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ICICI Direct's IPO Report
Avalon Technologies Ltd. is an integrated electronic manufacturing services company with end-to-end operations in delivering box build solutions.
The company's capabilities include:
printed circuit board design and assembly,
cable assembly and wire harnesses,
sheet metal fabrication and machining,
magnetics,
injection moulded plastics and
end-to-end box build of electronic systems.
Avalon's products find usage in sectors like clean energy, mobility, industrials, communication, medical and others. Consolidated revenues grew at a compound annual growth rate of ~14% over FY20-22.
Key triggers/highlights:
India's EMS industry is likely to grow at a CAGR of 32.3% from Rs 1,469 billion in FY22 to Rs 4,502 billion in FY26. The EMS market in North America is expected to grow at a CAGR of 4.8% from $91 billion in CY21 to $114 billion in CY26.
Vertically integrated business model to help gain wallet share of customers and enhance market share.
Manufacturing facilities in the U.S. give a competitive edge.
Caters to high growth industry verticals such as clean energy.
Avalon has long standing relations with its customers.
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