Avalon Technologies Ltd revenue increased 6.6 per cent QoQ revenue and decreased 7.9% YoY. The company reported a gross margin of 37 per cent, EBITDA margin of 7.7 per cent, and PAT margin of 3 per cent. Despite losses in US operations impacting its consolidated results, the company said it secured wins in sectors such as power, industrial, clean energy, automotive, and rail.

The company is a manufacturing partner of C-DAC, and is working on India’s computing capabilities through the ‘RUDRA’ programme. Additionally, Avalon bagged contacts in the aerospace segment by delivering the first wiper blade assembly sample. A new manufacturing plant in Chennai is slated to go live by Q1 FY25, with plans for expanding existing facilities to meet growing domestic business demands.

The company uses a global delivery model that offers a 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 caters to industries such as clean energy, transportation, industrials, communication, and medical devices.

However, the shares were down by 1.28 per cent at Rs 518.45 at 11.22 am on the BSE.