Avalon Technologies Ltd - Stock Valuation and Financial Performance

BSE: 543896 | NSE: AVALON | Electronics - Components | Small Cap

Avalon Technologies Share Price

494 0.70 0.14%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Avalon Technologies

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Semi Strong

Avalon Technologies stock performance -

mw4me loader
P/E Ratio (SA):
74.89
Market Cap:
3,241.6 Cr.
52-wk low:
347.3
52-wk high:
732

Is Avalon Technologies Ltd an attractive stock to invest in?

1. Is Avalon Technologies Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Avalon Technologies Ltd is a below average quality company.

2. Is Avalon Technologies Ltd undervalued or overvalued?

The key valuation ratios of Avalon Technologies Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is Avalon Technologies Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Avalon Technologies Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Avalon Technologies:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Avalon Technologies Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 6.9%6.8%9.3%7.2%-
Value Creation
Index
-0.5-0.5-0.3-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 327369435479464
Sales YoY Gr.-12.9%17.7%10.3%-
Adj EPS 1.51.94.356.6
YoY Gr.-25%133.5%15.3%-
BVPS (₹) 33.735.740.358.1101.7
Adj Net
Profit
810.424.128.943
Cash Flow from Ops. 35.984.4-4.3-18.9-
Debt/CF from Ops. 3.61.6-32.8-6.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NANA13.6%10.3%
Adj EPS NANA49.9%15.3%
BVPSNANA20%44%
Share Price - - - -

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
4.25.211.16.58.3
Op. Profit
Mgn %
10.58.510.811.811.5
Net Profit
Mgn %
2.42.85.669.3
Debt to
Equity
0.70.70.60.4-
Working Cap
Days
0317257259246
Cash Conv.
Cycle
0203152161188

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 8.20%

Sales growth is growing at healthy rate in last 3 years 13.58%

Net Profit is growing at healthy rate in last 3 years 49.85%

Debt to equity has declined versus last 3 years average to 0.36

Sales growth is not so good in last 4 quarters at 2.04%

Latest Financials - Avalon Technologies Ltd.

Standalone Consolidated
TTM EPS (₹) 6.6 6.6
TTM Sales (₹ Cr.) 464 922
BVPS (₹.) 101.7 82.1
Reserves (₹ Cr.) 655 527
P/BV 4.85 6.01
PE 74.89 74.29
From the Market
52 Week Low / High (₹) 347.30 / 731.95
All Time Low / High (₹) 347.30 / 731.95
Market Cap (₹ Cr.) 3,242
Equity (₹ Cr.) 13.1
Face Value (₹) 2
Industry PE 88.6

Management X-Ray of Avalon Technologies:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Avalon Technologies

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'20Mar'21Mar'22Mar'23
Sales327369435479
Operating Expenses 296338388423
Manufacturing Costs66710
Material Costs244293331355
Employee Cost 31283542
Other Costs 14121517
Operating Profit 31314756
Operating Profit Margin (%) 9.5%8.5%10.8%11.7%
Other Income 1375
Interest 20171218
Depreciation 4365
Exceptional Items 0000
Profit Before Tax 7143638
Tax 22910
Profit After Tax 6122728
PAT Margin (%) 1.7%3.1%6.3%5.9%
Adjusted EPS (₹)1.02.04.94.9
Dividend Payout Ratio (%)0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 190209225337
Share Capital 55212
Reserves 185204224325
Minority Interest0000
Debt125125130116
Long Term Debt872120
Short Term Debt11811811096
Trade Payables66985765
Others Liabilities 202430426
Total Liabilities 401457443943

Fixed Assets

Gross Block1001094857
Accumulated Depreciation6972610
Net Fixed Assets31364246
CWIP 30212
Investments 11868788
Inventories128111114174
Trade Receivables185170141132
Cash Equivalents 23267420
Others Assets20264872
Total Assets 401457443943

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 3684-4-19
PBT 6123638
Adjustment 22131716
Changes in Working Capital 1262-48-62
Tax Paid -4-2-10-12
Cash Flow From Investing Activity -9-79-5-16
Capex -9-6-7-19
Net Investments 0-75-10
Others 1333
Cash Flow From Financing Activity -17-3-10449
Net Proceeds from Shares -170481
Net Proceeds from Borrowing 70103
Interest Paid -16-11-11-17
Dividend Paid 0000
Others -81-9-18
Net Cash Flow 103-19414
PARTICULARSMar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)3.146.1212.8210.09
ROCE (%)8.819.5713.979.81
Asset Turnover Ratio0.820.860.970.69
PAT to CFO Conversion(x)67-0.15-0.68
Working Capital Days
Receivable Days206175131104
Inventory Days14311895110
Payable Days981028663

Avalon Technologies Ltd Stock News

Avalon Technologies Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Avalon Technologies on 28-Mar-2024 16:01 is ₹494.0.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Avalon Technologies stood at ₹3,241.6.
The latest P/E ratio of Avalon Technologies as of 28-Mar-2024 16:01 is 74.89.
The latest P/B ratio of Avalon Technologies as of 28-Mar-2024 16:01 is 4.85.
The 52-week high of Avalon Technologies is ₹732.0 and the 52-week low is ₹347.3.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Avalon Technologies is ₹463.7 ( Cr.) .

About Avalon Technologies Ltd

The company was incorporated as Avalon Technologies Private Limited, a private limited company, at Chennai under the Companies Act, 1956 on November 3, 1999, and was granted the certificate of incorporation by the RoC. Subsequently, the name of the company was changed to Avalon Technologies Limited pursuant to a special resolution passed by the shareholders of the Company on July 6, 2022, and a fresh certificate of incorporation dated July 29, 2022 was issued by the RoC consequent upon change of name upon conversion into a public limited company under the Companies Act, 2013. 

Avalon Technologies is one of the leading fully integrated Electronic Manufacturing Services (EMS) companies with end-to-end operations in delivering box build solutions in India in terms of revenue in Fiscal 2022, with a focus on high value precision engineered products. Through a unique global delivery model, it provides a full stack product and solution suite, right from printed circuit board (PCB) design and assembly to the manufacture of complete electronic systems (Box Build), to certain global original equipment manufacturers (OEMs), including OEMs located in the United States, China, Netherlands and Japan.

Its capabilities include PCB design and assembly, cable assembly and wire harnesses, sheet metal fabrication and machining, magnetics, injection molded plastics and end-to end box build of electronic systems. It specializes in manufacturing and providing design support for critical integrated assemblies, sub-assemblies, components and enclosures for multiple industry verticals. The end-use industries it caters to include a mix of established and long product lifecycle industries, such as industrial, mobility and medical devices and high growth ‘sunrise’ industries, such as solar, electric vehicles and hydrogen in the clean energy sector and digital infrastructure in the communications sector.

Business area of the company

The company is one of the leading fully integrated Electronic Manufacturing Services (EMS) companies with end-to-end operations in delivering box build solutions in India in terms of revenue in Fiscal 2022 , with a focus on high value precision engineered products.


Products and solution of the company

  • Design for manufacturing implementation
  • Engineering
  • New product introduction (NPI) services
  • Volume production
  • Life Cycle Management
  • System integration
  • PCB assembly technology
  • Cable & wire harness
  • Sheet metal
  • Aerospace metal
  • Machining service for complex systems
  • Magnetics
  • Plastic
  • Supply chain & logistics

Awards, accreditations or recognition

  • 2015: Environmental Leadership award at the India ABO Suppliers Conference, 2015.
  • 2017: Export Excellence award for second place in highest exports in electronic hardware sector from MEPZ.
  • 2017: ‘Prime Supplier’ award from one of its Customers.
  • 2018: Supplier award for ‘Strategic Partnership’ from Faiveley Transport Rail Technologies.
  • 2019: Awarded ANSI/ESD S20.20 certification by NQA, USA for manufacture of printed circuit board assemblies, PCBA prototypes and box builds to ATS.
  • 2019: ‘Best Supplier Award’ for demonstrated sustained performance by Collins Aerospace.
  • 2020: Awarded ISO 9001:2015 accreditation by TUV SUD South Asia Private Limited for manufacture, assembly and supply of cable and harness assemblies
  • 2021: Awarded AS 9100D and ISO 9001:2015 accreditation by TUV SUD. America Inc for manufacture, assembly and supply of fabricated sheet metal and machined components including powder coating, manufacture, assembly and supply of cable and harness assemblies and injected cable over molded parts for aviation, space and defense applications.
  • 2021: Awarded ISO 9001:2015 accreditation by TUV SUD South Asia Private Limited for manufacture of printed circuit board assemblies, PCBA prototypes and box build.
  • 2021: Awarded IATF 16949 accreditation by TUV SUD Management Service GmBH for manufacture of electronic products covering PCB assemblies, cable assemblies, wiring harnesses and electromechanical assemblies.
  • 2021: Platinum winner (shutdown type) at the 9th CII National Poka Yoke competition organised by the Confederation of Indian Industry.
  • 2021: Star champion award, Poka Yoke competition – Shutdown type, organised by the Confederation of Indian Industry.
  • 2021: Gold winner in the Innovative Category at the 4th CII National Kai – Zen competition organized by the Confederation of Indian Industry.
  • 2021: Awarded AS 9100D and ISO 9001:2015 certification by TUV SUD America Inc for manufacture and supply of powder coated components for aviation, space and defense applications to ATS.
  • 2021: Awarded AS 9100D and ISO 9001:2015 certification by TUV SUD America Inc for manufacture and supply of injected molded plastic parts and assemblies for aviation, space and defense applications to ATS.
  • 2021: Awarded AS 9100D and ISO 9001:2015 certification by TUV SUD America Inc for manufacture and supply of fabricated sheet metal and machined components for aviation, space and defense applications to ATS.
  • 2021: Awarded ISO 9001:2015 certification by TUV SUD South Asia Private Limited for manufacture, assembly & supply of transformers, magnetic winding assemblies and electro mechanical assemblies to ATS.
  • 2021: Awarded ISO 9001:2015 certification by TUV SUD South Asia Private Limited for manufacturing of wiring and electro-mechanical assemblies (including cabinets and sub racks) to ATS.
  • 2021: Awarded ISO 9001:2015 certification by TUV SUD South Asia Private Limited for manufacturing of printed circuit board assemblies, PCB prototypes, box builds, cable harness and electro mechanical assemblies to ATS.
  • 2022: The company was recognized at the Supplier Conference Partnership for Growth by Baker Huges.
  • 2022: The Excellence in Quality Award awarded for outstanding performance to the company at Crane Co. Indian Supplier Meet.
  • 2022: Awarded “Indo-U.S. Business Excellence Award” to the company, for exports to USA (MSME category) by the Indo American Chamber of Commerce.


History and milestones

  • 1999: Incorporation of the company.
  • 2000: Allotment of 301 square meter factory space by Development Commissioner, Madras Export Processing Zone (“MEPZ”) for setting up of a unit by the company.
  • 2001: Export of the first consignment by the company to Sienna.
  • 2001: Allotment of additional 301 square meter factory space by MEPZ for setting up of an additional unit by the company.
  • 2002: Allotment of additional 301 square meter factory space by MEPZ for manufacture and export by the company.
  • 2003: Commencement of production of metal parts, sub-assemblies and plastics and other material for exports at MEPZ-SEZ, Chennai by the company.
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