Financial Performance Summary
Revenue Performance:
- Revenue grew by 49.8% year-over-year (YoY)
- Revenue grew by 0.9% quarter-over-quarter (QoQ)
Margin Performance:
- Gross margin: 34.7%
- EBITDA margin: 12.0%
Segment Performance:
- India manufacturing delivered 16.7% EBITDA margin
- India manufacturing delivered 11.1% PAT margin
Working Capital & Operational Efficiency:
- Net Working Capital days improved from 142 days in June 2025 to 117 days in June 2026
- This represents the eighth consecutive quarter of sequential improvement in performance
Business Development:
- Order book increased by 23.4% year-over-year
- Brownfield expansion for domestic demand in Chennai is now operational
- Secured EN 15085-2 certification, strengthening capabilities in railway welding applications
Company Background
Avalon Technologies Limited is one of India's leading fully integrated Electronic Manufacturing Services (EMS) companies with end-to-end operations in delivering box build solutions in India. The company focuses on high value precision engineered products and provides a full stack product and solution suite from printed circuit board design and assembly to end-to-end box build of electronic systems. Avalon is the only Indian EMS player to have full-fledged manufacturing facilities in the US, serving customers in clean energy, transportation, industrials, communication and medical devices industries.
Safe Harbour Statement
The company included standard forward-looking statements disclaimer noting that statements regarding market opportunity and business prospects are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict, including performance of the Indian and international economies, industry performance, competition, strategy implementation, growth and expansion levels, technological changes, revenue fluctuations, market preferences, and market risks.