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To To

BSE Limited Corporate Relationship Department PJ towers, Dalal Street, Mumbai -400001 BSE SCRIP CODE: 543896	The Manager Listing Department The National Stock Exchange of India Limited “Exchange Plaza”, Bandra – Kurla Complex, Bandra (EAST), Mumbai – 400051 NSE Symbol: AVALON

Sir(s)/Madam,

Sub: -

Investor Presentation on the Audited Standalone and Consolidated Financial Results for the Quarter and Financial Year Ended March 31, 2024

This is in continuation to our letter dated May 08, 2024, regarding the Board Meeting to be held on May 16, 2024, wherein the Board approved the Audited Financial Results (Standalone and Consolidated) for the quarter and financial year ended March 31, 2024.

In this regard, we have provided the following:

“Investor Presentation on the Audited Standalone and Consolidated Financial Results for the Quarter and Financial Year ended 31[st] March 2024 .”

Yours sincerely,

For Avalon Technologies Limited

Digitally signed by RAJESH V RAJESH V Date: 2024.05.16 21:34:13 +05'30'

Name of the Person : Dr. V. Rajesh

Designation : Company Secretary & Compliance Officer Membership Number: F9213

Date: May 16, 2024

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May 2024 Earnings Presentation Q4 & FY24

www.avalontec.com

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Disclaimer

This presentation and the accompanying slides (the “Presentation”), which have been prepared by Avalon Technologies Limited(the “Company”), solely for information purposes without any regard to any specific objectives, financial situations or informational needs of any particular person and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This presentation may not be copied, distributed or disseminated, directly or indirectly, in any manner. Failure to comply with this directive may result in a violation of the applicable law in certain jurisdictions. By reviewing this presentation, you agree to be bound by the restrictions contained herein, and to maintain absolute confidentiality, regarding the information disclosed in these materials.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. These statements can be recognized by the use of words such as "expects", "plans", 'will", "estimates", "projects", or other words of similar meaning. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.

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Business Highlights

Financial Highlights

Strategy

Company Overview Annexures

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STRICTLY PRIVATE AND CONFIDENTIAL

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AVALON – AT A GLANCE
One of the India’s Leading Fully Integrated EMS Company with a Global Delivery Footprint
Only India EMS player to
have full-fledged manufacturing
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14* Manufacturing Hybrid units across US Manufacturing / India Operations

570k+*sq.ft. Design & Located in Manufacturing SEZ and Facilities DTA

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100 % 99.9 % 100 %
Avalon Technologies & Sienna ECAD ABV Electronics Inc., US
Services Pvt Ltd, India Technologies Pvt Ltd, India
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Source: F&S report. Percentages have been rounded of to the nearest whole number.

* Includes two new plants under construction

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One of the leading
India EMS player
FY24 metrics
10.0% 7.2% 3.2%
Return on Capital EBITDA Margin PAT Margin
Employed
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Business Highlights

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Key events
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Order book + Long-term contracts increased 26% YoY

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50% INR 1,366 Cr [#]
Box-build Revenue Order book
INR 949 Cr
10.0%
RoCE Long–term Contracts
Business
Highlights
8.3 46%
Asset turn - Revenue from Indian
Capex light model market customers
54%
77%
Manufacturing in India Revenue from US market
customers
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13% QoQ growth in revenues from US geography showing initial signs of recovery

# Order Book executable over avg. period of 14 Months * Long – term contracts executable over 14 Months to 3 years

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Financial Highlights – FY 24

(INR Cr.)

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Order
Gross Margin EBITDA PAT Book
FY 24 FY 24 FY 24 31 [st] March 2024
315 YOY% 62 YOY% 28 YOY% 1,366 YOY%
Revenue
9.5% 44.5% 46.7% 11.0%
FY 24 348 FY 24 113 FY 24 53 FY 24 1,231
867 YOY% FY 23 36.3% YOY% FY 23 7.2% YOY% FY 23 3.2% YOY% 31 [st] March 2023
8.2% 52 bps 472 bps 230 bps
945 36.8% 11.9% 5.5%
FY 23 FY 23 FY 23 FY 23
Gross Margin% EBITDA% PAT%
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Financial Highlights – Q4 FY 24

(INR Cr.)

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Order
Gross Margin EBITDA PAT Book
Q4 FY 24 Q4 FY 24 Q4 FY 24 31 [st] March 2024
81 YOY% 17 YOY% 7 YOY% 1,366 YOY%
Revenue
22.5% 58.0% 68.9% 11.0%
Q4 FY 24 105 Q4 FY 24 41 Q4 FY 24 23 Q4 FY 24 1,231
Q4 FY 23 Q4 FY 23 Q4 FY 23 31 [st] March 2023
217 YOY% 37.5% YOY% 7.9% YOY% 3.2% YOY%
20.2% 111 bps 714 bps 502 bps
272 38.7% 15.1% 8.2%
Q4 FY 23 Q4 FY 23 Q4 FY 23 Q4 FY 23
Gross Margin% EBITDA% PAT%
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Financial Highlights - Q4 FY24

(INR Cr.)

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Gross
Revenue
Margin
Q4 FY 24 217 Q4 FY 24 38%
71
1.2%
Q3 FY 24 214 20.2% Q3 FY 24 37% Bps 111
Bps
Q4 FY 23 272 Q4 FY 23 39%
EBITDA PAT
3%
Q4 FY 24 8% Q4 FY 24
18
22
Q3 FY 24 8% Bps 714 Q3 FY 24 3% Bps 502
Bps Bps
Q4 FY 23 15% Q4 FY 23 8%
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Income Statement

(INR Cr.)

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Particulars Q4 FY24 Q4 FY23 YoY Change FY 2024 FY 2023 YoY Change
Revenue from Operations 217 272 -20.2% 867 945 -8.2%
Cost of Goods Sold 135 167 -18.8% 552 597 -7.5%
Gross Margin 81 105 -22.5% 315 348 -9.5%
Gross Margin (%) 37.5% 38.7% -111 bps 36.3% 36.8% -52 bps
Personnel Cost 45 47 -3.0% 185 172 7.6%
Other Operating Expenses 19 18 8.7% 67 63 6.4%
EBITDA 17 41 -58.0% 62 113 -44.5%
EBITDA (%) 7.9% 15.1% -714 bps 7.2% 11.9% -472 bps
Depreciation 6 5 17.8% 23 20 16.5%
Finance Cost 4 10 -58.5% 16 35 -52.9%
Profit Before Tax (PBT) 10 30 -67.1% 38 73 -47.7%
Tax 3 7 -61.4% 10 20 -50.1%
Profit After Tax (PAT) 7 23 -68.9% 28 53 -46.7%
PAT (%) 3.2% 8.2% -502 bps 3.2% 5.5% -230 bps
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Financial Metrics - I

(INR Cr.)

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27.2%
24.6%
21.3%
10.0%
FY 21 FY 22 FY 23 FY 24
306
295
294
164
Mar’21 Mar’22 Mar’23 Mar’24
RoCE (%)
Gross Debt
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10.4
9.4
8.3
8.3
FY 21 FY 22 FY 23 FY 24
4.0
2.9
2.7
-0.3
FY 21 FY 22 FY 23 FY 24
Asset Turn
Net Debt to EBITDA
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*Calculated excluding IPO cash proceeds

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Financial Metrics - II

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118
106
89
71
Mar’21 Mar’22 Mar’23 Mar’24
62
43 41
36
Mar’21 Mar’22 Mar’23 Mar’24
Inventory days
Trade Payables days
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96
80
77 79
Mar’21 Mar’22 Mar’23 Mar’24
161
144
122
105
Mar’21 Mar’22 Mar’23 Mar’24
Trade Receivables days
Net Working Capital Days
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Global Customer Relationships

Presence across Multiple Industries with a Diversified Customer Base

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Clean Energy Mobility / Transportation Industrials Communication Medical & Others
Solar Electric Hydrogen Railways Automotive Aerospace Power & Telecom & Digital Medical Defence &
Automation Satellite Infrastructure Others
Vehicle
Revenue – FY24
18% 26% - 28%
13% 15%
Revenue – FY23
27% 21% - 24% 13% 15%
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Global Customer Relationships

Revenue split based on Customer geography

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FY 2024
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INDIA – 46%
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US – 54%
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FY 2023
INDIA – 41%
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US – 59%
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Industry Outlook
Key Drivers
Emerging sectors
Rising share of EMS
to drive growth
manufacturing
• Solar • EMS Industry CAGR [1] : 32.3%
•
Hydrogen • Industry In-house CAGR [1] : 21.4%
•
Electric Vehicles
Industry
Tailwinds
Mfg. moving to Growing Indian
US and India EMS market
• “China+1” strategy • Increasing new electronic
• US-China trade war applications
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Source: F&S report. Mfg. – Manufacturing. Note: 1. CAGR over FY22 – 26E in India domestic production.

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EMS market is poised for a robust growth across industries. India showcases unique competitive strengths

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Global EMS Market
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India’s Market Share
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Change in Market share
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Inflexion point
CAGR
(US$bn)
2021-26E 2016-21 2021-26E
7.0%
India 32.3% +1.1% +4.8%
880 1,145 US 6.1% +0.6% +0.5%
billion billion
2.2% SEA 5.4% +0.9% --
China 4.3% +3.2% -2.4%
2021 2026E 2021 2026E
Europe 3.1% +0.2% -0.7%
US$20bn US$80bn
Others 3.1% -6.1% -2.1%
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Source: F&S Report. Notes: Numbers have been rounded-off.

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Our Growth Strategy

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Optimal
Blend of Combination of Balance of
Geography Today’s & Tomorrow’sTechnology Profitability & Growth
Customer Presence
Cater to world’s
• Established businesses – •
fastest growing EMS 46% 54% Focus on profitable growth
markets – India & US India USA Collaborate, Grow wallet share via
up-selling & cross-selling • Cater to
Capitalize on India Manufacturing Presence • Sunrise sector - Partner with • profitable segments. Eg: Aerospace
•
manufacturing and 77% 23% emerging pioneers. Eg: Clean complex & mission critical product.
US onboarding India USA energy technology companies Eg: Big box builds
•
Win using integrated capabilities. For eg:
Capitalize on hybrid
Start with design services and reach box
manufacturing model build
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Customer Presence
• Cater to world’s fastest growing EMS 46% 54% markets – India & US India USA

Manufacturing Presence • Capitalize on India manufacturing and 77% 23% US onboarding India USA

Capitalize on hybrid manufacturing model

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Balance Sheet

Assets	FY24	FY23
Property, plant and equipment	104	91
Capital work in progress	20	15
Right-of-use / intangible assets	43	37

Financial assets	22	5
Other non-current assets	33	29
Total non-current assets	222	177
Inventories	316	318
Trade receivables	187	206
Cash and cash equivalents	107	422
Other financial assets	76	4
Other current assets	23	62
Total current assets	709	1012
Total assets	931	1189

(INR Cr.)

Equity and liabilities FY24 FY23	Equity and liabilities FY24 FY23	Equity and liabilities FY24 FY23
Shareholder's equity	547	537
Borrowings	53	66
Lease liabilities	35	29
Oth fiil libiliti	0	1
er nanca aes
Other non-current liabilities	13	11
Total non-current liabilities	103	107
Borrowings	111	241
Lease liabilities	10	7
Trade payables	97	142
Other financial liabilities	7	91
Other current liabilities	55	65
Total current liabilities	280	544
Total liabilities	383	652
Total equity and liabilities	931	1189

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Cashflow Statement

(INR Cr.)

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Particulars Mar’24 Mar'23
Operating profit before working capital changes 38 73
Changes in working capital -41 -112
Cash generated from operations 34 6
Direct taxes paid (net of refund) -16 -19
Net Cash from Operating Activities (A) 17 -13
Net Cash from Investing Activities (B) -146 -25
Net Cash from Financing Activities (C) -251 452
Net Change in cash and cash equivalents -380 414
Closing Cash balance 42 421
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STRICTLY PRIVATE AND CONFIDENTIAL

Avalon Group - Overview

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Telecom, satellite
Aircraft engine
systems and digital
parts infrastructure
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Medical devices
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Products for
application
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Avalon’s varied product applications across many end use industries

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Clean energy with
presence in solar,
hydrogen and
electric vehicles
industries
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Signaling and braking
systems for railways
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Our Journey So Far|
|Diversified Business and Strong Growth Avenues|
|Phase 1|Phase 2|Phase 3|
|1999|2003|2005|2007|2009|2010|2011|2016|Today|
|Commenced|Inauguration of new|Expansion of|Acquired design|Entry into|Strategic entry|Enhanced|Fully|
|production of|facility in MEPZ-|manufacturing|capabilities|Aerospace|into Railway|Box build|integrated|
|Avalon Incorporated|metals & plastics|SEZ, Chennai|capabilities in the US|vertical|vertical|capabilities|EMS service|
|provider|
|Customer|
|presence|
|Power|Industrial|Power and Industrial|Communication|
|Customers|Power|
|served|Communication|Aerospace & Mobility|Clean Energy|
|Communication|
|Aerospace|Medical and Others|
|PCB assembly|PCB assembly|In-house Design|
|Capabilities|PCB assembly|Metal, Cables assembly|Metal, Cables assembly|Magnetics|
|and wire harness|and wire harness|
|In-house design|Plastics|System Integration|
|Key focus|Larger customers and|Fully Integrated Solutions and in-house Box|
|Small clients and PCB|
|areas|diversified product offering|build solutions|

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Today
End-to-end Product Offering with Vertically Integrated Solutions – “One Stop Shop”
Build
PCB Sheet System
Machining
assembly metal integration
Rapid
prototyping 2 4 6 8
Box
build Strong focus on
providing box build
Design & new product
development solutions
50% of revenues in
FY24
1 3 5 7 9
PCB design Cable Functional
Magnetics Plastics
and analysis assembly testing
12 11 1 0
Enhance customer
Reverse Repair Logistics
value proposition
logistics
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Each of the capabilities have contributed to Avalon becoming one of the leading EMS companies in India

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Why Avalon
Our Key Differentiators
Vertical Integration Global Mfg. & Delivery Clean Energy
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PCB Design
and Analysis
New Product
Development
54% 46%
PCB
US [1] India [1]
Assembly
Cable Assembly
& Wire
Harnesses
Magnetics
1
Sheet Metal Fremont
Fabrication & , CA Chennai,
India
Machining 10
1
Injection Molded Atlanta, GA Bengaluru, 2
Plastics
India
End-to-End
Box Build
No. of manufacturing facilities
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Source: Note: 1. Revenue Contribution based on Geography.

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Service offering Industry presence
Design, Telecom
Year Testing and BuildBox EnergyClean Auto Railways [Aerospace ] & Defense [Industrials] (Commun Medical CEA Integration Vertical Global mfg. Aftermarket services Company focus
PCBA [2] -ication)
Avalon 1999          o    B2B
Dixon Technologies India Ltd. 1993   o o o o o o   o o  B2C
Amber Enterprises India Ltd 1990   o   o o o o  o o  B2B B2C
Elin Electronics Ltd 1969   o  o o o o   o o o B2C
Syrma SGS 1978  o   o o     o o  B2B
Technology Ltd
Kaynes Technology India Ltd --   o     o    o  B2B B2C
Bharat FIH Ltd --     o o o o o   o  B2C
SFO Technologies Pvt Limited 1990   o  o     o  o  B2B
VVDN
Technologies Pvt --  o o o o o   o o o o o B2B
Ltd
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Diversified product portfolio

Diversified across multiple end use industries

Presence in high precision & long product lifecycle industries

Leaders in high mix flexible volume products

Only Indian EMS company with manufacturing facilities in the US

Unique competitive advantage

Source: F&S Report. Notes: CEA = Consumer Electronics and Appliances. 1. Others include Mobile phones, IT Hardware, Lighting, Energy, Power, etc.; 2. Design includes product / PCB Design.

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Clean Energy
Avalon’s Presence in Clean Energy, a Sunrise Sector for the EMS Industry which is Poised for Robust Growth
India plans to install 450GW of
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India plans to install 450GW of Solar renewable energy capacity by 2030 Rising adoption of Electric Vehicles Electric vehicles Government schemes and incentives to promote clean energy adoption Global transition towards carbon neutrality Hydrogen

Robust growth of the clean energy sector creating additional demand for electronic products driving the EMS industry

Avalon is operating in key product categories in the clean energy sector

Source: F&S Report.

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High precision product offering across industries with long product development cycle & significant growth potential

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Long Product Lifecycle
Leaders in High Mix / Flexible
High Margins
Mobility Volume Products
Clean energy
Industrial
Presence in Multiple Industries Diversified
Communication
Medical
Others
Consumer Sticky
electronics Presence in Long Product
Lighting Customer
and appliances Lifecycle Industries
IT Base
Mobile phones
Growing Presence in High High Growth
Growth Sunrise Sectors Potential
High Mix High Volume
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Source: F&S report.

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High Mix Products (2/2)
Examples of Presence in High Mix & Long Product Development Cycle Products
Combustion liner Piston assembly for
Aerospace fueling system
Industrials
▪ Assembled with 32 sheet metal child parts ▪ Intricate injection insert molding
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Combined with high temperature alloys
Ultrasonically welding seals
Ensuring leak proof between fuel and nonfuel side plastics
Specialized welding processes
Anti-collision signaling system Railways
▪ Conducted joint product development and prototyping for over 6 years (early 2009 to 2015)
▪ Highly critical and reliable product
Significant barriers to entry for Railway Projects
Brazing and heat treatment

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Awards & Recognition
Numerous Awards Stand Testimony of Performance
Collins Faiveley Indo – American
Aerospace Transport Chamber of Commerce
Best Supplier Supplier
Award for Excellence Best export
demonstrated Award for performance to
sustained Strategic the US
performance Partnership
Runner-up of
Environmental
Best Indian Prime National
Leadership
Supplier Supplier Award [1] Soldering
Competition
CE+T TMEIC Cummins IPC
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Select customer awards for quality and customer satisfaction

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Client Delivery Model (1/2)
Flexibility in manufacturing and leveraging Hybrid Model
Make in India Hybrid Make in US
for India and Export for US
Build Local Expand Global
• Automation
• Labour Intensive
•
Configuration
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Client Delivery Model (2/2)
Strong Focus on Up-selling and Cross-selling
New Product
Development
PCB Analysis
& Design Plastics
Design for
Manufacturing
PCB
Assembly Box Build
Cables
Assembly
Prototyping
Metals
Magnetics
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Global manufacturing presence with state-of-the-art manufacturing facilities
Atlanta, US Bengaluru, India
1 2
Chennai, India
Fremont, US
10
1
Number of units Atlanta, US Bengaluru, India
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>570 k sq. ft. design & mfg. facilities 65 Production lines Operating 2 shifts

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Accredited with Global Quality
Standards and Certifications
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Buffer capacity to ramp up production

Notes: Numbers have been rounded-off. SMT = Surface Mount Technology; THT = Through Hole Technology. 1. PPM (customer parts per million) is defined as the number of parts which are defective out of a million; 2. Setting up a new assembly line; 3. Standard Minute Value is the time t aken by a qualified worker to perform a given task; 4. One of the facilities is located in Kanchipuram; 5. DTA = Domestic Tariff Area.

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Avalon’s Manufacturing Facilities
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Chennai, India

Bengaluru, India

Atlanta, US

Bengaluru, India

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STRICTLY PRIVATE AND CONFIDENTIAL 3247

Decades of experience in the EMS industry

Instrumental in Avalon’s growth

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Michael Robinson Savita R Ganjigatti RM Subramanian Chief Operating Officer[2] Vice President, Chief Financial Officer Engineering[3]
▪ Responsible for overall manufacturing ▪ Head of PCB design and analysis team[3] ▪ Responsible for financial functions of Avalon operations in the US ▪ Holds a bachelors in engineering and masters in Technologies Ltd. and its subsidiaries
▪ Holds a bachelor’s degree in science from technology from Visvesvaraya Technology ▪ Holds a bachelor’s degree in civil engineering Worcester Polytechnic Institute, US University, Belgaum from BITS and PGDM from IIM, Bangalore
▪ Prior experience: Motorola Inc., Wconect LLC ▪ Prior experience: Karnataka Telecom Ltd., ▪ Prior experience with A.F. Ferguson & Co Cairn Alpha-Imager Pvt. Ltd. Energy India Pty. Ltd. and Essar Oil Ltd.
▪ Co-invented “Battery Identification Apparatus” & “Weldless Battery Pack” (both US-patented) ▪ Member of TLP1 of IPC Design, US

Shriram Vijayaraghavan Chief Operating Officer

Kesavan P

Vice President, Operations

Responsible for overall operations of Avalon Technologies Ltd. & its subsidiaries
Several years of experience in operations – PCB and cables division
Holds a BE (Mechanical) degree from SVCE ▪ Attended first year of diploma course in (Anna University), an MS (Mechanical) from telecommunication from MEI Polytechnic, the University of Michigan Ann Arbor, and an Bengaluru MBA from the Kellogg School of Management
Prior experience: Quest Smartech Pvt. Ltd., Texmaxo Micro Indo Utama, Sun Fibre Optics ▪ Co-invented “Battery Identification Apparatus” Pvt. Ltd., MiniCircuits Ltd. & “Weldless Battery Pack” (both US-patented)
Prior experience: President at Wheels India, Vice President at Hertz Corporation (USA), Engagement Manager at McKinsey & Co (USA)
Co-contributed to research at Caterpillar Inc and the University of Michigan
Venky Venkatesh Shamil Bicha Arjun Balakrishnan Harold Frederick Schilb III O J Sathish Chief Sales Officer Vice President, Business Vice President, Corporate Vice President, Business Vice President[3] Development Strategy[4] Development[2]
▪ Responsible for Global Sales & Marketing ▪ Responsible for sales, business development ▪ Responsible for operations of metals, ▪ Responsible for business development & leads ▪ Head of PCB & Semiconductor engineering[3] ▪ functions of Avalon Technologies Ltd & its subsidiariesHolds a bachelor's degree in Mechanical ▪ and marketing functionsHolds a bachelors in mechanical engineering from University of Madras ▪ aerospace and plastics divisionHolds an MS (engineering) from University of Texas, US and an MBA from Harvard ▪ the sales teamHolds bachelors in science (electrical engineering) from Northeastern University, ▪▪ Heads Design & Development divisionHolds Bachelors in Engineering from[3] Engineering from PSG College of Technology University, Boston, US Massachusetts, US and an MBA from Fairleigh Annamalai University and PGDM (operations and a Master's in Industrial Management from ▪ Prior experience: Applied Materials, Inc. ▪ Prior experience: Holm Industries, GE Power Dickinson University, US management) from IGNOU Northern Illinois University Controls India Ltd., Panasonic India Pvt. Ltd. ▪ Prior experience: Dwfritz Automation LLC, ▪ Prior experience: Alpha-Imager Pvt. Ltd.
▪ Prior experience in Fortune 500 companies like Celestica Corporation, Electri-Cord Manufacturing Co, IEC Electronics Corp, etc.
Prior experience in Fortune 500 companies like Accenture, PwC, IBM & Infosys

Notes: BITS = Birla Institute of Technology; B.Com = Bachelors in Commerce; M.Com = Masters in Commerce; BA = Bachelors in Arts; MA = Masters in Arts; B.Tech = Bachelors in Technology; MS = Masters in Science; MBA = Masters in Business Administration; PGDM = Post Graduate Diploma in Management; IGNOU = Indira Gandhi National Open University. 1. Thought Leadership Programme. 2. of Sienna. 3. of Sienna ECAD. 4. VP, Corporate Strategy of Avalon Technologies & Services. | www.avalontec.com STRICTLY PRIVATE AND CONFIDENTIAL

STRICTLY PRIVATE AND CONFIDENTIAL

Kunhamed Bicha

Chairman & Managing Director

Bhaskar Srinivasan

Bhaskar Srinivasan Luquman Veedu Non-executive Director Ediyanam Non-executive Director

Sareday Seshu Kumar

Non-Executive Director

Promoter of Avalon Technologies Ltd.
Promoter of Avalon Technologies Ltd.
- Bachelor’s degree in technology from University of Calicut
MBA from Cochin University of Science & Technology; master’s degree in science ▪ Currently, the legal partner and MD at (industrial engineering) from Wichita State Dhafir Technologies, UAE University
Recipient of “CII Connect 2017 Award for Entrepreneur of the Year (Manufacturing)[1] ”
Bachelor’s degree in mechanical engineering from PSG College and master’s degree in science (industrial engineering) from Wichita ▪ Prior experience with Applied Materials, Inc. State University
Attended Osmania University to pursue a bachelor’s degree in arts
Participated in accelerated management programme conducted by ISB Decades of
▪ Prior experience: Founder and CEO of experience in the Emantras Interactive Technologies Pvt. Ltd. EMS industry

Venkataramani Chandar Pattabhiram Byas Unnikrishnan Nandita Abraham Ananthramakrishnan Independent Director Nambisan Independent Director Independent Director Independent Director Instrumental in Avalon’s growth

MBA from University of Chicago ▪ Bachelor’s degree in mechanical engineering ▪ Master’s degree in science (industrial ▪ Master’s degree in science from Philadelphia from PSG College administration) from Carnegie-Mellon College of Textiles and Science and a
▪ Currently, serves as the MD of IP Rings Ltd. University diploma in apparel marketing and (a part of Amalgamations group) ▪ Currently, serves as the Chief Marketing merchandising from NIFT, New Delhi Officer of Coupa Software Incorporated ▪ Currently, serves as the CEO & Director on the Board of Ezetap Mobile Solutions ▪ Currently, serves on the Board of Cerebrus
▪ Prior experience with Badgeville, Inc. and Pvt. Ltd. Consultants Pvt. Ltd. Marketo, Inc.

Notes: MD = Managing Director; ISB = Indian School of Business; PGDM = Post Graduate Diploma in Management. 1. Awarded by Confederation of Indian Industry.

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Annexures

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Shareholding Pattern

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Share Information
(As on March 31, 2024)
2%
FPI
NSE Ticker AVALON
Share Information
BSE Ticker 543896
(As on June 30, 2023)
51%
NSE Market Cap (INR Cr) 3,243
Promoter
24% group 80.13%
% free-float
Public
Free-float market cap (INR Cr) 2,600
Shares Outstanding 6,57,12,692
23%
DII Electronic Manufacturing
Industry
Services
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Note: Numbers have been rounded-off. 1. Restated numbers.
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Consolidated Profit and Loss

(INR Cr.)

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Particulars FY21 FY22 FY23 FY24
Revenues from operations 691 841 945 867
Other income 5.4 11 15 15
Total income 696 852 959 882
Cost of raw materials consumed 436 561 614 552
Changes in inventories of finished goods, work-in-progress 20 -7 -17 0
Employee benefits expense 119 131 172 185
Finance costs 27 25 35 16
Depreciation and amortisation expenses 16 18 20 23
Other expenses 49 58 63 67
Profit before tax [1] 29 66 73 38
Exceptional items – 20 0 0
Profit before tax [1] (after exceptional items) 29 86 73 38
Tax expense 5.7 18 20 10
Profit for the year [1] 23 67 53 28
Margin (%) 3% 8% 5% 3%
ROCE (%) 21% 27% 25% 10%
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Note: Numbers have been rounded-off. 1. Restated numbers.

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Consolidated Balance Sheet

(INR Cr.)

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Assets FY21 FY22 FY23 FY24 Equity and liabilities FY21 FY22 FY23 FY24
Tangible Assets 83 91 106 124 Shareholder's equity 28 89 537 547
Right-of-use / intangible assets 21 25 37 43 Borrowings 81 74 66 53
Financial assets 4 5 5 22
Lease and Other non-current liabilities 24 27 42 49
Other noncurrent assets 25 18 29 33
Total non-current liabilities 105 102 107 103
Total non-current assets 133 139 177 222
Borrowings 214 220 241 111
Inventories 146 233 318 316
Trade payables 128 118 142 97
Trade receivables 182 177 206 187
Lease and Other financial & current liabilities 38 61 162 72
Cash and cash equivalents 34 10 422 107
Total current liabilities 379 399 544 280
Other financial and current assets 18 30 66 99
Total current assets 380 450 1012 709 Total liabilities 484 501 652 383
Total assets 513 589 1189 931 Total equity and liabilities 513 589 1189 931
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Overview of Products and Capabilities Injection Molded Plastics

Plastics Gallery

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We serve our customers from the injection molding plastic business in various industries including aerospace, industrial and power

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Overview of Products and Capabilities End-to-End Box Build

System Integration Gallery

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Overview of Products and Capabilities Printed Circuit Board Assembly

PCB Gallery

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Overview of Products and Capabilities Cable Assembly and Wire Harnesses

Cables & Wire Harnesses

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Overview of Products and Capabilities Sheet Metal Fabrication and Machining

Aerospace Sheet Metal Gallery

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Overview of Products and Capabilities Sheet Metal Fabrication and Machining

Sheet Metal & Machining Gallery

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Overview of Products and Capabilities Magnetics

Magnetics Gallery

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Glossary

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Glossary

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Term Description Term Description
Avalon Avalon Technologies Ltd. IoT Internet of Things
ATS Avalon Technologies and Services M.Com Masters in Commerce
B.Com Bachelors in Commerce MA Masters in Arts
B.Tech Bachelors in Technology MBA Masters in Business Administration
B2B Business to Business MD Managing Director
B2C Business to Customer MS Masters in Science
BA Bachelors in Arts N.A. North America
BGA Ball Grid Array NPD New Product Development
BITS Birla Institute of Technology ODM Original Design Manufacturer
CA California OEM Original Equipment Manufacturer
CAD Computer Aided Design OFS Offer for Sale
CAGR Compounded Annual Growth Rate PAT Profit After Taxes
CEA Consumer Electronics and Appliances PCB Printed Circuit Board
CEO Chief Executive Officer PCBA Printed Circuit Board Analysis
CS Company Secretary PGDM Post Graduate Diploma in Management
EBITDA Earnings Before Interest Tax Depreciation & Amortization PLC Product Life Cycle
EMS Electronic Manufacturing Services QIB Qualified Institutional Buyer
EV Electric Vehicle ROCE Return on Capital Employed
FPT Flying Probe Testing ROE Return on Equity
FY Financial Year RoNW Return on Net Worth
GA Georgia SMT Surface Mounted Technology
HDI High Density Interconnect Sienna Sienna Corporation
IGNOU Indira Gandhi National Open University SPI Solder Paste Inspection
IIM Indian Institute of Management THT Through Hole Technology
IND AS7 Indian Accounting Standard 7 US United States
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AI assistant

Avalon Technologies Limited — Investor Presentation 2024

59680_rns_2024-05-16_79d7d709-b01e-4a29-8bb0-2338c7dd860e.pdf

Sir(s)/Madam,

Sub: -

Investor Presentation on the Audited Standalone and Consolidated Financial Results for the Quarter and Financial Year Ended March 31, 2024

Disclaimer

Table of Contents

Business Highlights

Financial Highlights

Strategy

Business Highlights

Financial Highlights – FY 24

(INR Cr.)

Financial Highlights – Q4 FY 24

(INR Cr.)

Financial Highlights - Q4 FY24

(INR Cr.)

Income Statement

(INR Cr.)

Financial Metrics - I

(INR Cr.)

Financial Metrics - II

Global Customer Relationships

Global Customer Relationships

Our Growth Strategy

Balance Sheet

Cashflow Statement

(INR Cr.)

Avalon Group - Overview

Each of the capabilities have contributed to Avalon becoming one of the leading EMS companies in India

>570 k sq. ft. design & mfg. facilities 65 Production lines Operating 2 shifts

Buffer capacity to ramp up production

Decades of experience in the EMS industry

Kesavan P

Kunhamed Bicha

Bhaskar Srinivasan

Sareday Seshu Kumar

Annexures

Shareholding Pattern

Consolidated Profit and Loss

(INR Cr.)

Consolidated Balance Sheet

(INR Cr.)

Plastics Gallery

PCB Gallery

Aerospace Sheet Metal Gallery

Sheet Metal & Machining Gallery

Magnetics Gallery

Glossary

Glossary

More from Avalon Technologies Limited

Avalon Technologies Limited Investor Presentation 2024