Voltamp Transformers Limited has issued a notice to shareholders regarding the transfer of unclaimed dividends and equity shares to the Investor Education and Protection Fund (IEPF) Authority. This action follows the provisions of the Companies Act, 2013, and the relevant rules notified by the Ministry of Corporate Affairs. The transfer specifically concerns the final dividend declared for the financial year 2018-19, which has remained unclaimed for seven consecutive years.

According to the regulations, all shares in respect of which dividends have not been paid or claimed for seven consecutive years or more are required to be transferred to the demat account of the IEPF Authority. The due date for the transfer of these dividends and shares has been set as August 29, 2026. Individual communications are being sent to the concerned shareholders at their latest available addresses advising them to claim their dividends expeditiously.

The company has made available the details of shareholders, including name, folio number, and equity shares due for transfer, on its official website. Shareholders are requested to verify these details to ensure their records are accurate. The notice emphasizes that shares held in physical form will be considered cancelled and new shares will be issued to the IEPF, while shares in electronic form will be debited from the demat accounts.

Shareholders wishing to claim their unclaimed dividends must submit a request application to the company or its Registrar and Transfer Agent by August 31, 2023. The company has warned that if no response is received by this date, the shares will be transferred to the IEPF without further notice. It was also noted that shares transferred to the IEPF and any future benefits thereon can only be claimed back from the IEPF Authority through the prescribed process.

For any clarification or information regarding the transfer, shareholders have been advised to contact the company's Registrar and Transfer Agent, MUFG Intime India Private Limited. The contact details and specific instructions for claiming dividends have been provided in the notice to assist shareholders in resolving their unclaimed dues before the transfer is executed.

Voltamp Transformers delivered its highest ever annual revenue in FY26, reaching ₹2,153.69 crores, even as Q4 profitability faced pressure from one-time provisions and rising input costs. The company's full-year revenue growth of 11% reflects strong market presence and execution. The audited financial results for the quarter and year ended March 31, 2026, were approved by the Board of Directors on May 05, 2026. In compliance with Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015, the company published extracts of its audited financial results in Business Standard (English) and Vadodara Samachar (Gujarati) on May 06, 2026, as confirmed by Company Secretary & Compliance Officer Sanket Rathod.

FY26 Full-Year Performance

Voltamp Transformers achieved net sales and service revenue of ₹2,153.69 crores during FY26, registering a growth of 11.34% over the previous year's revenue of ₹1,934.23 crores. Full-year operating profit stood at ₹344.21 crores, compared to ₹356.11 crores in the prior year, while the EBITDA margin for the full year came in at 16.50% against 18.93% previously. Full-year EPS stood at ₹301.85 per share versus ₹321.65 in the prior year. The Board of Directors has recommended a final dividend of 1000%, amounting to ₹100 per share for the year, subject to shareholder approval.

The following table presents the key financial metrics for Q4, Q3, and the full year on a year-on-year basis:

Note: Q3 FY26 figures are unaudited; Q4 FY26 and FY26 full-year figures are audited. Segment reporting under IND-AS 108 is not applicable as the company operates in a single segment — Manufacturing of Electrical Transformers.

Q4 Margin Pressures: One-Time and Structural Factors

The EBITDA margin for the March 2026 quarter contracted sharply to 13.17% from 18.63% in the year-ago period, driven by a combination of one-time provisions and structural cost increases. The company made a one-time provision of ₹485.72 lakhs to comply with the revised Labour Code, following the Government of India's notification of four new Labour Codes effective November 21, 2025. An additional one-time provision of ₹5.50 crores was recorded as a target-linked group incentive to employees. Beyond these exceptional items, rupee depreciation increased the cost of imported raw materials, while a steep rise in critical component costs was attributed to vendors prioritising export markets. The ongoing Middle East conflict further escalated input costs for transformer oil.

Other Income Impacted by MTM Losses

Other income for the quarter was adversely affected by investment-related factors, reporting a negative ₹1,005.89 lakhs for Q4 FY26 compared to a positive ₹1,700.41 lakhs in Q4 FY25. As per Ind AS 109, investments are valued at market prices with the difference between cost and market value accounted as part of other income. The net gain/(loss) arising on financial assets designated at fair value through profit and loss (FVTPL) was a loss of ₹2,415.18 lakhs in Q4 FY26, compared to a gain of ₹548.10 lakhs in Q4 FY25. Over the past two years, the company had invested a sizeable portion of funds into long-term government securities and long-duration mutual fund schemes during the peak of the interest rate cycle. However, an increase in long-term GSEC yields during the March quarter resulted in negative MTM gains. The company noted that its investment strategy is guided by a long-term perspective and that the reported losses represent accounting book entries reflecting short-term market volatility.

The following table presents the breakdown of other income and MTM gains/(losses):

Balance Sheet and Cash Flow Highlights

As at March 31, 2026, total assets stood at ₹2,01,796.40 lakhs compared to ₹1,77,566.10 lakhs in the prior year. Total equity attributable to equity holders increased to ₹1,79,180.41 lakhs from ₹1,58,762.01 lakhs. Cash and cash equivalents at the end of the year stood at ₹7,310.08 lakhs, up from ₹3,860.15 lakhs at the start of the year, reflecting a net increase of ₹3,449.93 lakhs. Capital work-in-progress rose significantly to ₹10,844.51 lakhs from ₹342.85 lakhs, reflecting ongoing construction of the new Power Transformer factory. Net cash from operating activities for the year was ₹13,971.15 lakhs, while net cash used in investing activities was ₹98.40 lakhs and net cash used in financing activities, including dividend payments of ₹10,119.38 lakhs, was ₹10,422.82 lakhs.

The following table summarises the key balance sheet metrics:

Order Book, CAPEX, and Land Acquisition

Voltamp Transformers has entered FY27 with a healthy order backlog of ₹1,200 crores (10,270 MVA). New orders worth ₹310 crores (2,107 MVA) were added in April 2026, and the company described its enquiry pipeline as robust. Construction of the new Power Transformer factory is progressing as planned and is expected to be operationalised from July 2026 onwards. Additionally, the Board has approved an investment of ₹25 crores for the acquisition of a new plot of land from Pramukh Developers, Vadodara, Gujarat, to maintain a land bank for future capacity addition, to be funded through internal accruals and completed within six months.