Avalon Tech at new high

Avalon Technologies is currently the top gainer on the BSE, riding high on the earnings announced yesterday for Q2FY25.

An Electronic Manufacturing Services (EMS) company, its revenue from operations rose 37% (YoY) to Rs.275 crore. EBITDA came in at Rs.30 crore, up 140% and PAT for the quarter too rose 140% to Rs.17 crore. EBITDA margin improved from 7% to 17%.

59% of its revenue came from US markets and balance 41% from Indian markets.

The company’s order book increased by 19.4% YoY at Rs.1485 crore.

Its new plant for exports started operations. On brownfield expansion for domestic demand, Phase 2 work is estimated to commence early next year.

The stock, which had closed yesterday at Rs.589.95, opened today at Rs.669.95 and went on to hit a new 52-week high at Rs.707, up 20%, just 90 paise short of its UC for the day.