Key Financial Figures - Standalone (₹ in Millions)
Quarterly Performance (Q2 FY27 vs Q2 FY26 vs Q1 FY27):
- Revenue from Operations: ₹2,555.82 (Q2 FY27) vs ₹2,062.88 (Q2 FY26) vs ₹2,106.40 (Q1 FY27)
- Total Income: ₹2,623.14 (Q2 FY27) vs ₹2,178.67 (Q2 FY26) vs ₹2,171.97 (Q1 FY27)
- Profit Before Tax: ₹282.23 (Q2 FY27) vs ₹331.63 (Q2 FY26) vs ₹266.28 (Q1 FY27)
- Profit After Tax: ₹210.23 (Q2 FY27) vs ₹247.64 (Q2 FY26) vs ₹201.49 (Q1 FY27)
- Basic EPS: ₹3.15 (Q2 FY27) vs ₹3.72 (Q2 FY26) vs ₹3.02 (Q1 FY27)
Half-Yearly Performance (H1 FY27 vs H1 FY26):
- Revenue from Operations: ₹4,662.22 (H1 FY27) vs ₹3,727.82 (H1 FY26)
- Total Income: ₹4,795.11 (H1 FY27) vs ₹3,902.01 (H1 FY26)
- Profit Before Tax: ₹548.51 (H1 FY27) vs ₹524.59 (H1 FY26)
- Profit After Tax: ₹411.72 (H1 FY27) vs ₹393.41 (H1 FY26)
- Basic EPS: ₹6.16 (H1 FY27) vs ₹5.91 (H1 FY26)
Key Financial Figures - Consolidated (₹ in Millions)
Quarterly Performance (Q2 FY27 vs Q2 FY26 vs Q1 FY27):
- Revenue from Operations: ₹5,254.34 (Q2 FY27) vs ₹3,824.64 (Q2 FY26) vs ₹4,844.14 (Q1 FY27)
- Total Income: ₹5,281.69 (Q2 FY27) vs ₹3,903.75 (Q2 FY26) vs ₹4,872.31 (Q1 FY27)
- Profit Before Tax: ₹546.44 (Q2 FY27) vs ₹335.84 (Q2 FY26) vs ₹487.39 (Q1 FY27)
- Profit After Tax: ₹398.36 (Q2 FY27) vs ₹249.79 (Q2 FY26) vs ₹348.69 (Q1 FY27)
- Basic EPS: ₹5.96 (Q2 FY27) vs ₹3.75 (Q2 FY26) vs ₹5.22 (Q1 FY27)
Half-Yearly Performance (H1 FY27 vs H1 FY26):
- Revenue from Operations: ₹10,098.48 (H1 FY27) vs ₹7,057.72 (H1 FY26)
- Total Income: ₹10,154.00 (H1 FY27) vs ₹7,153.40 (H1 FY26)
- Profit Before Tax: ₹1,033.83 (H1 FY27) vs ₹528.91 (H1 FY26)
- Profit After Tax: ₹747.05 (H1 FY27) vs ₹391.93 (H1 FY26)
- Basic EPS: ₹11.18 (H1 FY27) vs ₹5.89 (H1 FY26)
Balance Sheet Highlights - Standalone (as of September 30, 2026)
- Total Assets: ₹11,834.10 million (vs ₹10,233.65 million as of March 31, 2026)
- Inventories: ₹3,036.75 million (vs ₹2,283.76 million)
- Trade Receivables: ₹3,224.51 million (vs ₹2,873.33 million)
- Current Borrowings: ₹909.69 million (vs ₹351.59 million)
- Equity Share Capital: ₹133.76 million (vs ₹133.53 million)
- Other Equity: ₹8,490.09 million (vs ₹8,057.32 million)
Cash Flow Statement - Standalone (H1 FY27)
- Net cash used in operating activities: ₹(223.63) million
- Net cash used in investing activities: ₹(297.73) million
- Net cash generated from financing activities: ₹546.65 million
- Net increase in cash: ₹25.29 million
- Cash and cash equivalents at period end: ₹405.32 million
Subsequent Events and Corporate Actions
1. On September 3, 2026, the board approved entering into an agreement with Zollner Elektronik AG to establish a joint venture company in India for electronics manufacturing services.
2. The joint venture, named Zollner Avalon Private Limited, was incorporated on October 19, 2026, with Zollner holding 51% and Avalon holding 49%.
3. On October 27, 2026, the board approved issuance of up to 1,937,808 warrants to Zollner Elektronik AG on a preferential basis at an issue price of ₹2,193.20 each, aggregating approximately ₹4,250 million.
4. Each warrant is convertible into one fully paid-up equity share. The issue is subject to shareholder and regulatory approvals.
Employee Stock Options
- Number of options granted: 2,093,321
- Options outstanding as of September 30, 2026: 348,257
- During Q2 FY27, the company allotted 70,545 equity shares upon exercise of employee stock options.
Business Segment
The company operates in one reportable business segment: Electronics Manufacturing Services (EMS) with capabilities in printed circuit board assembly, custom cable and wire harnesses, etc.
Subsidiaries Included in Consolidation
- Avalon Technology and Services Private Limited, India
- Sienna Ecad Technologies Private Limited, India
- ABV Electronics, Inc. (D/B/A Sienna Corporation), United States of America
Approval and Signatories
- Approved by: Kunhamed Bicha, Chairman & Managing Director
- Certified by: Ajay Shukla, Company Secretary & Compliance Officer
- Reviewed by: Varma & Varma Chartered Accountants