Avalon Technologies Ltd

Avalon Technologies Ltd

₹ 1,256 9.10%
07 May - close price
About

Incorporated in 1999, Avalon Technologies Limited is a leading fully integrated Electronic Manufacturing Services ("EMS") company with end-to-end capabilities in delivering box-build solutions, focusing on high-value precision-engineered products.[1]

Key Points

Business Area[1] They provide a full stack product and solution suite, from printed circuit board (“PCB”) design and assembly to the manufacture of complete electronic systems (“Box Build”), to global OEMs across the United States, China, Netherlands, and Japan.

  • Market Cap 8,381 Cr.
  • Current Price 1,256
  • High / Low 1,318 / 774
  • Stock P/E 74.2
  • Book Value 108
  • Dividend Yield 0.00 %
  • ROCE 19.5 %
  • ROE 16.9 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 39.9% CAGR over last 5 years

Cons

  • Stock is trading at 11.6 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 11.0% over last 3 years.
  • Promoter holding has decreased over last 3 years: -26.3%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
272 235 201 214 217 199 275 281 343 323 382 418 480
231 219 188 198 200 195 245 246 301 293 344 370 423
Operating Profit 41 16 13 17 17 4 30 35 41 30 39 48 57
OPM % 15% 7% 6% 8% 8% 2% 11% 12% 12% 9% 10% 11% 12%
4 5 5 2 3 4 4 10 3 2 8 7 12
Interest 10 6 3 4 4 4 4 5 4 4 4 3 4
Depreciation 5 5 6 6 6 7 7 7 8 8 9 8 8
Profit before tax 30 10 9 9 10 -2 23 33 33 19 34 44 56
Tax % 25% 32% 15% 27% 29% 14% 25% 27% 25% 26% 26% 27% 27%
23 7 7 7 7 -2 17 24 24 14 25 33 41
EPS in Rs 3.92 1.08 1.11 1.00 1.07 -0.35 2.65 3.63 3.67 2.14 3.74 4.88 6.16
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
642 690 841 945 867 1,098 1,603
577 624 743 832 805 983 1,430
Operating Profit 64 66 98 113 63 115 173
OPM % 10% 10% 12% 12% 7% 10% 11%
11 5 31 14 15 17 29
Interest 45 27 25 35 16 17 15
Depreciation 16 16 18 20 23 29 34
Profit before tax 15 29 86 73 38 87 154
Tax % 19% 20% 21% 28% 26% 27% 26%
12 23 67 52 28 63 113
EPS in Rs 754.25 1,345.65 3,958.05 9.06 4.26 9.59 16.92
Dividend Payout % 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 18%
3 Years: 19%
TTM: 46%
Compounded Profit Growth
10 Years: %
5 Years: 40%
3 Years: 29%
TTM: 88%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 52%
1 Year: 54%
Return on Equity
10 Years: %
5 Years: 14%
3 Years: 11%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 2 2 2 12 13 13 13
Reserves 45 58 87 525 534 598 708
274 316 318 342 209 180 213
129 136 183 310 168 246 330
Total Liabilities 450 512 589 1,189 923 1,038 1,264
99 104 114 128 147 185 192
CWIP 3 0 2 15 20 10 24
Investments 2 0 0 0 75 35 81
346 408 473 1,046 681 808 967
Total Assets 450 512 589 1,189 923 1,038 1,264

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
66 6 16 -13 17 25 0
-19 -27 -18 -25 -146 54 0
-42 28 -21 452 -251 -52 0
Net Cash Flow 4 7 -24 414 -380 26 0
Free Cash Flow 49 -14 -2 -41 -18 -21 0
CFO/OP 109% 14% 29% 5% 54% 39% 0%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 65 96 77 80 79 105 87
Inventory Days 138 117 153 194 209 175 161
Days Payable 121 102 78 87 64 98 87
Cash Conversion Cycle 82 111 152 187 223 182 160
Working Capital Days -46 -17 18 18 106 104 102
ROCE % 18% 24% 17% 6% 13% 20%

Insights

In beta
Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Order Book
INR Cr

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Asset Turnover
x
Net Working Capital Days
Days
Box-build Revenue Contribution
%
Number of Manufacturing Units
Number
Revenue from India Market Customers
%
Revenue from US Market Customers
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
51.24% 51.09% 50.98% 50.91% 50.88% 50.69% 50.58% 50.57% 44.60% 44.46% 44.42% 44.41%
12.47% 9.23% 5.70% 2.43% 2.56% 2.97% 5.39% 7.13% 8.67% 10.04% 7.56% 6.42%
16.58% 16.28% 17.07% 22.47% 23.19% 23.75% 20.87% 17.32% 22.01% 22.84% 25.40% 26.17%
19.71% 23.39% 26.27% 24.19% 23.38% 22.59% 23.16% 24.99% 24.72% 22.65% 22.61% 22.98%
No. of Shareholders 27,61255,32971,38870,43165,29657,38859,70363,00761,74361,06457,29065,594

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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