Shares of Avalon Technologies ended 20% higher after the firm announced its Q2 earnings today. The stock ended at Rs 707.90, a fresh 52 week high, against the previous close of Rs 589.95 on BSE. Avalon Technologies' consolidated net profit surged 140.44% to Rs 17.48 crore against Rs 7 crore profit in the corresponding quarter of the previous fiscal.
Market cap of the firm rose to Rs 4,675.39 crore. The stock is neither overbought nor oversold on charts as the relative strength index (RSI) of the stock stands at 52.2. Avalon Technologies stock stands higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Revenue climbed 37% to Rs 275 crore in Q2 against Rs 201 crore in the corresponding quarter of the previous fiscal.
Avalon Technologies' EBITDA surged 139% to Rs 30 crore in Q2 against Rs 13 crore in the coprresponding quarter of the previous fiscal.
Gross margins surged 36% to Rs 101 crore in Q2 against Rs 74 crore in the second quarter of the previous fiscal.
Order book climbed 19.4% to Rs 1,485 crore in the last quarter compared with Rs 1,244 crore as on September 30, 2023.
Avalon Technologies is engaged as an Electronics Manufacturing Service (EMS) provider with capabilities in Printed Circuit Assembly Boards PCBA’s, custom cable, wire harness, metal, plastic, magnetics components and assemblies with enhanced capabilities in engineering design and development.