Key numbers
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 59 companies in Other Electrical Equipment (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹143 cr vs borrowings ₹183 cr (FY26): borrowings are higher by ₹40 cr.
- Operating profit covered interest 13.5x in the last 12 months.
- Promoter holding fell by 4.11 percentage points in a year, to 40.35% (2026-09-30).
- Operating cash flow was below net profit in 4 of the last 4 years (FY26, FY25, FY24, FY23).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 23% of net profit in the last 12 months.
- No dividend in the last 4 financial years.
- Price ₹2,168.80 on 2026-10-27: -17.2% from the 52-week high, +179.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 275 | 281 | 343 | 323 | 382 | 418 | 480 | 484 |
| EBITDA | 30 | 35 | 41 | 30 | 39 | 48 | 57 | 58 |
| OPM % | 11.0% | 12.3% | 12.1% | 9.2% | 10.1% | 11.5% | 11.9% | 12.0% |
| Other income | 4 | 10 | 3 | 2 | 8 | 7 | 12 | 3 |
| Net profit | 17 | 24 | 24 | 14 | 25 | 33 | 41 | 35 |
| EPS (₹) | 2.65 | 3.63 | 3.67 | 2.14 | 3.75 | 4.89 | 6.16 | 5.22 |
| Revenue YoY | +39.1% | +48.7% | +40.0% | +49.8% | ||||
| Profit YoY | +42.9% | +35.9% | +69.5% | +145.4% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|
| Revenue | 945 | 867 | 1,098 | 1,603 | 1,764 |
| EBITDA | 113 | 62 | 115 | 173 | 201 |
| Net profit | 52 | 28 | 63 | 113 | 134 |
| EPS (₹) | 9.27 | 4.29 | 9.62 | 16.95 | 20.02 |
| Revenue growth | -8.2% | +26.6% | +46.0% | +44.4% | |
| Profit growth | -46.7% | +126.7% | +78.0% | +67.1% | |
| Dividend / share (₹) | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +19.3% | – | +44.4% |
| Net profit | +29.1% | – | +67.1% |
| EPS | +22.3% | – | – |
| Share price | – | +87.9% (2y) | +64.4% |
Balance sheet
| ₹ cr | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Shareholders' equity | 537 | 547 | 612 | 722 |
| Borrowings | 306 | 164 | 142 | 183 |
| Cash & equivalents | 422 | 182 | 135 | 143 |
| Total assets | 1,180 | 931 | 1,040 | 1,264 |
| Fixed assets | 91 | 104 | 147 | 162 |
| Capital work in progress | 15 | 20 | 10 | 24 |
| Investments | 0 | 0 | 2 | 9 |
| Receivables | 206 | 187 | 316 | 381 |
| Inventory | 318 | 316 | 338 | 463 |
| Payables | 231 | 97 | 189 | 251 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Cash from operations | -13 | 17 | 25 | 57 |
| Cash from investing | -27 | -146 | 54 | -64 |
| Cash from financing | 454 | -251 | -52 | 8 |
| Capex | 0 | 36 | 46 | 54 |
| Free cash flow | -13 | -18 | -21 | 4 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| ROE % | 9.8% | 5.1% | 10.4% | 15.6% |
| ROCE % | 12.7% | 7.7% | 13.7% | 18.6% |
| Debtor days | 80 | 79 | 105 | 87 |
| Inventory days | 191 | 209 | 175 | 161 |
| Payable days | 139 | 64 | 98 | 87 |
| Cash conversion cycle (days) | 132 | 224 | 182 | 161 |
| Working capital days | 185 | 180 | 149 | 119 |
Shareholding
| Holder (% of shares) | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | Change since Sep 2025 |
|---|---|---|---|---|---|---|
| Promoters | 44.46% | – | 44.42% | 44.39% | 40.35% | -4.11 pts |
| FIIs | 10.04% | – | 6.42% | 7.81% | 11.13% | +1.09 pts |
| DIIs | 22.85% | – | 26.18% | 24.72% | 21.83% | -1.02 pts |
| of which Mutual funds | 20.53% | – | 22.34% | 20.87% | 18.74% | -1.79 pts |
| of which Insurance | 0.07% | – | 1.04% | 1.22% | 1.21% | +1.14 pts |
| Public (non-institutions) | 22.65% | – | 22.98% | 23.08% | 26.70% | +4.05 pts |
| No. of shareholders | 61,064 | – | 65,594 | 72,969 | 82,992 | +35.9% |
| Promoter group | % |
|---|---|
| Kunhamed Bicha | 21.57% |
| Bhaskar Srinivasan | 9.38% |
| K L Bicha Family Private Trust | 5.95% |
| Thayagath Puthan Vettil Imbichammad | 1.02% |
| BBS Family Trust | 1.02% |
| KBS Family Trust | 1.02% |
| Mariyam Bicha | 0.38% |
| Leenaz Bicha | 0.00% |
| Salim Bicha | 0.00% |
| Shamil Bicha | 0.00% |
| Zayed Bicha | 0.00% |
| Rehaan Bicha | 0.00% |
| Sameer Bicha | 0.00% |
| Alia Abdul Samad | 0.00% |
| Amina Abdul Samad | 0.00% |
| Public holders above 1% | % |
|---|---|
| Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund | 5.80% |
| Luquman Ediyaanamveedu | 5.41% |
| Hsbc Mutual Fund | 4.72% |
| Nomura Financial Advisory & Securities | 4.00% |
| Axis Mutual Fund | 3.14% |
| Anand Kumar | 2.57% |
| S Seshukumar | 2.00% |
| Hdfc Large And Mid Cap Fund | 1.34% |
| Tata Aia Life Insurance Company Limited | 1.20% |
82,992 shareholders. Pledged: – of promoter shares.
From the company's quarterly shareholding-pattern filings on the exchange (NSE/BSE), latest as of Sep 2026. "pts" = percentage points; the number of shareholders is as filed by the company. No filing on our file for Dec 2025 (shown as –).
Peers in Other Electrical Equipment
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| WAAREEENER | ₹65,440 cr | 17.1x | 4.5x | 23.0% | 33.2% | 20.2% | – | 0.09% |
| APARINDS | ₹60,870 cr | 51.5x | 11.3x | 11.6% | 32.9% | 8.7% | +16.9% | 0.34% |
| PREMIERENE | ₹39,130 cr | 23.2x | 9.1x | 46.7% | 29.7% | 30.0% | – | 0.08% |
| MTARTECH | ₹20,738 cr | 155.4x | 25.2x | 17.2% | 18.3% | 20.7% | +15.2% | – |
| DIACABS | ₹17,638 cr | 89.7x | – | – | 13.0% | 11.7% | – | – |
| EMMVEE | ₹16,661 cr | 11.6x | 3.8x | 53.0% | 34.1% | 34.7% | – | – |
| AVALON | ₹14,490 cr | 108.3x | 20.1x | 20.0% | 21.9% | 11.4% | +19.3% | 0.00% |
| UTLSOLAR | ₹11,331 cr | 36.6x | 8.9x | 23.1% | 25.4% | 14.6% | – | – |
| GENUSPOWER | ₹7,411 cr | 11.4x | 3.3x | 31.9% | 22.2% | 18.8% | +80.5% | 0.82% |
| WAAREERTL | ₹7,071 cr | 15.2x | 6.3x | 52.4% | 27.2% | 17.8% | – | – |
Latest filings
- Outcome of Board Meeting
Avalon Technologies Limited has informed the Exchange regarding Outcome of Board Meeting held on October 27, 2026.
- Updates
Avalon Technologies Limited has informed the Exchange regarding the incorporation of of Zollner Avalon Private Limited.
- Updates
Avalon Technologies Limited has informed the Exchange regarding 'ESG Rating'.
- Updates
Avalon Technologies Limited has informed the Exchange regarding Clarification on the Disclosure made on September 03, 2026 regarding appointment and re-appointment of Directors of the Company.
- Agreements
Avalon Technologies Limited has informed the Exchange about Execution of Lease Agreement with State Industries Promotion Corporation of Tamil Nadu Limited ( SIPCOT ).
- Updates
Avalon Technologies Limited has informed the Exchange regarding 'Disclosures under Reg 29(2) of SEBI (SAST) Regulations, 2011'.
- Press Release
Avalon Technologies Limited has informed the Exchange regarding a press release dated September 30, 2026, titled "Clarification on Media Reports regarding Proposed Stake Sale by Mr. Bhaskar Srinivasan s Promoter Group".
- Shareholders meeting
Avalon Technologies Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 28, 2026
- Updates
Avalon Technologies Limited has informed the Exchange regarding 'Letter to shareholders whose e-mail address is not registered with Company/RTA/DPs'.
- Shareholders meeting
Avalon Technologies Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 28, 2026
- Change in Management
Avalon Technologies Limited has informed the Exchange about change in Management
- Press Release
Avalon Technologies Limited has informed the Exchange regarding a press release dated September 03, 2026, on the Joint Venture Agreement between Avalon and Zollner.
- Agreements
Avalon Technologies Limited has informed the Exchange about the Joint Venture Agreement
- Outcome of Board Meeting
Avalon Technologies Limited has informed the Exchange regarding Outcome of Board Meeting held on September 03, 2026.
- Options to purchase securities
Avalon Technologies Limited has informed the Exchange about Options to purchase securities
Filed by the company on NSE in the last 3 months (routine notices left out). The text under each title is a short extract of the company's own filing; the link opens the full original file on the NSE website. Fetched 27 Oct 2026.
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Electronic Manufacturing Services: Our company operates on a global scale within the Electronics Manufacturing Services (EMS) sector, offering a comprehensive range of services. These include Printed Circuit Board Assembly (PCBA), box-build solutions, new product development, cable assembly, wire harnesses, sheet metal fabrications, machining, injection plastics, and magnetics. This diverse portfolio enables us to meet the varied needs of our clients, ensuring high-quality and efficient production processes across multiple industries.
| Sector | Industrials |
| Industry | Other Electrical Equipment |
| Sub-industry | Other Electrical Equipment |
| Symbol | AVALON |
| BSE code | 543896 |
| ISIN | INE0LCL01028 |
| Face value | ₹2.0 |
| Incorporated | 1999-11-03 |
| Website | www.avalontec.com |
| Plants (India / abroad) | 5 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-27.