Buy Voltamp Transformers; target of Rs 1317: Arihant Capital

November 26
15:25 2019

Arihant Capital ‘s research report on Voltamp Transformers

Voltamp Transformers reported good set of numbers in Q2FY20, mostly in line with our estimate except a miss on revenue front. Revenue for the quarter stood at Rs 1,949 mn, below our estimate of Rs 2,130 mn, registering +3.1% YoY/4.0% QoQ growth. Despite higher employee costs and other expenses, Voltamp was able to expand its margin by 74bps YoY to 10.8%, which is commendable.


We are positive on Voltamp from longer term perspective owing to its debt free status, free cash flow generation and impressive return ratios. Maintain Buy with revised TP of Rs 1,317.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.

Related Articles