Avalon Technologies

NSE: AVALONBSE: 543896
Compare with peers
₹ 2,045.00▼ 120 (−5.54%)28 Oct, 03:29 pm IST
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.

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.

  • 27 Oct 2026Outcome of Board MeetingHigh impactPositivePrice −5.5% so far today
    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.

    Filing
  • 20 Oct 2026UpdatesLow impactPositivePrice −1.2% on 21 Oct
    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.

    Filing
  • 14 Oct 2026UpdatesLow impactNeutralPrice −10.3% on 15 Oct
    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.

    Filing
  • 8 Oct 2026AgreementsLow impactPositivePrice −0.1% on 9 Oct
    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.

    Filing

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
A-
DefaultRiskyModerateSafeVery safe
  • All agencies agree and none has raised a warning.
AgencyCurrent ratingOutlookAs of
CRISILCrisil AStable17 Apr 2026
India RatingsIND A-; IND A1Positive29 Jan 2026
Credit rating actions
RatingDetails
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

Equity fund raises
StageDetails
27 Oct 2026WarrantsBoard approved₹ 425 Cr.₹ 2,193.2−6.76%

Research by Minerva Capital Research Solutions

Our research team's work on Avalon Technologies

Also covered in

Sector note · 19 Dec 2025 · Free

Board meetings

Results dates and other board meetings. Full calendar

Details
27 Oct 2026Fund RaisingTo consider Alteration of Articles of Association and Fund Raising, as detailed in the Disclosure enclosed herewith.
4 Aug 2026Financial ResultsTo consider and approve the financial results for the period ended Jun 30, 2026
6 May 2026Financial ResultsTo consider and approve the financial results for the Quarter and Financial Year ended March 31, 2026
4 Feb 2026Financial ResultsTo consider and approve the financial results for the period ended December 31, 2025
5 Nov 2025Financial ResultsTo consider and approve the financial results for the period ended September 30, 2025
5 Aug 2025Financial ResultsTo consider and approve the financial results for the period ended Jun 30, 2025

Share price

1M change −11.48%
1 of 4 filing days came with a big price moveBiggest −10.3% on 15 Oct 2026
Volume (shares)Price (₹)
Close price

Financials

Consolidated figures in ₹ crore.

Quarterly results
₹ Cr.Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales201214217199275281343323382418480484
Expenses188198200195245246301293344370423426
Operating Profit13171743035413039485758
OPM %6%8%8%2.2%11%12%12%9%10%11%12%12%
Other Income52344103287123
Interest344445444343
Depreciation666777889889
Profit before tax9910−22333331934445649
Tax %15%27%29%14%25%27%25%26%26%27%27%28%
Net Profit777−21724241425334135
EPS in Rs1.1111.07−0.352.653.633.672.143.744.886.165.22

Growth and returns

Compounded yearly rates over each period.

Compounded Sales Growth
10 Years
—
5 Years
18%
3 Years
19%
TTM
44%
Compounded Profit Growth
10 Years
—
5 Years
40%
3 Years
29%
TTM
67%
Stock Price CAGR
10 Years
—
5 Years
—
3 Years
66%
TTM
—
Return on Equity
10 Years
—
5 Years
14%
3 Years
11%
TTM
—

Shareholding

Latest: Jun 2026.

Promoters
44.39%
−0.21 pts in a year
FIIs
7.81%
−0.86 pts in a year
DIIs
24.72%
+2.71 pts in a year
Public
23.08%
−1.64 pts in a year

P/E and EPS over time

Daily P/E and trailing 12-month EPS. EPS updates with each result.

P/E 92.9xEPS (12 months) ₹ 20.01Median P/E 85.8x
P/E (times)EPS (₹)

Peers

Listed companies in the same business.

Peer comparison
Avalon Technologies₹ 2,045.00₹ 12,418 Cr.92.9x18.4x17%—
ABB India₹ 6,140.00₹ 1,29,936 Cr.95.2x20.3x—11.6%
Hitachi Energy India₹ 26,250.00₹ 1,17,002 Cr.139x27.6x21%12.1%
CG Power and Industrial Solutions₹ 814.95₹ 1,24,592 Cr.114.8x17.9x20.4%9.6%
Polycab India₹ 7,415.00₹ 1,11,738 Cr.50x11.1x25.4%9.3%
Siemens₹ 3,250.00₹ 1,15,739 Cr.—9.4x11.7%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.