Avalon Technologies share price
NSE: AVALONBSE: 543896Electrical EquipmentSmall Cap
Avalon Technologies Limited · Face value ₹2 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Apr 2023 · Issue price ₹436
Last close ₹2,050.30down ₹12.40 (0.60%)BSE ₹2,048.80
Share price at the NSE close on 30 Oct 2026. Previous close ₹2,062.70.
30 Oct: open ₹2,062.70, high ₹2,089.90, low ₹2,026.60
52-week range of traded prices to 30 Oct 2026
₹777.30Low, 29 Jan 2026₹2,618.00High, 18 Sep 2026
- Under NSE's long-term additional surveillance, stage I, on the list for 30 Oct 2026. The exchange puts a share here when its price has moved unusually, and trading in it carries extra conditions.
- Next results date: the board meets on 12 Nov 2026 to consider: financial results. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹13,713 Cr639th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 102.64
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 19.00
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 20.0%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 18.5%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.25
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 1,10,17341.4% delivered
About Avalon Technologies
Avalon Technologies is an electronics manufacturing services company that builds complex electronics, from printed circuit board design and assembly to box builds (complete, finished units) and fully integrated systems.12 It serves customers in industrial, rail, aerospace, clean energy, communication and medical markets across India, the US and export markets.1
Its work runs from circuit board design and new product development through board assembly, cable assemblies and wire harnesses, sheet metal fabrication and machining, magnetics and injection-moulded plastics to end-to-end box builds.3 Avalon builds to its customers' designs: even where it does the design work, the customer owns it.4 Its plants in India handle labour-intensive manufacturing, while its US operations use automation for system integration and final product configuration.5 New customers come in at the US plant, and production then moves progressively to India.6 Its subsidiaries are Avalon Technology and Services Private Limited and Sienna ECAD Technologies Private Limited in India and, in the US, ABV Electronics Inc., which trades as Sienna Corporation.72
Avalon Technologies was incorporated in 1999 and has its registered office in the MEPZ special economic zone at Tambaram, Chennai.8 Its shares were listed on NSE and BSE on 18 Apr 2023.9 Its promoters include Kunhamed Bicha, its Chairman and Managing Director, and Bhaskar Srinivasan, whose promoter group held 15.42% of the shares on 29 Sep 2026.1011 Avalon's promoter group as a whole held 44% of its shares on 30 Jun 2026.12
Avalon Technologies key points
Results
- In the quarter to Jun 2026, revenue was ₹484 crore, up 49.8% from ₹323 crore a year earlier. EBITDA (earnings before interest, tax, depreciation and amortisation) was ₹58 crore, a 12.0% margin, and profit after tax ₹35 crore, up 145.3% from ₹14 crore.13
- In the year to Mar 2026, consolidated revenue grew 46% to ₹1,603 crore, EBITDA grew 51% to ₹173 crore (a 10.8% margin) and profit after tax grew 78% to ₹113 crore.14
- At 30 Jun 2026, Avalon's total debt was ₹196 crore against cash and investments of ₹171 crore, leaving net debt of ₹24 crore. Its return on capital employed (operating profit as a share of the capital used) was 23.4%.1516
Revenue mix
- Share of revenue by industry1718
Item quarter to Jun 2026 year to Mar 2026 Industrials (power and automation) 32% 34% Clean energy 29% 20% Mobility (rail, automotive, aerospace) 25% 28% Medical and others 10% 10% Communication 4% 8% - In the quarter to Jun 2026, Avalon's industrial revenue grew 52% and its mobility revenue 36% on a year earlier. Rail was about 15% of revenue, up 37%, and aerospace 8%, up 47%.19
- Box builds made up 60% of Avalon's revenue in the quarter to Jun 2026. In the year to Mar 2026 they were 54%, the company's highest-ever share for a year.2021
Where revenue comes from
- Share of revenue by where customers are22
Item quarter to Jun 2026 year to Mar 2026 US 59% 62% India 41% 38% - Avalon's plants in India made 72% of its revenue in the quarter to Jun 2026, at an EBITDA margin of 16.7% and a profit after tax margin of 11.1%; its US operations made the other 28%.23
- Avalon's US manufacturing lost about ₹4 crore after tax in the quarter to Jun 2026, against about ₹9 crore a year earlier.24
Plants and capacity
- Avalon has 16 manufacturing units in Chennai and Bengaluru in India and in Atlanta in the US, with more than 615k square feet of design and manufacturing space and 65 production lines running 2 shifts.2526
- On its earnings call of 5 Aug 2026, the company said its new Chennai plant for domestic demand was complete and would start commercial production in the quarter to Sep 2026; the documents give no outcome.27
- Avalon's capital spending (money spent on plant, buildings and equipment) was ₹56 crore in the year to Mar 2026 and ₹16 crore in the quarter to Jun 2026.28
Order book
- Avalon's order book (orders received but not yet delivered) was ₹2,208 crore at 30 Jun 2026, up 23.4% from ₹1,790 crore a year earlier, with an average execution period of 14 months.2930
- Avalon's long-term contracts, executable over periods of up to 3 years, stood at ₹1,256 crore at the end of Jun 2026.3132
- Orders running 3 to 15 years, not counted in these figures, totalled ₹3,465 crore, the company said on its earnings call of 5 Aug 2026.33
Customers and partners
- Customers that have given Avalon supplier awards include Collins Aerospace, for sustained performance, and Faiveley Transport, for strategic partnership.34
- A large part of Avalon's revenue comes from a limited number of customers, so losing a key customer could make its revenue swing.35
- On its earnings call of 5 Aug 2026, the company said a wafer fabrication equipment supplier (a maker of chip-making machines) had widened Avalon's work beyond power box assemblies, with production ramping over the next few quarters.36
What the company expects
- On its earnings call of 5 Aug 2026, the company said it expects revenue to grow 26% to 30% in the year to Mar 2027, raised from 24% to 27%.37
- On its earnings call of 5 Aug 2026, the company said it aims to reach about ₹3,200 crore of revenue by the year to Mar 2029, double the year to Mar 2026.38
- On its earnings call of 5 Aug 2026, the company said it expects its gross margin (revenue less the cost of goods sold, as a share of revenue) to stay at 33% to 35%.39
Recent events
- On 19 Oct 2026, Avalon incorporated Zollner Avalon Private Limited as a wholly owned subsidiary, in which Zollner is to take 51% as the joint venture partner.40
- On 8 Oct 2026, Avalon leased 25.08 acres at the SIPCOT Industrial Park in Oragadam, Kancheepuram district, Tamil Nadu, from the state's industrial agency, to set up an industrial unit.4142
- On 3 Sep 2026, Avalon's board approved a joint venture to manufacture in India with Zollner Elektronik AG, a European electronics manufacturer. Zollner is to hold 51% and Avalon 49%, which Avalon may later raise to 51%.4344
- On 17 Apr 2026, Crisil Ratings rated Avalon's ₹140 crore of bank facilities Crisil A/Stable for the long term and Crisil A1 for the short term.45
Last updated
All 45 sources, each with its page
- 1. Annual report, 4 Sep 2026, page 5
- 2. Annual report, 4 Sep 2026, page 14
- 3. Annual report, 4 Sep 2026, page 18
- 4. Earnings call, 5 Aug 2026, page 17
- 5. Annual report, 4 Sep 2026, page 22
- 6. Earnings call, 5 Aug 2026, page 3
- 7. Annual report, 4 Sep 2026, page 86
- 8. Annual report, 4 Sep 2026, page 7
- 9. Annual report, 4 Sep 2026, page 127
- 10. Investor presentation, 4 Aug 2026, page 33
- 11. Exchange filing, 30 Sep 2026, page 2
- 12. Investor presentation, 4 Aug 2026, page 35
- 13. Earnings call, 5 Aug 2026, page 5
- 14. Annual report, 4 Sep 2026, page 13
- 15. Earnings call, 5 Aug 2026, page 5
- 16. Earnings call, 5 Aug 2026, page 2
- 17. Investor presentation, 4 Aug 2026, page 12
- 18. Annual report, 4 Sep 2026, page 56
- 19. Earnings call, 5 Aug 2026, page 3
- 20. Investor presentation, 4 Aug 2026, page 22
- 21. Annual report, 4 Sep 2026, page 9
- 22. Investor presentation, 4 Aug 2026, page 13
- 23. Earnings call, 5 Aug 2026, page 3
- 24. Earnings call, 5 Aug 2026, page 8
- 25. Investor presentation, 4 Aug 2026, page 5
- 26. Investor presentation, 4 Aug 2026, page 30
- 27. Earnings call, 5 Aug 2026, page 4
- 28. Earnings call, 5 Aug 2026, page 10
- 29. Earnings call, 5 Aug 2026, page 3
- 30. Investor presentation, 4 Aug 2026, page 7
- 31. Earnings call, 5 Aug 2026, page 3
- 32. Investor presentation, 4 Aug 2026, page 6
- 33. Earnings call, 5 Aug 2026, page 11
- 34. Investor presentation, 4 Aug 2026, page 27
- 35. Annual report, 4 Sep 2026, page 63
- 36. Earnings call, 5 Aug 2026, page 4
- 37. Earnings call, 5 Aug 2026, page 3
- 38. Earnings call, 5 Aug 2026, page 4
- 39. Earnings call, 5 Aug 2026, page 11
- 40. Exchange filing, 20 Oct 2026, page 1
- 41. Exchange filing, 8 Oct 2026, page 1
- 42. Exchange filing, 8 Oct 2026, page 2
- 43. Exchange filing, 3 Sep 2026, page 1
- 44. Exchange filing, 3 Sep 2026, page 2
- 45. Exchange filing, 17 Apr 2026, page 1
Results
Consolidated; ₹ crore.Avalon Technologies quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +44.4%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +67.1%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹484 Crup 0.94%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹35 Crdown 15.27%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 7.2%
Revenue by quarter
Peak revenue ₹484 Cr, quarter to Jun 2026; lowest ₹275 Cr, quarter to Sep 2024
Net profit by quarter, a loss in red
| ₹ crore | 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 |
| Net profit | 17 | 24 | 24 | 14 | 25 | 33 | 41 | 35 |
| Net margin | 6.4% | 8.5% | 7.1% | 4.4% | 6.5% | 7.8% | 8.6% | 7.2% |
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹1,603 Crup 45.99%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹113 Crup 78.04%
- Net margin
- 7.0%
Revenue by year
Peak revenue ₹1,603 Cr, year to Mar 2026; lowest ₹867 Cr, year to Mar 2024
Net profit by year, a loss in red
| ₹ crore | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Revenue | 945 | 867 | 1,098 | 1,603 |
| Net profit | 53 | 28 | 63 | 113 |
| Net margin | 5.6% | 3.2% | 5.8% | 7.0% |
Consolidated. Years to March. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Business segments
In the year to Mar 2026 the company reports one business segment, Electronics Manufacturing Services, which carries all its revenue.
Valuation
Today, against the company's own history. Dividend yield is not shown: no dividend in the years on record.Avalon Technologies PE ratio and valuation
Price to earnings
At or below today's level on 58% of 669 trading days since Feb 2024.
LowestHighest
Its median96.12Industry median22.36
Price to book
At or below today's level on 94% of 728 trading days over the last 3 years.
LowestHighest
Its median9.19Industry median3.19
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +22.5% | +76.2% | −30.5% | 0.0% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.
Mutual fund holdings
40 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 3 of the 21 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 40 funds holding Avalon Technologies
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 2
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 1
- AddedAdded. Funds that held more shares than at the end of the month before.
- 8
- CutCut. Funds that held fewer shares than at the end of the month before.
- 13
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 16
| Fund | |||
|---|---|---|---|
 Nippon India Small Cap FundNippon India Mutual Fund | 38,79,742 | 1.10% | ₹891.1 Cr |
 Kotak Mid Cap FundKotak Mahindra Mutual Fund | 24,01,587 | 0.83% | ₹551.6 Cr |
 Axis Small Cap FundAxis Mutual Fund | 20,18,325 | 1.51% | ₹463.5 Cr |
 HSBC Midcap FundHSBC Mutual Fund | 10,83,027 | 1.48% | ₹248.7 Cr |
 HDFC Large & Mid Cap FundHDFC Mutual Fund | 8,94,506 | 0.72% | ₹205.4 Cr |
| HSBC ELSS Tax saver FundHSBC Mutual Fund | 7,80,288 | 4.51% | ₹179.2 Cr |
 Edelweiss Small Cap FundEdelweiss Mutual Fund | 6,02,153 | 1.98% | ₹138.3 Cr |
| HSBC Small Cap FundHSBC Mutual Fund | 4,95,211 | 0.61% | ₹113.7 Cr |
| HSBC Large & Mid Cap FundHSBC Mutual Fund | 4,23,603 | 1.68% | ₹97.3 Cr |
| HSBC India Export Opportunities FundHSBC Mutual Fund | 3,76,865 | 6.64% | ₹86.6 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Promoter and insider buying and selling
Trades made since 30 Oct 2025.Avalon Technologies insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Promoters and promoter group: no market trade
- Others: no market trade · 1 pledge filing of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.
Avalon Technologies competitors and peers
Other Electrical Equipment, 84 listed companies, priced on 30 Oct 2026. The table lists the 8 companies closest to Avalon Technologies in market cap.Capital goods stocks
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 Premier EnergiesPREMIERENE | 39,766 | 23.88 | 9.23 | +26.7% | – | 46.7% | 27.2% | 0.09% |
 Mtar TechnologiesMTARTECH | 21,033 | 157.62 | 25.57 | +53.4% | +125.1% | 17.2% | 16.1% | 0.00% |
 Diamond Power InfrastructureDIACABS | 20,598 | 104.82 | – | +92.6% | +416.5% | – | 12.2% | 0.00% |
 Emmvee Photovoltaic PowerEMMVEE | 15,855 | 11.18 | 3.61 | – | – | 53.1% | 33.4% | 0.44% |
 Fujiyama Power SystemsUTLSOLAR | 11,208 | 38.08 | 8.80 | – | – | 23.1% | 33.3% | 0.00% |
 Genus Power InfrastructuresGENUSPOWER | 8,321 | 12.77 | 3.75 | +74.2% | +62.8% | 31.9% | 20.1% | 0.18% |
 Waaree Renewable TechnologiesWAAREERTL | 7,247 | 15.56 | 6.48 | +77.7% | +33.0% | 52.4% | 21.0% | 0.00% |
 Ram Ratna WiresRAMRAT | 4,734 | 33.68 | 7.54 | +71.5% | – | 24.8% | 21.4% | 0.49% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Latest announcements
Routine notices left out.Avalon Technologies announcements
Oct 2026
30 Oct · Board meeting
30 Oct · Disclosure
27 Oct · Board meeting
20 Oct · Updates
Avalon Technologies share price by year
Each calendar year to 2025.Avalon Technologies share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 878.90 | −8.8% | 1,252.80 | 610.00 |
| 2024 | 964.00 | +74.9% | 1,012.40 | 459.75 |
| 2023 | 551.10 | – | 697.00 | 356.15 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2023 is from its first session, 18 Apr 2023.
Recent sessions
The 9 trading days to 29 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 29 Oct 2026 | 2,046.50 | 2,092.70 | 2,046.50 | 2,062.70 | 2,068.19 | 1,00,957 | 28.7% |
| 28 Oct 2026 | 2,165.00 | 2,188.00 | 2,025.00 | 2,046.50 | 2,109.71 | 2,66,968 | 36.6% |
| 27 Oct 2026 | 2,020.00 | 2,180.70 | 1,995.40 | 2,168.80 | 2,123.58 | 5,87,902 | 38.8% |
| 26 Oct 2026 | 1,837.30 | 2,025.00 | 1,789.70 | 2,002.20 | 1,928.46 | 7,57,556 | 29.5% |
| 23 Oct 2026 | 1,976.00 | 1,977.70 | 1,827.30 | 1,856.60 | 1,858.38 | 5,27,121 | 53.3% |
| 22 Oct 2026 | 1,997.00 | 1,997.80 | 1,909.60 | 1,984.00 | 1,952.05 | 3,42,931 | 47.3% |
| 21 Oct 2026 | 2,020.50 | 2,030.80 | 1,941.90 | 1,997.00 | 1,995.22 | 3,34,001 | 46.0% |
| 19 Oct 2026 | 1,996.40 | 2,059.00 | 1,950.00 | 2,020.50 | 2,021.49 | 3,01,460 | 35.0% |
| 16 Oct 2026 | 2,055.00 | 2,069.30 | 1,975.00 | 1,987.30 | 2,019.46 | 3,35,094 | 41.0% |
Prices in ₹ per share as traded, not adjusted.
Company details
- NSE symbol
- AVALON
- BSE code
- 543896
- ISIN
- INE0LCL01028
- Industry
- Electrical Equipment
- Website
- www.avalontec.com
- CIN
- L30007TN1999PLC043479
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1999
- Registered office
- B - 7, MEPZ, First Main Road, Tambaram, Chennai 600045, Tamil Nadu
- Share registrar
- MUFG Intime India Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments