Avalon Technologies saw a significant rise in its market capitalization this week. Starting from a closing price of ₹592.60 on Monday, November 4, 2024, the stock price surged to ₹793.30 by the close on Friday, November 8, 2024. This impressive weekly gain contributed to an estimated increase of approximately ₹1,230 crore in the company’s market cap.
This surge comes on the back of strong financial performance for the recent quarter. Avalon Technologies reported revenue, EBITDA margin, and profit after tax, all surpassing market expectations. Growth in domestic revenue is expected to continue driving the company’s sales.
Key financial highlights include:
- Operating Revenue: ₹275 crore, a 37% increase from ₹201 crore.
- EBITDA: Surged to ₹30.1 crore from ₹12.5 crore, marking a 1.4 times increase.
- EBITDA Margin: Improved to 10.9% from 6.2%, expanding by 470 basis points (against the estimated 6.4%).
- Net Profit: Grew to ₹17.4 crore from ₹7.2 crore, a 1.4 times increase.
The substantial rise in Avalon Technologies’ share price reflects growing investor confidence and positive momentum in the market.
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