Shares of Voltamp Transformers Ltd plunged 20 per cent in Tuesday's afternoon trade to hit a low of Rs 10,016 after the company released its fourth quarter (Q4 FY26) results. The stock was last seen trading 18.61 per cent lower at Rs 10,190. Despite the sharp fall, the stock remains up 43.73 per cent over the past six months.

The decline in share price followed a weak operational performance, with the Vadodara-based company's operating profit falling 30 per cent year-on-year (YoY) to Rs 79.77 crore in Q4 FY26, compared to Rs 114.01 crore in the same period last year.

EBITDA margin contracted to 13.17 per cent in the March 2026 quarter from 18.63 per cent a year ago. The margins were impacted by one-time provisions, including Rs 4.85 crore to comply with the revised Labour Code and Rs 5.50 crore towards a target-linked group incentive for employees.

"Rupee depreciation increased the cost of imported raw materials. Also, steep increase in critical components cost, with vendors chasing export markets and passing on their increased cost burden," Voltamp stated.

"Ongoing Middle East conflict steeply escalated input cost of transformer oil," it added.

Revenue from operations slipped marginally by 1 per cent to Rs 617.22 crore in Q4 FY26.

For the full financial year FY26, the company reported net sales and service revenue of Rs 2,153.68 crore, marking an 11.34 per cent increase over Rs 1,934.23 crore in the previous year.

"During FY:2025-26: the Company achieved net sales and service revenue of Rs 2,153.68 crore, registering a growth of 11.34 per cent over the previous year's revenue of Rs 1,934.23 crore," the company said.

"This increase reflects the Company's strong market presence, timely execution and ever-expanding loyal customer base," it added.

Alongside the results, Voltamp's board recommended a final dividend of 1,000 per cent, or Rs 100 per share, for FY26, subject to shareholders' approval.

Sharing a capex update, the company noted that construction of its new power transformer factory is progressing as planned and is expected to be operationalised from July 2026 onwards.

"The Board of Directors of the Company has approved an investment of Rs 25 crore for the acquisition of a new plot of land near Vadodara to keep a land bank ready for future use. It will be funded through internal accruals," the company said.