Avalon Technologies Q4 FY26 Results: PAT Rs 41.15 Crore Up 69.5% YoY, Revenue Up 40% as Order Book Hits Rs 2,196 Crore
- May 8, 2026
- Posted by: Kashish Aggarwal
- Category: News
The Avalon Technologies Q4 results for the quarter ended March 31, 2026, were announced on May 6, 2026, with the company reporting a quarterly net profit of Rs 41.15 crore against Rs 24.3 crore (approx, 69.5% growth) in the corresponding quarter last year. Revenue from operations for Q4 FY26 stood at Rs 480 crore, compared to Rs 343 crore in Q4 FY25. For the full year FY26, Avalon Technologies reported PAT of Rs 112.90 crore on revenue of Rs 1,603.20 crore. Ankit Jaiswal, Senior Research Analyst at Univest, and Kunal Singla, Associate Director at Univest, have analysed the Avalon Technologies Q4 results in detail to assess the key takeaways for investors.
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Avalon Technologies Q4 FY26 Key Financial Metrics
| Parameter | Q4 FY26 | Comparison Period | Change |
|---|---|---|---|
| Net Profit (PAT) | Rs 41.15 crore | Rs 24.3 crore (approx, 69.5% growth) | See analysis below |
| Revenue / Total Income | Rs 480 crore | Rs 343 crore | See analysis below |
| FY26 Annual PAT | Rs 112.90 crore | FY25 base | YoY improvement |
| FY26 Annual Revenue | Rs 1,603.20 crore | FY25 base | See analysis |
| Dividend | None | N/A | N/A |
| NSE Ticker | AVALON | Sector | Electronics Manufacturing Services (EMS) |
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Avalon Technologies Q4 Results Analysis
Seventh Consecutive Quarter of Sequential Improvement
The Avalon Technologies Q4 results mark the seventh consecutive quarter of sequential performance improvement, a consistency record that Jaiswal considers rare and meaningful for a company still in its growth ramp. Revenue grew 14.9 percent QoQ and 40 percent YoY to Rs 480 crore in Q4 FY26. PAT grew 26.2 percent QoQ and 69.5 percent YoY to Rs 41.15 crore. The India business grew 29 percent YoY and the US business grew 59 percent YoY in FY26. Box-build solutions, which are higher-value integrated assembly products, contributed 54 percent of FY26 revenue, reflecting a mix shift toward higher-margin work. EBITDA stood at Rs 56.9 crore with margin at 11.85 percent. Find EMS sector peers on the Univest Screener.
Order Book of Rs 2,196 Crore Provides Strong Forward Visibility
The order book as of March 31, 2026, stood at Rs 2,196 crore, up 25 percent YoY, providing approximately 14 months of forward revenue visibility. Long-term contracts worth Rs 1,245 crore are executable over 14 months to 3 years, adding further revenue stability. For an EMS company, the order book is the most critical leading indicator of future revenue, and the 25 percent YoY growth in order book from the Avalon Technologies Q4 results supports continued strong revenue growth in FY27. The EMS industry is projected to grow at a CAGR of 27 percent per Macquarie, MEITY, and Frost and Sullivan estimates cited by the company.
Working Capital Improvement Confirms Operational Maturity
Net working capital days improved from 124 days in March 2025 to 112 days in March 2026, a 12-day reduction. For a manufacturing company, working capital efficiency directly translates to better cash flow and lower financing costs. Total assets grew to Rs 1,264 crore from Rs 1,040 crore in FY25. FY26 EBITDA was Rs 173 crore, up 50.9 percent. Singla considers the working capital improvement alongside the seventh consecutive sequential improvement in the Avalon Technologies Q4 results to be evidence of genuine operational maturity and scaling discipline.
Risks to the Avalon Technologies Investment Thesis
- Customer Concentration Risk: EMS companies typically depend on a small number of large customers. Any customer loss or demand reduction could materially impact quarterly results.
- EBITDA Margin Compression: Q4 FY26 EBITDA margin of 11.85 percent is slightly lower than 12.1 percent in Q4 FY25. Sustaining margins requires ongoing investment in technology and automation in a competitive EMS landscape.
- US Business Execution Risk: The US business grew 59 percent YoY but operating in the US brings higher labour costs, compliance complexity, and foreign currency risk.
- Scale Disadvantage versus Peers: Avalon competes with Dixon Technologies and Amber Enterprises, which have significantly larger scale and customer relationships.
Conclusion
The The Q4 FY26 results for FY26 establish the company as a credible mid-cap growth story in India’s fastest-expanding manufacturing sector. PAT of Rs 41.15 crore up 69.5 percent in Q4, Rs 112.90 crore annually up 78 percent, order book of Rs 2,196 crore up 25 percent, and seven consecutive quarters of sequential improvement are all compelling data points. Ankit Jaiswal, Senior Research Analyst at Univest, considers the order book growth and box-build mix shift the most structurally significant positives from the These quarterly numbers. Kunal Singla, Associate Director at Univest, flags margin sustainability and customer concentration as the two primary risks to monitor as the company scales further in FY27. The most important forward variable is the pace of order book replenishment to sustain the strong revenue growth trajectory.
DISCLAIMER: This article is for educational and informational purposes only and does not constitute investment advice. Univest analysts are SEBI-registered research analysts (SEBI RA: INH000012449). Investments in the securities market are subject to market risk. Consult a SEBI-registered financial advisor before making any investment decisions.
Frequently Asked Questions on Avalon Technologies Q4 FY26 Results
What was the PAT in AVALON’s Q4 performance FY26?
The The Q4 FY26 results for Q4 FY26 showed a net profit of Rs 41.15 crore, compared to Rs 24.3 crore (approx, 69.5% growth) in the corresponding period of the previous year. Revenue for Q4 FY26 was Rs 480 crore. For the full year FY26, PAT stood at Rs 112.90 crore on revenue of Rs 1,603.20 crore. These results were approved at the board meeting held on May 6, 2026.
What dividend was declared after These quarterly numbers FY26?
The board declared or recommended a dividend of None following the AVALON’s Q4 performance announcement. The dividend is subject to shareholder approval unless declared as an interim dividend and reflects the company’s cash generation capacity in FY26. Investors should verify the record date and payment timeline through the company’s official stock exchange filings on NSE or BSE.
What are the key highlights of The Q4 FY26 results FY26?
The key highlights from the These quarterly numbers include: 7th consecutive sequential improvement quarter; FY26 EBITDA Rs 173 crore up 50.9%; order book Rs 2,196 crore up 25% YoY; India biz up 29% / US biz up 59% YoY; box-build 54% of FY26 revenue; working capital days improved to 112 from 124. These metrics were confirmed through official filings on NSE and BSE and verified from sources including EquityBulls, Business Standard, and ScanX on May 6 and 7, 2026.
What are the key risks after AVALON’s Q4 performance FY26?
Investors reviewing the The Q4 FY26 results should monitor the risks specific to Avalon Technologies’s business model in the Electronics Manufacturing Services (EMS) sector. These include macroeconomic sensitivity, sector-specific cyclicality, competitive pressures, and any company-specific operational risks outlined in the analysis above. Always consult a SEBI-registered financial advisor before making any investment decision based on quarterly results.
Where can I track Avalon Technologies live stock price and analyst data after Q4 results?
Track Avalon Technologies (NSE: AVALON) live price, FII and DII flows, analyst estimates, and peer comparisons on the Univest Screener. For deeper research reports and investment recommendations following the These quarterly numbers, subscribe to Univest Pro at univest.in. Download the Univest Android App or Univest iOS App for live alerts on this stock.
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