Avalon Technologies Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2023
May 26, 2023 at 12:03 pm
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Avalon Technologies Limited reported earnings results for the fourth quarter and full year ended March 31, 2023. For the fourth quarter, the company reported sales was INR 2,718.03 million compared to INR 2,097.46 million a year ago. Revenue was INR 2,755.67 million compared to INR 2,131.84 million a year ago. Net income was INR 227.08 million compared to INR 105.32 million a year ago. Basic earnings per share from continuing operations was INR 3.96 compared to INR 1.88 a year ago. Diluted earnings per share from continuing operations was INR 3.82 compared to INR 1.88 a year ago.
For the full year, sales was INR 9,447.19 million compared to INR 8,407.18 million a year ago. Revenue was INR 9,590.69 million compared to INR 8,516.5 million a year ago. Net income was INR 525.03 million compared to INR 632.08 million a year ago. Basic earnings per share from continuing operations was INR 9.27 compared to INR 11.31 a year ago. Diluted earnings per share from continuing operations was INR 9.08 compared to INR 11.31 a year ago.
Avalon Technologies Limited is an India-based fully integrated electronic manufacturing services (EMS) company with end-to-end capabilities in delivering box build solutions. The Company operates globally and serves a diverse customer base. It possesses a wide range of capabilities, including printed circuit board (PCB) design and assembly, cable and wire harness manufacturing, sheet metal fabrication and machining, injection molded plastics, and magnetics. The Companyâs specialization lies in the manufacture and provision of design support for pivotal integrated assemblies, sub-assemblies, components, and enclosures across multiple industry verticals. Its other capabilities include cable assembly and wire harnesses, sheet metal fabrication, machining, magnetics and injection molded plastics. Its manufacturing facilities are located in India and in the United States. Its facilities are located in Chennai and Bangalore. Its other facilities are located in Atlanta and Fremont.