Shares of Voltamp Transformers experienced a 20% decline, reaching a low of ₹10,046 on the Bombay Stock Exchange (BSE) after the company reported disappointing financial results for the March quarter of the financial year 2026. The company's net profit plummeted to ₹48 crore, halving from ₹97 crore in the same quarter last year. Revenue from operations also fell by 1% to ₹617.22 crore, reflecting a challenging market environment. The EBITDA margin saw a significant drop to 13.17%, down from 18.63% in Q4 FY25, primarily due to increased costs associated with imported raw materials and a rise in transformer oil prices, exacerbated by geopolitical tensions in the Middle East. Additionally, one-time provisions related to compliance with the revised Labour Code and employee incentives further impacted profitability. Despite these challenges, Voltamp enters FY27 with a solid order backlog of ₹1,200 crore and has recently secured orders worth ₹310 crore in April 2026. The company is also progressing on a new power transformer facility, set to be operational by July 2026, and has approved an investment of ₹25 crore for land acquisition near Vadodara.