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27 Years
4.4 Star
1 Crore +
Heavy Electrical Equipment company Avalon Technologies announced the H1FY24 results of
- Revenue from Operations of Rs 436.1 crore, a slight -1.0% YoY change.
- Total Income of Rs 445.9 crore, showing a -1.8% YoY change.
- EBITDA of Rs 28.8 crore, a significant -40.1% YoY decrease.
- EBITDA Margin at 6.6%, with a notable -431 bps YoY decrease.
- PAT of Rs 14.3 crore, down by -40.4% YoY.
- PAT Margin at 3.2%, with a significant -208 bps YoY decrease.
- Indian market revenue increased by 16% in H1FY24, but challenging US economic conditions led to a 14% decline in US market revenue, resulting in a 1% overall revenue decrease
- US market revenue constitutes 53% of the total Revenue
- Overall Order Book increased by 11.6% YoY
- Secured a large contract with one of India’sinnovative EV manufacturer for their charging and data transmission systems
- Won significant customers in the US across sectors such as industrial video surveillance, grid flexibility in clean energy, automotive heat transfer products & agro-technology systems
- Onboarded Mr. Shriram Vijayaraghavan as our new Group Chief Operating Officer. He brings valuable operational experience from his previous leadership roles at companies like Wheels India, Caterpillar, and Hertz, as well as strategic experience from his previous position at McKinsey
- Successfully qualified for Transfer of Technology by CDAC for HPC servers as part of Rudra, India's indigenous server program
- 2 new plants to be commissioned by Jan’24, supporting larger box builds, specialized metal & plastic processing capabilities
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