Avalon Technologies share price today
Avalon Technologies Ltd · NSE: AVALON · Consumer Electronics - EMS · price as of the 4 November 2026 close, updated every trading day · results updated weekly · research updated 14 October 2026
Avalon Technologies share price today: ₹2,041.00 at the NSE close on 4 November 2026, up 96.3% in a year. Avalon Technologies (NSE: AVALON) is worth ₹13,653 crore, trades at a P/E of 102.5 and has closed between ₹803.35 and ₹2,537.70 over the past 52 weeks. Latest change: promoters cut their stake for 14 quarters in a row.
Avalon Technologies Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer.
The main question: profits are rising, but only 49% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch.
The price has been rising for 37 weeks, and the P/E is higher than 66% of its own last 3.5 years. Over the last four quarters, results have been improving, with profit +150.0% on a year earlier, and 49% of the last 3 years' profit came in as cash. What will decide it: whether the cash starts to follow the profit.
Our full read on Avalon Technologies, including whether management kept its promises and what could stop it, is in the Sector Alpha newsletter.
What is the Avalon Technologies share price today?
Avalon Technologies Ltd's share price was ₹2,041.00 at the close on 4 November 2026. It has been rising for 37 weeks. That is 21.0% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹803 and ₹2,538, and at that close it sat 71% of the way up from that low.
A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Avalon Technologies Ltd is in stage 2. The phase helps read everything below.
Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 46 weeks in a row.
1Y
Nov 2026: ₹2,041, 21.0% above its 200-day average. The price has been rising for 37 weeks.
- Price ₹2,041
- 50-day avg ₹2,131
- 200-day avg ₹1,686
| Week | Price | 50-day avg | 200-day avg |
|---|---|---|---|
| 31 Oct 2025 | ₹1,191 | ₹1,062 | ₹889 |
| 7 Nov 2025 | ₹1,040 | ₹1,069 | ₹898 |
| 14 Nov 2025 | ₹1,047 | ₹1,064 | ₹905 |
| 21 Nov 2025 | ₹980 | ₹1,052 | ₹909 |
| 28 Nov 2025 | ₹969 | ₹1,038 | ₹913 |
| 5 Dec 2025 | ₹862 | ₹1,016 | ₹913 |
| 12 Dec 2025 | ₹871 | ₹990 | ₹911 |
| 19 Dec 2025 | ₹875 | ₹967 | ₹908 |
| 26 Dec 2025 | ₹887 | ₹954 | ₹907 |
| 2 Jan 2026 | ₹894 | ₹940 | ₹906 |
| 9 Jan 2026 | ₹902 | ₹937 | ₹907 |
| 16 Jan 2026 | ₹906 | ₹931 | ₹906 |
| 23 Jan 2026 | ₹803 | ₹916 | ₹904 |
| 1 Feb 2026 | ₹871 | ₹900 | ₹900 |
| 6 Feb 2026 | ₹1,029 | ₹917 | ₹904 |
| 13 Feb 2026 | ₹1,054 | ₹943 | ₹912 |
| 20 Feb 2026 | ₹1,028 | ₹961 | ₹918 |
| 27 Feb 2026 | ₹1,019 | ₹968 | ₹922 |
| 6 Mar 2026 | ₹930 | ₹966 | ₹923 |
| 13 Mar 2026 | ₹879 | ₹957 | ₹923 |
| 20 Mar 2026 | ₹952 | ₹951 | ₹923 |
| 27 Mar 2026 | ₹963 | ₹950 | ₹924 |
| 2 Apr 2026 | ₹938 | ₹948 | ₹924 |
| 10 Apr 2026 | ₹1,058 | ₹959 | ₹928 |
| 17 Apr 2026 | ₹1,119 | ₹978 | ₹934 |
| 24 Apr 2026 | ₹1,041 | ₹995 | ₹941 |
| 30 Apr 2026 | ₹1,057 | ₹1,004 | ₹946 |
| 8 May 2026 | ₹1,387 | ₹1,044 | ₹959 |
| 15 May 2026 | ₹1,323 | ₹1,091 | ₹976 |
| 22 May 2026 | ₹1,473 | ₹1,150 | ₹997 |
| 29 May 2026 | ₹1,521 | ₹1,202 | ₹1,017 |
| 4 Jun 2026 | ₹1,638 | ₹1,251 | ₹1,037 |
| 5 Jun 2026 | ₹1,608 | ₹1,265 | ₹1,043 |
| 9 Jun 2026 | ₹1,640 | ₹1,292 | ₹1,054 |
| 10 Jun 2026 | ₹1,533 | ₹1,302 | ₹1,059 |
| 12 Jun 2026 | ₹1,687 | ₹1,327 | ₹1,070 |
| 17 Jun 2026 | ₹1,741 | ₹1,374 | ₹1,090 |
| 19 Jun 2026 | ₹1,745 | ₹1,403 | ₹1,103 |
| 24 Jun 2026 | ₹1,748 | ₹1,441 | ₹1,122 |
| 25 Jun 2026 | ₹1,750 | ₹1,454 | ₹1,128 |
| 1 Jul 2026 | ₹1,795 | ₹1,492 | ₹1,148 |
| 3 Jul 2026 | ₹1,788 | ₹1,515 | ₹1,161 |
| 10 Jul 2026 | ₹1,768 | ₹1,549 | ₹1,187 |
| 17 Jul 2026 | ₹1,724 | ₹1,582 | ₹1,214 |
| 24 Jul 2026 | ₹1,742 | ₹1,610 | ₹1,239 |
| 31 Jul 2026 | ₹1,808 | ₹1,631 | ₹1,263 |
| 7 Aug 2026 | ₹1,965 | ₹1,666 | ₹1,290 |
| 14 Aug 2026 | ₹1,941 | ₹1,716 | ₹1,322 |
| 21 Aug 2026 | ₹2,184 | ₹1,802 | ₹1,364 |
| 28 Aug 2026 | ₹2,232 | ₹1,872 | ₹1,404 |
| 4 Sep 2026 | ₹2,197 | ₹1,943 | ₹1,446 |
| 11 Sep 2026 | ₹2,265 | ₹2,005 | ₹1,487 |
| 18 Sep 2026 | ₹2,538 | ₹2,047 | ₹1,519 |
| 25 Sep 2026 | ₹2,329 | ₹2,112 | ₹1,562 |
| 28 Sep 2026 | ₹2,319 | ₹2,120 | ₹1,569 |
| 1 Oct 2026 | ₹2,280 | ₹2,139 | ₹1,591 |
| 9 Oct 2026 | ₹2,301 | ₹2,175 | ₹1,627 |
| 16 Oct 2026 | ₹1,987 | ₹2,177 | ₹1,655 |
| 23 Oct 2026 | ₹1,857 | ₹2,146 | ₹1,667 |
| 30 Oct 2026 | ₹2,050 | ₹2,131 | ₹1,686 |
| 4 Nov 2026 | ₹2,041 | ₹2,131 | ₹1,686 |
3Y
Nov 2026: ₹2,041, 21.0% above its 200-day average. The price has been rising for 37 weeks.
- Price ₹2,041
- 50-day avg ₹2,131
- 200-day avg ₹1,686
| Week | Price | 50-day avg | 200-day avg |
|---|---|---|---|
| 3 Nov 2023 | ₹499 | ₹533 | ₹495 |
| 12 Nov 2023 | ₹490 | ₹524 | ₹495 |
| 17 Nov 2023 | ₹477 | ₹518 | ₹494 |
| 24 Nov 2023 | ₹479 | ₹510 | ₹494 |
| 1 Dec 2023 | ₹506 | ₹509 | ₹494 |
| 8 Dec 2023 | ₹514 | ₹509 | ₹495 |
| 15 Dec 2023 | ₹512 | ₹511 | ₹496 |
| 22 Dec 2023 | ₹551 | ₹515 | ₹498 |
| 29 Dec 2023 | ₹551 | ₹521 | ₹500 |
| 5 Jan 2024 | ₹545 | ₹525 | ₹502 |
| 12 Jan 2024 | ₹542 | ₹528 | ₹504 |
| 20 Jan 2024 | ₹530 | ₹531 | ₹506 |
| 25 Jan 2024 | ₹526 | ₹530 | ₹507 |
| 2 Feb 2024 | ₹507 | ₹529 | ₹508 |
| 9 Feb 2024 | ₹481 | ₹521 | ₹506 |
| 16 Feb 2024 | ₹508 | ₹515 | ₹505 |
| 23 Feb 2024 | ₹513 | ₹513 | ₹505 |
| 2 Mar 2024 | ₹528 | ₹516 | ₹507 |
| 7 Mar 2024 | ₹520 | ₹517 | ₹507 |
| 15 Mar 2024 | ₹486 | ₹514 | ₹507 |
| 22 Mar 2024 | ₹495 | ₹510 | ₹506 |
| 28 Mar 2024 | ₹494 | ₹508 | ₹506 |
| 5 Apr 2024 | ₹518 | ₹509 | ₹506 |
| 12 Apr 2024 | ₹520 | ₹511 | ₹507 |
| 19 Apr 2024 | ₹518 | ₹511 | ₹507 |
| 26 Apr 2024 | ₹521 | ₹513 | ₹508 |
| 3 May 2024 | ₹512 | ₹513 | ₹508 |
| 10 May 2024 | ₹508 | ₹513 | ₹508 |
| 18 May 2024 | ₹489 | ₹509 | ₹507 |
| 24 May 2024 | ₹483 | ₹505 | ₹506 |
| 31 May 2024 | ₹487 | ₹502 | ₹505 |
| 7 Jun 2024 | ₹491 | ₹498 | ₹504 |
| 14 Jun 2024 | ₹520 | ₹500 | ₹505 |
| 21 Jun 2024 | ₹527 | ₹504 | ₹505 |
| 28 Jun 2024 | ₹541 | ₹512 | ₹508 |
| 5 Jul 2024 | ₹539 | ₹517 | ₹509 |
| 12 Jul 2024 | ₹532 | ₹520 | ₹510 |
| 19 Jul 2024 | ₹514 | ₹521 | ₹511 |
| 26 Jul 2024 | ₹523 | ₹521 | ₹512 |
| 2 Aug 2024 | ₹515 | ₹521 | ₹512 |
| 9 Aug 2024 | ₹473 | ₹515 | ₹511 |
| 16 Aug 2024 | ₹489 | ₹509 | ₹509 |
| 23 Aug 2024 | ₹515 | ₹509 | ₹509 |
| 30 Aug 2024 | ₹521 | ₹511 | ₹510 |
| 6 Sep 2024 | ₹503 | ₹512 | ₹510 |
| 13 Sep 2024 | ₹541 | ₹514 | ₹511 |
| 20 Sep 2024 | ₹582 | ₹525 | ₹514 |
| 27 Sep 2024 | ₹607 | ₹540 | ₹518 |
| 4 Oct 2024 | ₹562 | ₹545 | ₹521 |
| 11 Oct 2024 | ₹627 | ₹552 | ₹524 |
| 18 Oct 2024 | ₹590 | ₹561 | ₹527 |
| 25 Oct 2024 | ₹587 | ₹564 | ₹530 |
| 1 Nov 2024 | ₹589 | ₹568 | ₹533 |
| 8 Nov 2024 | ₹793 | ₹584 | ₹539 |
| 14 Nov 2024 | ₹774 | ₹612 | ₹548 |
| 22 Nov 2024 | ₹857 | ₹647 | ₹560 |
| 29 Nov 2024 | ₹965 | ₹697 | ₹577 |
| 6 Dec 2024 | ₹893 | ₹734 | ₹593 |
| 13 Dec 2024 | ₹853 | ₹759 | ₹607 |
| 20 Dec 2024 | ₹993 | ₹791 | ₹623 |
| 27 Dec 2024 | ₹1,012 | ₹820 | ₹637 |
| 3 Jan 2025 | ₹973 | ₹847 | ₹653 |
| 10 Jan 2025 | ₹914 | ₹862 | ₹667 |
| 17 Jan 2025 | ₹823 | ₹855 | ₹674 |
| 24 Jan 2025 | ₹693 | ₹836 | ₹678 |
| 1 Feb 2025 | ₹691 | ₹795 | ₹676 |
| 7 Feb 2025 | ₹708 | ₹779 | ₹678 |
| 14 Feb 2025 | ₹636 | ₹759 | ₹677 |
| 21 Feb 2025 | ₹692 | ₹741 | ₹676 |
| 28 Feb 2025 | ₹664 | ₹731 | ₹676 |
| 7 Mar 2025 | ₹710 | ₹726 | ₹677 |
| 13 Mar 2025 | ₹675 | ₹719 | ₹677 |
| 21 Mar 2025 | ₹769 | ₹721 | ₹680 |
| 28 Mar 2025 | ₹758 | ₹730 | ₹684 |
| 4 Apr 2025 | ₹767 | ₹738 | ₹688 |
| 11 Apr 2025 | ₹812 | ₹744 | ₹692 |
| 17 Apr 2025 | ₹829 | ₹754 | ₹696 |
| 25 Apr 2025 | ₹837 | ₹774 | ₹704 |
| 2 May 2025 | ₹878 | ₹786 | ₹710 |
| 9 May 2025 | ₹793 | ₹796 | ₹717 |
| 16 May 2025 | ₹897 | ₹809 | ₹724 |
| 23 May 2025 | ₹870 | ₹820 | ₹731 |
| 30 May 2025 | ₹860 | ₹827 | ₹737 |
| 6 Jun 2025 | ₹866 | ₹833 | ₹743 |
| 13 Jun 2025 | ₹831 | ₹834 | ₹748 |
| 20 Jun 2025 | ₹836 | ₹834 | ₹752 |
| 27 Jun 2025 | ₹825 | ₹833 | ₹756 |
| 4 Jul 2025 | ₹832 | ₹833 | ₹759 |
| 11 Jul 2025 | ₹856 | ₹837 | ₹764 |
| 18 Jul 2025 | ₹866 | ₹844 | ₹770 |
| 25 Jul 2025 | ₹823 | ₹845 | ₹774 |
| 1 Aug 2025 | ₹856 | ₹843 | ₹776 |
| 8 Aug 2025 | ₹896 | ₹852 | ₹782 |
| 14 Aug 2025 | ₹838 | ₹855 | ₹785 |
| 22 Aug 2025 | ₹854 | ₹854 | ₹789 |
| 29 Aug 2025 | ₹831 | ₹854 | ₹791 |
| 5 Sep 2025 | ₹923 | ₹856 | ₹795 |
| 12 Sep 2025 | ₹969 | ₹874 | ₹803 |
| 19 Sep 2025 | ₹974 | ₹891 | ₹811 |
| 26 Sep 2025 | ₹994 | ₹910 | ₹820 |
| 3 Oct 2025 | ₹1,055 | ₹927 | ₹828 |
| 10 Oct 2025 | ₹1,230 | ₹979 | ₹847 |
| 17 Oct 2025 | ₹1,175 | ₹1,013 | ₹862 |
| 24 Oct 2025 | ₹1,121 | ₹1,036 | ₹874 |
| 31 Oct 2025 | ₹1,191 | ₹1,062 | ₹889 |
| 7 Nov 2025 | ₹1,040 | ₹1,069 | ₹898 |
| 14 Nov 2025 | ₹1,047 | ₹1,064 | ₹905 |
| 21 Nov 2025 | ₹980 | ₹1,052 | ₹909 |
| 28 Nov 2025 | ₹969 | ₹1,038 | ₹913 |
| 5 Dec 2025 | ₹862 | ₹1,016 | ₹913 |
| 12 Dec 2025 | ₹871 | ₹990 | ₹911 |
| 19 Dec 2025 | ₹875 | ₹967 | ₹908 |
| 26 Dec 2025 | ₹887 | ₹954 | ₹907 |
| 2 Jan 2026 | ₹894 | ₹940 | ₹906 |
| 9 Jan 2026 | ₹902 | ₹937 | ₹907 |
| 16 Jan 2026 | ₹906 | ₹931 | ₹906 |
| 23 Jan 2026 | ₹803 | ₹916 | ₹904 |
| 1 Feb 2026 | ₹871 | ₹900 | ₹900 |
| 6 Feb 2026 | ₹1,029 | ₹917 | ₹904 |
| 13 Feb 2026 | ₹1,054 | ₹943 | ₹912 |
| 20 Feb 2026 | ₹1,028 | ₹961 | ₹918 |
| 27 Feb 2026 | ₹1,019 | ₹968 | ₹922 |
| 6 Mar 2026 | ₹930 | ₹966 | ₹923 |
| 13 Mar 2026 | ₹879 | ₹957 | ₹923 |
| 20 Mar 2026 | ₹952 | ₹951 | ₹923 |
| 27 Mar 2026 | ₹963 | ₹950 | ₹924 |
| 2 Apr 2026 | ₹938 | ₹948 | ₹924 |
| 10 Apr 2026 | ₹1,058 | ₹959 | ₹928 |
| 17 Apr 2026 | ₹1,119 | ₹978 | ₹934 |
| 24 Apr 2026 | ₹1,041 | ₹995 | ₹941 |
| 30 Apr 2026 | ₹1,057 | ₹1,004 | ₹946 |
| 8 May 2026 | ₹1,387 | ₹1,044 | ₹959 |
| 15 May 2026 | ₹1,323 | ₹1,091 | ₹976 |
| 22 May 2026 | ₹1,473 | ₹1,150 | ₹997 |
| 29 May 2026 | ₹1,521 | ₹1,202 | ₹1,017 |
| 4 Jun 2026 | ₹1,638 | ₹1,251 | ₹1,037 |
| 5 Jun 2026 | ₹1,608 | ₹1,265 | ₹1,043 |
| 9 Jun 2026 | ₹1,640 | ₹1,292 | ₹1,054 |
| 10 Jun 2026 | ₹1,533 | ₹1,302 | ₹1,059 |
| 12 Jun 2026 | ₹1,687 | ₹1,327 | ₹1,070 |
| 17 Jun 2026 | ₹1,741 | ₹1,374 | ₹1,090 |
| 19 Jun 2026 | ₹1,745 | ₹1,403 | ₹1,103 |
| 24 Jun 2026 | ₹1,748 | ₹1,441 | ₹1,122 |
| 25 Jun 2026 | ₹1,750 | ₹1,454 | ₹1,128 |
| 1 Jul 2026 | ₹1,795 | ₹1,492 | ₹1,148 |
| 3 Jul 2026 | ₹1,788 | ₹1,515 | ₹1,161 |
| 10 Jul 2026 | ₹1,768 | ₹1,549 | ₹1,187 |
| 17 Jul 2026 | ₹1,724 | ₹1,582 | ₹1,214 |
| 24 Jul 2026 | ₹1,742 | ₹1,610 | ₹1,239 |
| 31 Jul 2026 | ₹1,808 | ₹1,631 | ₹1,263 |
| 7 Aug 2026 | ₹1,965 | ₹1,666 | ₹1,290 |
| 14 Aug 2026 | ₹1,941 | ₹1,716 | ₹1,322 |
| 21 Aug 2026 | ₹2,184 | ₹1,802 | ₹1,364 |
| 28 Aug 2026 | ₹2,232 | ₹1,872 | ₹1,404 |
| 4 Sep 2026 | ₹2,197 | ₹1,943 | ₹1,446 |
| 11 Sep 2026 | ₹2,265 | ₹2,005 | ₹1,487 |
| 18 Sep 2026 | ₹2,538 | ₹2,047 | ₹1,519 |
| 25 Sep 2026 | ₹2,329 | ₹2,112 | ₹1,562 |
| 28 Sep 2026 | ₹2,319 | ₹2,120 | ₹1,569 |
| 1 Oct 2026 | ₹2,280 | ₹2,139 | ₹1,591 |
| 9 Oct 2026 | ₹2,301 | ₹2,175 | ₹1,627 |
| 16 Oct 2026 | ₹1,987 | ₹2,177 | ₹1,655 |
| 23 Oct 2026 | ₹1,857 | ₹2,146 | ₹1,667 |
| 30 Oct 2026 | ₹2,050 | ₹2,131 | ₹1,686 |
| 4 Nov 2026 | ₹2,041 | ₹2,131 | ₹1,686 |
Price stage: Rising from Oct 2025 to Jan 2026; Sideways in Feb 2026; Rising from Mar 2026 to Oct 2026.
Price stage: Rising from Nov 2023 to Mar 2024; Sideways from Mar 2024 to Jul 2024; Rising from Aug 2024 to Jan 2026; Sideways in Feb 2026; Rising from Mar 2026 to Oct 2026.
Week by week since 2023: did it beat the NIFTY 500 over the past 13 weeks?
Ahead in 99 of 180 weeks
| Week | 13-week return vs NIFTY 500 |
|---|---|
| 21 Apr 2023 | no NIFTY 500 reading |
| 28 Apr 2023 | no NIFTY 500 reading |
| 5 May 2023 | no NIFTY 500 reading |
| 12 May 2023 | no NIFTY 500 reading |
| 19 May 2023 | no NIFTY 500 reading |
| 26 May 2023 | no NIFTY 500 reading |
| 2 Jun 2023 | no NIFTY 500 reading |
| 9 Jun 2023 | no NIFTY 500 reading |
| 16 Jun 2023 | no NIFTY 500 reading |
| 23 Jun 2023 | no NIFTY 500 reading |
| 30 Jun 2023 | no NIFTY 500 reading |
| 7 Jul 2023 | no NIFTY 500 reading |
| 14 Jul 2023 | no NIFTY 500 reading |
| 21 Jul 2023 | +47.0% |
| 28 Jul 2023 | +47.8% |
| 4 Aug 2023 | +46.1% |
| 11 Aug 2023 | +36.7% |
| 18 Aug 2023 | +7.0% |
| 25 Aug 2023 | +6.5% |
| 1 Sep 2023 | +5.4% |
| 8 Sep 2023 | +11.9% |
| 15 Sep 2023 | +7.3% |
| 22 Sep 2023 | +1.7% |
| 29 Sep 2023 | −2.2% |
| 6 Oct 2023 | −13.6% |
| 13 Oct 2023 | −26.2% |
| 20 Oct 2023 | −15.6% |
| 27 Oct 2023 | −14.1% |
| 3 Nov 2023 | −14.6% |
| 12 Nov 2023 | −10.5% |
| 17 Nov 2023 | −4.4% |
| 24 Nov 2023 | −5.9% |
| 1 Dec 2023 | −7.2% |
| 8 Dec 2023 | −22.0% |
| 15 Dec 2023 | −19.3% |
| 22 Dec 2023 | −11.9% |
| 29 Dec 2023 | −13.9% |
| 5 Jan 2024 | −16.6% |
| 12 Jan 2024 | −10.0% |
| 20 Jan 2024 | −16.1% |
| 25 Jan 2024 | −14.0% |
| 2 Feb 2024 | −14.8% |
| 9 Feb 2024 | −14.9% |
| 16 Feb 2024 | −7.7% |
| 23 Feb 2024 | −4.7% |
| 2 Mar 2024 | −0.9% |
| 7 Mar 2024 | −3.6% |
| 15 Mar 2024 | −9.7% |
| 22 Mar 2024 | −14.4% |
| 28 Mar 2024 | −16.8% |
| 5 Apr 2024 | −12.2% |
| 12 Apr 2024 | −8.8% |
| 19 Apr 2024 | −8.9% |
| 26 Apr 2024 | −7.0% |
| 3 May 2024 | −2.0% |
| 10 May 2024 | +1.4% |
| 18 May 2024 | −9.2% |
| 24 May 2024 | −12.0% |
| 31 May 2024 | −15.0% |
| 7 Jun 2024 | −17.4% |
| 14 Jun 2024 | −6.3% |
| 21 Jun 2024 | −5.2% |
| 28 Jun 2024 | −1.4% |
| 5 Jul 2024 | −5.8% |
| 12 Jul 2024 | −11.3% |
| 19 Jul 2024 | −11.3% |
| 26 Jul 2024 | −11.7% |
| 2 Aug 2024 | −9.9% |
| 9 Aug 2024 | −16.1% |
| 16 Aug 2024 | −10.2% |
| 23 Aug 2024 | −4.4% |
| 30 Aug 2024 | −5.7% |
| 6 Sep 2024 | −4.7% |
| 13 Sep 2024 | −3.3% |
| 20 Sep 2024 | +1.8% |
| 27 Sep 2024 | +6.0% |
| 4 Oct 2024 | +1.5% |
| 11 Oct 2024 | +15.8% |
| 18 Oct 2024 | +15.2% |
| 25 Oct 2024 | +15.7% |
| 1 Nov 2024 | +13.6% |
| 8 Nov 2024 | +71.0% |
| 14 Nov 2024 | +64.1% |
| 22 Nov 2024 | +70.2% |
| 29 Nov 2024 | +87.9% |
| 6 Dec 2024 | +78.3% |
| 13 Dec 2024 | +61.6% |
| 20 Dec 2024 | +78.7% |
| 27 Dec 2024 | +74.6% |
| 3 Jan 2025 | +79.0% |
| 10 Jan 2025 | +54.8% |
| 17 Jan 2025 | +45.7% |
| 24 Jan 2025 | +24.5% |
| 1 Feb 2025 | +22.7% |
| 7 Feb 2025 | −6.2% |
| 14 Feb 2025 | −12.0% |
| 21 Feb 2025 | −9.2% |
| 28 Feb 2025 | −18.8% |
| 7 Mar 2025 | −7.2% |
| 13 Mar 2025 | −11.8% |
| 21 Mar 2025 | −17.5% |
| 28 Mar 2025 | −20.2% |
| 4 Apr 2025 | −12.8% |
| 11 Apr 2025 | −10.4% |
| 17 Apr 2025 | −3.2% |
| 25 Apr 2025 | +17.1% |
| 2 May 2025 | +25.8% |
| 9 May 2025 | +4.4% |
| 16 May 2025 | +31.4% |
| 23 May 2025 | +14.1% |
| 30 May 2025 | +16.8% |
| 6 Jun 2025 | +6.8% |
| 13 Jun 2025 | +13.2% |
| 20 Jun 2025 | −0.8% |
| 27 Jun 2025 | −1.8% |
| 4 Jul 2025 | −7.1% |
| 11 Jul 2025 | −4.3% |
| 18 Jul 2025 | −0.9% |
| 25 Jul 2025 | −6.2% |
| 1 Aug 2025 | −5.2% |
| 8 Aug 2025 | +12.1% |
| 14 Aug 2025 | −8.4% |
| 22 Aug 2025 | −1.8% |
| 29 Aug 2025 | −3.6% |
| 5 Sep 2025 | +7.7% |
| 12 Sep 2025 | +14.3% |
| 19 Sep 2025 | +17.1% |
| 26 Sep 2025 | +23.1% |
| 3 Oct 2025 | +28.7% |
| 10 Oct 2025 | +44.2% |
| 17 Oct 2025 | +34.3% |
| 24 Oct 2025 | +32.1% |
| 31 Oct 2025 | +34.7% |
| 7 Nov 2025 | +11.1% |
| 14 Nov 2025 | +21.6% |
| 21 Nov 2025 | +9.5% |
| 28 Nov 2025 | +12.9% |
| 5 Dec 2025 | −8.0% |
| 12 Dec 2025 | −10.4% |
| 19 Dec 2025 | −13.0% |
| 26 Dec 2025 | −14.9% |
| 2 Jan 2026 | −19.2% |
| 9 Jan 2026 | −27.1% |
| 16 Jan 2026 | −19.0% |
| 23 Jan 2026 | −24.7% |
| 1 Feb 2026 | −25.8% |
| 6 Feb 2026 | −0.8% |
| 13 Feb 2026 | +1.8% |
| 20 Feb 2026 | +7.2% |
| 27 Feb 2026 | +10.7% |
| 6 Mar 2026 | +11.8% |
| 13 Mar 2026 | +7.7% |
| 20 Mar 2026 | +18.7% |
| 27 Mar 2026 | +20.9% |
| 2 Apr 2026 | +12.7% |
| 10 Apr 2026 | +21.0% |
| 17 Apr 2026 | +22.9% |
| 24 Apr 2026 | +30.4% |
| 30 Apr 2026 | +22.6% |
| 8 May 2026 | +40.0% |
| 15 May 2026 | +30.2% |
| 22 May 2026 | +46.5% |
| 29 May 2026 | +48.1% |
| 4 Jun 2026 | +76.1% |
| 5 Jun 2026 | +80.4% |
| 9 Jun 2026 | +67.0% |
| 10 Jun 2026 | +51.2% |
| 12 Jun 2026 | +77.8% |
| 17 Jun 2026 | +62.1% |
| 19 Jun 2026 | +55.2% |
| 24 Jun 2026 | +66.9% |
| 25 Jun 2026 | +65.6% |
| 1 Jul 2026 | +26.0% |
| 3 Jul 2026 | +31.7% |
| 10 Jul 2026 | +17.0% |
| 17 Jul 2026 | +10.4% |
| 24 Jul 2026 | +4.3% |
| 31 Jul 2026 | +8.0% |
| 7 Aug 2026 | +15.0% |
| 14 Aug 2026 | +22.2% |
| 21 Aug 2026 | +25.3% |
| 28 Aug 2026 | +26.5% |
| 4 Sep 2026 | +25.4% |
| 11 Sep 2026 | +30.6% |
| 18 Sep 2026 | +46.2% |
| 25 Sep 2026 | +32.7% |
| 28 Sep 2026 | +35.9% |
| 1 Oct 2026 | +35.3% |
| 9 Oct 2026 | +39.7% |
| 16 Oct 2026 | +16.9% |
| 23 Oct 2026 | +11.4% |
| 30 Oct 2026 | +12.0% |
| 4 Nov 2026 | +12.4% |
Over the last 3.5 years the share price moved +413% while the NIFTY 500 moved +46%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.
This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.
What changed at Avalon Technologies this quarter?
Three changes stood out: promoters cut their stake for 14 quarters in a row, revenue up on a year earlier for 8 quarters in a row and profit up on a year earlier for 8 quarters in a row.
Promoters cut their stake for 14 quarters in a row
From 70.8% to 40.4% of the company by the September 2026 quarter.
Revenue up on a year earlier for 8 quarters in a row
In the June 2026 quarter revenue was ₹484 crore, +49.8% on a year earlier.
Why: Revenue rose because industrial customers bought more.
Next results: check whether the new Chennai plant starts making sales and how much of it is used.
From the earnings call on 5 Aug 2026.
Profit up on a year earlier for 8 quarters in a row
In the June 2026 quarter profit was ₹35 crore, +150% on a year earlier.
Why: Profit rose faster than sales because many costs stayed flat while sales grew, so more of each sale fell to profit.
Next results: check whether the US factory keeps losing less money on its way to breaking even.
From the earnings call on 5 Aug 2026.
What are Avalon Technologies' latest quarterly results?
For April to June 2026 (the quarter ended 30 June 2026), Avalon Technologies reported revenue of ₹484 crore, up 49.8% from ₹323 crore a year earlier, and a profit of ₹35.0 crore, up 150.0% from ₹14.0 crore.
Avalon Technologies results: April to June 2026 against a year earlier
| Measure | April to June 2026 | April to June 2025 | Change |
|---|---|---|---|
| Revenue | ₹484 crore | ₹323 crore | +49.8% |
| Profit | ₹35.0 crore | ₹14.0 crore | +150.0% |
| Earnings per share | ₹5.22 | ₹2.14 | +143.9% |
| Operating margin | 12.0% | 9.0% | +3.0 points |
The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).
Avalon Technologies' management discussed these results on a call held on 5 August 2026; what it said is further down this page.
From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.
What is the Avalon Technologies share price history?
Avalon Technologies closed at ₹2,041.00 on 4 November 2026, up 96.3% from ₹1,039.80 a year earlier (7 November 2025) and up 309.3% over three years. Its highest weekly close since April 2023 was ₹2,537.70 on 18 September 2026.
Avalon Technologies share price: then and now
| When | Close | Change to 4 Nov 2026 |
|---|---|---|
| 1 week ago · 30 Oct 2026 | ₹2,050.30 | −0.5% |
| 1 month ago · 1 Oct 2026 | ₹2,280.20 | −10.5% |
| 6 months ago · 8 May 2026 | ₹1,387.00 | +47.2% |
| 1 year ago · 7 Nov 2025 | ₹1,039.80 | +96.3% |
| 3 years ago · 3 Nov 2023 | ₹498.70 | +309.3% |
| Earliest weekly close in our records · 21 Apr 2023 | ₹397.95 | +412.9% |
| Highest weekly close since April 2023, also the 52-week high · 18 Sep 2026 | ₹2,537.70 | −19.6% |
| Lowest weekly close since April 2023 · 12 May 2023 | ₹356.70 | +472.2% |
| 52-week low (weekly close) · 23 Jan 2026 | ₹803.35 | +154.1% |
Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.
193 weekly closes from 21 April 2023 to 4 November 2026.
What is the latest news on Avalon Technologies?
4 Nov 2026: Avalon Technologies closed at ₹2,041.00, down 0.5% on the week and down 10.5% on the month. 5 Aug 2026: Avalon Technologies held its results call for April to June 2026. Management guided: FY27 revenue growth 26-30%.
Earlier
- Results for April to June 2026: Revenue up 49.8% and profit up 150.0% on a year earlier.
What dividend does Avalon Technologies pay?
Avalon Technologies has paid no dividend on the NSE since its first NSE close in our records (21 April 2023), the start of the period we checked.
No. Avalon Technologies Ltd paid out 0% of its profit as dividends in each of its last 7 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate.
From the NSE corporate-actions record, read 5 November 2026.
What did Avalon Technologies management say on the latest results call?
On the call for April to June 2026, held on 5 August 2026, Avalon Technologies' management guided: FY27 revenue growth 26-30%.
“Based on this strong momentum across our business and the visibility we have on programs ramping through the year, we are revising our FY27 revenue growth guidance upward from 24 to 27% to 26 to 30%.”Kunnamath Bicha, Chairman & Managing Director, on the call for April to June 2026
What management guided
- FY29 revenue approximately ₹3,200 crore.
- Consolidated gross margin 33-35%.
- US manufacturing contribution to settle around 20% of total revenue as India scales.
- US manufacturing steady-state operating profit breakeven by end-FY27, followed by profit breakeven.
Management’s own plans and goals, from our notes of the call. A plan is not a result.
Source: the call transcript.
From the call for April to June 2026, 5 August 2026.
What is the future of Avalon Technologies? What is changing in the business?
2 changes in Avalon Technologies' own numbers look lasting: more business from existing customers and a bigger order book. Also showing up, but too early to call lasting: costs spread over more sales.
More business from existing customers looks lasting
Management said that of about ₹500 crore of extra revenue in FY26, about ₹470 crore came from existing programs and only ₹30 crore from new ones. Revenue rose from ₹1,098 crore in FY25 to ₹1,603 crore in FY26, and the latest quarter (Jun 2026) was ₹484 crore against ₹323 crore a year earlier.
Why it may last: These are build-to-print programs that management says run 5-10 years once in production, and the move from single parts to whole units (box builds 44% four years ago, 59.9% now) deepens each relationship.
What could be flattering it: One customer's temporary spending burst (for example lumpy energy-storage orders), or sales pushed out by giving customers longer to pay.
Next check: Sep 2026 revenue grows at least 26% on Sep 2025's ₹382 crore (the low end of the raised FY27 guidance) with debtor days not rising.
Quarter by quarter, 4 quarters
July to September 2025
Existing programs (energy storage, aerospace, rail) carried the quarter; revenue ₹382 crore against ₹275 crore a year earlier (+39%). ✓ fact
From our notes of the call for July to September 2025: Existing Business: Energy storage system program ramping production as planned.
October to December 2025
Growth broad across existing verticals (industrial +67%, rail +70%, aerospace +64%, clean energy +35%); revenue ₹418 crore against ₹281 crore (+49%). ✓ fact
From our notes of the call for October to December 2025: All three growth engines simultaneously firing: (1) Existing business: Industrial +67% on a year earlier (35% of revenue)
January to March 2026
Pressed by an analyst, management split FY26 growth: about ₹470 crore from existing programs, ₹30 crore from new ones. Full-year revenue ₹1,603 crore against ₹1,098 crore. ✓ fact
From our notes of the call for January to March 2026: Approximately ₹470 crore came from existing programs and only ₹30 crore from newer program ramps.
April to June 2026
Box builds reached 59.9% of revenue; programs start with one part and grow into the whole unit for the same customer. Revenue ₹484 crore against ₹323 crore (+50%), though only +0.9% on the previous quarter. ✓ fact
From our notes of the call for April to June 2026: Programs can start with a single commodity and expand toward a complete customer-owned box.
A bigger order book looks lasting
The order book due within about 14 months rose from ₹1,863 crore (Sep 2025) to ₹2,016, ₹2,196 and ₹2,208 crore, up 23-26% a year, plus ₹1,183-1,256 crore of longer contracts. Revenue is growing faster than the order book.
Why it may last: The orders are multi-year build-to-print programs with long-term contracts sitting beyond the 14-month book; slowing order growth would cap speed, not end the driver.
What could be flattering it: A headline backlog that does not turn into revenue, or orders taken at thin margins.
Next check: Executable order book above ₹2,208 crore at Sep 2026 while quarterly revenue stays above ₹484 crore.
Quarter by quarter, 4 quarters
July to September 2025
Order book ₹1,863 crore, +25.4% a year, plus ₹1,168 crore of long-term contracts; revenue ₹382 crore. ✓ fact
From our notes of the call for July to September 2025: Order book expanded to ₹1,863 crore with 14-month average execution period, up 25.4% on a year earlier.
October to December 2025
Order book ₹2,016 crore (+26.5%) plus ₹1,183 crore long-term; revenue +48.7%, faster than the order book. ✓ fact
From our notes of the call for October to December 2025: Order book growth 26.5% on a year earlier contrasts with revenue growth 48.7% reflecting program timing variance.
January to March 2026
Order book ₹2,196 crore (+24.7%) plus ₹1,245 crore long-term; revenue ₹480 crore. ✓ fact
From our notes of the call for January to March 2026: Order book grew 24.7% on a year earlier to ₹2,196 crore with 14-month average execution period.
April to June 2026
Order book ₹2,208 crore (+23.4%), only ₹12 crore above March while ₹484 crore was billed, so new orders roughly matched billing; ₹1,256 crore long-term plus ₹3,465 crore of 3-15 year contracts not counted. ✓ fact
From our notes of the call for April to June 2026: The 12-month executable order book was ₹2,208 crore, up 23.4% on a year earlier.
Costs spread over more sales too early to call
As sales grow, overheads (staff, plant, admin) are spread over more revenue. Management says 45-50% of costs below gross margin are fixed or semi-fixed. Operating profit rose from ₹30 crore (Sep 2024) to ₹39, 48, 57 and 58 crore over the last four quarters, and operating margin (profit from the business as a share of sales) climbed each quarter: 10.1%, 11.49%, 11.85%, 11.97%. Losses at the US plant also narrowed.
Why it may last: The overhead spread depends on growth continuing, and so far it has mostly been absorbed by lower gross margin. What decides it: operating margin beating the year-ago quarter again in Sep 2026, when growth slows towards the guided 26-30%.
What could be flattering it: Profit rising from other income or a lower tax rate rather than from the business; or the overhead saving simply being eaten by lower gross margin.
Next check: Sep 2026 operating margin above the 10.1% of Sep 2025 (ideally near 12%) with gross margin held within 33-35%.
Quarter by quarter, 4 quarters
July to September 2025
Operating profit ₹39 crore vs ₹30 crore a year earlier (+30%), slower than revenue (+39%), because gross margin fell to 34.32% from 36.84%. Costs between gross and operating profit fell to 24.2% of sales from 25.9%. ✓ fact
From our notes of the call for July to September 2025: Operating margin of 10.1% in Q2 reflects early operating leverage from revenue scale.
October to December 2025
Operating profit ₹48 crore vs ₹35 crore (+37%) on revenue +49%. Overhead share of sales fell to 22.7% from 25.0%, but gross margin fell to 34.16% from 37.33%, so operating margin (11.49%) stayed below the year-ago 12.33%. ✓ fact
From our notes of the call for October to December 2025: Operating leverage manifesting: operating profit grew 59.2% on a year earlier for 9M despite modest capital spending.
January to March 2026
Operating profit ₹57 crore vs ₹41 crore (+39%) on revenue +40%. Operating margin 11.85% vs 12.06% a year earlier; overhead share 21.8% vs 23.0%. US quarterly loss down to ₹5 crore. ✓ fact
From our notes of the call for January to March 2026: Consolidated operating margin January to March 2026 at 11.8% up from Q3 11.5%, with sequential improvement driven by operating leverage as revenues scaled.
April to June 2026
Operating profit ₹58 crore vs ₹30 crore (+93%) on revenue +50%; operating margin 11.97% vs 9.24%. The year-ago quarter was unusually weak, so part of the jump is a low base. Against the previous quarter, revenue +0.9% and operating margin edged up from 11.85% to 11.97%. ✓ fact
From our notes of the call for April to June 2026: Below gross margin, 45-50% of expenses are semi-fixed or fixed; management expects further operating leverage as volumes scale.
We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.
Checked against results and calls up to April to June 2026, 10 October 2026.
What is Avalon Technologies' order book?
The 2,208 Cr executable order book covers 1.25 times trailing four-quarter revenue of 1,764 Cr.
- Executable order book 2,208 Cr, up 23.4% on a year earlier, with a 14-month average execution period. ✓ fact
- Long-term contracts of 1,256 Cr are disclosed separately from the order book. ✓ fact
- Order book 2,196 Cr at Mar 2026, up 24.7% on a year earlier. ✓ fact
Our read after the latest results, written 10 October 2026.
What could change the Avalon Technologies story? What are the risks?
Quarterly revenue stalls near 480 Cr for two quarters while new-plant and hiring costs keep rising.
Each change stops working if
- Operating leverage on a fixed-cost base: Quarterly revenue stalls near 480 Cr for two quarters while new-plant and hiring costs keep rising.
- Order book and long-duration programs: The executable order book falls quarter on quarter or its on a year earlier growth drops below 15%.
- Shift to full-box assembly: Box-build share falls back below 55% for two quarters.
- US plant losses closing: US quarterly loss widens back above 6 Cr.
Our read after the latest results, written 10 October 2026.
What to watch in Avalon Technologies' next results?
When Avalon Technologies reports July to September 2026, these are the 6 checks that show whether the story is still on course. First: Sep 2026 revenue grows at least 26% on Sep 2025's ₹382 crore (the low end of the raised FY27 guidance) with debtor days not rising.
| What to check | Why |
|---|---|
| Sep 2026 revenue grows at least 26% on Sep 2025's ₹382 crore (the low end of the raised FY27 guidance) with debtor days not rising. | More business from existing customers |
| Executable order book above ₹2,208 crore at Sep 2026 while quarterly revenue stays above ₹484 crore. | A bigger order book |
| Sep 2026 operating margin above the 10.1% of Sep 2025 (ideally near 12%) with gross margin held within 33-35%. | Costs spread over more sales |
| HVDC and semiconductor-equipment contribution - check whether additional products begin translating into a broader ramp. | From the call |
| Chennai domestic plant - check commercial start and early utilisation in the next print. | From the call |
| US manufacturing loss path - check continued narrowing toward the stated breakeven milestone. | From the call |
Which stock lists is Avalon Technologies on?
Avalon Technologies is on 3 of our India lists: Multibagger study list, Small & mid cap stocks and Semiconductor stocks.
Is Avalon Technologies profitable?
Avalon Technologies Ltd earned ₹35.0 Cr of net profit in the Jun 2026 quarter, +150.0% on the same quarter a year earlier. That is the 4th quarter in a row of profit growth. Full-year FY26 profit was ₹113 Cr. Over 6 years profit has grown 45.3% a year on average. That is 7.2% of the quarter's revenue.
Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.
The same quarter a year earlier earned ₹14.0 Cr. 1 of the last 12 reported quarters were loss-making.
For the full year, FY26 profit was ₹113 Cr (+79.4% on the year before).
FY26 profit ₹113 Cr (+79.4% on the year before), 45.3% a year over 6 years
- Net profit ₹113
| Quarter | Net profit |
|---|---|
| FY20 | ₹12 |
| FY21 | ₹23 |
| FY22 | ₹67 |
| FY23 | ₹52 |
| FY24 | ₹28 |
| FY25 | ₹63 |
| FY26 | ₹113 |
Growth on a year earlier
- Growth on a year earlier 79.4%
| Quarter | Growth on a year earlier |
|---|---|
| FY20 | – |
| FY21 | 91.7% |
| FY22 | 191.3% |
| FY23 | −22.4% |
| FY24 | −46.2% |
| FY25 | 125% |
| FY26 | 79.4% |
Jun 2026: ₹35.0 Cr (+150.0% on a year earlier), the 4th quarter in a row of growth
- Net profit (quarterly) ₹35.0
| Quarter | Net profit (quarterly) |
|---|---|
| Sep 2023 | ₹7 |
| Dec 2023 | ₹7 |
| Mar 2024 | ₹7 |
| Jun 2024 | −₹2 |
| Sep 2024 | ₹17 |
| Dec 2024 | ₹24 |
| Mar 2025 | ₹24 |
| Jun 2025 | ₹14 |
| Sep 2025 | ₹25 |
| Dec 2025 | ₹33 |
| Mar 2026 | ₹41 |
| Jun 2026 | ₹35 |
Growth on a year earlier
- Growth on a year earlier 150%
| Quarter | Growth on a year earlier |
|---|---|
| Sep 2023 | −53.3% |
| Dec 2023 | 16.7% |
| Mar 2024 | −69.6% |
| Jun 2024 | −128.6% |
| Sep 2024 | 142.9% |
| Dec 2024 | 242.9% |
| Mar 2025 | 242.9% |
| Jun 2025 | – |
| Sep 2025 | 47.1% |
| Dec 2025 | 37.5% |
| Mar 2026 | 70.8% |
| Jun 2026 | 150% |
Why profit moved: revenue changed +49.8% on a year earlier and the margin moved +3.0 percentage points. Most of the change came from keeping more of each sale.
On average over the last four quarters, profit changed +76.3% and revenue +44.3%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.
How much revenue does Avalon Technologies make, and is it growing?
Avalon Technologies Ltd reported ₹484 Cr of revenue in the Jun 2026 quarter, +49.8% on the same quarter a year earlier. That is the 8th quarter in a row with growth on the year before. Over 6 years it has grown 16.5% a year on average. The last full year, FY26, came in at ₹1,603 Cr.
Revenue is everything the company billed its customers in the period.
Why this happened. The order book moved from 1,863 Cr (Sep 2025) to 2,016 Cr, 2,196 Cr and 2,208 Cr, and programs typically run for years once in production. Order-book growth of about 23% is slower than revenue growth of about 50%, so execution is drawing the book down faster than it is refilled; that gap is the item to watch, not a reason for alarm yet.
The last four reported quarters add to ₹1,764 Cr.
FY26 revenue was ₹1,603 Cr, +46.0% on the year before.
FY26 revenue ₹1,603 Cr (+46.0% on the year before), 16.5% a year over 6 years
- Revenue ₹1,603
| Quarter | Revenue |
|---|---|
| FY20 | ₹642 |
| FY21 | ₹690 |
| FY22 | ₹841 |
| FY23 | ₹945 |
| FY24 | ₹867 |
| FY25 | ₹1,098 |
| FY26 | ₹1,603 |
Growth on a year earlier
- Growth on a year earlier 46%
| Quarter | Growth on a year earlier |
|---|---|
| FY20 | – |
| FY21 | 7.5% |
| FY22 | 21.9% |
| FY23 | 12.4% |
| FY24 | −8.3% |
| FY25 | 26.6% |
| FY26 | 46% |
Jun 2026: ₹484 Cr (+49.8% on a year earlier), the 8th quarter in a row of growth
- Revenue (quarterly) ₹484
| Quarter | Revenue (quarterly) |
|---|---|
| Sep 2023 | ₹201 |
| Dec 2023 | ₹214 |
| Mar 2024 | ₹217 |
| Jun 2024 | ₹199 |
| Sep 2024 | ₹275 |
| Dec 2024 | ₹281 |
| Mar 2025 | ₹343 |
| Jun 2025 | ₹323 |
| Sep 2025 | ₹382 |
| Dec 2025 | ₹418 |
| Mar 2026 | ₹480 |
| Jun 2026 | ₹484 |
Growth on a year earlier
- Growth on a year earlier 49.8%
| Quarter | Growth on a year earlier |
|---|---|
| Sep 2023 | −18% |
| Dec 2023 | −8.2% |
| Mar 2024 | −20.2% |
| Jun 2024 | −15.3% |
| Sep 2024 | 36.8% |
| Dec 2024 | 31.3% |
| Mar 2025 | 58.1% |
| Jun 2025 | 62.3% |
| Sep 2025 | 38.9% |
| Dec 2025 | 48.8% |
| Mar 2026 | 39.9% |
| Jun 2026 | 49.8% |
Recent pace: the last four quarters grew +44.3% on average, against 16.5% a year over the longer run, so this year is growing faster than its own long-run rate.
Is growth speeding up? Revenue over the last 12 months grew +44.4%, against +45.7% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +69.6%, against +165.6% a year (rolling over).
Watch next
- Metric
- Order book and long-duration programs
- Threshold
- The executable order book falls quarter on quarter or its YoY growth drops below 15%.
- Which result
- the next result
How much of every ₹100 of sales does Avalon Technologies keep?
Avalon Technologies Ltd's operating margin was 12.0% in the Jun 2026 quarter, 3.0 percentage points higher than the same quarter a year ago. Across 7 years it has been between 7.0% and 12.0%. The latest quarter is within that range.
Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.
Why this happened. This is the operating-leverage catapult in its growth form: with 45-50% of costs below gross margin fixed or semi-fixed, each extra rupee of revenue drops through at a higher margin. Operating costs fell from about 29.6% of sales to about 22.7% over nine quarters. The benefit is already partly delivered (margin 12% against a mid-cycle 11%); what remains depends on revenue reaching the guided 2,020 to 2,084 Cr in FY27 and US losses closing.
Why the margin moved: operating margin changed +2.7 percentage points on the year while gross margin changed −0.9 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.
FY26: 11.0%, within a range of 7.0% to 12.0% over 7 years
- Operating margin 11.0%
| Quarter | Operating margin |
|---|---|
| FY20 | 10% |
| FY21 | 10% |
| FY22 | 12% |
| FY23 | 12% |
| FY24 | 7% |
| FY25 | 10% |
| FY26 | 11% |
Change on the year before (points)
- Change on the year before (points) +1.0 pts
| Quarter | Change on the year before (points) |
|---|---|
| FY20 | – |
| FY21 | 0.0 pts |
| FY22 | +2.0 pts |
| FY23 | 0.0 pts |
| FY24 | −5.0 pts |
| FY25 | +3.0 pts |
| FY26 | +1.0 pts |
Jun 2026: operating margin 12.0% (+3.0 points on a year earlier)
- Operating margin 12.0%
| Quarter | Operating margin |
|---|---|
| Sep 2023 | 6% |
| Dec 2023 | 8% |
| Mar 2024 | 8% |
| Jun 2024 | 2.2% |
| Sep 2024 | 11% |
| Dec 2024 | 12% |
| Mar 2025 | 12% |
| Jun 2025 | 9% |
| Sep 2025 | 10% |
| Dec 2025 | 11% |
| Mar 2026 | 12% |
| Jun 2026 | 12% |
Change on a year earlier (points)
- Change on a year earlier (points) +3.0 pts
| Quarter | Change on a year earlier (points) |
|---|---|
| Sep 2023 | – |
| Dec 2023 | −1.0 pts |
| Mar 2024 | −7.0 pts |
| Jun 2024 | −4.8 pts |
| Sep 2024 | +5.0 pts |
| Dec 2024 | +4.0 pts |
| Mar 2025 | +4.0 pts |
| Jun 2025 | +6.8 pts |
| Sep 2025 | −1.0 pts |
| Dec 2025 | −1.0 pts |
| Mar 2026 | 0.0 pts |
| Jun 2026 | +3.0 pts |
Watch next
- Metric
- Operating leverage on a fixed-cost base
- Threshold
- Quarterly revenue stalls near 480 Cr for two quarters while new-plant and hiring costs keep rising.
- Which result
- the next result
Is Avalon Technologies' profit turning into cash?
Over the last 3 years, 49% of Avalon Technologies Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹57.0 Cr of operating cash against ₹113 Cr of profit. After ₹55.0 Cr of spending on assets, ₹2.0 Cr was left over as free cash.
The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.
Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.
FY26: operating cash ₹57.0 Cr against profit ₹113 Cr; 49% of 3 years' profit came in as cash
- Operating cash ₹57.0
- Net profit ₹113
- Free cash ₹2
| Quarter | Operating cash | Net profit | Free cash |
|---|---|---|---|
| FY20 | ₹66 | ₹12 | – |
| FY21 | ₹6 | ₹23 | −₹12 |
| FY22 | ₹16 | ₹67 | −₹14 |
| FY23 | −₹13 | ₹52 | −₹60 |
| FY24 | ₹17 | ₹28 | −₹30 |
| FY25 | ₹25 | ₹63 | −₹32 |
| FY26 | ₹57 | ₹113 | ₹2 |
FY26: operating cash was 50% of profit (49% over three years)
- Operating cash as % of profit 50%
- Break-even line 100%
| Quarter | Operating cash as % of profit | Break-even line |
|---|---|---|
| FY20 | 300% | 100% |
| FY21 | 26% | 100% |
| FY22 | 24% | 100% |
| FY23 | −25% | 100% |
| FY24 | 61% | 100% |
| FY25 | 40% | 100% |
| FY26 | 50% | 100% |
Why 49% of profit came in as cash: the cash cycle got 49 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page.
What to look at next: less of the profit turns into cash than it should, and the cash cycle is 49 days longer. The next section looks at where the cash is stuck.
Where does Avalon Technologies' cash go?
Avalon Technologies Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 160 days in FY26, up from 111 days in FY21. It spent ₹159 Cr on assets over the last 3 years. Customers take 87 days to pay, and stock sits for 161 days on average.
Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.
Why this happened. New capacity supports the FY29 goal, but it reverses the capital-light message given in Feb and May 2026. The capex inflection model cuts the other way here: this is the start of a capex cycle, not the end of one, so returns will dip before they rise.
At FY26 sales of ₹1,603 Cr, each day of that cycle ties up about ₹4.4 Cr, so roughly ₹703 Cr is tied up in the business at any time.
FY26: customers took 87 days to pay and stock sat for 161 days, about 5.3 months of sales sitting as stock, for a full cycle of 160 days, longer than FY21's 111.
The full loop: cash goes out to suppliers and production on day 0. Stock sits for 161 days. Customers pay about 87 days after that. Suppliers are paid at 87 days. Together that makes the 160-day cycle.
FY26: a 160-day cash cycle, +49 days compared with FY21
- Cash cycle 160d
- Inventory days 161d
- Debtor days 87d
- Payable days 87d
| Quarter | Cash cycle | Inventory days | Debtor days | Payable days |
|---|---|---|---|---|
| FY20 | 82d | 138d | 65d | 121d |
| FY21 | 111d | 117d | 96d | 102d |
| FY22 | 152d | 153d | 77d | 78d |
| FY23 | 187d | 194d | 80d | 87d |
| FY24 | 223d | 209d | 79d | 64d |
| FY25 | 182d | 175d | 105d | 98d |
| FY26 | 160d | 161d | 87d | 87d |
Spending on assets: ₹159 Cr over the last 3 years, against ₹86.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹24.0 Cr (FY26): assets paid for that are not earning yet.
FY26: capex ₹55.0 Cr, work in progress ₹24.0 Cr, a build-out
- Capex ₹55.0
- Work-in-progress ₹24.0
| Quarter | Capex | Work-in-progress |
|---|---|---|
| FY21 | ₹18 | ₹0 |
| FY22 | ₹30 | ₹2 |
| FY23 | ₹47 | ₹15 |
| FY24 | ₹47 | ₹20 |
| FY25 | ₹57 | ₹10 |
| FY26 | ₹55 | ₹24 |
In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit.
Watch next
- Metric
- Chennai domestic plant and new land
- Threshold
- Land and building spend pushes net debt above 150 Cr without a stated budget.
- Which result
- the next result
What is Avalon Technologies' P/E ratio, and how does it compare with its own history?
Avalon Technologies Ltd's P/E is 102.5×, in the middle of its own history: higher than 66% of past readings. Its usual P/E (the middle reading) is 87.2×, over 3.5 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.
P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.
P/E 102.5× against a usual 87.2×: in the middle of its own history: higher than 66% of past readings
- P/E 102.7×
- Median 87.2×
| Week | P/E | Median |
|---|---|---|
| 21 Apr 2023 | 53.3× | 87.2× |
| 28 Apr 2023 | 50.1× | 87.2× |
| 5 May 2023 | 49.2× | 87.2× |
| 12 May 2023 | 47.8× | 87.2× |
| 19 May 2023 | 55.1× | 87.2× |
| 26 May 2023 | 56.5× | 87.2× |
| 2 Jun 2023 | 59.3× | 87.2× |
| 9 Jun 2023 | 67.0× | 87.2× |
| 16 Jun 2023 | 67.7× | 87.2× |
| 23 Jun 2023 | 68.7× | 87.2× |
| 30 Jun 2023 | 73.7× | 87.2× |
| 7 Jul 2023 | 84.0× | 87.2× |
| 14 Jul 2023 | 93.1× | 87.2× |
| 21 Jul 2023 | 85.4× | 87.2× |
| 28 Jul 2023 | 79.3× | 87.2× |
| 4 Aug 2023 | 76.8× | 87.2× |
| 11 Aug 2023 | 69.7× | 87.2× |
| 18 Aug 2023 | 64.2× | 87.2× |
| 25 Aug 2023 | 64.5× | 87.2× |
| 1 Sep 2023 | 67.3× | 87.2× |
| 8 Sep 2023 | 75.3× | 87.2× |
| 15 Sep 2023 | 72.2× | 87.2× |
| 22 Sep 2023 | 69.1× | 87.2× |
| 29 Sep 2023 | 69.2× | 87.2× |
| 6 Oct 2023 | 71.1× | 87.2× |
| 13 Oct 2023 | 65.9× | 87.2× |
| 20 Oct 2023 | 66.1× | 87.2× |
| 27 Oct 2023 | 62.8× | 87.2× |
| 3 Nov 2023 | 62.1× | 87.2× |
| 12 Nov 2023 | 75.0× | 87.2× |
| 17 Nov 2023 | 73.0× | 87.2× |
| 24 Nov 2023 | 73.3× | 87.2× |
| 1 Dec 2023 | 77.5× | 87.2× |
| 8 Dec 2023 | 78.7× | 87.2× |
| 15 Dec 2023 | 78.4× | 87.2× |
| 22 Dec 2023 | 84.6× | 87.2× |
| 29 Dec 2023 | 84.5× | 87.2× |
| 5 Jan 2024 | 83.6× | 87.2× |
| 12 Jan 2024 | 83.1× | 87.2× |
| 20 Jan 2024 | 81.3× | 87.2× |
| 25 Jan 2024 | 80.7× | 87.2× |
| 2 Feb 2024 | 76.3× | 87.2× |
| 9 Feb 2024 | 72.4× | 87.2× |
| 16 Feb 2024 | 76.4× | 87.2× |
| 23 Feb 2024 | 77.2× | 87.2× |
| 2 Mar 2024 | 79.5× | 87.2× |
| 7 Mar 2024 | 78.3× | 87.2× |
| 15 Mar 2024 | 73.1× | 87.2× |
| 22 Mar 2024 | 74.5× | 87.2× |
| 28 Mar 2024 | 74.4× | 87.2× |
| 5 Apr 2024 | 78.0× | 87.2× |
| 12 Apr 2024 | 78.3× | 87.2× |
| 19 Apr 2024 | 78.0× | 87.2× |
| 26 Apr 2024 | 78.4× | 87.2× |
| 3 May 2024 | 77.1× | 87.2× |
| 10 May 2024 | 76.4× | 87.2× |
| 18 May 2024 | 115.0× | 87.2× |
| 24 May 2024 | 113.5× | 87.2× |
| 31 May 2024 | 114.4× | 87.2× |
| 7 Jun 2024 | 115.4× | 87.2× |
| 14 Jun 2024 | 122.1× | 87.2× |
| 21 Jun 2024 | 123.8× | 87.2× |
| 28 Jun 2024 | 127.2× | 87.2× |
| 5 Jul 2024 | 126.7× | 87.2× |
| 12 Jul 2024 | 125.0× | 87.2× |
| 19 Jul 2024 | 121.0× | 87.2× |
| 26 Jul 2024 | 123.0× | 87.2× |
| 2 Aug 2024 | 121.1× | 87.2× |
| 9 Aug 2024 | 167.5× | 87.2× |
| 16 Aug 2024 | 173.0× | 87.2× |
| 23 Aug 2024 | 182.4× | 87.2× |
| 30 Aug 2024 | 184.5× | 87.2× |
| 6 Sep 2024 | 178.4× | 87.2× |
| 13 Sep 2024 | 192.0× | 87.2× |
| 20 Sep 2024 | 206.4× | 87.2× |
| 27 Sep 2024 | 215.4× | 87.2× |
| 4 Oct 2024 | 199.5× | 87.2× |
| 11 Oct 2024 | 222.5× | 87.2× |
| 18 Oct 2024 | 209.6× | 87.2× |
| 25 Oct 2024 | 208.6× | 87.2× |
| 1 Nov 2024 | 209.3× | 87.2× |
| 8 Nov 2024 | 182.2× | 87.2× |
| 14 Nov 2024 | 177.6× | 87.2× |
| 22 Nov 2024 | 196.7× | 87.2× |
| 29 Nov 2024 | 221.6× | 87.2× |
| 6 Dec 2024 | 205.0× | 87.2× |
| 13 Dec 2024 | 195.9× | 87.2× |
| 20 Dec 2024 | 222.5× | 87.2× |
| 27 Dec 2024 | 222.5× | 87.2× |
| 3 Jan 2025 | 222.5× | 87.2× |
| 10 Jan 2025 | 209.9× | 87.2× |
| 17 Jan 2025 | 188.9× | 87.2× |
| 24 Jan 2025 | 159.1× | 87.2× |
| 1 Feb 2025 | 158.6× | 87.2× |
| 7 Feb 2025 | 101.3× | 87.2× |
| 14 Feb 2025 | 91.1× | 87.2× |
| 21 Feb 2025 | 99.1× | 87.2× |
| 28 Feb 2025 | 95.1× | 87.2× |
| 7 Mar 2025 | 101.7× | 87.2× |
| 13 Mar 2025 | 96.6× | 87.2× |
| 21 Mar 2025 | 110.0× | 87.2× |
| 28 Mar 2025 | 108.4× | 87.2× |
| 4 Apr 2025 | 110.3× | 87.2× |
| 11 Apr 2025 | 116.8× | 87.2× |
| 17 Apr 2025 | 119.2× | 87.2× |
| 25 Apr 2025 | 120.4× | 87.2× |
| 2 May 2025 | 126.3× | 87.2× |
| 9 May 2025 | 83.1× | 87.2× |
| 16 May 2025 | 94.0× | 87.2× |
| 23 May 2025 | 91.2× | 87.2× |
| 30 May 2025 | 90.1× | 87.2× |
| 6 Jun 2025 | 90.8× | 87.2× |
| 13 Jun 2025 | 87.1× | 87.2× |
| 20 Jun 2025 | 87.6× | 87.2× |
| 27 Jun 2025 | 86.5× | 87.2× |
| 4 Jul 2025 | 87.2× | 87.2× |
| 11 Jul 2025 | 89.7× | 87.2× |
| 18 Jul 2025 | 90.7× | 87.2× |
| 25 Jul 2025 | 86.3× | 87.2× |
| 1 Aug 2025 | 89.7× | 87.2× |
| 8 Aug 2025 | 74.6× | 87.2× |
| 14 Aug 2025 | 69.8× | 87.2× |
| 22 Aug 2025 | 71.2× | 87.2× |
| 29 Aug 2025 | 69.3× | 87.2× |
| 5 Sep 2025 | 77.0× | 87.2× |
| 12 Sep 2025 | 80.9× | 87.2× |
| 19 Sep 2025 | 81.3× | 87.2× |
| 26 Sep 2025 | 82.9× | 87.2× |
| 3 Oct 2025 | 88.0× | 87.2× |
| 10 Oct 2025 | 102.7× | 87.2× |
| 17 Oct 2025 | 98.0× | 87.2× |
| 24 Oct 2025 | 93.5× | 87.2× |
| 31 Oct 2025 | 99.4× | 87.2× |
| 7 Nov 2025 | 79.3× | 87.2× |
| 14 Nov 2025 | 79.9× | 87.2× |
| 21 Nov 2025 | 74.8× | 87.2× |
| 28 Nov 2025 | 73.9× | 87.2× |
| 5 Dec 2025 | 65.8× | 87.2× |
| 12 Dec 2025 | 66.4× | 87.2× |
| 19 Dec 2025 | 66.8× | 87.2× |
| 26 Dec 2025 | 67.7× | 87.2× |
| 2 Jan 2026 | 68.2× | 87.2× |
| 9 Jan 2026 | 68.9× | 87.2× |
| 16 Jan 2026 | 69.1× | 87.2× |
| 23 Jan 2026 | 61.3× | 87.2× |
| 1 Feb 2026 | 66.5× | 87.2× |
| 6 Feb 2026 | 71.5× | 87.2× |
| 13 Feb 2026 | 73.2× | 87.2× |
| 20 Feb 2026 | 71.4× | 87.2× |
| 27 Feb 2026 | 70.8× | 87.2× |
| 6 Mar 2026 | 64.7× | 87.2× |
| 13 Mar 2026 | 61.1× | 87.2× |
| 20 Mar 2026 | 66.2× | 87.2× |
| 27 Mar 2026 | 66.9× | 87.2× |
| 2 Apr 2026 | 65.2× | 87.2× |
| 10 Apr 2026 | 73.5× | 87.2× |
| 17 Apr 2026 | 77.8× | 87.2× |
| 24 Apr 2026 | 72.3× | 87.2× |
| 30 Apr 2026 | 73.5× | 87.2× |
| 8 May 2026 | 82.0× | 87.2× |
| 15 May 2026 | 78.2× | 87.2× |
| 22 May 2026 | 87.1× | 87.2× |
| 29 May 2026 | 89.9× | 87.2× |
| 4 Jun 2026 | 96.8× | 87.2× |
| 5 Jun 2026 | 95.1× | 87.2× |
| 9 Jun 2026 | 96.9× | 87.2× |
| 10 Jun 2026 | 90.6× | 87.2× |
| 12 Jun 2026 | 99.8× | 87.2× |
| 17 Jun 2026 | 102.9× | 87.2× |
| 19 Jun 2026 | 103.2× | 87.2× |
| 24 Jun 2026 | 103.3× | 87.2× |
| 25 Jun 2026 | 103.5× | 87.2× |
| 1 Jul 2026 | 106.1× | 87.2× |
| 3 Jul 2026 | 105.8× | 87.2× |
| 10 Jul 2026 | 104.6× | 87.2× |
| 17 Jul 2026 | 102.0× | 87.2× |
| 24 Jul 2026 | 103.0× | 87.2× |
| 31 Jul 2026 | 107.0× | 87.2× |
| 7 Aug 2026 | 98.3× | 87.2× |
| 14 Aug 2026 | 97.1× | 87.2× |
| 21 Aug 2026 | 109.2× | 87.2× |
| 28 Aug 2026 | 111.6× | 87.2× |
| 4 Sep 2026 | 110.0× | 87.2× |
| 11 Sep 2026 | 113.4× | 87.2× |
| 18 Sep 2026 | 127.0× | 87.2× |
| 25 Sep 2026 | 116.6× | 87.2× |
| 28 Sep 2026 | 115.9× | 87.2× |
| 1 Oct 2026 | 114.2× | 87.2× |
| 9 Oct 2026 | 115.2× | 87.2× |
| 16 Oct 2026 | 99.5× | 87.2× |
| 23 Oct 2026 | 92.9× | 87.2× |
| 30 Oct 2026 | 102.7× | 87.2× |
Earnings per share, 12 months
- Earnings per share, 12 months ₹20
| Week | Earnings per share, 12 months |
|---|---|
| 21 Apr 2023 | – |
| 28 Apr 2023 | – |
| 5 May 2023 | – |
| 12 May 2023 | – |
| 19 May 2023 | – |
| 26 May 2023 | – |
| 2 Jun 2023 | – |
| 9 Jun 2023 | – |
| 16 Jun 2023 | – |
| 23 Jun 2023 | – |
| 30 Jun 2023 | ₹8 |
| 7 Jul 2023 | ₹8 |
| 14 Jul 2023 | ₹8 |
| 21 Jul 2023 | ₹8 |
| 28 Jul 2023 | ₹8 |
| 4 Aug 2023 | ₹8 |
| 11 Aug 2023 | ₹8 |
| 18 Aug 2023 | ₹8 |
| 25 Aug 2023 | ₹8 |
| 1 Sep 2023 | ₹8 |
| 8 Sep 2023 | ₹8 |
| 15 Sep 2023 | ₹8 |
| 22 Sep 2023 | ₹8 |
| 29 Sep 2023 | ₹8 |
| 6 Oct 2023 | ₹8 |
| 13 Oct 2023 | ₹8 |
| 20 Oct 2023 | ₹8 |
| 27 Oct 2023 | ₹8 |
| 3 Nov 2023 | ₹8 |
| 12 Nov 2023 | ₹8 |
| 17 Nov 2023 | ₹8 |
| 24 Nov 2023 | ₹8 |
| 1 Dec 2023 | ₹8 |
| 8 Dec 2023 | ₹8 |
| 15 Dec 2023 | ₹8 |
| 22 Dec 2023 | ₹8 |
| 29 Dec 2023 | ₹7 |
| 5 Jan 2024 | ₹7 |
| 12 Jan 2024 | ₹7 |
| 20 Jan 2024 | ₹7 |
| 25 Jan 2024 | ₹7 |
| 2 Feb 2024 | ₹7 |
| 9 Feb 2024 | ₹7 |
| 16 Feb 2024 | ₹7 |
| 23 Feb 2024 | ₹7 |
| 2 Mar 2024 | ₹7 |
| 7 Mar 2024 | ₹7 |
| 15 Mar 2024 | ₹7 |
| 22 Mar 2024 | ₹7 |
| 28 Mar 2024 | ₹7 |
| 5 Apr 2024 | ₹7 |
| 12 Apr 2024 | ₹7 |
| 19 Apr 2024 | ₹7 |
| 26 Apr 2024 | ₹7 |
| 3 May 2024 | ₹7 |
| 10 May 2024 | ₹7 |
| 18 May 2024 | ₹7 |
| 24 May 2024 | ₹7 |
| 31 May 2024 | ₹7 |
| 7 Jun 2024 | ₹7 |
| 14 Jun 2024 | ₹7 |
| 21 Jun 2024 | ₹7 |
| 28 Jun 2024 | ₹4 |
| 5 Jul 2024 | ₹4 |
| 12 Jul 2024 | ₹4 |
| 19 Jul 2024 | ₹4 |
| 26 Jul 2024 | ₹4 |
| 2 Aug 2024 | ₹4 |
| 9 Aug 2024 | ₹4 |
| 16 Aug 2024 | ₹4 |
| 23 Aug 2024 | ₹4 |
| 30 Aug 2024 | ₹4 |
| 6 Sep 2024 | ₹4 |
| 13 Sep 2024 | ₹4 |
| 20 Sep 2024 | ₹4 |
| 27 Sep 2024 | ₹3 |
| 4 Oct 2024 | ₹3 |
| 11 Oct 2024 | ₹3 |
| 18 Oct 2024 | ₹3 |
| 25 Oct 2024 | ₹3 |
| 1 Nov 2024 | ₹3 |
| 8 Nov 2024 | ₹3 |
| 14 Nov 2024 | ₹3 |
| 22 Nov 2024 | ₹3 |
| 29 Nov 2024 | ₹3 |
| 6 Dec 2024 | ₹3 |
| 13 Dec 2024 | ₹3 |
| 20 Dec 2024 | ₹3 |
| 27 Dec 2024 | ₹4 |
| 3 Jan 2025 | ₹4 |
| 10 Jan 2025 | ₹4 |
| 17 Jan 2025 | ₹4 |
| 24 Jan 2025 | ₹4 |
| 1 Feb 2025 | ₹4 |
| 7 Feb 2025 | ₹4 |
| 14 Feb 2025 | ₹4 |
| 21 Feb 2025 | ₹4 |
| 28 Feb 2025 | ₹4 |
| 7 Mar 2025 | ₹4 |
| 13 Mar 2025 | ₹4 |
| 21 Mar 2025 | ₹4 |
| 28 Mar 2025 | ₹7 |
| 4 Apr 2025 | ₹7 |
| 11 Apr 2025 | ₹7 |
| 17 Apr 2025 | ₹7 |
| 25 Apr 2025 | ₹7 |
| 2 May 2025 | ₹7 |
| 9 May 2025 | ₹7 |
| 16 May 2025 | ₹7 |
| 23 May 2025 | ₹7 |
| 30 May 2025 | ₹7 |
| 6 Jun 2025 | ₹7 |
| 13 Jun 2025 | ₹7 |
| 20 Jun 2025 | ₹7 |
| 27 Jun 2025 | ₹10 |
| 4 Jul 2025 | ₹10 |
| 11 Jul 2025 | ₹10 |
| 18 Jul 2025 | ₹10 |
| 25 Jul 2025 | ₹10 |
| 1 Aug 2025 | ₹10 |
| 8 Aug 2025 | ₹10 |
| 14 Aug 2025 | ₹10 |
| 22 Aug 2025 | ₹10 |
| 29 Aug 2025 | ₹10 |
| 5 Sep 2025 | ₹10 |
| 12 Sep 2025 | ₹10 |
| 19 Sep 2025 | ₹10 |
| 26 Sep 2025 | ₹12 |
| 3 Oct 2025 | ₹12 |
| 10 Oct 2025 | ₹12 |
| 17 Oct 2025 | ₹12 |
| 24 Oct 2025 | ₹12 |
| 31 Oct 2025 | ₹12 |
| 7 Nov 2025 | ₹12 |
| 14 Nov 2025 | ₹12 |
| 21 Nov 2025 | ₹12 |
| 28 Nov 2025 | ₹12 |
| 5 Dec 2025 | ₹12 |
| 12 Dec 2025 | ₹12 |
| 19 Dec 2025 | ₹12 |
| 26 Dec 2025 | ₹13 |
| 2 Jan 2026 | ₹13 |
| 9 Jan 2026 | ₹13 |
| 16 Jan 2026 | ₹13 |
| 23 Jan 2026 | ₹13 |
| 1 Feb 2026 | ₹13 |
| 6 Feb 2026 | ₹13 |
| 13 Feb 2026 | ₹13 |
| 20 Feb 2026 | ₹13 |
| 27 Feb 2026 | ₹13 |
| 6 Mar 2026 | ₹13 |
| 13 Mar 2026 | ₹13 |
| 20 Mar 2026 | ₹13 |
| 27 Mar 2026 | ₹14 |
| 2 Apr 2026 | ₹14 |
| 10 Apr 2026 | ₹14 |
| 17 Apr 2026 | ₹14 |
| 24 Apr 2026 | ₹14 |
| 30 Apr 2026 | ₹14 |
| 8 May 2026 | ₹14 |
| 15 May 2026 | ₹14 |
| 22 May 2026 | ₹14 |
| 29 May 2026 | ₹14 |
| 4 Jun 2026 | ₹14 |
| 5 Jun 2026 | ₹14 |
| 9 Jun 2026 | ₹14 |
| 10 Jun 2026 | ₹14 |
| 12 Jun 2026 | ₹14 |
| 17 Jun 2026 | ₹14 |
| 19 Jun 2026 | ₹14 |
| 24 Jun 2026 | ₹14 |
| 25 Jun 2026 | ₹17 |
| 1 Jul 2026 | ₹17 |
| 3 Jul 2026 | ₹17 |
| 10 Jul 2026 | ₹17 |
| 17 Jul 2026 | ₹17 |
| 24 Jul 2026 | ₹17 |
| 31 Jul 2026 | ₹17 |
| 7 Aug 2026 | ₹17 |
| 14 Aug 2026 | ₹17 |
| 21 Aug 2026 | ₹17 |
| 28 Aug 2026 | ₹17 |
| 4 Sep 2026 | ₹17 |
| 11 Sep 2026 | ₹17 |
| 18 Sep 2026 | ₹17 |
| 25 Sep 2026 | ₹17 |
| 28 Sep 2026 | ₹20 |
| 1 Oct 2026 | ₹20 |
| 9 Oct 2026 | ₹20 |
| 16 Oct 2026 | ₹20 |
| 23 Oct 2026 | ₹20 |
| 30 Oct 2026 | ₹20 |
PEG 2.05: above 1.0, so the P/E is bigger than the earnings growth rate
- PEG 2.05×
- PEG = 1.0 1.00×
| Quarter | PEG | PEG = 1.0 |
|---|---|---|
| Q1 FY24 | 0.97× | 1.00× |
| Q2 FY24 | 0.85× | 1.00× |
| Q3 FY24 | 1.32× | 1.00× |
| Q4 FY24 | 1.79× | 1.00× |
| Q1 FY25 | 2.35× | 1.00× |
| Q2 FY25 | 1.93× | 1.00× |
| Q3 FY25 | 1.31× | 1.00× |
| Q4 FY25 | 0.82× | 1.00× |
| Q1 FY26 | 1.08× | 1.00× |
| Q2 FY26 | 1.28× | 1.00× |
| Q3 FY26 | 1.10× | 1.00× |
| Q4 FY26 | 1.16× | 1.00× |
| Q1 FY27 | 2.05× | 1.00× |
Why the multiple is where it is: over the past year earnings per share moved +76.4% while the price moved +96.3%. The price did better than earnings, which pushed the multiple up within its own range.
Where the price move came from: over 3 years the price moved +60.0% a year; about +35.5% a year came from earnings growth and about +24.5 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.
In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple.
Is the Avalon Technologies business getting better or worse?
Avalon Technologies Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: profit growth has eased from +200.0% at its peak to +69.6%, but the business is still expanding, with ROCE rising at 27.4%. This is based on 11 quarters of 4 measures.
Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.
Growth year by year: revenue +46.0% in FY26, profit +79.4%
- Revenue growth 46.0%
| Quarter | Revenue growth |
|---|---|
| FY20 | – |
| FY21 | 7.5% |
| FY22 | 21.9% |
| FY23 | 12.4% |
| FY24 | −8.3% |
| FY25 | 26.6% |
| FY26 | 46% |
Profit growth, EPS growth
- Profit growth 79.4%
- EPS growth 76.4%
| Quarter | Profit growth | EPS growth |
|---|---|---|
| FY20 | – | – |
| FY21 | 91.7% | 79.4% |
| FY22 | 191.3% | 194% |
| FY23 | −22.4% | −19.8% |
| FY24 | −46.2% | −53% |
| FY25 | 125% | 125.1% |
| FY26 | 79.4% | 76.4% |
Three growth lines over twelve quarters: revenue stabilising, profit rolling over
- Revenue 44.4%
| Quarter | Revenue |
|---|---|
| Sep 2023 | – |
| Dec 2023 | 4.3% |
| Mar 2024 | −8.4% |
| Jun 2024 | −15.6% |
| Sep 2024 | −3.8% |
| Dec 2024 | 5.4% |
| Mar 2025 | 26.6% |
| Jun 2025 | 47.1% |
| Sep 2025 | 46.9% |
| Dec 2025 | 50.8% |
| Mar 2026 | 46% |
| Jun 2026 | 44.4% |
Profit, EPS
- Profit 69.6%
- EPS 65.4%
| Quarter | Profit | EPS |
|---|---|---|
| Sep 2023 | – | – |
| Dec 2023 | 7.3% | −1.1% |
| Mar 2024 | −47.2% | −53.8% |
| Jun 2024 | −62.7% | −67.3% |
| Sep 2024 | −32.6% | −38.6% |
| Dec 2024 | 4.5% | −1.5% |
| Mar 2025 | 125% | 125.4% |
| Jun 2025 | 300% | 300% |
| Sep 2025 | 200% | 201.6% |
| Dec 2025 | 108.7% | 106.1% |
| Mar 2026 | 79.4% | 76.3% |
| Jun 2026 | 69.6% | 65.4% |
ROCE: the return line, worked out each quarter
- ROCE 27.4%
| Quarter | ROCE |
|---|---|
| Sep 2023 | 21.1% |
| Dec 2023 | 20.1% |
| Mar 2024 | 8.5% |
| Jun 2024 | 6.3% |
| Sep 2024 | 8.9% |
| Dec 2024 | – |
| Mar 2025 | – |
| Jun 2025 | – |
| Sep 2025 | – |
| Dec 2025 | 21.5% |
| Mar 2026 | 23.3% |
| Jun 2026 | 27.4% |
Why it matters: when the lines disagree, each line above matters more than any single label.
Compound annual growth rate (%)
Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.
| Measure | 1yr | 3yr | 5yr | 10yr |
|---|---|---|---|---|
| Revenue | +46.0% | +19.3% | +18.4% | — |
| Profit | +79.4% | +29.5% | +37.5% | — |
| EPS | +76.4% | +23.1% | +34.5% | — |
| Share price | +96.3% | +60.0% | — | — |
What is the Avalon Technologies story, and has it been checked?
Avalon Technologies Ltd's story is not scored yet against the checks our research set on 10 October 2026. Where it sits in its own cycle: MID EXPANSION.
NOT YET CHECKED
From the numbers. Earnings are mid-expansion: four quarters of revenue growth between about 39% and 50%, operating margin rising from 10% to 12%, and no one-off in the profit since March 2025.
From the price. Price stage 2, week 37, above its 200-day line, relative strength falling.
From the research. Avalon is a build-to-print electronics maker for US and Indian industrial, rail, aerospace and clean-energy customers whose earnings are compounding through operating leverage and a shift to full-box assembly, but the…
Where they disagree. Earnings are mid-expansion: four quarters of revenue growth between about 39% and 50%, operating margin rising from 10% to 12%, and no one-off in the profit since March 2025.
The test written in advance. Measured by: the thesis as written as stated by the next result.
The test written in advance. Cash conversion and new capex. Measured by: Cash conversion and new capex Net debt rising above 150 Cr or FY27 operating cash flow below 40% of profit. by the next result.
What the company does. Revenue grew about 50% YoY in the June 2026 quarter and operating margin rose to 12% as fixed costs spread over more volume. An order book of 2,208 Cr covers 1.25 years of revenue, and the newer programs had barely started contributing in FY26.
The key numbers to watch, and the level that would change the picture
| Measure | Why it matters | What to watch |
|---|---|---|
| Operating leverage on a fixed-cost base | Operating margin rose from about 8% to 12% while gross margin fell, because fixed costs are spread over a revenue base that more… | Quarterly revenue stalls near 480 Cr for two quarters while new-plant and hiring costs keep rising. |
| Order book and long-duration programs | Executable order book 2,208 Cr (1.25x trailing revenue) plus 1,256 Cr of longer contracts; it grew in each of the last four calls. | The executable order book falls quarter on quarter or its YoY growth drops below 15%. |
| Shift to full-box assembly | Box-build share rose from 44.5% of revenue in FY22 to 59.9% in Q1 FY27, deepening customer lock-in. | Box-build share falls back below 55% for two quarters. |
| US plant losses closing | US quarterly losses fell from about 14 Cr to 5 Cr (Q4 FY26) and about 4 Cr (Q1 FY27); EBITDA breakeven guided by end-FY27. | US quarterly loss widens back above 6 Cr. |
| New programs entering volume | Semiconductor equipment, aerospace cabin assemblies, locomotive subsystems, Kavach and HVDC are moving from approval to… | The semiconductor equipment program has not reached volume production by the Q4 FY27 call. |
| Chennai domestic plant and new land | The domestic-demand plant is complete with commercial production from Q2 FY27; | Land and building spend pushes net debt above 150 Cr without a stated budget. |
Everything further down this page is evidence for or against these.
FY26-Q2FY27-Q1
The dot is where the company is now; the dashed line is the level that would settle the question; a tinted band is where management says it is heading.
What the surface reading misses. The surface reading is: Net profit up 150% in a year reads like an earnings explosion. The research reads it further: Most of the 150% is a weak base: the June 2025 quarter earned only 14 Cr at a 9% operating margin, the year's low point while new-program costs were front-loaded. The cleaner measure is revenue, up 49.8%, plus the operating margin move from 9% to 12% on that larger revenue.
What the surface reading misses. The surface reading is: Profit fell 15% quarter on quarter, growth stalling. The research reads it further: The March quarter was lifted by other income of 12 Cr, which management said was a currency gain booked below operating profit. Strip that out and the core business earned slightly more in June than in March. This also answers the code's other-income question: other income is not a steady treasury stream; it was 2 to 3 Cr in most quarters and spiked in the Dec 2024 and Mar 2026 quarters.
- 1 · Operating leveragebuilding
- 2 · Value-added mixquiet
- 3 · Management changequiet
- 4 · Paying down debtquiet
- 5 · Regulatory approvalbuilding
- 6 · Order-book winsbuilding
- 7 · Consolidationquiet
- 8 · Demerger or value unlockquiet
- 9 · Buybackquiet
- 10 · New geographiesquiet
- 11 · More business from existing customersquiet
- 12 · New product launchquiet
- 13 · Mandatory normsquiet
- 14 · A bigger market to servequiet
- 15 · Market-share gainsquiet
- 16 · Asset qualityquiet
Lever 1 · Operating leverage: building. Operating margin rose from about 8% to 12% while gross margin fell, because fixed costs are spread over a revenue base that more than doubled. What proves it keeps working: Operating leverage on a fixed-cost base. It stops working if Quarterly revenue stalls near 480 Cr for two quarters while new-plant and hiring costs keep rising.
Lever 6 · Order-book wins: building. Executable order book 2,208 Cr (1.25x trailing revenue) plus 1,256 Cr of longer contracts; it grew in each of the last four calls. What proves it keeps working: Order book and long-duration programs. It stops working if The executable order book falls quarter on quarter or its YoY growth drops below 15%.
Lever 5 · Regulatory approval: building. Semiconductor equipment, aerospace cabin assemblies, locomotive subsystems, Kavach and HVDC are moving from approval to production; they added only about 30 Cr in FY26. What proves it keeps working: New programs entering volume. It stops working if The semiconductor equipment program has not reached volume production by the Q4 FY27 call.
Sources: our stock research file (10 October 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
The whole page in one table. Each row links to its section.
Did Avalon Technologies management deliver what it promised?
What Avalon Technologies Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
Earlier Capex-Light Plan vs Immediate Land Expansion · 5 August 2026. In the Feb 2026 call, management described a capex-light plan of approximately INR50 crores annually and said a larger facility would be considered only in 2 or 3 years, not in the near or medium term. In the Aug 2026 call, management said it was already acquiring a large Chennai land parcel to support growth over the next decade, representing an earlier and potentially larger capital commitment without explaining how it fits with the prior plan.
Defense Business Maturity Reframed · 5 August 2026. The Feb 2026 call presented defense as an active area with recently onboarded customers and products for an integrated battlefield command system. In Aug 2026, management instead characterized defense as a segment still in the early hiring and expansion phase with a three-year horizon and no large numbers, creating an unexplained change in the apparent maturity and scale of the opportunity.
Chennai Phase 2 Brownfield Expansion Milestone Silently Dropped · 7 May 2026. In the Nov 2025 call, management made a specific, time-bound commitment to complete Phase 2 of the Chennai brownfield expansion by the end of Q3 FY26 (December 2025). The Feb 2026 call, held after this deadline had passed, contained no confirmation of completion, and neither does the May 2026 call - now more than five months beyond the committed date. An infrastructure milestone publicly committed with a specific quarter-end deadline disappearing from two consecutive calls without any acknowledgment, update, or explanation of delay is a credibility concern that shareholders tracking capacity readiness would need addressed.
US Operations Profitability Reversal · 5 February 2026. In February 2025, management highlighted that US losses had reduced to Rs 3.4 crores and guided for positive profitability within 12-18 months. In direct contradiction, the February 2026 call reveals that losses have widened significantly to Rs 7-9 crores per quarter, and the timeline for profitability has been pushed out to the next fiscal year. Earlier call (Feb 2025): “Reporting a net loss of approximately Rs. 3.4 crores. I think in the next 12 months to 18 months, you could possibly see some positive numbers out of there.” Later call (Feb 2026): “US manufacturing. had PAT losses of around 7 crores. In the last couple of quarters, it was approximately 9 crores each quarter. We believe next year. we will move toward a better profit profile.”
Every quote above is taken word for word from the company’s own earnings calls.
What is Avalon Technologies management's track record?
Cash generation has not fully matched profit, so the next land and factory plan needs a clear budget and financing terms.
Regulatory and governance record
No relevant fraud finding, conduct order, proven lie or named material live case is established. The Cryptohud deposit-platform allegation is not tied to this listed manufacturer; generic SEBI listings do not establish an Avalon order. The actual promoter sale is monitored separately.
Checked 14 October 2026.
How much does Avalon Technologies earn on its capital?
Avalon Technologies Ltd earned a ROCE of 19% in FY26. That is up from a low of 6% in FY24. Its return on capital used (ROIC) is 3.5 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 7.0% net margin and 1.27× asset turnover (sales divided by assets).
Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.
Why the return is what it is (FY26): a 7.0% net margin × 1.27× asset turnover × 1.75× leverage (assets divided by equity) ≈ 15.6% on equity. The margin does its share; borrowing is a big part of it.
The key test, return on capital used minus the cost of capital: 15.5% − 12.0% = +3.5 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error.
The 15.5% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 14.2%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.
FY26: ROCE 19%, the climb back from FY24's 6%
- ROCE 19%
- ROIC (annual) 14.2%
- Cost of capital 12%
| Quarter | ROCE | ROIC (annual) | Cost of capital |
|---|---|---|---|
| FY21 | 18% | – | 12% |
| FY22 | 24% | 17.7% | 12% |
| FY23 | 17% | 15.9% | 12% |
| FY24 | 6% | 5.7% | 12% |
| FY25 | 13% | 10.3% | 12% |
| FY26 | 19% | 14.2% | 12% |
Q4 FY26: ROCE 18.2% (last 12 months) against a 12.0% cost of capital
- ROCE (12 months) 18.2%
- ROIC (12 months) 14.1%
- Cost of capital 12.0%
| Quarter | ROCE (12 months) | ROIC (12 months) | Cost of capital |
|---|---|---|---|
| Q2 FY24 | 11.9% | – | 12% |
| Q3 FY24 | – | – | 12% |
| Q4 FY24 | 6.1% | 10.8% | 12% |
| Q1 FY25 | – | 5.6% | 12% |
| Q2 FY25 | 6.6% | 3.6% | 12% |
| Q3 FY25 | – | 5.4% | 12% |
| Q4 FY25 | 12.3% | 7.5% | 12% |
| Q1 FY26 | – | 10.2% | 12% |
| Q2 FY26 | 16.1% | 13% | 12% |
| Q3 FY26 | – | 13.2% | 12% |
| Q4 FY26 | 18.2% | 13.6% | 12% |
| Q1 FY27 | – | 14.1% | 12% |
Does Avalon Technologies have too much debt?
Avalon Technologies Ltd has total debt of ₹213 Cr against shareholder equity of ₹722 Cr as of Jun 2026, so its debt is 0.30× its equity, which is very little. Year by year, that ratio went from 3.66 in FY22 to 0.30 in FY26. So the returns on this page come from the business, not from borrowed money.
Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.
FY26: debt ₹213 Cr, 0.30× equity
- Total debt ₹213
| Quarter | Total debt |
|---|---|
| FY22 | ₹318 |
| FY23 | ₹342 |
| FY24 | ₹209 |
| FY25 | ₹180 |
| FY26 | ₹213 |
Debt-to-equity
- Debt-to-equity 0.30×
| Quarter | Debt-to-equity |
|---|---|
| FY22 | 3.66× |
| FY23 | 0.64× |
| FY24 | 0.38× |
| FY25 | 0.29× |
| FY26 | 0.30× |
Jun 2026: debt ₹213 Cr, debt-to-equity 0.30
- Total debt (quarterly) ₹213
| Quarter | Total debt (quarterly) |
|---|---|
| Sep 2023 | ₹136 |
| Dec 2023 | ₹136 |
| Mar 2024 | ₹209 |
| Jun 2024 | ₹209 |
| Sep 2024 | ₹199 |
| Dec 2024 | ₹199 |
| Mar 2025 | ₹180 |
| Jun 2025 | ₹180 |
| Sep 2025 | ₹163 |
| Dec 2025 | ₹163 |
| Mar 2026 | ₹213 |
| Jun 2026 | ₹213 |
Debt-to-equity
- Debt-to-equity 0.30×
| Quarter | Debt-to-equity |
|---|---|
| Sep 2023 | 0.26× |
| Dec 2023 | 0.26× |
| Mar 2024 | 0.38× |
| Jun 2024 | 0.38× |
| Sep 2024 | 0.35× |
| Dec 2024 | 0.35× |
| Mar 2025 | 0.29× |
| Jun 2025 | 0.29× |
| Sep 2025 | 0.25× |
| Dec 2025 | 0.25× |
| Mar 2026 | 0.30× |
| Jun 2026 | 0.30× |
What is the Avalon Technologies shareholding pattern?
Promoters cut their stake in Avalon Technologies Ltd by 10.3 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 40.4% of the company. Foreign institutions moved +8.2 points over the same period, to 11.1%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.
Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.
Over the last two years: Promoters: −10.3 points over 8 quarters, to 40.4%; Foreign institutions: +8.2 points over 8 quarters, to 11.1%; Domestic institutions: −1.9 points over 8 quarters, to 21.8%.
Why the owners changed: foreign institutions moved +8.2 points and domestic institutions −1.9 points over 8 quarters, while promoters moved −10.3 points. One group of institutions took over shares from the other; it is not a change of mind by the people running the company.
Year ends: promoters −6.5 points from Mar 2024 to Mar 2026
- Promoters 44.41%
- Foreign inst. 6.42%
- Domestic inst. 26.17%
- Public 22.98%
| Quarter | Promoters | Foreign inst. | Domestic inst. | Public |
|---|---|---|---|---|
| Mar 2024 | 50.91% | 2.43% | 22.47% | 24.19% |
| Mar 2025 | 50.57% | 7.13% | 17.32% | 24.99% |
| Mar 2026 | 44.41% | 6.42% | 26.17% | 22.98% |
Promoters cut their stake by 10.3 points over 8 quarters
- Promoters 40.35%
- Foreign inst. 11.13%
- Domestic inst. 21.82%
- Public 26.71%
| Quarter | Promoters | Foreign inst. | Domestic inst. | Public |
|---|---|---|---|---|
| Sep 2023 | 51.09% | 9.23% | 16.28% | 23.39% |
| Dec 2023 | 50.98% | 5.7% | 17.07% | 26.27% |
| Mar 2024 | 50.91% | 2.43% | 22.47% | 24.19% |
| Jun 2024 | 50.88% | 2.56% | 23.19% | 23.38% |
| Sep 2024 | 50.69% | 2.97% | 23.75% | 22.59% |
| Dec 2024 | 50.58% | 5.39% | 20.87% | 23.16% |
| Mar 2025 | 50.57% | 7.13% | 17.32% | 24.99% |
| Jun 2025 | 44.6% | 8.67% | 22.01% | 24.72% |
| Sep 2025 | 44.46% | 10.04% | 22.84% | 22.65% |
| Dec 2025 | 44.42% | 7.56% | 25.4% | 22.61% |
| Mar 2026 | 44.41% | 6.42% | 26.17% | 22.98% |
| Jun 2026 | 44.39% | 7.81% | 24.72% | 23.08% |
| Sep 2026 | 40.35% | 11.13% | 21.82% | 26.71% |
How far is Avalon Technologies from balance-sheet trouble?
For Avalon Technologies Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.
The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.
How does Avalon Technologies rank in its industry?
70.1 out of 100, rank 2 of 10 in Consumer Electronics - EMS, with 96% of the evidence available.
Avalon Technologies Ltd scores 70.1 out of 100 against the 10 companies it is compared with in Consumer Electronics - EMS, ranking 2. Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks.
The four parts add up to the total exactly: 30.3 + 17.4 + 8.4 + 14 = 70.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here.
What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.
Which companies is Avalon Technologies compared with?
Avalon Technologies ranks 2 of 10 Consumer Electronics - EMS companies on the 4-Factor Sector Score, with 70.1 out of 100.
- 1Syrma SGS Technology LtdSYRMA · leader · Most evidence points up · 82% evidence72.7out of 100
How the score adds up
Growth & earnings 29.8/35 · Revenue 62.4% · Profit 91.3% · Operating margin change 0 points · 95% evidenceCapital efficiency 16.9/25 · ROCE 16.8% · Operating margin 10% · 76% evidenceValuation 7.5/20 · P/E 68.9× · PEG — · 50% evidenceRelative strength 18.5/20 · Lead over its industry 32.3% · Lead over NIFTY 500 53.1% · 1 year 99.7% · 100% evidence · 12 of 12 weeks aheadExact sum: 29.8 + 16.9 + 7.5 + 18.5 = 72.7 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. - 2Avalon Technologies Ltd this pageAVALON · leader · Most evidence points up · 96% evidence70.1out of 100
How the score adds up
Growth & earnings 30.3/35 · Revenue 44.4% · Profit 69.6% · Operating margin change 3 points · 88% evidenceCapital efficiency 17.4/25 · ROCE 19.3% · Operating margin 12% · 100% evidenceValuation 8.4/20 · P/E 103× · PEG 2.18 · 100% evidenceRelative strength 14.0/20 · Lead over its industry 30.5% · Lead over NIFTY 500 49.8% · 1 year 72.2% · 100% evidence · 12 of 12 weeks aheadExact sum: 30.3 + 17.4 + 8.4 + 14 = 70.1 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. - 3Kaynes Technology India LtdKAYNES · quiet · Evidence leans down · 74% evidence49.5out of 100
How the score adds up
Growth & earnings 16.9/35 · Revenue 34.9% · Profit 8.8% · Operating margin change -1 points · 88% evidenceCapital efficiency 15.9/25 · ROCE 12.7% · Operating margin 16% · 100% evidenceValuation 8.5/20 · P/E 60.6× · PEG 3.18 · 65% evidenceRelative strength 8.2/20 · Lead over its industry — · Lead over NIFTY 500 -13.9% · 1 year -53.3% · 25% evidence · 9 of 12 weeks aheadExact sum: 16.9 + 15.9 + 8.5 + 8.2 = 49.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 4PG Electroplast LtdPGEL · quiet · Evidence leans down · 100% evidence46.6out of 100
How the score adds up
Growth & earnings 19.2/35 · Revenue 21% · Profit -14.9% · Operating margin change 1.4 points · 100% evidenceCapital efficiency 10.3/25 · ROCE 10.3% · Operating margin 6% · 100% evidenceValuation 10.7/20 · P/E 70.1× · PEG 2.3 · 100% evidenceRelative strength 6.4/20 · Lead over its industry -16.2% · Lead over NIFTY 500 1.1% · 1 year -7.2% · 100% evidence · 5 of 12 weeks aheadExact sum: 19.2 + 10.3 + 10.7 + 6.4 = 46.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 5Cyient DLM LtdCYIENTDLM · leader · Evidence leans down · 100% evidence46.6out of 100
How the score adds up
Growth & earnings 12.4/35 · Revenue -1.5% · Profit 2.5% · Operating margin change -1 points · 100% evidenceCapital efficiency 10.1/25 · ROCE 9.9% · Operating margin 9% · 100% evidenceValuation 6.4/20 · P/E 70.9× · PEG 3.35 · 100% evidenceRelative strength 17.7/20 · Lead over its industry 32.4% · Lead over NIFTY 500 51.6% · 1 year 66% · 100% evidence · 12 of 12 weeks aheadExact sum: 12.4 + 10.1 + 6.4 + 17.7 = 46.6 · What this means: Relative strength against the index is 51.6%, and revenue and profit growth are weak. - 6Dixon Technologies (India) LtdDIXON · quiet · Evidence leans down · 82% evidence45.4out of 100
How the score adds up
Growth & earnings 9.6/35 · Revenue 20.8% · Profit 2.4% · Operating margin change -1.1 points · 95% evidenceCapital efficiency 17.9/25 · ROCE 29.2% · Operating margin 2.7% · 76% evidenceValuation 14.9/20 · P/E 43.4× · PEG — · 50% evidenceRelative strength 3.0/20 · Lead over its industry -21.3% · Lead over NIFTY 500 -6.1% · 1 year -29% · 100% evidence · 8 of 12 weeks aheadExact sum: 9.6 + 17.9 + 14.9 + 3 = 45.4 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. - 7Virtuoso Optoelectronics LtdVOEPL · losing its lead · Evidence leans down · 81% evidence43.2out of 100
How the score adds up
Growth & earnings 17.5/35 · Revenue 36.2% · Profit 10.8% · Operating margin change -1.2 points · 88% evidenceCapital efficiency 7.7/25 · ROCE 9.7% · Operating margin 8.5% · 100% evidenceValuation 6.9/20 · P/E 94× · PEG 9.05 · 100% evidenceRelative strength 11.1/20 · Lead over its industry — · Lead over NIFTY 500 14.4% · 1 year -8.1% · 25% evidence · 9 of 11 weeks aheadExact sum: 17.5 + 7.7 + 6.9 + 11.1 = 43.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 8Optiemus Infracom LtdOPTIEMUS · leader · Evidence leans down · 74% evidence37.2out of 100
How the score adds up
Growth & earnings 12.9/35 · Revenue 20.9% · Profit 9.1% · Operating margin change -2.6 points · 88% evidenceCapital efficiency 8.1/25 · ROCE 10.9% · Operating margin 3.4% · 100% evidenceValuation 3.7/20 · P/E 103× · PEG 9.25 · 65% evidenceRelative strength 12.5/20 · Lead over its industry — · Lead over NIFTY 500 62.4% · 1 year 35.3% · 25% evidence · 12 of 12 weeks aheadExact sum: 12.9 + 8.1 + 3.7 + 12.5 = 37.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 9Epack Durable LtdEPACK · quiet · Too little evidence to rank firmly · 56% evidence35.9out of 100
How the score adds up
Growth & earnings 15.8/35 · Revenue 23.7% · Profit -80% · Operating margin change 1.4 points · 74% evidenceCapital efficiency 2.6/25 · ROCE 4.5% · Operating margin 0.9% · 100% evidenceValuation 10.0/20 · P/E — · PEG — · 0% evidenceRelative strength 7.5/20 · Lead over its industry — · Lead over NIFTY 500 -30% · 1 year -54.5% · 25% evidence · 0 of 12 weeks aheadExact sum: 15.8 + 2.6 + 10 + 7.5 = 35.9 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. - 10Amber Enterprises India LtdAMBER · quiet · Most evidence points down · 78% evidence26.6out of 100
How the score adds up
Growth & earnings 10.2/35 · Revenue 14.6% · Profit -56.3% · Operating margin change 0.8 points · 83% evidenceCapital efficiency 8.8/25 · ROCE 10.3% · Operating margin 8% · 76% evidenceValuation 7.2/20 · P/E 100× · PEG — · 50% evidenceRelative strength 0.4/20 · Lead over its industry -28.5% · Lead over NIFTY 500 -14% · 1 year -27% · 100% evidence · 0 of 12 weeks aheadExact sum: 10.2 + 8.8 + 7.2 + 0.4 = 26.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.
Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.
The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.
Related companies: Consumer Electronics - EMS, all 10 compared on one page.
Which companies are close to Avalon Technologies in size?
Avalon Technologies is the 6th largest of 10 Consumer Electronics - EMS companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Kaynes Technology India, Amber Enterprises India and PG Electroplast. Just below it: Optiemus Infracom, Cyient DLM and Virtuoso Optoelectronics.
Consumer Electronics - EMS companies close in size
- Kaynes Technology India Ltd ₹21,047 crore
- Amber Enterprises India Ltd ₹20,685 crore
- PG Electroplast Ltd ₹15,200 crore
- Avalon Technologies Ltd ₹13,713 crore
- Optiemus Infracom Ltd ₹7,495 crore
- Cyient DLM Ltd ₹5,955 crore
- Virtuoso Optoelectronics Ltd ₹1,654 crore
All 10 Consumer Electronics - EMS companies, largest first
Companies close in size in other industries
- Bharat Coking Coal Ltd ₹13,836 crore · Mining/Minerals
- Lumax Auto Technologies Ltd ₹13,786 crore · Auto Ancillaries - Diversified
- Avalon Technologies Ltd ₹13,713 crore
- L T Foods Ltd ₹13,664 crore · FMCG - Rice
- DCM Shriram Ltd ₹13,629 crore · Sugar
What else do people ask about Avalon Technologies?
What is Avalon Technologies's share price today?
Avalon Technologies Ltd's share price is ₹2,041.00, +96.3% over the past year. The whole company is worth ₹13,653 Cr on the market.
In the last 52 weeks it traded between ₹803 to ₹2,538; today it is 71% of the way up from the low, 21.0% above its 200-day average (as of 4 November 2026).
What were Avalon Technologies's latest quarterly results?
Avalon Technologies Ltd reported revenue of ₹484 Cr and net profit of ₹35.0 Cr for the Jun 2026 quarter. Revenue rose 49.8% and profit rose 150.0% compared with a year earlier. Earnings per share were ₹5.22.
The operating margin was 12.0%, 3.0 percentage points higher than a year earlier (as of 4 November 2026).
What is Avalon Technologies's market cap?
Avalon Technologies Ltd's market capitalisation is ₹13,653 Cr at a share price of ₹2,041.00. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026).
How is Avalon Technologies performing?
Avalon Technologies Ltd's share price has been rising for 37 weeks. In its latest quarter, revenue rose 49.8% and profit rose 150.0% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 46 weeks running (as of 4 November 2026).
Will Avalon Technologies's share price go up?
This page does not forecast Avalon Technologies Ltd's share price. What it shows instead: the share price is ₹2,041.00, and it has been rising for 37 weeks. Its P/E of 102.5× is higher than 66% of its own last 4 years (as of 4 November 2026).
Who owns Avalon Technologies?
Promoters own 40.4% of Avalon Technologies Ltd, foreign institutions 11.1%, domestic institutions 21.8% and the public 26.7% (latest quarter). The biggest change over the last two years: Promoters cut their stake by 10.3 percentage points over 8 quarters (as of 4 November 2026).
Does Avalon Technologies have too much debt?
No, Avalon Technologies Ltd has little debt: its debt is 0.30× its equity, and its operating profit is 12 times its interest bill. FY26 borrowings were ₹213 Cr against equity of ₹721 Cr.
So the returns on this page come from the business, not borrowed money (as of 4 November 2026).
Where is Avalon Technologies in its business cycle?
Avalon Technologies Ltd's FY26 operating margin was 11.0%, against a 7-year range of 7.0% to 12.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 12.0%.
Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026).
What could break the Avalon Technologies story?
The main question: profits are rising, but only 49% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch.
On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026).
Is Avalon Technologies a stock worth studying right now?
What the numbers show: Avalon Technologies Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether the cash starts to follow the profit.
Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026).
Is there a Avalon Technologies share price forecast for 2026?
What management itself guided: FY27 revenue growth 26-30%. 2 changes in Avalon Technologies' own numbers look lasting: more business from existing customers and a bigger order book. Also showing up, but too early to call lasting: costs spread over more sales.
What would change the story: Quarterly revenue stalls near 480 Cr for two quarters while new-plant and hiring costs keep rising.
Where does this page get Avalon Technologies' management information?
From Avalon Technologies' results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results.
Where do these numbers come from?
Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.
Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.
See the plain-text version of this page.
More lists
Every Sector Alpha list, grouped
Stock screens
Market lists
Themes
Sectors
US stocks
X · Instagram · YouTube · About · Newsletter · Newsletter archive
This is research, not advice. We’re not SEBI-registered.