulars | H1 FY26 | H1 FY25 | Growth |
|---|---|---|---|
| Net Sales & Services | 906.14 | 825.89 | +10% |
| Total Income | 956.60 | 886.72 | +8% |
| Net Profit Before Tax | 208.84 | 204.79 | +2% |
| Operating Profit | 159.44 | 145.45 | +10% |
| EBITDA Margin | 18.34% | 18.26% | Stable |
Strategic & Operational Highlights
1. Investment Income and Market Yields
- Q2 Investment Income: ₹14.19 Cr (down 54% YoY)
- Breakdown:
- Interest Income: ₹9.05 Cr
- Capital Gains: ₹4.07 Cr
- MTM Gains (FVTPL): ₹1.07 Cr
- Other income declined due to softer bond yields and normalization of MTM gains after record highs in FY25.
2. Demand Outlook and Market Scenario
- India’s power and infrastructure capex remains robust, with new investments exceeding ₹34 trillion in H1 FY26.
- Private sector capex surged 41% YoY, led by manufacturing and electricity projects.
- Transformer demand outlook remains strong, driven by:
- Grid modernization
- Renewable energy integration
- Electrification and industrial growth
Voltamp benefits from its robust supply chain, ensuring timely deliveries without penalties despite material cost challenges.
3. Manufacturing Milestone
The company successfully produced and dispatched its highest-rated transformer to date — 160 MVA / 220 kV class, ahead of schedule, marking a significant milestone in its manufacturing capability.
4. Capacity Expansion
- Greenfield EHV Transformer Plant: Construction progressing on schedule, expected completion by June 2026.
- Capex Invested (till date): ₹82.82 Crores.
5. Order Book & Revenue Visibility
- Opening FY26 Order Book: ₹938 Cr (7,904 MVA)
- New Orders Secured: ₹1,377 Cr (11,442 MVA)
- Orders Awaiting Confirmation: ₹92 Cr (1,488 MVA)
- Strong order visibility ensures achievement of current year revenue targets.
6. Management & Governance Updates
- Mr. Vijay Gupta promoted as Chief Operating Officer (COO).
- Mr. Kunjal Patel (Vice Chairman & MD) sold 8% of stake to institutional investors; retains 30% promoter holding and remains in full-time executive role.
- Next-gen succession: Mr. Jwalin Patel (Duke University graduate) joined as Management Trainee under a structured two-year program.
Business Outlook
Voltamp continues to maintain a debt-free balance sheet, high liquidity, and consistent cash generation. Strong industrial capex, power grid expansion, and renewable projects provide multi-year growth visibility.
> The company expects sustained demand for transformers with margins stabilizing as industry capacity expands.
*Results approved by the Board on November 8, 2025 | Source: Company Filing and Press Release (NSE/BSE)*
