Avalon Technologies Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹13,798 Cr
- P/E
- 103.28
- ROE
- 16.53%
- PEG
- 3.69
- Price to sales
- 7.82
- Debt to equity
- 0.30
- 52W high / low
- ₹2,538 / ₹794
- Sales growth (5Y)
- 18.35%
- EBITDA margin
- 11.42%
- Net profit margin
- 6.87%
- Promoter holding
- 40.35%
- Sales (last year)
- ₹1,764 Cr
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]
Guidance scorecard · Q1 FY27 call
What Avalon Technologies Ltd's management guided
and where it ranks in Electrical Equipment
Electrical Equipment
RevenueQ1 FY27 call
20–40%- Avalon plans to nearly double revenues from approx. Rs. 1,603 crores in FY26 to Rs. 3,200 crores by FY29.
- The company targets a 26-30% revenue growth for FY27, revised upward from 24-27%, reflecting strong Q1 performance.
- Growth drivers include long-term mission-critical programs across rail, aerospace, industrial, clean energy, and communication sectors.
- New business wins and pipeline opportunities in semiconductor equipment, aerospace, Southeast Asia, and Europe support future growth.
- Manufacturing footprint expansion in Chennai will support capacity increases for domestic and export demands.
- Growth is expected to be steady over a multi-year horizon, with quarter-to-quarter fluctuations.
2 more points from Avalon Technologies Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Avalon Technologies Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Avalon Technologies is expanding its manufacturing footprint in Chennai with plans to acquire a large piece of land for future growth phases, including semiconductor manufacturing equipment and advanced electronics.
- Capex in the last year was INR 56 crores, with INR 16 crores spent in Q1 FY27; future capex will be modular and aimed at supporting growth.
- New manufacturing plants and assets will take time to reach optimal utilization, but focus remains on capital efficiency.
- The company plans incremental capex for growth in key verticals like semiconductor manufacturing equipment as part of new schemes like ISM 2.0.
2 more points from Avalon Technologies Ltd's call on capex
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FundraisingQ1 FY27 call
See what Avalon Technologies Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Current order book is around INR 2,200 crores, covering 12 to 36 months of execution.
- Year-on-year order book growth is 23.4%.
- Order book split: INR 2,208 crores in 12-14 months and INR 1,256 crores in 14-36 months.
- Order book is diversified across segments, with industrial at around 32%.
- There are long-term contracts from 3 to 15 years, amounting to INR 3,465 crores, but these are not counted in the near-term order book.
- Order book has been stable near INR 2,000 crores for the last three quarters.
2 more points from Avalon Technologies Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Electrical Equipment
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Electrical Equipment companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹72,673 Cr | 18.1 | |
| 2 | 40%+ | Up 2%+ | ₹21,700 Cr | 158.1 | |
| 3 | 40%+ | Up 2%+ | ₹491 Cr | 12.2 | |
| 4 | 40%+ | Up 0–2% | ₹12,434 Cr | 48.4 | |
| 5 | 40%+ | Up 0–2% | ₹2,042 Cr | 35.4 | |
| 6 | 40%+ | Up 0–2% | ₹529 Cr | 7.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Electrical Equipment rankingFinancials of Avalon Technologies Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Avalon Technologies Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 50.98% | 50.91% | 50.88% | 50.69% | 50.58% | 50.57% | 44.60% | 44.46% | 44.42% | 44.41% | 44.39% | 40.35% |
| FIIs + | 5.70% | 2.43% | 2.56% | 2.97% | 5.39% | 7.13% | 8.67% | 10.04% | 7.56% | 6.42% | 7.81% | 11.13% |
| DIIs + | 17.07% | 22.47% | 23.19% | 23.75% | 20.87% | 17.32% | 22.01% | 22.84% | 25.40% | 26.17% | 24.72% | 21.82% |
| Public + | 26.27% | 24.19% | 23.38% | 22.59% | 23.16% | 24.99% | 24.72% | 22.65% | 22.61% | 22.98% | 23.08% | 26.71% |
| No. of Shareholders | 71,388 | 70,431 | 65,296 | 57,388 | 59,703 | 63,007 | 61,743 | 61,064 | 57,290 | 65,594 | 72,969 | 82,992 |
Financials of Avalon Technologies Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2023 | 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 + | 235 | 201 | 214 | 217 | 199 | 275 | 281 | 343 | 323 | 382 | 418 | 480 | 484 |
| Expenses + | 219 | 188 | 198 | 200 | 195 | 245 | 246 | 301 | 293 | 344 | 370 | 423 | 426 |
| Operating Profit | 16 | 13 | 17 | 17 | 4 | 30 | 35 | 41 | 30 | 39 | 48 | 57 | 58 |
| OPM % | 7% | 6% | 8% | 8% | 2.2% | 11% | 12% | 12% | 9% | 10% | 11% | 12% | 12% |
| Other Income + | 5 | 5 | 2 | 3 | 4 | 4 | 10 | 3 | 2 | 8 | 7 | 12 | 3 |
| Interest | 6 | 3 | 4 | 4 | 4 | 4 | 5 | 4 | 4 | 4 | 3 | 4 | 3 |
| Depreciation | 5 | 6 | 6 | 6 | 7 | 7 | 7 | 8 | 8 | 9 | 8 | 8 | 9 |
| Profit before tax | 10 | 9 | 9 | 10 | -2 | 23 | 33 | 33 | 19 | 34 | 44 | 56 | 49 |
| Tax % | 32% | 15% | 27% | 29% | 14% | 25% | 27% | 25% | 26% | 26% | 27% | 27% | 28% |
| Net Profit + | 7 | 7 | 7 | 7 | -2 | 17 | 24 | 24 | 14 | 25 | 33 | 41 | 35 |
| EPS in Rs | 1.08 | 1.11 | 1.00 | 1.07 | -0.35 | 2.65 | 3.63 | 3.67 | 2.14 | 3.74 | 4.88 | 6.16 | 5.22 |
Financials of Avalon Technologies Ltd
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 642 | 690 | 841 | 945 | 867 | 1,098 | 1,603 | 1,764 |
| Expenses + | 577 | 624 | 743 | 832 | 805 | 983 | 1,430 | 1,563 |
| Operating Profit | 64 | 66 | 98 | 113 | 63 | 115 | 173 | 201 |
| OPM % | 10% | 10% | 12% | 12% | 7% | 10% | 11% | 11% |
| Other Income + | 11 | 5 | 31 | 14 | 15 | 17 | 29 | 30 |
| Interest | 45 | 27 | 25 | 35 | 16 | 17 | 15 | 15 |
| Depreciation | 16 | 16 | 18 | 20 | 23 | 29 | 34 | 34 |
| Profit before tax | 15 | 29 | 86 | 73 | 38 | 87 | 154 | 183 |
| Tax % | 19% | 20% | 21% | 28% | 26% | 27% | 26% | |
| Net Profit + | 12 | 23 | 67 | 52 | 28 | 63 | 113 | 134 |
| EPS in Rs | 2.14 | 3.84 | 11.29 | 9.06 | 4.26 | 9.59 | 16.92 | 20.00 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Avalon Technologies Ltd
Balance Sheet
Capital structure and asset base
| 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 |
| Borrowings + | 274 | 316 | 318 | 342 | 209 | 180 | 213 |
| Other Liabilities + | 129 | 136 | 183 | 310 | 168 | 246 | 328 |
| Total Liabilities | 450 | 512 | 589 | 1,189 | 923 | 1,038 | 1,263 |
| Fixed Assets + | 99 | 104 | 114 | 128 | 147 | 185 | 192 |
| CWIP | 3 | 0 | 2 | 15 | 20 | 10 | 24 |
| Investments | 2 | 0 | 0 | 0 | 75 | 35 | 81 |
| Other Assets + | 346 | 408 | 473 | 1,046 | 681 | 808 | 966 |
| Total Assets | 450 | 512 | 589 | 1,189 | 923 | 1,038 | 1,263 |
Financials of Avalon Technologies Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 66 | 6 | 16 | -13 | 17 | 25 | 57 |
| Cash from Investing Activity + | -19 | -27 | -18 | -25 | -146 | 54 | -63 |
| Cash from Financing Activity + | -42 | 28 | -21 | 452 | -251 | -52 | 8 |
| Net Cash Flow | 4 | 7 | -24 | 414 | -380 | 26 | 2 |
| Free Cash Flow | 49 | -14 | -2 | -41 | -18 | -21 | 4 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 109% | 14% | 29% | 5% | 54% | 39% | 53% |
Financials of Avalon Technologies Ltd
Ratios
Working capital efficiency and return ratios
| 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 | 86 |
| ROCE % | 18% | 24% | 17% | 6% | 13% | 19% |
Guidance history
How Avalon Technologies Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | — | Rising |
| Q4 FY26 call → | 20–40% | Flat | Planned | — | Rising |
| Q3 FY26 call → | 40%+ | Flat | Planned | — | Rising |
| Q2 FY26 call → | 20–40% | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
91 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +71.4% | 90% |
| Last 6 months | +95.1% | 96% |
| Last 3 months | +17.2% | 85% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Avalon Technologies Ltd: 0.4 × 90 + 0.4 × 96 + 0.2 × 85 = 91.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Avalon Technologies Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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