Slide 1: Exchange filing cover letter for investor presentation
To To BSE Limited The Manager Corporate Relationship Department Listing Department PJ towers, The National Stock Exchange of India Limited Dalal Street, “Exchange Plaza”, Bandra – Kurla Complex, Mumbai -400001 Bandra (EAST), Mumbai – 400051 BSE SCRIP CODE: 543896 NSE Symbol: AVALON Sir(s)/Madam, Sub
Slide 2: Earnings Presentation Q1 FY27
August 2026 Earnings Presentation Q1 FY27 www.avalontec.com
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Avalon Technologies Limited(the “Company”), solely for information purposes without any regard to any specific objectives, financial situations or informational needs of any particular person a
Slide 4: Table of Contents
Table of Contents Business Highlights Financial Highlights Strategy Company Overview Annexures | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 3
Slide 5: Avalon – At a Glance
AVALON – AT A GLANCE One of the India’s Leading Fully Integrated EMS Company with a Global Delivery Footprint Long-standing presence across diverse segments with industry leading Box Build contribution percentage Hybrid One stop shop for all EMS 16 Manufacturing units across US Manufacturing 615k+ s
Slide 6: Business Highlights
Business Highlights Key events Q1 FY27 delivers our eighth consecutive quarter of sequential improvement in performance 60% INR 2,208 Cr # Box-build Revenue Order book India manufacturing delivered 16.7% EBITDA & 11.1% PAT in Q1 FY27 23.4% INR 1,256 Cr * Net Working Capital days improved from 142 da
Slide 7: Financial Highlights – Q1 FY27
Financial Highlights – Q1 FY 27 (INR Cr.) Order Gross Margin EBITDA PAT Book Q1 FY 27 Q1 FY 27 Q1 FY 27 30th June 2026 Revenue 168 YOY% 58 YOY% 35 YOY% 2,208 YOY% 46.3% 93.9% 145.3% 23.4% 115 30 Q1 FY 27 14 Q1 FY 27 1,790 Q1 FY 27 Q1 FY 27 Q1 FY 26 Q1 FY 26 Q1 FY 26 30th June 2025 484 YOY% 34.7% YOY
Slide 8: Financial Highlights – Q1 FY27
Financial Highlights – Q1 FY 27 (INR Cr.) Gross Revenue Margin Q1 FY 27 484 Q1 FY 27 168 0.9% 3.9% Q4 FY 26 480 49.8% Q4 FY 26 162 46.3% Q1 FY 26 323 Q1 FY 26 115 EBITDA PAT Q1 FY 27 58 Q1 FY 27 35 1.9% 15.3% Q4 Q4 FY FY26 26 57 93.9% Q4 FY 26 41 145.3% Q1 FY 26 30 Q1 FY 26 14 | www.avalontec.com 7
Slide 9: Income Statement
Income Statement (INR Cr.) Particulars Q1 FY27 Q1 FY26 YoY Change Q1 FY27 Q4 FY26 QoQ Change Revenue from Operations 484 323 49.8% 484 480 0.9% Cost of Goods Sold 316 208 51.8% 316 318 -0.6% Gross Margin 168 115 46.3% 168 162 3.9% Gross Margin (%) 34.7% 35.5% -85 bps 34.7% 33.7% 99 bps Personnel Cos
Slide 10: Financial Metrics - I
Financial Metrics - I (INR Cr.) 20.6% 23.4% 15.7% 9.9 9.9 10.0% 8.3 Asset Turn 7.5 RoCE (%) FY 24 * FY 25 FY 26 Q1 FY 27 FY 24 FY 25 FY 26 Q1 FY 27 196 183 Gross Debt 164 Net Debt to 142 EBITDA 0.2 0.1 0.1 -0.3 Mar’24 Mar’25 Mar’26 Jun’26 FY 24* FY 25 FY 26 Q1 FY 27 * Calculated excluding IPO cash p
Slide 11: Financial Metrics - II
Financial Metrics - II 118 94 Trade Receivables 86 84 Inventory days 84 79 74 72 days Mar’24 Mar’25 Mar’26 Jun’26 Mar’26 Jun’26 Mar’24 Mar’25 161 124 Trade Payables 112 117 Capital Days Net Working 51 46 45 36 days Mar’24 Mar’25 Mar’26 Jun’26 Mar’24 Mar’25 Mar’26 Jun’26 NWC days are calculated on re
Slide 12: Global Customer Relationships
Global Customer Relationships Presence across Multiple Industries with a Diversified Customer Base Clean Energy Mobility / Transportation Industrials Communication Medical & Others Automotive Aerospace Power & Telecom & Digital Medical Defence & Solar Electric Hydrogen Railways Automation Satellite
Slide 13: Global Customer Relationships: Revenue by geography
Global Customer Relationships Revenue split based on Customer geography Q1 FY 2027 INDIA – 41% US – 59% FY 2026 INDIA – 38% US – 62% | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 12 10
Slide 14: Industry Outlook
Industry Outlook Key Drivers Increased Rising share of EMS Electronification manufacturing • Adoption of Industry 4.0, IoT, • EMS Industry CAGR1: 27% Robotics & AI Industry Tailwinds Supply chain Growing Indian diversification EMS market • Manufacturing moving to India & US • Larger domestic demand,
Slide 15: Sizeable and Growing Global EMS Market Opportunity
Industry Outlook Sizeable and Growing Global EMS Market Opportunity ESDM market is poised for a robust growth across industries. India ESDM Market India ESDM as a % of global ESDM Global ESDM Market (US$bn) 27% CAGR 10% ~ 1,000 1,400 billion billion 4% 2024 2030E 2024 2030E 2025 2030E US $44bn US $1
Slide 16: Our Growth Strategy
Our Growth Strategy Optimal Blend of Com bination of Balance of Geography Today’s & Tomorrow’s Technology Profitability & Growth Customer Presence • Cater to world’s fastest growing EMS • Established businesses – • Focus on profitable growth 41% 59% markets – India & US Collaborate, Grow wallet share
Slide 17: Balance Sheet
Balance Sheet (INR Cr.) Assets FY26 FY25 Equity and liabilities FY26 FY25 Property, plant and equipment 162 147 Shareholder's equity 722 612 Capital work in progress 24 10 Borrowings 11 18 Lease liabilities 17 28 Right-of-use / intangible assets 30 38 Other financial liabilities 2 2 Financial assets
Slide 18: Cashflow Statement
Cashflow Statement (INR Cr.) Particulars FY26 FY25 Operating profit before working capital changes 154 87 Changes in working capital -105 -88 Cash generated from operations 91 44 Direct taxes paid (net of refund) -34 -19 Net Cash from Operating Activities (A) 57 25 Net Cash from Investing Activities
Slide 19: Avalon Group - Overview
Avalon Group - Overview
Slide 20: Avalon's varied product applications across many end use industries
Telecom, satellite Aircraft cabin & engine systems and digital parts infrastructure Avalon’s varied Industrial Equipment product applications Products for semiconductor across many end use equipments industries Clean energy with presence in solar, Signaling, Braking and hydrogen and Kavach systems f
Slide 21: Our Journey So Far
Our Journey So Far Diversified Business and Strong Growth Avenues Phase 1 Phase 2 Phase 3 1999 2003 2005 2007 2009 2010 2011 2016 Today Commenced Inauguration of new Expansion of Acquired design Entry into Enhanced Fully Strategic entry production of facility in MEPZ- manufacturing capabilities Aero
Slide 22: Today: End-to-end Product Offering
Today End-to-end Product Offering with Vertically Integrated Solutions – “One Stop Shop” Build PCB Sheet System Machining assembly metal integration Rapid prototyping 2 4 6 8 Box build Strong focus on Design & new product providing box build development solutions 60% of revenues in Q1 FY27 1 3 5 7 9
Slide 23: Why Avalon: Our Key Differentiators
Why Avalon Our Key Differentiators Vertical Integration Global Mfg. & Delivery Strategic Diversification PCB Design and Analysis New Product Development PCB 28% 72% Diversified 01 US1 India1 Customer base Assembly Multiple Cable Assembly 02 Industries & Wire Served Harnesses Magnetics Global Manufac
Slide 24: Our Positioning
Our Positioning Avalon is Uniquely Positioned & Well Placed to Capture Growth in the EMS Industry Service offering Industry presence Diversified Design, Telecom product portfolio Year Testing and Box Build Clean Energy Auto Railways Aerospace & Defense Industrials (Commun Medical -ication) CEA Verti
Slide 25: High Mix Products (1/2)
High Mix Products (1/2) Leaders in High Mix Flexible Volume Products across Multiple Industries High precision product offering across industries with long product development cycle & significant growth potential Long Product Lifecycle Leaders in High Mix / Flexible Mobility High Margins Volume Prod
Slide 26: High Mix Products (2/2)
High Mix Products (2/2) Examples of Presence in High Mix & Long Product Development Cycle Products Combustion liner Piston assembly for Anti-collision signaling system Aerospace fueling system Railways Industrials Assembled with 32 sheet metal child parts Intricate injection insert molding Con
Slide 27: Awards & Recognition
Awards & Recognition Numerous Awards Stand Testimony of Performance Collins Faiveley Indo – American Aerospace Transport Chamber of Commerce Best Supplier Supplier Award for Excellence Best export demonstrated Award for performance to sustained Strategic the US performance Partnership Runner-up of E
Slide 28: Client Delivery Model (1/2)
Client Delivery Model (1/2) Flexibility in manufacturing and leveraging Hybrid Model Make in India Hybrid Make in US for India and Export for US Build Local Expand Global • Labour Intensive • Automation • Configuration | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 27 21
Slide 29: Client Delivery Model (2/2)
Client Delivery Model (2/2) Strong Focus on Up-selling and Cross-selling New Product Development PCB Analysis & Design Plastics Design for Manufacturing PCB Assembly Box Build Cables Assembly Prototyping Metals Magnetics | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 28 22
Slide 30: Global Manufacturing Footprint
Global Manufacturing Footprint Serve Customers Locally and Leverage Hybrid Model of Delivery Accredited with Global Quality Standards and Certifications Global manufacturing presence with state-of-the-art manufacturing facilities Atlanta, US Bengaluru, India 1 2 Chennai, India Chennai, India 13 Numb
Slide 31: Avalon's Manufacturing Facilities
Avalon’s Manufacturing Facilities Chennai, India Chennai, India Chennai, India Bengaluru, India Atlanta, US Bengaluru, India | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 30 47
Slide 32: Key Management Personnel
Key Management Personnel Strong Management Team with Proven Track Record of Performance and Sound Cross-functional Expertise Decades of experience in the EMS industry Instrumental in Avalon’s growth Shriram Vijayaraghavan Suresh Veerappan Venky Venkatesh Kesavan P Chief Operating Officer Chief Finan
Slide 33: Experienced Board of Directors
Experienced Board of Directors Promoter-led Management Team and Highly Experienced Board Kunhamed Bicha Venkataramani Byas Unnikrishnan Luquman Veedu Chairman & Managing Ananthramakrishnan Nambisan Ediyanam Director Independent Director Independent Director Director Promoter of Avalon Technologies
Slide 34: Annexures
Annexures
Slide 35: Shareholding Pattern
Shareholding Pattern Share Information (As on June 30 2026) 8% FPI NSE Ticker AVALON BSE Ticker 543896 44% NSE Market Cap (INR Cr) 12,039 Promoter group 23% % free-float 100% Public Free-float market cap (INR Cr) 12,039 Shares Outstanding 6,68,11,755 25% DII Electronic Manufacturing Industry Services
Slide 36: Consolidated Profit and Loss
Consolidated Profit and Loss (INR Cr.) Particulars FY23 FY24 FY25 FY26 Revenues from operations 945 867 1,098 1,603 Other income 15 15 17 29 Total income 959 882 1,115 1,632 Cost of raw materials consumed 614 552 719 1,106 Changes in inventories of finished goods, work-in-progress -17 0 -13 -53 Empl
Slide 37: Consolidated Balance Sheet
Consolidated Balance Sheet (INR Cr.) Assets FY23 FY24 FY25 FY26 Equity and liabilities FY23 FY24 FY25 FY26 Tangible Assets 106 124 158 186 Shareholder's equity 537 547 612 722 Right-of-use / intangible assets 37 43 38 30 11 Borrowings 66 53 18 Financial assets 5 22 7 15 Lease and Other non-current l
Slide 38: Overview of Products and Capabilities: Injection Molded Plastics
Overview of Products and Capabilities Injection Molded Plastics Plastics Gallery We serve our customers from the injection molding plastic business in various industries including aerospace, industrial and power | www.avalontec.com 37
Slide 39: Overview of Products and Capabilities: End-to-End Box Build
Overview of Products and Capabilities End-to-End Box Build System Integration Gallery | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 38 10
Slide 40: Overview of Products and Capabilities: Printed Circuit Board Assembly
Overview of Products and Capabilities Printed Circuit Board Assembly PCB Gallery | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 39 11
Slide 41: Overview of Products and Capabilities: Cable Assembly and Wire Harnesses
Overview of Products and Capabilities Cable Assembly and Wire Harnesses Cables & Wire Harnesses | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 40 12
Slide 42: Overview of Products and Capabilities: Sheet Metal Fabrication
Overview of Products and Capabilities Sheet Metal Fabrication and Machining Aerospace Sheet Metal Gallery | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 41 13
Slide 43: Overview of Products and Capabilities: Sheet Metal & Machining
Overview of Products and Capabilities Sheet Metal Fabrication and Machining Sheet Metal & Machining Gallery | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 42 14
Slide 44: Overview of Products and Capabilities: Magnetics
Overview of Products and Capabilities Magnetics Magnetics Gallery | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 43 15
Slide 45: Glossary
Glossary
Slide 46: Glossary
Glossary Term Description Term Description Avalon Avalon Technologies Ltd. IoT Internet of Things ATS Avalon Technologies and Services M.Com Masters in Commerce B.Com Bachelors in Commerce MA Masters in Arts B.Tech Bachelors in Technology MBA Masters in Business Administration B2B Business to Busine