Voltamp Transformers Ltd Summary

Voltamp Transformers Ltd is a leading transformer manufacturing company in India. The company is offering distribution transformers, power transformers and dry type transformers, in which the distribution and power transformers are oil-filled transformers. Their manufacturing facility is located at Makarapura in Vadodara. They have four independent units each for oil filled power transformer, oil filled distribution transformer, resin impregnated dry type transformer and cast resin type transformer.Voltamp Transformers Ltd was established in the year 1963 in Vadodara. The company was jointly promoted by the families of Lalitkumar H Patel, Babubhai H Patel and Navinchandra R Patel to manufacture transformers. In the year 1970, they commenced manufacture of transformer upto 10,000 KVA, 66 KV for utilities and industrial clients. In the year 1981, the company commenced manufacture of 132 KV Class Transformer and in the year 1986, they started manufacture of 50 MVA, 132 KV Class Power Transformers.In the year 1998, the company entered into technical license with Mora Tranformatoren GmbH, Germany for manufacturing Vacuum Resin Impregnated Dry Type Transformers. In the year 2000, they started to manufacture Induction Furnace Transformers. Also, they divested their stake of 1,520,000 shares in their subsidiary, Voltamp Transformer (South) Pvt Ltd to Patson Transformers Pvt Ltd. Thus Voltamp Transformer (South) Pvt Ltd ceased to be a subsidiary company.In the year 2002, the company entered into a technical license with German based Hochspannungstechnik und Transformatorbau GmbH for manufacturing Cast Resin Dry Type Transformers. The company increased the installed capacity to 5400 MVA in the financial year 2005-06 from 3000 MVA in the financial year 2002-03.During the year 2006-07, the company increased the manufacturing capacity from 5400 MVA to 7200 MVA. In September 2006, the company completed their initial public offering, which was oversubscribed 17 times.During the year 2007-08, the company made their investment in factory building, plant & machinery and testing equipments which resulted into overall installed capacity getting increased from 7200 MVA to 9000 MVA. Also, the company is setting up a transformer manufacturing facility at Vadadla in Vadodara, with an investment of about Rs 35 crore. This plant will begin their operations from April 2009.In 200-10, the Company set up a new factory at Village Vadadla, Dist. Vadodara, which became operational from November, 2009. And accordingly, with this expansion, total installed capacity of the Company went upto 13000 MVA per annum.During year 2010-11, Company had installed most modern lightning impulse testing system, fully automatic and digital analysis system from HIGH VOLTS, Germany.During the year 2018-19, the Company expanded its product with manufacture and testing of prototype of RING MAIN UNIT (RMU).On 11th May, 2020, the Board of Directors of the Company approved a Scheme of Amalgamation between Voltamp Transformers Limited (VTL or Company) and Kunjal Investments Private Limited (KIPL), which contemplates the amalgamation of KIPL with the Company and dissolution without winding up of KIPL pursuant thereto. Subsequent to Order of the Honble National Company Law Tribunal (NCLT) Ahmedabad bench, pronounced on 16th August, 2021, the process of amalgamation of Kunjal Investments Private Limited (KIPL) with Voltamp Transformers Limited (VTL) got completed during the year 2021-22 and the Scheme was effective filed with Registrar of Companies on 20th August 2021. Consequently upon amalgamation, equity shareholding of 4344474 equity shares of Kunjal Investments Private Limited in the Company was cancelled and the promoters of Kunjal Investments Private Limited, Mr. Kunjal L Patel and Mrs. Taral K Patel, were allotted 43,23,835 and 20,639 equity shares of the Company, respectively.