AVALON

Avalon Technologies Limited

Electronics Manufacturing Services provider with global delivery model

Industrials›Capital Goods›Electrical Equipment›Other Electrical Equipment

avalontec.com(opens the company website in a new tab)
Ask AI

Key metrics

Price as of 2026-10-16

Stock price
₹1987.30
Market cap
13,275 Cr
Stock P/E
99.4
P/B
18.40
Dividend yield
0.0%
ROE (FY26)
15.6%
ROCE (FY26)
18.6%
Operating margin (FY26)
8.7%
Debt / equity (FY26)
0.25
OCF / EBITDA (FY26)
33.0%
OCF / EBITDA (3Y)
28.4%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

Loading price history…

Compare with peers

Loading peers…

What you need to know

Avalon (Avalon Technologies) is an electronics manufacturing services (EMS) company that designs and builds electronic products and complete box-build systems for other companies in clean energy, mobility, industrial, communication and medical markets.

Company snapshot

7thBy market cap

Ranked among 32 companies in Other Electrical Equipment.

What we see

Positives
  • ✓Debt-to-equity of 0.25x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Only 28% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales201 Cr214 Cr217 Cr199 Cr275 Cr281 Cr343 Cr323 Cr382 Cr418 Cr480 Cr484 Cr
Operating expenses (approx.)188 Cr198 Cr200 Cr195 Cr245 Cr246 Cr301 Cr293 Cr344 Cr370 Cr423 Cr426 Cr
EBITDA13 Cr17 Cr17 Cr4 Cr30 Cr35 Cr41 Cr30 Cr39 Cr48 Cr57 Cr58 Cr
OPM %6.3%7.7%7.9%2.2%11.0%12.3%12.1%9.2%10.1%11.5%11.8%12.0%
Other income5 Cr2 Cr3 Cr4 Cr4 Cr10 Cr3 Cr2 Cr8 Cr7 Cr12 Cr3 Cr
Interest3 Cr4 Cr4 Cr4 Cr4 Cr5 Cr4 Cr4 Cr4 Cr3 Cr4 Cr3 Cr
Depreciation6 Cr6 Cr6 Cr7 Cr7 Cr7 Cr8 Cr8 Cr9 Cr8 Cr8 Cr9 Cr
Profit before tax9 Cr9 Cr10 Cr-2 Cr23 Cr33 Cr33 Cr19 Cr34 Cr44 Cr56 Cr49 Cr
Tax %15.2%27.5%29.0%-14.5%25.4%26.7%25.5%26.4%25.6%26.7%26.9%28.5%
Net profit7 Cr7 Cr7 Cr-2 Cr17 Cr24 Cr24 Cr14 Cr25 Cr33 Cr41 Cr35 Cr
EPS (₹)₹1.11₹1.00₹1.08₹-0.35₹2.65₹3.63₹3.67₹2.14₹3.75₹4.89₹6.16₹5.22

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales642 Cr690 Cr841 Cr945 Cr867 Cr1,098 Cr1,603 CrSign in free for the trailing twelve months
Operating expenses (approx.)577 Cr624 Cr743 Cr832 Cr805 Cr983 Cr1,430 CrSign in free for the trailing twelve months
EBITDA64 Cr66 Cr98 Cr113 Cr62 Cr115 Cr173 CrSign in free for the trailing twelve months
OPM %10.0%9.6%11.6%11.9%7.2%10.5%10.8%Sign in free for the trailing twelve months
Other income11 Cr5 Cr11 Cr14 Cr15 Cr17 Cr29 CrSign in free for the trailing twelve months
Interest45 Cr27 Cr25 Cr35 Cr16 Cr17 Cr15 CrSign in free for the trailing twelve months
Depreciation16 Cr16 Cr17 Cr20 Cr23 Cr29 Cr34 CrSign in free for the trailing twelve months
Profit before tax15 Cr29 Cr86 Cr73 Cr38 Cr87 Cr154 CrSign in free for the trailing twelve months
Tax %19.4%19.9%21.1%27.8%26.5%26.8%26.5%Sign in free for the trailing twelve months
Net profit12 Cr23 Cr68 Cr53 Cr28 Cr63 Cr113 CrSign in free for the trailing twelve months
EPS (₹)₹2.21₹4.01₹11.30₹9.27₹4.29₹9.62₹16.95Sign in free for the trailing twelve months
Dividend payout %———0.0%14.8%8.2%0.5%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital2 Cr2 Cr2 Cr12 Cr13 Cr13 Cr13 Cr
Reserves45 Cr58 Cr86 Cr525 Cr534 Cr598 Cr708 Cr
Borrowings248 Cr295 Cr294 Cr306 Cr164 Cr142 Cr183 Cr
Other liabilities198 Cr189 Cr207 Cr337 Cr219 Cr287 Cr359 Cr
Total liabilities450 Cr512 Cr588 Cr1,180 Cr931 Cr1,040 Cr1,264 Cr
Fixed assets (net)72 Cr83 Cr89 Cr91 Cr104 Cr147 Cr162 Cr
CWIP3 Cr—2 Cr15 Cr20 Cr10 Cr24 Cr
Investments2 Cr——34 Cr75 Cr35 Cr81 Cr
Inventories155 Cr146 Cr233 Cr318 Cr316 Cr338 Cr463 Cr
Trade receivables114 Cr182 Cr177 Cr206 Cr187 Cr316 Cr381 Cr
Cash & bank25 Cr31 Cr8 Cr422 Cr42 Cr69 Cr71 Cr
Other assets79 Cr70 Cr78 Cr94 Cr186 Cr124 Cr82 Cr
Total assets450 Cr512 Cr588 Cr1,180 Cr931 Cr1,040 Cr1,264 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity66 Cr6 Cr14 Cr-13 Cr17 Cr25 Cr57 Cr
Cash from investing-19 Cr-26 Cr-17 Cr-27 Cr-146 Cr54 Cr-64 Cr
Cash from financing-42 Cr28 Cr-21 Cr454 Cr-251 Cr-52 Cr8 Cr
Net cash flow4 Cr7 Cr-24 Cr414 Cr-380 Cr26 Cr2 Cr
Free cash flow (OCF − Capex)49 Cr-14 Cr-2 Cr-13 Cr-18 Cr-21 Cr4 Cr

Ratios

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %23.9%17.3%29.2%12.7%7.7%13.7%18.6%
ROE %334.9%76.2%72.4%9.8%5.1%10.4%15.6%
Debtor days659677797910587
Inventory days132122151185209171152
Days payable11610777135649683
Cash conversion cycle81111151130223180156
OCF / EBITDA %101.9%8.3%14.2%-11.8%27.7%21.8%33.0%
OCF / EBITDA % (3 years)——37.3%2.2%6.5%10.0%28.4%
Debt / equity72.1110.473.370.570.300.230.25
Current ratio0.851.001.131.892.532.222.05
Net debt / EBITDA3.473.992.93-1.031.950.630.65
Avalon Technologies Limited (AVALON) Financials | BullKarma