AI Summary
✦ ClarthaVoltamp Transformers is an Indian electrical equipment manufacturer focused on transformers and related systems. Oil-filled and cast-resin transformers anchor revenue, while unitized substations, switchgears, compact substations, and ring main units broaden project demand. June 2026 standalone sales rose 28.4% year-on-year to ₹543.8 crore, indicating stronger near-term execution despite mixed quarterly trends. Service offerings, including refurbishment, diagnostics, retrofits, and spares, support aftermarket monetization. Revenue grew 11.5%, but profit declined 6.2%, with margins compressing and highlighting weaker earnings conversion. ROE is unavailable, while debt-to-equity of 0.03 makes Voltamp effectively net-cash and limits financial leverage. At 31.8x earnings, the stock appears rich versus its recent profit trajectory and trades at a premium to growth. The key open question is whether sales acceleration can reverse margin pressure; neutral sentiment and a Hold view appear appropriate until evidence improves.
Price Forecast
Probabilistic Range
Probabilistic lognormal cone using 1Y realized volatility and analyst-target drift when available.
Revenue Forecast
₹ CrEPS Forecast
₹ / shareMulti-factor synthesis of 5 key dimensions
From 8 analysts
Fundamentals
Fundamentals institutional score is 16 using growth durability 16.0.
Valuation
Valuation institutional score is 35 using relative multiple z-scores where peer dispersion is available.
Analyst Consensus
Analyst View institutional score is 63 using mean target upside 8.3%; dispersion penalty 8.8; recommendation breadth from available consensus.
Technical Structure
Technicals institutional score is 56 using EMA-20 continuation within 5% tolerance; VCP range/volume contraction proxy.
Market Sentiment
Recent news flow is balanced or not decisive enough to tilt the tape. Based on 5 recent ticker-linked news items.
Signal Summary
Market intelligence remains Mixed. Available evidence provides partial support, while fundamentals and valuation remain considerations.
Composite weights: Fundamentals 25%, Valuation 20%, Analyst Consensus 20%, Technical Structure 20%, Market Sentiment 15%.
Key Data Points
Important Note: This is market intelligence, not investment advice. Always conduct your own research and consider your financial goals and risk tolerance.
Valuation Metrics
Trading 20.5% above historical median. Valuation is rising — currently in the overvalued zone (z-score: +0.65). Confidence: 74%.
Live forward EPS implies next-12-month EPS of ₹394.94. Applying the stock's normalized valuation corridor produces a fair range of ₹8,969.09 to ₹12,326.08, with base value near ₹10,469.86 (+4.5% vs current price).
Live forward estimate anchored to the company's historical valuation corridor.
Forward EPS
₹394.94
Forward P/E
25.4x
Base Fair Value
₹10,469.86
Fair Range
₹8,969.09 - ₹12,326.08
Upside To Base
+4.5%
Estimate Source
Live forward EPS
Growth Estimate
+14.7%
5Y Average
20.29
Current
31.95
Overvalued
31.21
Undervalued
22.71
5Y Average
17.85
Current
28.11
Overvalued
26.19
Undervalued
7.42
5Y Average
5.25
Current
5.66
Overvalued
6.03
Undervalued
4.46
Peers & Comparison
Sector: Industrials · Theme: Heavy Electrical Equipments
| Company | Rev. Growth | Margin | P/E | vs Avg | 52W Perf. |
|---|---|---|---|---|---|
ELECON ENG. CO. LTD ELECONHeavy Electrical Equipments | +6.1% | 9.9% | 41.5x Undervalued | -28% vs avg | -19.7% |
TRANS & RECTI. LTD TARILHeavy Electrical Equipments | +8.1% | 10.1% | 34.5x Undervalued | -40% vs avg | -43.2% |
INOX WIND LIMITED INOXWINDHeavy Electrical Equipments | +5.5% | 7.8% | 29.7x Undervalued | -48% vs avg | -47.8% |
TRIVENI TURBINE LIMITED TRITURBINEHeavy Electrical Equipments | +26.3% | 16.0% | 54.7x Fair | -5% vs avg | +23.4% |
TD POWER SYSTEMS LTD. TDPOWERSYSHeavy Electrical Equipments | +69.2% | 12.9% | 83.6x Premium | +45% vs avg | +155.2% |
INOX GREEN ENERGY SER LTD INOXGREENHeavy Electrical Equipments | +80.0% | 40.8% | 66.6x Premium | +16% vs avg | +13.4% |
COCHIN SHIPYARD LIMITED COCHINSHIPShipbuilding | -15.6% | 14.3% | 55.5x Fair | -3% vs avg | -9.5% |
TITAGARH RAIL SYSTEMS LTD TITAGARHRail | -12.9% | 3.9% | 93.6x Premium | +63% vs avg | +9.2% |
VOLTAMP TRANSFORMERS LTD trades at a discount (31.3x vs peer avg 57.5x), suggesting potential undervaluation relative to the Heavy Electrical Equipments cohort. Peers include ELECON ENG. CO. LTD, TRANS & RECTI. LTD, INOX WIND LIMITED — selected based on business model, industry classification, market cap similarity, and business theme alignment.
Financials
Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.
Latest revenue
₹617 CrMar 2026Latest net profit
₹48 CrMar 2026Latest EPS
₹47.35Mar 2026Net margin
10.9%Mar 2026Performance
Bars show revenue and net profit. The line shows net margin.
- Revenue
- Net income
- Net margin %
Earnings
Revenue is shown in crores. EPS is rupees per share.
- Revenue
- EPS
Revenue to profit conversion
Bridge from operating numbers to profit for the latest reported period.
Latest reported period: Mar 2026
Debt level and coverage
Debt, cash and free cash flow compared on the same crore scale.
- Free cash flow
- Cash & equivalents
Results
| Metric | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 440 | 322 | 381 | 408 | 504 | 428 | 398 | 484 | 625 | 424 | 483 | 630 | 617 |
| Expenses | 347 | 274 | 313 | 304 | 403 | 352 | 323 | 384 | 508 | 351 | 389 | 523 | 546 |
| Operating Profit | 90.25 | 45.67 | 66.04 | 102 | 97.4 | 72.82 | 71.82 | 95.66 | 113 | 69.27 | 90.03 | 104 | 67.4 |
| OPM % | 20.52% | 14.17% | 17.32% | 24.94% | 19.32% | 17.01% | 18.06% | 19.78% | 18.05% | 16.35% | 18.66% | 16.49% | 10.92% |
| Other Income | 10.83 | 23.03 | 17.91 | 24.8 | 23.24 | 28.79 | 32.05 | 6.85 | 17 | 35.69 | 14.76 | 26.14 | — |
| Interest | 0.23 | 0.24 | 0.31 | 0.28 | 1.25 | 0.35 | 0.34 | 0.34 | 0.42 | 0.31 | 0.6 | 0.22 | 0.32 |
| Depreciation | 2.58 | 2.32 | 2.74 | 2.96 | 3.35 | 2.97 | 3.17 | 3.39 | 3.64 | 3.37 | 3.53 | 3.79 | 3.91 |
| Profit before tax | 101 | 68.46 | 83.64 | 126 | 119 | 101 | 104 | 102 | 129 | 105 | 104 | 130 | 67.08 |
| Tax % | 24.07% | 25.83% | 18.17% | 25.14% | 21.43% | 21.55% | 26.84% | 28.05% | 25.14% | 23.98% | 24.32% | 23.67% | 28.58% |
| Net Profit | 76.58 | 50.78 | 68.44 | 94.61 | 93.81 | 79.44 | 75.74 | 73.51 | 96.83 | 79.55 | 78.85 | 99.15 | 47.91 |
| EPS in Rs | 75.68 | 50.19 | 67.65 | 93.52 | 92.45 | 78.52 | 74.87 | 72.55 | 95.70 | 78.63 | 77.94 | 97.94 | 47.35 |
All values in Rs. Crore unless otherwise stated. Source: CMIE Prowess, Quarterly Interim Standalone.