By BullScreen Editorial Team 
Avalon Technologies Limited reported strong Q4 results 2026, driven by higher demand from US customers, improving operational efficiency, and growth in high-margin integrated manufacturing solutions.
The company posted revenue of INR 480 crore in the March quarter, up 40% year-on-year from INR 343 crore in the same period last year. Sequentially, revenue rose nearly 15% from Q3 FY26, marking the seventh consecutive quarter of improvement in business performance.
EBITDA for the quarter increased 37.5% YoY to INR 57 crore, while EBITDA margin stood at 11.8%. Profit after tax surged 69.5% to INR 41 crore compared to INR 24 crore in Q4 FY25. PAT margin also improved sharply to 8.4% from 7.0% a year earlier, reflecting stronger operating leverage despite mild pressure on gross margins.
For the full financial year, Avalon Technologies reported revenue from operations of INR 1,603 crore, registering 46% growth over FY25. Annual PAT climbed 78% to INR 113 crore, while EBITDA rose 50.9% to INR 173 crore. The company’s ROCE improved significantly to 20.6%, highlighting better capital efficiency.
The company also strengthened its balance sheet during Q4 Results 2026. Gross debt declined to INR 142 crore from INR 306 crore a year ago, while net debt-to-EBITDA improved to a low 0.2x. Its order book stood at INR 2,196 crore as of March 31, 2026, up 24.7% YoY, supported by long-term contracts worth INR 1,245 crore.
Avalon Technologies continues to benefit from rising global outsourcing trends in the electronics manufacturing services sector. The company derives 62% of its revenue from US customers and operates 15 manufacturing facilities across India and the United States. High-margin box-build solutions contributed 54% of FY26 revenue, helping support profitability growth during the year.
| Metric | Q4 FY26 | Q4 FY25 | YoY Change |
|---|---|---|---|
| Revenue | INR 480 Cr | INR 343 Cr | ↑ 40.0% |
| EBITDA | INR 57 Cr | INR 41 Cr | ↑ 37.5% |
| EBITDA Margin | 11.8% | 12.0%* | Stable |
| PAT | INR 41 Cr | INR 24 Cr | ↑ 69.5% |
| PAT Margin | 8.4% | 7.0% | ↑ 135 bps |
| Sequential Revenue Growth | INR 480 Cr vs INR 418 Cr | — | ↑ 14.9% |
| Metric | FY26 | FY25 | YoY Change |
|---|---|---|---|
| Revenue from Operations | INR 1,603 Cr | INR 1,098 Cr | ↑ 46.0% |
| Gross Margin | INR 550 Cr | INR 393 Cr | ↑ 40.2% |
| EBITDA | INR 173 Cr | INR 115 Cr | ↑ 50.9% |
| EBITDA Margin | 10.8% | 10.5% | ↑ 35 bps |
| Profit After Tax (PAT) | INR 113 Cr | INR 63 Cr | ↑ 78.0% |
| PAT Margin | 6.9% | 5.7% | ↑ 123 bps |
| ROCE | 20.6% | 10.0% | Strong Improvement |
| Key Indicator | FY26 Status | FY25 Status |
|---|---|---|
| Total Order Book | INR 2,196 Cr | INR 1,761 Cr |
| Long-Term Contracts | INR 1,245 Cr | — |
| Gross Debt | INR 142 Cr | INR 306 Cr |
| Net Debt / EBITDA | 0.2x | Higher YoY |
| Net Working Capital Days | 112 Days | 124 Days |
| Inventory Days | 84 Days | 118 Days |
| Manufacturing Units | 15 Facilities | — |
| Revenue from US Customers | 62% | 57% |
Source: https://www.bseindia.com/xml-data/corpfiling/AttachHis/138482ec-49bc-4ec7-a2b6-6c348c0391dc.pdf