Capital Goods - Electrical Equipment · VAMP
Capital Goods - Transformers
from 9,950 today
We maintain our Accumulate rating on the stock, valuing the stock at P/E of 27x Mar'28E with a TP of INR 11,003, supported by strong demand visibility, disciplined order selection, improving order economics and capacity expansion.
Voltamp Transformers reported a strong 1QFY27 performance with revenue increasing 28.4% YoY, while EBITDA margin contracted by 238bps YoY due to higher input costs and supply chain disruptions. Management remains confident of delivering healthy volume growth in FY27, backed by a strong enquiry pipeline, prompting us to retain our 'Accumulate' rating with a revised target price of Rs11,003.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
