Slide 1: Exchange filing cover letter
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 Q4 & FY25
May 2025 Earnings Presentation Q4 & FY25 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 Only India EMS player to have full-fledged manufacturing facilities in the US Hybrid One stop shop for all EMS 14 Manufacturing units across US Manufacturing 575k+ sq.ft. Design & Located i
Slide 6: Business Highlights
Business Highlights Key events 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 Capital improved by 37 days from 161 days in RoCE Long–term Contracts Mar’24 to 124 days in Mar’25 Business Highlights India manufacturing representin
Slide 7: Financial Highlights – Q4 FY25
Financial Highlights – Q4 FY 25 (INR Cr.) Order Gross Margin EBITDA PAT Book Q4 FY 25 Q4 FY 25 Q4 FY 25 31st Mar 2025 Revenue 120 YOY% 41 YOY% 24 YOY% 1,761 YOY% 47.7% 139.6% 243.8% 29.0% 81 17 Q4 FY 25 7 Q4 FY 25 1,366 Q4 FY 25 Q4 FY 25 Q4 FY 24 Q4 FY 24 Q4 FY 24 31tst Mar 2024 343 YOY% 35.1% YOY%
Slide 8: Financial Highlights – FY25
Financial Highlights – FY 25 (INR Cr.) Order Gross Margin EBITDA PAT Book FY 25 FY 25 FY 25 31st Mar 2025 Revenue 393 YOY% 115 YOY% 63 YOY% 1,761 YOY% 24.7% 83.7% 126.7% 29.0% 315 FY 25 63 FY 25 28 FY 25 1,366 FY 25 31tst Mar 2024 FY 24 FY 24 10.5% 5.7% FY 24 1098 YOY% 35.8% YOY% YOY% YOY% 26.6% 55
Slide 9: 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 8
Slide 10: Income Statement
Income Statement (INR Cr.) Particulars Q4 FY25 Q4 FY24 YoY Change FY25 FY24 YoY Change Revenue from Operations 343 217 58.1% 1098 867 26.6% Cost of Goods Sold 223 135 64.3% 705 552 27.7% Gross Margin 120 81 47.7% 393 315 24.7% Gross Margin (%) 35.1% 37.6% -246 bps 35.8% 36.3% -55 bps Personnel Cost
Slide 11: 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 12: 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 13: 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 14: Global Customer Relationships – Revenue by Geography
Global Customer Relationships Revenue split based on Customer geography Q4 FY 2025 INDIA – 47% US – 53% FY 2025 INDIA – 43% US – 57% | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 13 10
Slide 15: Industry Outlook
Industry Outlook 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” strategy • Increa
Slide 16: Industry Outlook – Global EMS Market Opportunity
Industry Outlook 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 Share Chang
Slide 17: 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 wall
Slide 18: Balance Sheet
Balance Sheet (INR Cr.) Assets FY25 FY24 Equity and liabilities FY25 FY24 Property, plant and equipment 147 104 Shareholder's equity 612 547 Capital work in progress 10 20 Borrowings 18 53 Right-of-use / intangible assets 38 43 Lease liabilities 28 35 Other financial liabilities 2 0 Financial assets
Slide 19: Cashflow Statement
Cashflow Statement (INR Cr.) Particulars FY25 FY24 Operating profit before working capital changes 87 38 Changes in working capital -88 -41 Cash generated from operations 44 34 Direct taxes paid (net of refund) -19 -16 Net Cash from Operating Activities (A) 25 17 Net Cash from Investing Activities (
Slide 20: Avalon Group - Overview
Avalon Group - Overview
Slide 21: Avalon's varied product applications
Telecom, satellite Aircraft engine systems and digital parts infrastructure Avalon’s varied Medical devices product applications Products for defense across many end use application industries Clean energy with presence in solar, Signaling and braking hydrogen and systems for railways electric vehic
Slide 22: 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 Aer
Slide 23: 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 24: Why Avalon – Our Key Differentiators
Why Avalon Our Key Differentiators Vertical Integration Global Mfg. & Delivery Clean Energy PCB Design and Analysis New Product Development PCB 13% 87% US1 India1 Assembly Cable Assembly & Wire Harnesses Magnetics 1 Sheet Metal Fremont Fabrication & , CA Chennai, Machining India 10 1 Injection Molde
Slide 25: Our Positioning
Our Positioning Avalon is Uniquely Positioned & Well Placed to Capture Growth in the EMS Industry Service offering Industry presence Diversified Design, Telecom Testing Box Clean Aerospace Vertical Aftermarket product portfolio Year and Build Energy Auto Railways & Defense Industrials (Commun Medica
Slide 26: Clean Energy
Clean Energy Avalon’s Presence in Clean Energy, a Sunrise Sector for the EMS Industry which is Poised for Robust Growth India plans to install 450GW of renewable energy capacity by 2030 Solar Rising adoption of Electric Vehicles Electric vehicles Government schemes and incentives to promote clean e
Slide 27: 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 28: 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 29: 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
Slide 30: 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 29 21
Slide 31: 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 30 22
Slide 32: 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 Fremont, US 10 1 Numb
Slide 33: 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 32 47
Slide 34: 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 Kesavan P Michael Robinson Savita R Ganjigatti Chief Operatin
Slide 35: 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 36: Annexures
Annexures
Slide 37: Shareholding Pattern
Shareholding Pattern 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% DII Elec
Slide 38: 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 39: 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 40: 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 39
Slide 41: 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 40 10
Slide 42: Overview of Products and Capabilities – PCB Assembly
Overview of Products and Capabilities Printed Circuit Board Assembly PCB Gallery | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 41 11
Slide 43: Overview of Products and Capabilities – Cable Assembly
Overview of Products and Capabilities Cable Assembly and Wire Harnesses Cables & Wire Harnesses | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 42 12
Slide 44: Overview of Products and Capabilities – Sheet Metal Aerospace
Overview of Products and Capabilities Sheet Metal Fabrication and Machining Aerospace Sheet Metal Gallery | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 43 13
Slide 45: 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 44 14
Slide 46: Overview of Products and Capabilities – Magnetics
Overview of Products and Capabilities Magnetics Magnetics Gallery | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL 45 15
Slide 47: Glossary
Glossary
Slide 48: 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