Avalon Technologies Ltd - Stock Valuation and Financial Performance

The company was incorporated as Avalon Technologies Private Limited, a private limited company, at Chennai under the Companies Act, 1956 on November 3, 1999, and was granted the certificate of incorporation by the RoC. Subsequently, the name of the company was changed to Avalon Technologies Limited pursuant to a special resolution passed by the shareholders of the Company on July 6, 2022, and a fresh certificate of incorporation dated July 29, 2022 was issued by the RoC consequent upon change of name upon conversion into a public limited company under the Companies Act, 2013. 

Avalon Technologies is one of the leading fully integrated Electronic Manufacturing Services (EMS) companies with end-to-end operations in delivering box build solutions in India in terms of revenue in Fiscal 2022, with a focus on high value precision engineered products. Through a unique global delivery model, it provides a full stack product and solution suite, right from printed circuit board (PCB) design and assembly to the manufacture of complete electronic systems (Box Build), to certain global original equipment manufacturers (OEMs), including OEMs located in the United States, China, Netherlands and Japan.

Its capabilities include PCB design and assembly, cable assembly and wire harnesses, sheet metal fabrication and machining, magnetics, injection molded plastics and end-to end box build of electronic systems. It specializes in manufacturing and providing design support for critical integrated assemblies, sub-assemblies, components and enclosures for multiple industry verticals. The end-use industries it caters to include a mix of established and long product lifecycle industries, such as industrial, mobility and medical devices and high growth ‘sunrise’ industries, such as solar, electric vehicles and hydrogen in the clean energy sector and digital infrastructure in the communications sector.

Business area of the company

The company is one of the leading fully integrated Electronic Manufacturing Services (EMS) companies with end-to-end operations in delivering box build solutions in India in terms of revenue in Fiscal 2022 , with a focus on high value precision engineered products.

Products and solution of the company

• Design for manufacturing implementation
  
• Engineering
  
• New product introduction (NPI) services
  
• Volume production
  
• Life Cycle Management
  
• System integration
  
• PCB assembly technology
  
• Cable & wire harness
  
• Sheet metal
  
• Aerospace metal
  
• Machining service for complex systems
  
• Magnetics
• Plastic
• Supply chain & logistics

Awards, accreditations or recognition

• 2015: Environmental Leadership award at the India ABO Suppliers Conference, 2015.
• 2017: Export Excellence award for second place in highest exports in electronic hardware sector from MEPZ.
• 2017: ‘Prime Supplier’ award from one of its Customers.
• 2018: Supplier award for ‘Strategic Partnership’ from Faiveley Transport Rail Technologies.
• 2019: Awarded ANSI/ESD S20.20 certification by NQA, USA for manufacture of printed circuit board assemblies, PCBA prototypes and box builds to ATS.
• 2019: ‘Best Supplier Award’ for demonstrated sustained performance by Collins Aerospace.
• 2020: Awarded ISO 9001:2015 accreditation by TUV SUD South Asia Private Limited for manufacture, assembly and supply of cable and harness assemblies
• 2021: Awarded AS 9100D and ISO 9001:2015 accreditation by TUV SUD. America Inc for manufacture, assembly and supply of fabricated sheet metal and machined components including powder coating, manufacture, assembly and supply of cable and harness assemblies and injected cable over molded parts for aviation, space and defense applications.
• 2021: Awarded ISO 9001:2015 accreditation by TUV SUD South Asia Private Limited for manufacture of printed circuit board assemblies, PCBA prototypes and box build.
• 2021: Awarded IATF 16949 accreditation by TUV SUD Management Service GmBH for manufacture of electronic products covering PCB assemblies, cable assemblies, wiring harnesses and electromechanical assemblies.
• 2021: Platinum winner (shutdown type) at the 9th CII National Poka Yoke competition organised by the Confederation of Indian Industry.
• 2021: Star champion award, Poka Yoke competition – Shutdown type, organised by the Confederation of Indian Industry.
• 2021: Gold winner in the Innovative Category at the 4th CII National Kai – Zen competition organized by the Confederation of Indian Industry.
• 2021: Awarded AS 9100D and ISO 9001:2015 certification by TUV SUD America Inc for manufacture and supply of powder coated components for aviation, space and defense applications to ATS.
• 2021: Awarded AS 9100D and ISO 9001:2015 certification by TUV SUD America Inc for manufacture and supply of injected molded plastic parts and assemblies for aviation, space and defense applications to ATS.
• 2021: Awarded AS 9100D and ISO 9001:2015 certification by TUV SUD America Inc for manufacture and supply of fabricated sheet metal and machined components for aviation, space and defense applications to ATS.
• 2021: Awarded ISO 9001:2015 certification by TUV SUD South Asia Private Limited for manufacture, assembly & supply of transformers, magnetic winding assemblies and electro mechanical assemblies to ATS.
• 2021: Awarded ISO 9001:2015 certification by TUV SUD South Asia Private Limited for manufacturing of wiring and electro-mechanical assemblies (including cabinets and sub racks) to ATS.
• 2021: Awarded ISO 9001:2015 certification by TUV SUD South Asia Private Limited for manufacturing of printed circuit board assemblies, PCB prototypes, box builds, cable harness and electro mechanical assemblies to ATS.
• 2022: The company was recognized at the Supplier Conference Partnership for Growth by Baker Huges.
• 2022: The Excellence in Quality Award awarded for outstanding performance to the company at Crane Co. Indian Supplier Meet.
• 2022: Awarded “Indo-U.S. Business Excellence Award” to the company, for exports to USA (MSME category) by the Indo American Chamber of Commerce.

History and milestones

• 1999: Incorporation of the company.
  
• 2000: Allotment of 301 square meter factory space by Development Commissioner, Madras Export Processing Zone (“MEPZ”) for setting up of a unit by the company.
• 2001: Export of the first consignment by the company to Sienna.
• 2001: Allotment of additional 301 square meter factory space by MEPZ for setting up of an additional unit by the company.
• 2002: Allotment of additional 301 square meter factory space by MEPZ for manufacture and export by the company.
• 2003: Commencement of production of metal parts, sub-assemblies and plastics and other material for exports at MEPZ-SEZ, Chennai by the company.