Avalon Technologies Limited · NSE:AVALON
Avalon Technologies — Investor Presentation (June 2025)
55 slides from Avalon Technologies's investor presentation, June 2025
Slide 1: Avalon Technologies Ltd. Corporate Presentation
Avalon Technologies Ltd. Corporate Presentation www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL
Slide 2: Disclaimer (1/2)
Disclaimer (1/2) By attending the meeting where this presentation or accompanying slides (“Presentation”) is made, or by reading the Presentation materials, (A) you acknowledge and agree to be bound by the limitations and restrictions contained herein, (B) agree to maintain absolute confidentiality
Slide 3: Disclaimer (2/2)
Disclaimer (2/2) are under an obligation to update, revise or affirm. You acknowledge and agree that the Company and/or its affiliated companies and/or their respective employees and/or agents have no responsibility or liability (express or implied) whatsoever and howsoever arising (including, witho
Slide 4: Avalon Group - Overview
Avalon Group - Overview
Slide 5: Avalon touches your life in more ways than you know
Telecom, satellite Aircraft engine systems and digital parts infrastructure Avalon touches your Products for Medical devices life in more ways than defense application you know Clean energy with presence in solar, Signaling and braking hydrogen and systems for railways electric vehicles industries |
Slide 6: 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 in the US with industry leading Box Build contribution percentage One stop shop for all EMS 15 Manufacturing units across US Hybrid Manufacturing 575k+ sq.ft. Design &
Slide 7: 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 Strategic entry Enhanced Fully production of facility in MEPZ- manufacturing capabilities Aer
Slide 8: Why Avalon
Why Avalon Our Key Differentiators Vertical Integration Global Mfg. & Delivery* Strategic Diversification PCB Design and Analysis New Product Development PCB 13% 87% Diversified 01 US India Customer base Assembly Multiple Cable Assembly 02 Industries & Wire Served Harnesses Magnetics Global Manufact
Slide 9: 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 49% of revenues in FY25 1 3 5 7 9 PC
Slide 10: Box Build Examples
Box Build Examples Examples of Box Build Solutions Control Panel for Electrical Hydrogen electrolyzer - Power Distribution systems Energy Storage System Distribution Pg no 1 Control panel for Stone Hydrogen Electrolyzer Crusher - Heavy Industrial Metro Signaling Assembly Satellite Communication Box
Slide 11: PCB
PCB Examples of Box Build Solutions PCB – Defense Control Card PCB - Railway Signaling PCB – 5G Card Pg no 2 PCB – 5G Card Small Cell PCB – Defense Control Card PCB – Defense RF Card
Slide 12: Cables and Plastics
Cables and Plastics Automotive/ Catalytic Industrial Application Automotive Fire Truck Converter Pg no 3 Hand Held Device for Fleet Enclosure for Smoke Detector, Hand Held Device for Fleet PT Switch Management Aircraft Interior Management
Slide 13: Metals and Magnetics
Metals and Magnetics Manifold for Braking System, Centrifugal Stand for Blood POS devise Holder, Railways Analyser, Medical Commercials Pg no 4 Common mode and differential Inverter transformer High frequency inductor Multi tapped transformer mode choke
Slide 14: Metals
Metals Pg no 4 Energy Storage Cubicles for Railway Electric Vehicle Battery Cassette Tankless Water Heater Enclosure Interface
Slide 15: Key Highlights
Key Highlights
Slide 16: Business Highlights – FY25
Business Highlights – FY25 Key events Entered semiconductor equipment manufacturing space partnering with global major for producing industry 4.0 compliant complex Box-Builds 49% INR 1,761 Cr # Box-build Revenue Order book Order book has increased by 29.0% YoY 15.7% INR 1,123 Cr * Net Working Capita
Slide 17: Financial Highlights - Q4 FY25
Financial Highlights - Q4 FY25 (INR Cr.) Gross Revenue Margin Q4 FY 25 343 Q4 FY 25 120 22.1% 14.7% Q3 FY 25 281 58.1% Q3 FY 25 105 47.7% Q4 FY 24 217 Q4 FY 24 81 EBITDA PAT Q4 FY 25 41 Q4 FY 25 24 19.4% 1.2% Q3 FY 25 35 139.6% Q3 FY 25 24 243.8% Q4 FY 24 17 Q4 FY 24 7 | www.avalontec.com STRICTLY P
Slide 18: Financial Metrics - I
Financial Metrics - I (INR Cr.) 27.2% 24.6% 10.4 10.0% 15.7% # 9.4 Asset Turn 8.3 RoCE (%) 7.5 FY 22 FY 23 * FY 24* FY 25 FY 22 FY 23 FY 24 FY 25 306 294 164 Gross Debt Net Debt to 142 2.9 EBITDA 2.7 -0.3 0.1 Mar’22 Mar’23 Mar’24 Mar’25 FY 22 FY 23* FY 24* FY 25 # RoCE is based on trailing 12 Months
Slide 19: Financial Metrics - II
Financial Metrics - II 118 Trade Receivables 86 84 92 Inventory days 84 79 73 69 days Mar’22 Mar’23 Mar’24 Mar’25 Mar’22 Mar’23 Mar’24 Mar’25 161 126 124 46 Trade Payables 116 Capital Days Net Working 41 36 36 days Mar’22 Mar’23 Mar’24 Mar’25 Mar’22 Mar’23 Mar’24 Mar’25 NWC days are calculated on re
Slide 20: Our Growth Strategy
Our Growth Strategy Optimal Blend of Combination 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 43% 57% markets – India & US India USA Collaborate, Grow wal
Slide 21: Growth Opportunities (1/2)
Growth Opportunities (1/2) Key Drivers Emerging sectors Rising share of EMS to drive growth manufacturing • Solar • EMS Industry CAGR1: 32.3% • Hydrogen • Industry In-house CAGR1: 21.4% • Electric Vehicles Industry Tailwinds Mfg. moving to Growing Indian US and India EMS market • “China+1” strateg
Slide 22: Growth Opportunities (2/2)
Growth Opportunities (2/2) Sizeable and Growing Global EMS Market Opportunity EMS market is poised for a robust growth across industries. India showcases unique competitive strengths India is leading the EMS growth story North America is the 2nd largest EMS market Global EMS Market India’s Market S
Slide 23: High Mix Products
High Mix Products 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 Products C
Slide 24: High Mix Products Examples
High Mix Products 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 ▪ Conducted
Slide 25: 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 26: Global Customer Relationships: Revenue by Geography
Global Customer Relationships Revenue split based on Customer geography FY 2025 INDIA – 43% US – 57% FY 2024 INDIA – 45% US – 55% | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 25 10
Slide 27: Awards & Recognition
Awards & Recognition Numerous Awards Stand Testimony of Performance Collins Faiveley Aerospace Transport Best Supplier Supplier Award for Excellence demonstrated Award for sustained Strategic performance Partnership Environmental Best Indian Prime Leadership Supplier Supplier Award1 CE+T TMEIC Cumm
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 Notes: Maps no t to scale. | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL
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 Chennai, India Chennai, India Chennai, India Bengaluru, India Atlanta, US Bengaluru, India | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 29 47
Slide 31: 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 32: Experienced Board of Directors
Experienced Board of Directors Promoter-led Management Team and Highly Experienced Board Kunhamed Bicha Venkataramani Bhaskar Srinivasan Luquman Veedu Chairman & Managing Ediyanam Ananthramakrishnan Non-executive Director Director Independent Director Non-executive Director ▪ Promoter of Avalon Tech
Slide 33: Summary Financials
Summary Financials
Slide 34: Strong Financial Performance with Visible Growth Profile
Strong Financial Performance with Visible Growth Profile Track Record of Sustained Growth in Revenue with Improving Margin Profile and Strong Balance Sheet Strong & Visible Order Book (INR Cr) EBITDA (INR Cr) & EBITDA Margins Net Working Capital Days1 EBITDA Margin (%) NWC Days India US 7.2% 10.5% I
Slide 35: Consolidated Profit and Loss
Consolidated Profit and Loss (INR Cr.) Particulars FY22 FY23 FY24 FY25 Revenues from operations 841 945 867 1,098 Other income 11 15 15 17 Total income 852 959 882 1,115 Cost of raw materials consumed 561 614 552 719 Changes in inventories of finished goods, work-in-progress -7 -17 0 -13 Employee be
Slide 36: Consolidated Balance Sheet
Consolidated Balance Sheet (INR Cr.) Assets FY22 FY23 FY24 FY25 Equity and liabilities FY22 FY23 FY24 FY25 Tangible Assets 91 106 124 158 Shareholder's equity 89 537 547 612 Right-of-use / intangible assets 25 37 43 38 Borrowings 74 66 53 18 Financial assets 5 5 22 7 Lease and Other non-current liab
Slide 37: Shareholding Pattern
Shareholding Pattern (INR Cr.) Share Information (As on March 31 2025) 7% FPI NSE Ticker AVALON Share Information BSE Ticker (As on June 30, 2023) 543896 51% NSE Market Cap (INR Cr) 5,012 Promoter group 25% % free-float 100% Public Free-float market cap (INR Cr) 5,012 Shares Outstanding 6,61,57,116 17
Slide 38: Overview of Products and Services
Overview of Products and Services
Slide 39: Overview of Products and Capabilities: Design Services
Overview of Products and Capabilities Design Services • Track record of designing PCBAs for critical end-use applications – high end supercomputing, 5G, medical etc. • Key customers include TransDigm Technologies India Pvt. Ltd., Atonarp Micro Systems India Pvt. Ltd., Innominds Software Pvt. Ltd. an
Slide 40: Overview of Products and Capabilities: New Product Development
Overview of Products and Capabilities New Product Development • Equipped with advanced PCB assembly / test facilities Products and Capabilities Overview New Product Development Capabilities One of the leading fully integrated EMS companies with end-to-end capabilities in delivering box build solutio
Slide 41: Overview of Products and Capabilities: PCB Assembly
Overview of Products and Capabilities Printed Circuit Board Assembly • End-to-end service provider of PCBAs, with in-house capabilities to support the entire value chain of customers • Key customers include Kyosan India Pvt. Ltd., Zonar Systems Inc., Caire Inc, e-Infochips Pvt. Ltd. and TMEIC, Japan
Slide 42: Overview of Products and Capabilities: PCB Gallery
Overview of Products and Capabilities Printed Circuit Board Assembly PCB Gallery | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 41 35
Slide 43: Overview of Products and Capabilities: Sheet Metal Fabrication
Overview of Products and Capabilities Sheet Metal Fabrication and Machining • Serves customers in various industries – industrial, aerospace, railways, power & communication • Key customers include Collins Aerospace, US Malabar Company and Faiveley Transport Products and Capabilities Overview Sheet
Slide 44: Aerospace Sheet Metal Gallery
Overview of Products and Capabilities Sheet Metal Fabrication and Machining Aerospace Sheet Metal Gallery | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 43 37
Slide 45: Sheet Metal & Machining Gallery
Overview of Products and Capabilities Sheet Metal Fabrication and Machining Sheet Metal & Machining Gallery | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 44 38
Slide 46: Overview of Products and Capabilities: Injection Molded Plastics
Overview of Products and Capabilities Injection Molded Plastics • Serves customers in various industries – aerospace, industrial & power • Key customers include Collins Aerospace Products and Capabilities Overview Plastics Facility Plastics Gallery One of the leading fully integrated EMS companies w
Slide 47: Plastics Gallery
Overview of Products and Capabilities Injection Molded Plastics Plastics Gallery | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 46 40
Slide 48: Overview of Products and Capabilities: Cable Assembly and Wire Harnesses
Overview of Products and Capabilities Cable Assembly and Wire Harnesses • Serves customers in various industries – solar, medical, power, industrial and automotive Cables & Wire Harnesses Facility Cables & Wire Harnesses Gallery Products and Capabilities Overview One of the leading fully integrated
Slide 49: Cables & Wire Harnesses Gallery
Overview of Products and Capabilities Cable Assembly and Wire Harnesses Cables & Wire Harnesses | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 48 42
Slide 50: Overview of Products and Capabilities: Magnetics
Overview of Products and Capabilities Magnetics • Derives majority of revenues in this division from subsidiaries, Avalon and Sienna Magnetics Facility Magnetics Gallery Products and Capabilities Overview One of the leading fully integrated EMS companies with end-to-end capabilities in delivering bo
Slide 51: Magnetics Gallery
Overview of Products and Capabilities Magnetics Magnetics Gallery | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 50 44
Slide 52: Overview of Products and Capabilities: End-to-End Box Build
Overview of Products and Capabilities End-to-End Box Build • Key customers include Faiveley Transport, e-Infochips, Kyosan India, Zonar systems Box Build Facility Box Build Gallery Products and Capabilities Overview One of the leading fully integrated EMS companies with end-to-end capabilities in de
Slide 53: System Integration Gallery
Overview of Products and Capabilities End-to-End Box Build System Integration Gallery | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 52 46
Slide 54: Glossary
Glossary
Slide 55: Glossary
Glossary Term Description Term Description Avalon Avalon Technologies Ltd. IND AS7 Indian Accounting Standard 7 ATS Avalon Technologies and Services IoT Internet of Things B.Com Bachelors in Commerce M.Com Masters in Commerce B.Tech Bachelors in Technology MA Masters in Arts B2B Business to Business
Avalon Technologies — Investor Presentation (June 2025) on 6ix