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Avalon Technologies Ltd
NSE:AVALON

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Avalon Technologies Ltd
NSE:AVALON
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Price: 862.4 INR -1.32% Market Closed
Market Cap: 57.5B INR

Avalon Technologies Ltd
Investor Relations

Avalon Technologies Ltd. engages in the provision of electronics manufacturing services (EMS). The company is headquartered in Chennai, Tamil Nadu. The company went IPO on 2023-04-18. The firm provides a full stack product and solution suite, right from printed circuit board design and assembly to end-to-end box build of electronic systems, to certain global original equipment manufacturers (OEMs), including OEMs located in the United States, China, Netherlands and Japan. Its other capabilities include cable assembly and wire harnesses, sheet metal fabrication, machining, magnetics and injection molded plastics. Its capabilities include PCB design and assembly, cable assembly and wire harnesses, sheet metal fabrication and machining, magnetics, injection molded plastics and end-to-end box build of electronic systems. The company is specialized in manufacturing and providing design support for critical integrated assemblies, sub-assemblies, components and enclosures for multiple industry verticals.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Nov 6, 2025
AI Summary
Q2 2026

Revenue Growth: Avalon reported strong revenue growth, with Q2 FY '26 revenue up 39% year-over-year and H1 FY '26 revenue up 49% year-over-year.

Guidance Raised: Management raised full-year FY '26 revenue growth guidance to 28%–30% from the earlier 23%–25%, reflecting confidence in business momentum.

Profitability: Profitability improved sharply, with H1 FY '26 EBITDA up 98.5% and PAT up 158.3% year-over-year.

Order Book Strength: The order book as of September 30, 2025, is INR 1,863 crores (up 25.4% YoY), with an additional INR 1,168 crores in long-term contracts.

Gross Margin: Gross margin remained high at 34.3% for Q2 FY '26 and 34.9% for H1 FY '26, at the upper end of guidance.

Dual-Shore Model: Avalon’s U.S. and India manufacturing flexibility is supporting customer needs amid tariff uncertainties and is a key competitive advantage.

Operating Leverage: Management expects operating leverage to support further margin improvements as new programs ramp up in H2 FY '26 and FY '27.

Working Capital: Net working capital improved sequentially and is expected to reach 120–130 days by fiscal year end.

Key Financials
Revenue
INR 382 crores
Revenue (H1 FY '26)
INR 706 crores
Order Book
INR 1,863 crores
Long-term Contracts
INR 1,168 crores
Gross Margin
34.3%
Gross Margin (H1 FY '26)
34.9%
EBITDA
INR 39 crores (Q2 FY '26)
EBITDA (H1 FY '26)
INR 68 crores
PAT
INR 25 crores (Q2 FY '26)
PAT (H1 FY '26)
INR 39 crores
Net Working Capital Days
131 days (September 2025)
Asset Turns
8.7x
Return on Capital Employed (ROCE)
18.4%
Outstanding Debt
INR 128.92 crores
Cash Equivalents and Investments
INR 68.36 crores
Net Debt
INR 60.56 crores
CapEx (Q2 FY '26)
INR 14.8 crores
CapEx (H1 FY '26)
INR 24.4 crores
Other Earnings Calls

Management

Mr. Kunhamed Bicha
Chairman & MD
No Bio Available
Dr. Rajesh Vijayakumar
Company Secretary, Compliance Officer & Legal Head
No Bio Available
Mr. Bhaskar Srinivasan
Non-Executive Director
No Bio Available
Mr. Shamil Bicha
Vice President of Business Development
No Bio Available
Mr. Suresh Veerappan
Chief Financial Officer
No Bio Available
Mr. Shriram Vijayaraghavan
Chief Operating Officer
No Bio Available
Mr. Venky Venkatesh
Chief Sales Officer
No Bio Available
Mr. Michael A. Rajkovic
General Manager of Human Resources
No Bio Available
Mr. Michael Robinson
Chief Operating Officer of US Operations
No Bio Available
Mr. O. J. Sathish
VP & CEO of Sienna ECAD Technologies Pvt. Ltd
No Bio Available

Contacts

Address
TAMIL NADU
Chennai
First Main Road, Mepz, Tambaram, B 7
Contacts
+914442220400
www.avalontec.com