Heavy Electrical Equipment company Avalon Technologies announced Q1FY25 results: Financial Highlights: Revenue decreased by 8.0% on QoQ basis and 15.2% on YoY basis. Gross Margin came in at 33.2%. EBITDA Margin is at 2.2%. Key Highlights: Order book + Long-term contracts increased 43.5% YoY. Generated Operating Cashflows of Rs 36 crore in Q1FY25. In Q1, payable & receivable days improved by 7 & 4 days respectively. Overall Net Working Capital improved by 5 days. A new plant for exports started operations. Another brownfield expansion for domestic demand is expected next year. Won orders from established US customers in Automotive, Clean energy & Industrial segments. Won Platinum, Gold & Silver awards in 18th National 3M competition conducted by Confederation of Indian Industry (CII). Result PDF
Heavy Electrical Equipment company Avalon Technologies announced Q4FY24 results: Revenue grew by 1.2% on QoQ basis and down by -20.2% on YoY basis. Gross Margin is at 37.5%. EBITDA Margin is at 7.9%. Our Indian manufacturing, which represents 77% of our business reported operating margins of 12.7% and PAT margins of 8.5%. Losses in the US operations are temporarily overshadowing the strong performance of our Indian operations and impacted our consolidated results. Our Order book + Long term contracts increased by 26% YoY. US geography revenue increased by 13% QoQ growth showing initial signs of recovery. Absolute inventory levels decreased by 10% from Dec’23 to Mar’24. Result PDF
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 Result PDF