Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Avalon Technologies Ltd, a company involved in electronic manufacturing services (EMS), recently released its financial results for the quarter. The company experienced a positive 7% increase in revenue compared to the previous quarter but faced an 8% decline in revenue compared to the same period last year. Despite challenges, Avalon reported a gross margin of 37%, an EBITDA margin of 8%, and a PAT (Profit After Tax) margin of 3%.
The company acknowledged setbacks in its US operations, which impacted its overall financial performance. However, Avalon highlighted successful ventures in various sectors, including power, industrial, clean energy, automotive, and rail. These wins demonstrate the company's ability to secure projects and partnerships in diverse industries.
Avalon is a manufacturing partner of C-DAC and actively contributes to India's computing capabilities through the 'RUDRA' program. Additionally, the company achieved success in the aerospace segment by delivering the first wiper blade assembly sample. This indicates Avalon's expansion into critical industries and showcases its capability to provide specialised solutions.
Looking ahead, Avalon has plans for growth and expansion. A new manufacturing plant in Chennai is scheduled to become operational by the first quarter of FY25. The company also intends to enhance its existing facilities to meet the rising demands of the domestic business.
With a global delivery model, Avalon offers a comprehensive product and solution suite, covering printed circuit board design, assembly, and end-to-end box build of electronic systems. As an Indian EMS player with manufacturing facilities in the US, Avalon serves various industries, including clean energy, transportation, industrials, communication, and medical devices.
Despite these positive developments, the company's stock experienced a 1% decrease, trading at ₹518 at 11:22 am on the BSE. Investors may be reacting to the challenges Avalon faces in its US operations or other market factors. Stakeholders need to monitor the company's performance and future developments to make informed investment decisions.
Avalon Technologies Ltd demonstrated mixed financial results, facing both quarterly and yearly revenue fluctuations. Despite challenges in the US operations, the company secured victories in multiple sectors, showcasing its diverse capabilities. Future growth plans and expansion initiatives indicate Avalon's commitment to meeting the demands of the ever-evolving electronic manufacturing landscape.
Also Read : ArcelorMittal Exits Bosnia with Sale of Steel Plant and Mine to Pavgord Group Tata Power reaches 100 Mn green kms with EV charging network
It highlighted the significant impact of green technologies on India's steel industry, says Ashwini...
Ferrous 07-Aug-2024
Tata Steel Limited of India has established a 'carbon bank', a virtual repository via which carbon d...
Large Corporate 12-Jul-2024
Vedanta Group, a mining conglomerate, expects $6 billion in pre-tax profits in the coming fiscal yea...
Large Corporate 29-Feb-2024
The Gujarat government has calculated a demand projection to reach almost 36000 MW by FY 2031-32, a...
Renewables 27-Jun-2024
The Thai steel industry is increasingly concerned about heightened competition from foreign companie...
Business 14-Aug-2024
Indian rebar prices drop ₹300-700/tonne amid demand slump. Geopolitical tensions, weak construction...
Business 07-May-2025