Avalon Technologies
- Market cap
- ₹ 12,418 Cr.
- P/E
- 92.9x
- P/B
- 18.35x
- 52-week range
- 777.3 – 2,618
- ROE
- 17%
- ROCE
- 20%
- Dividend yield
- 0%
- Debt / equity
- 0.3
- Sector
- Electrical Equipment
- Industry
- Other Electrical Equipment
- Listed on
- NSE, BSE
About
Avalon Technologies Limited is an India-based integrated electronic manufacturing services (EMS) company with end-to-end capabilities in delivering box build solutions. It offers a range of capabilities, including printed circuit board (PCB) design and assembly, cable and wire harness manufacturing, sheet metal fabrication, machining, injection molded plastics, and magnetics. The Company offers telecom and fifth generation (5G) solutions such as Remote Radio Heads (RRH), antennas, and Base Band Units (BBU), satellite systems including base station antenna systems, digital antennas and control panels, along with digital infrastructure solutions like fleet management, vehicle tracking, and vision systems. The Company caters to various industries, such as the clean energy sector, railway, automotive, communication, and aerospace. Its manufacturing facilities are located in Chennai and Bangalore, India and in Atlanta and Fremont, the United States.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Other Electrical Equipment: 83 companies →Avalon Technologies against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)92.9 against a typical 25.2: pricier than most peers (1st = cheapest).73rd of 80
- Sales growth+49.8% against a typical +32% from a year earlier.25th of 69
- Profit growth+150% against a typical +15.9% from a year earlier.12th of 64
- Share price, 3 months+29.1% against a typical −9.9%.9th of 74
- Size₹ 12,418 Cr. market value against a typical ₹ 553.8 Cr. (1st = largest).7th of 77
Latest announcements
Exchange filings and their impact on the company.
- Board approves Rs 425 cr preferential warrants at Rs 2,193.20, about 18% above market price.
Avalon Technologies board on Oct 27, 2026 approved a preferential issue of up to 19,37,808 warrants at Rs 2,193.20 each to raise up to Rs 425 crore, each warrant convertible into one Rs 2 equity share within 18 months. The issue needs shareholder approval at an EGM on Nov 21, 2026 and requires an Articles change, with Crisil Ratings appointed as monitoring agency. Priced about 18% above the Rs 1,855 market price, the funds would materially boost net worth if fully subscribed and converted.
- Avalon incorporated Zollner Avalon as a JV vehicle where Zollner will own 51%.
Avalon Technologies incorporated Zollner Avalon Private Limited on October 19, 2026 as a wholly owned subsidiary. Following incorporation, Zollner will subscribe for 51% of its paid-up capital, making it a joint venture with Avalon holding 49%. The move formalizes the JV disclosed on September 3, 2026, with no meaningful near-term financial impact but positive long-term strategic potential.
- Avalon gets Crisil ESG 58 (Adequate) rating with no near-term financial impact.
Avalon Technologies said Crisil ESG Ratings & Analytics has assigned it a Crisil ESG 58 score in the Adequate category. The rating was assigned voluntarily based on FY 2025-26 disclosures and public information. It carries no financial terms and does not change the company's near-term business outlook.
- Avalon leased SIPCOT land at Oragadam for a new unit, signalling future capacity growth with only capex outflow in the next year.
Avalon Technologies has signed a lease deed with SIPCOT for land at Plot A-53 and A-54 in the SIPCOT Industrial Park at Oragadam, Tamil Nadu. The company said the land is for setting up an industrial unit, but did not disclose the plot size, lease value, investment or timelines. This secures land for future expansion, with construction spending likely over the next year and revenue benefits only after the plant is built and commissioned.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Adequate safety
Rated A to A- by 2 agencies- All agencies agree and none has raised a warning.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CRISIL | Crisil A | Stable | 17 Apr 2026 |
| India Ratings | IND A-; IND A1 | Positive | 29 Jan 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 17 Apr 2026 | New rating | Crisil A | — | CRISIL | ₹ 140 Cr. | |
| 29 Jan 2026 | Rating action | IND A- | — | India Ratings | ₹ 141.5 Cr. |
Fund raises
QIPs, preferential issues, warrants and rights issues, one row per filing, newest first. Open a row for details. All fund raise updates
| Stage | Details | |||||
|---|---|---|---|---|---|---|
| 27 Oct 2026 | Warrants | Board approved | ₹ 425 Cr. | ₹ 2,193.2 | −6.76% |
Research by Minerva Capital Research Solutions
Our research team's work on Avalon TechnologiesAlso covered in
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 27 Oct 2026 | Fund Raising | To consider Alteration of Articles of Association and Fund Raising, as detailed in the Disclosure enclosed herewith. |
| 4 Aug 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 6 May 2026 | Financial Results | To consider and approve the financial results for the Quarter and Financial Year ended March 31, 2026 |
| 4 Feb 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 5 Nov 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 2025 |
| 5 Aug 2025 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2025 |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 201 | 214 | 217 | 199 | 275 | 281 | 343 | 323 | 382 | 418 | 480 | 484 |
| Expenses | 188 | 198 | 200 | 195 | 245 | 246 | 301 | 293 | 344 | 370 | 423 | 426 |
| Operating Profit | 13 | 17 | 17 | 4 | 30 | 35 | 41 | 30 | 39 | 48 | 57 | 58 |
| OPM % | 6% | 8% | 8% | 2.2% | 11% | 12% | 12% | 9% | 10% | 11% | 12% | 12% |
| Other Income | 5 | 2 | 3 | 4 | 4 | 10 | 3 | 2 | 8 | 7 | 12 | 3 |
| Interest | 3 | 4 | 4 | 4 | 4 | 5 | 4 | 4 | 4 | 3 | 4 | 3 |
| Depreciation | 6 | 6 | 6 | 7 | 7 | 7 | 8 | 8 | 9 | 8 | 8 | 9 |
| Profit before tax | 9 | 9 | 10 | −2 | 23 | 33 | 33 | 19 | 34 | 44 | 56 | 49 |
| Tax % | 15% | 27% | 29% | 14% | 25% | 27% | 25% | 26% | 26% | 27% | 27% | 28% |
| Net Profit | 7 | 7 | 7 | −2 | 17 | 24 | 24 | 14 | 25 | 33 | 41 | 35 |
| EPS in Rs | 1.11 | 1 | 1.07 | −0.35 | 2.65 | 3.63 | 3.67 | 2.14 | 3.74 | 4.88 | 6.16 | 5.22 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 18%
- 3 Years
- 19%
- TTM
- 44%
- 10 Years
- —
- 5 Years
- 40%
- 3 Years
- 29%
- TTM
- 67%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- 66%
- TTM
- —
- 10 Years
- —
- 5 Years
- 14%
- 3 Years
- 11%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Avalon Technologies | ₹ 2,045.00 | ₹ 12,418 Cr. | 92.9x | 18.4x | 17% | — |
| ABB India | ₹ 6,140.00 | ₹ 1,29,936 Cr. | 95.2x | 20.3x | — | 11.6% |
| Hitachi Energy India | ₹ 26,250.00 | ₹ 1,17,002 Cr. | 139x | 27.6x | 21% | 12.1% |
| CG Power and Industrial Solutions | ₹ 814.95 | ₹ 1,24,592 Cr. | 114.8x | 17.9x | 20.4% | 9.6% |
| Polycab India | ₹ 7,415.00 | ₹ 1,11,738 Cr. | 50x | 11.1x | 25.4% | 9.3% |
| Siemens | ₹ 3,250.00 | ₹ 1,15,739 Cr. | — | 9.4x | 11.7% | 8.5% |
Management
- Kunhamed Bicha
- Chairman of the Board, Managing Director
- Suresh Veerappan
- Chief Financial Officer
- Shriram Vijayaraghavan
- Chief Operating Officer
- Ajay Shukla
- Compliance Officer, Company Secretary
- Kesavan P.
- Vice President - Operations
- Arjun Balakrishnan
- Vice President - Corporate Strategy of ATSPL
- Savita R. Ganjigatti
- Vice President - Engineering of Sienna ECAD
- O. J. Sathish
- Vice President, head – PCB and Semi Conductor Engineering of Sienna ECAD and Heads the Design and Development division of Sienna ECAD
Prices are delayed and for information only. Nothing on this page is investment advice.