Buy Voltamp Transformers, target price Rs 4920: Rajesh Palviya

Rajesh Palviya of Axis Securities has buy call on Voltamp Transformers with a target price of Rs 4920. The current market price of Voltamp Transformers is Rs 4580.2. Rajesh Palviya recommended to keep stop loss at Rs 4300.

Voltamp Transformers, incorporated in the year 1967, is a Small Cap company (having a market cap of Rs 4631.47 Crore) operating in Power sector.

Voltamp Transformers key Products/Revenue Segments include Transformers, Sale of services and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Standalone Total Income of Rs 450.69 Crore, up 21.42 % from last quarter Total Income of Rs 371.20 Crore and up 14.10 % from last year same quarter Total Income of Rs 395.01 Crore. Company has reported net profit after tax of Rs 76.57 Crore in latest quarter.

The company’s top management includes Mr.Kanubhai S Patel, Mr.Kunjalbhai L Patel, Mrs.Taral K Patel, Mr.Hemant P Shaparia, Ms.Paulomi J Lashkari. Company has CNK & Associates LLP as its auditors. As on 30-06-2023, the company has a total of 1 Crore shares outstanding.

Investment Rationale
Daily chart “multiple resistance” breakout at 4350,along with huge volumes.

Promoter/FII Holdings
Promoters held 50.0 per cent stake in the company as of 30-Jun-2023, while FIIs owned 14.09 per cent, DIIs 25.68 per cent.