Avalon Technologies Ltd
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]
- 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 |
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| Net Working Capital Days Days |
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| Box-build Revenue Contribution % |
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| Number of Manufacturing Units Number |
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| Revenue from India Market Customers % |
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| Revenue from US Market Customers % |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
6h - Audio recording of Q4 and FY2026 earnings call available on Avalon Technologies website.
- Results - Financial Results For The Quarter And Year Ended March 31, 2026 1d
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
1d - Avalon Technologies reported Q4 FY26 revenue of ₹479.9 crore and FY26 PAT of ₹112.9 crore.
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Announcement under Regulation 30 (LODR)-Investor Presentation
1d - Investor Presentation for the Quarter and Year Ended March 31, 2026.
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Board Meeting Outcome for The Meeting Held On May 06, 2026
1d - Board approved FY26 audited standalone and consolidated results; allotted 21,534 ESOP shares on May 6, 2026.
Annual reports
Concalls
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May 2026TranscriptAI SummaryPPT
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT
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Aug 2025Transcript PPT
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT
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May 2024TranscriptPPTREC
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May 2024Transcript PPT
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Feb 2024Transcript PPT REC
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Nov 2023Transcript PPT REC
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Aug 2023Transcript PPT REC
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Jun 2023TranscriptPPT
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Jun 2023Transcript PPT
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May 2023TranscriptAI SummaryPPT
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.