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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

Dear Sir/Madam,

Sub: -

Investor Presentation on the Unaudited Standalone and Consolidated Financial Results for the Quarter Ended December 31, 2023

This is in continuation to our letter dated January 22, 2024, regarding the Board Meeting to be held on February 01, 2024, wherein the Company approved the Statement of Unaudited Financial Results (Standalone and Consolidated) for the quarter ended December 31, 2023.

In this regard, we have provided the following:

Investor Presentation on the Unaudited Standalone and Consolidated Financial Results for the Quarter Ended December 31, 2023.

You are requested to kindly take the above on record.

Yours sincerely,

For AVALON TECHNOLOGIES LIMITED

RAJESH V

Digitally signed by RAJESH V Date: 2024.02.01 20:27:11 +05'30'

Name of the Person : Dr. V. Rajesh Designation : Company Secretary Membership Number: F9213 Date: February 01, 2024

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February 2024 Earnings Presentation Q3 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.

| www.avalontec.com

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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
9M FY24 metrics
16.4% 7.0% 3.2%
Return on Capital EBITDA Margin PAT Margin
Employed
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STRICTLY PRIVATE AND CONFIDENTIAL

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Business Highlights

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Key events
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49% INR 1,275 Cr [# ]
Box-build Revenue Orders Book
INR 843 Cr []
16.4%
High RoCE Long-term Contracts
Business
Highlights
9.8 47%
Asset turn - Revenue from Indian
Capex light model market customers
12%
77%
Manufacturing in India Revenue growth rate in Indian
market
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Major wins in US and India across sectors such as Power, Industrial, Clean energy, Automotive and Rail.

Successfully delivered the first wiper blade assembly sample, marking a key milestone in the Aerospace segment.

# Order Book is executable in 12-14 Months * Long-term contracts are executable in 2-3 years.

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Financial Highlights – Q3 FY24

(INR Cr.)

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Order
Gross Margin EBITDA PAT Book
Q3 FY 24 Q3 FY 24 Q3 FY 24 31 [st] Dec 2023
17
79 YOY% YOY% 6.6 YOY% 1,275 YOY%
Revenue
5.3 % 18.1 % 14.7% 7.1%
Q3 FY 24 84 Q3 FY 24 20 Q3 FY 24 5.7 Q3 FY 24 1,190
214 YOY% Q3 FY 23 37% YOY% Q3 FY 23 7.7% YOY% Q3 FY 23 3.0% YOY% 31 [st] Dec 2022
7.9% 104 bps 96 bps 59 bps
233 36% 8.7% 2.5%
Q3 FY 23 Q3 FY 23 Q3 FY 23 Q3 FY 23
Gross Margin% EBITDA% PAT%
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Financial Highlights – 9M FY24

(INR Cr.)

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Order
Gross Margin EBITDA PAT Book
9MFY24 9MFY24 9MFY24 31 [st] Dec 2023
45
234 YOY% YOY% 21 YOY% 1,275 YOY%
Revenue
4.1 % 33.6% 29.8% 7.1%
9MFY24 244 9MFY24 68 9MFY24 30 9MFY24 1,190
9MFY23 9MFY23 9MFY23
650 YOY% 36.0% YOY% 7.0% YOY% 3.2% YOY% 31 [st] Dec 2022
3.4% 25 bps 317 bps 117 bps
673 36.3% 10.1% 4.3%
9MFY23 9MFY23 9MFY23 9MFY23
Gross Margin% EBITDA% PAT%
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Financial Highlights – Q3 FY24

(INR Cr.)

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Gross
Revenue
Margin %
Q3 FY 24 214 Q3 FY 24 37%
7% 21
Q2 FY 24 201 8% Q2 FY 24 37% Bps 104
Bps
Q3 FY 23 233 Q3 FY 23 36%
EBITDA % PAT %
Q3 FY 24 8% Q3 FY 24 3%
145 50
Bps 96 Bps 59
Q2 FY 24 6% Q2 FY 24 4%
Bps Bps
Q3 FY 23 9% Q3 FY 23 2%
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Income Statement

(INR Cr.)

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Particulars Q3 FY24 Q3 FY23 YoY Change 9M FY24 9M FY23 YoY Change
Revenue from Operations 214 233 -7.9% 650 673 -3.4%
Cost of Goods Sold 135 149 -9.4% 416 429 -3.0%
Gross Margin 79 84 -5.3% 234 244 -4.1%
Gross Margin (%) 37.0% 36.0% 104 bps 36.0% 36.3% -25 bps
Personnel Cost 46 43 5.4% 139 125 11.5%
Other Operating Expenses 17 20 -15.3% 50 51 -2.8%
EBITDA 17 20 -18.1% 45 68 -33.6%
EBITDA (%) 7.7% 8.7% -96 bps 7.0% 10.1% -317 bps
Depreciation 6 5 19.1% 17 14 16.1%
Finance Cost 4 9 -57.6% 12 26 -52.2%
Profit Before Tax (PBT) 9 8 15.9% 28 42 -33.7%
Tax 2 2 19.3% 7 13 -43.0%
Profit After Tax (PAT) 7 6 14.7% 21 30 -29.8%
PAT (%) 3.0% 2.5% 59 bps 3.2% 4.3% 117 bps
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Financial Metrics - I

(INR Cr.)

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27.2%
24.6%
21.3%
16.4%
FY 21 FY 22 FY 23 9M FY24
306
295
294
106
Mar’21 Mar’22 Mar’23 Dec’23
RoCE (%)
Gross Debt
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10.4
9.8
9.4
8.3
FY 21 FY 22 FY 23 9M FY 24
4.0
2.9
2.7
-0.3
FY 21 FY 22 FY 23 9M 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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124
106
89
71
Mar’21 Mar’22 Mar’23 Dec’23
62
43
41
37
Mar’21 Mar’22 Mar’23 Dec’23
Inventory days
Trade Payables days
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96
80
77
68
Mar’21 Mar’22 Mar’23 Dec’23
155
144
122
105
Mar’21 Mar’22 Mar’23 Dec’23
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 – 9M FY24
19% 26% - 27% 14% 14%
Revenue – FY23
25% 21% - 29% 11%
13%
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Global Customer Relationships

Revenue split based on Customer geography

9M FY 2024

INDIA – 47%

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FY 2023
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INDIA – 41%
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US – 53%
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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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STRICTLY PRIVATE AND CONFIDENTIAL

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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 47% 53% 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
| www.avalontec.com
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Customer Presence • Cater to world’s fastest growing EMS 47% 53% 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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IPO Proceeds

(INR Cr.)

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Amount to be utilized as Utilized Amount as on 31 [st] Unutilized Amount as on
Objects of the Issue
per RHP Dec 2023 31 [st ] Dec 2023
Debt repayment 145.0 145.0 0
Working Capital funding 90.0 90.0 0
General Corporate Purposes
64.4 64.6 0
(Less: IPO Expenses)
Total 299.4 299.6 0
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As disclosed in the Prospectus GCP is Rs. 64.4 Cr which is based on Rs. 85.0 Cr less estimated Issue expenses of Rs. 20.6 Crores. The final numbers may vary depending on the actual issue expenses incurred. Based on the actual/incurred issue expenses of Rs. 20.4 Cr. GCP has been revised to Rs. 64.6 Cr. and the balance of Rs. 1.1 Cr has been fully utilized.

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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
49% of revenues in
9M 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
53% 47%
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 P P P P P P P P P o P P P B2B
Dixon Technologies India Ltd. 1993 P P o o o o o o P P o o P B2C
Amber Enterprises India Ltd 1990 P P o P P o o o o P o o P B2B B2C
Elin Electronics Ltd 1969 P P o P o o o o P P o o o B2C
Syrma SGS 1978 P o P P o o P P P P o o P B2B
Technology Ltd
KaynesIndia LtdTechnology -- P P o P P P P o P P P o P B2B B2C
Bharat FIH Ltd -- P P P P o o o o o P P o P B2C
SFO Technologies Pvt Limited 1990 P P o P o P P P P o P o P B2B
VVDN
Technologies Pvt -- P o o o o o P P 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
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Intricate injection insert molding
▪ Ultrasonically welding seals
Assembled with 32 sheet metal child parts
Combined with high temperature alloys
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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Michael Robinson RM Subramanian Chief Operating Officer[2] Chief Financial Officer

Chief Financial Officer

Shamil Bicha Vice President, Business Development

Kesavan P

Vice President, Operations

Several years of experience in operations – PCB and cables division
Responsible for overall manufacturing ▪ Responsible for financial functions of Avalon ▪ Responsible for sales, business development operations in the US Technologies Ltd. and its subsidiaries and marketing functions
Holds a bachelor’s degree in science from Worcester Polytechnic Institute, US
Holds a bachelor’s degree in civil ▪ Holds a bachelors in mechanical engineering ▪ Attended first year of diploma course in engineering from BITS and PGDM from IIM, from University of Madras telecommunication from MEI Polytechnic, Decades of Bangalore ▪ Bengaluru Prior experience: Applied Materials, Inc. experience in the
▪ Prior experience with A.F. Ferguson & Co ▪ Prior experience: Quest Smartech Pvt. Ltd., EMS industry Cairn Energy India Pty. Ltd. and Essar Oil Texmaxo Micro Indo Utama, Sun Fibre Ltd. Optics Pvt. Ltd., MiniCircuits Ltd.
Prior experience: Motorola Inc., Wconect LLC
Co-invented “Battery Identification ▪ Prior experience with A.F. Ferguson & Co Cairn Energy India Pty. Ltd. and Essar Oil
Apparatus” & “Weldless Battery Pack” (both Ltd. US-patented)

Arjun Balakrishnan O J Sathish Vice President, Corporate Vice President[3] Strategy[4]

Responsible for operations of metals, aerospace and plastics division
Head of PCB & Semiconductor engineering[3]
Heads Design & Development division[3]
Holds an MS (engineering) from University of Texas, US and an MBA from Harvard University, Boston, US
Holds Bachelors in Engineering from Annamalai University and PGDM (operations management) from IGNOU
Prior experience: Holm Industries, GE Power Controls India Ltd., Panasonic India Pvt. Ltd.
Prior experience: Alpha-Imager Pvt. Ltd.

Harold Frederick Schilb III Vice President, Business Instrumental in Development[2] Avalon’s growth

Savita R Ganjigatti Vice President, Engineering[3]

Responsible for business development & leads the sales team
Head of PCB design and analysis team[3]
Holds a bachelors in engineering and masters in technology from Visvesvaraya Technology University, Belgaum
Holds bachelors in science (electrical engineering) from Northeastern University, Massachusetts, US and an MBA from Fairleigh Dickinson University, US
Prior experience: Karnataka Telecom Ltd., Fairleigh Dickinson University, US Alpha-Imager Pvt. Ltd. ▪ Prior experience: Dwfritz Automation LLC,
▪ Member of TLP1 of IPC Design, US Celestica Corporation, Electri-Cord Manufacturing Co, IEC Electronics Corp, etc.

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.

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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

(INR Cr.)

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Share Information
(As on December 31, 2023)
6%
FPI
NSE Ticker AVALON
Share Information
BSE Ticker 543896
(As on June 30, 2023)
51% Market Cap (INR Cr) 3,620
Promoters
26% 80.1%
% free-float
Public
Free-float market cap (INR Cr) 2,899
Shares Outstanding 6,56,35,894
17%
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 FY20 FY21 FY22 FY23
Revenues from operations 642 691 841 945
Other income 11.3 5.4 11 14
Total income 653 696 852 959
Cost of raw materials consumed 429 436 561 624
Changes in inventories of finished goods, work-in-progress -18 20 -7 -17
Employee benefits expense 116 119 131 161
Finance costs 45 27 25 35
Depreciation and amortisation expenses 16 16 18 20
Other expenses 50 49 58 65
Profit before tax [1] 15 29 66 73
Exceptional items – – 20 0
Profit before tax [1] (after exceptional items) 15 29 86 73
Tax expense 3 5.7 18 20
Profit for the year [1] 12 23 67 53
Margin (%) 2% 3% 8% 5%
ROE (%) 25% 40% 85% 32%
ROCE (%) 27% 21% 27% 25%
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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 FY20 FY21 FY22 FY23 Equity and liabilities FY20 FY21 FY22 FY23
Tangible Assets 75 83 91 106 Shareholder's equity 3 28 89 537
Right-of-use / intangible assets 27 21 25 37 Borrowings 50 81 74 66
Financial assets 7 4 5 5
Lease and Other non-current liabilities 30 24 27 42
Other noncurrent assets 29 25 18 19
Total non-current liabilities 79 105 102 107
Total non-current assets 137 133 139 167
Borrowings 199 214 220 241
Inventories 155 146 233 318
Trade payables 136 128 118 142
Trade receivables 114 182 177 206
Lease and Other financial & current liabilities 32 38 61 154
Cash and cash equivalents 27 34 10 422
Total current liabilities 367 379 399 536
Other financial and current assets 17 18 30 67
Total current assets 313 380 450 1014 Total liabilities 446 484 501 643
Total assets 450 513 589 1180 Total equity and liabilities 450 513 589 1180
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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_2024-02-01_11a925d5-ae7c-4d84-bb0d-3ff7f759590c.pdf

Dear Sir/Madam,

Sub: -

Investor Presentation on the Unaudited Standalone and Consolidated Financial Results for the Quarter Ended December 31, 2023

For AVALON TECHNOLOGIES LIMITED

RAJESH V

Disclaimer

Table of Contents

Business Highlights

Financial Highlights

Strategy

Company Overview

Business Highlights

Financial Highlights – Q3 FY24

Financial Highlights – 9M FY24

(INR Cr.)

Financial Highlights – Q3 FY24

(INR Cr.)

Income Statement

(INR Cr.)

Financial Metrics - I

(INR Cr.)

Financial Metrics - II

Global Customer Relationships

Global Customer Relationships

Our Growth Strategy

IPO Proceeds

(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

Michael Robinson RM Subramanian Chief Operating Officer[2] Chief Financial Officer

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

Overview of Products and Capabilities

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