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Avalon Technologies Co-founder Bhaskar Srinivasan Resigns from Board
Avalon Technologies Limited has announced the resignation of Mr. Bhaskar Srinivasan from his role as a Non-Executive (Non-Independent) Director, effective February 10, 2026. As a co-founder who has been with the company since its inception, Mr. Srinivasan is stepping down to focus on personal priorities and other professional interests. He has explicitly confirmed that there are no material reasons for his resignation other than those stated. The company has formally accepted the resignation and expressed appreciation for his long-term contribution to the firm's growth.
Key Highlights
Mr. Bhaskar Srinivasan (DIN: 02561215) resigned as Non-Executive Director effective February 10, 2026.
The outgoing director is a co-founder of Avalon Technologies and has been associated with it since inception.
Reasons cited for resignation include personal priorities and the pursuit of other professional opportunities.
The director confirmed there are no other material reasons for his departure.
The company has placed on record its appreciation for his services rendered over the years.
💼 Action for Investors
This is a neutral management update; investors should monitor if this leads to any significant changes in the co-founder's shareholding pattern in the coming quarters.
Avalon Technologies Q3 FY26 Revenue Jumps 48.7% YoY to ₹418 Cr; Order Book Hits ₹2,016 Cr
Avalon Technologies reported a robust Q3 FY26 performance with revenue growing 48.7% YoY to ₹418 Cr and PAT increasing 35.9% YoY to ₹33 Cr. The company achieved its sixth consecutive quarter of sequential improvement, with EBITDA margins expanding 139 bps QoQ to 11.5%. A significant highlight is the order book reaching ₹2,016 Cr, providing strong revenue visibility for approximately 14 months. Operational efficiency also improved, with Net Working Capital days reducing from 131 to 118 days during the quarter.
Key Highlights
Revenue grew 48.7% YoY to ₹418 Cr, while PAT increased 35.9% YoY to ₹33 Cr in Q3 FY26.
Order book stands at ₹2,016 Cr as of Dec 31, 2025, reflecting a 26.5% YoY growth.
EBITDA margins improved sequentially by 139 bps to 11.5% compared to Q2 FY26.
Net Working Capital cycle improved by 13 days, dropping from 131 days in Sep'25 to 118 days in Dec'25.
Box-build services, a high-value segment, now contribute 53% of total revenue.
💼 Action for Investors
Investors should take note of the consistent sequential recovery and the significant reduction in working capital days, which indicates better cash flow management. The strong order book and high contribution from box-build services position the company well for sustained growth in the EMS sector.
Avalon Tech Q3 FY26 PAT Jumps 36% YoY to ₹32.6 Cr; Revenue Grows 49%
Avalon Technologies reported a strong Q3 FY26 with revenue growing 48.7% YoY to ₹417.5 crore, marking its sixth consecutive quarter of sequential growth. Net profit increased by 35.9% YoY to ₹32.6 crore, supported by robust performance in India manufacturing which saw EBITDA margins of 16.7%. While YoY margins saw a slight compression, sequential (QoQ) EBITDA margins improved significantly from 10.1% to 11.5%. The company also demonstrated operational efficiency with Net Working Capital days reducing from 131 to 118.
Key Highlights
Revenue from operations grew 48.7% YoY to ₹417.5 Cr and 9.2% QoQ.
PAT increased 35.9% YoY to ₹32.6 Cr with a PAT margin of 7.7%.
EBITDA grew 38.5% YoY to ₹48.0 Cr; sequential EBITDA margin improved by 139 bps to 11.5%.
Net Working Capital days improved significantly to 118 days from 131 days in the previous quarter.
9M FY26 PAT surged 83.3% YoY to ₹71.8 Cr, reflecting strong full-year momentum.
💼 Action for Investors
Investors should note the consistent sequential improvement and the significant reduction in working capital days as signs of operational maturity. The company's focus on high-margin verticals like Clean Energy and Aerospace makes it a strong contender in the EMS space.
Avalon Tech Q3 Results: Consolidated PAT Jumps 36% YoY to ₹326 Mn; Revenue Up 49%
Avalon Technologies reported a strong financial performance for Q3 FY26, with consolidated revenue from operations growing 48.7% YoY to ₹4,175.42 million. Net profit for the quarter rose by 35.9% YoY to ₹326.02 million, driven by robust demand in the Electronics Manufacturing Services (EMS) segment. On a sequential basis, revenue grew by 9.2% while PAT saw a significant jump of 30.5% compared to Q2 FY26. For the nine-month period ended December 2025, the company's profit nearly doubled to ₹717.95 million from ₹391.62 million in the previous year.
Key Highlights
Consolidated revenue grew 48.7% YoY to ₹4,175.42 million in Q3 FY26.
Consolidated PAT increased 35.9% YoY to ₹326.02 million from ₹239.89 million.
9M FY26 PAT surged by 83.3% to ₹717.95 million compared to ₹391.62 million in 9M FY25.
Basic EPS improved to ₹4.89 in Q3 FY26 from ₹3.63 in the corresponding quarter last year.
Finance costs decreased significantly to ₹29.59 million from ₹45.15 million YoY, aiding margin expansion.
💼 Action for Investors
The strong top-line and bottom-line growth indicates healthy momentum in the EMS sector and efficient cost management. Investors should maintain a positive outlook while monitoring order book execution and margin sustainability.
Avalon Technologies Credit Outlook Upgraded to Positive by India Ratings
India Ratings and Research (Ind-Ra) has revised the outlook on Avalon Technologies Limited's bank loan facilities to Positive from Stable. The agency affirmed the company's long-term rating at 'IND A-' and short-term rating at 'IND A1'. This rating action covers bank loan facilities totaling INR 1,415 million. The shift to a positive outlook indicates an improving credit profile and the potential for a rating upgrade in the near future.
Key Highlights
Outlook revised to Positive from Stable by India Ratings and Research (Ind-Ra).
Long-term rating affirmed at 'IND A-' and short-term rating at 'IND A1'.
The rating applies to bank loan facilities with a total issue size of INR 1,415 million.
The revision reflects strengthening financial stability and creditworthiness of the company.
💼 Action for Investors
Investors should view this as a positive signal regarding the company's debt management and financial health. A higher credit rating could lead to lower borrowing costs, potentially improving net margins over time.