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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
Avalon Technologies Limited is an India-based integrated electronic manufacturing services (EMS) company with end-to-end capabilities in delivering box build solutions. It offers a wide range of capabilities, including printed circuit board (PCB) design and assembly, cable…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
A middling, fast-growing business, fully valued — but flagged on governance.
Avalon Technologies is scored on the general / industrial framework. It keeps a slim 6.9% of every rupee of sales as net profit. Cash conversion lags the reported profit (CFO/PAT 0.51×) — worth a closer look. Free cash flow is worth about -0.1% of its market value.
Over the last 3 years revenue compounded at 19%/yr and profit at 29%/yr. Book value has grown 10%/yr. Return on equity is a healthy 15.7%. In the latest quarter profit fell 15% versus the prior quarter.
At 112× earnings, the stock sits at the 64th percentile of its own 3.6-year range — the middle of where it has historically traded. Today's price already implies ~31%/yr earnings growth sustained for a decade — a demanding bar. The forensic screen raises a red flag: Only ₹0.34 of cash per ₹1 profit over 4 years — earnings not converting to cash.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 94.92 | 31.55 | worse |
| P/B | 17.57 | 4.25 | worse |
| EV/EBITDA | 61.25 | 28.53 | worse |
| ROE | 15.65 | 15.79 | worse |
| ROCE | 18.01 | 13.24 | better |
| ROA | 10.57 | 2.94 | better |
| Quick Ratio | 1.12 | 2.52 | worse |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| LG Electronics India | 61.9 | 13.5 | 21.9% |
| Dixon Techno | 44.2 | 13.1 | 26.4% |
| Havells India | 42.4 | 7.2 | 17.0% |
19% CAGR over 3 years — steady double-digit compounder. Growth is accelerating — latest year outpaced the prior year's rate.
Profit is growing faster than revenue (29% vs 19%) — margin expansion is at work. The latest year saw a +78% swing — check if it's a one-off or structural.
Operating margin has expanded from 8% to 9% — the business is keeping more of each rupee earned.
ROE at 16% — a respectable return on shareholder capital. High ROE despite single-digit margins — an asset-turn play with high capital velocity. Capital efficiency improving — ROE up 6pp across the window.
Profit grew faster than EPS (29% vs 22%) — share dilution is eroding per-share value. 22% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
1 of 4 years had negative operating cash flow — profitability on paper may not translate to cash. Raising capital despite positive cash flow — could signal expansion plans or opportunistic fundraising.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue broadly flat QoQ — stable but not accelerating. Run-rate stepping up — recent quarters average 20% above earlier ones.
Profit fell 15% QoQ — one-quarter drops can be noise, but a pattern matters.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.6y median.
Promoters at 40.4% — dispersed ownership; institutional flows drive the stock. Promoters reduced 4.1pp over 4 quarters — watch whether this is planned divestment or pledge invocations. FII stake up 3.6pp over 4 quarters — growing foreign interest. MF stake down 3.0pp — domestic funds are booking profits or rebalancing out.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.