Stocks of newly listed Avalon Technologies Limited started its trading session today at Rs 405 and closed at a price of Rs 406. The scrip gained 2 percent as compared to the previous closing price of Rs 398.
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The company’s shares made a muted debut on the BSE yesterday listing at Rs 431 which was a discount of over 1 percent against the issue price of Rs 436.
A surge in stock prices today is because of the bulk deal buzz around the company. According to the data available on the exchange, Goldman Sachs Funds (India Equity Portfolio) bought 3,50,230 shares at a trade price of Rs 412.91.
In addition to the above, Goldman Sachs Investments (Mauritius) Limited bought 4,45,405 shares at a trade price of Rs 408.13.
Avalon Technologies Limited, founded in 1999, is a global end-to-end electronic manufacturing services provider with 12 manufacturing units located across India and US. The customer base spans both, industry leaders and innovative ventures. The company offers a spectrum of integrated manufacturing services across industries for customers worldwide.
Having a look at the YoY financials of the company, the revenues, as well as net profits, have showcased decent growth with revenues increasing from Rs 690 crores in FY20-21 to Rs 840 crores in FY21-22 and net profits shifting from Rs 23 crores in FY20-21 to Rs 68 crores in FY21-22.
Coming onto the profitability ratios, the ROE showed movement from 43.34 percent in FY20-21 to 92.66 percent in FY21-22. Moreover, the ROCE shifted from 17.17 percent in FY20-21 to 30.22 percent in FY21-22.
Adding to the operational efficiency showcased by the company, the debt-to-equity ratio has also reduced YoY by showing a movement from 4.93 in FY20-21 to 3.37. Though, the numbers are above the ideal ratio targeted by companies.
Written by Amit Madnani
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