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Economic Times
7 hours ago
- Automotive
- Economic Times
Kaynes & Avalon Poised for Strong CAGR Through FY27 on Scale; Motilal Oswal sees over 20% upside each
India's Electronics Manufacturing Services sector is experiencing rapid expansion, fueled by strong orders and increasing global relevance. Government initiatives and rising domestic demand across sectors like EVs and infrastructure are key drivers. Companies are scaling up operations, supported by export growth and improved margins. Kaynes Technologies and Avalon Technologies are highlighted as promising investments, with significant growth projections. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Kaynes Technologies: Buy| Target Rs 7300| LTP Rs 5770| Upside 26% Avalon Technologies: Buy| Target Rs 1030| LTP Rs 828| Upside 24% Tired of too many ads? Remove Ads (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of .) India's Electronics Manufacturing Services (EMS) sector is witnessing rapid growth, supported by a strong order pipeline, ongoing capacity additions, and improving global industry is expanding across segments, backed by rising work content, better execution visibility, and a gradual shift towards higher-margin categories like aerospace, industrial, automotive, and critical inflows remain firm, aided by new client additions, margin-accretive contracts, and prototype-to-production conversions. The cumulative order book for the EMS space (excluding Amber and Dixon) rose 23% YoY to INR 163 billion in FY25, highlighting the sector's robust growth macro drivers are fuelling domestic electronics demand, including higher investments in surveillance, the evolution of electric vehicles and AI applications, and ongoing infrastructure upgrades. Low penetration of consumer electronics and rising income levels also support long-term the increasing involvement of both global and Indian players is strengthening the local value chain. Government-led initiatives such as the Production-Linked Incentive (PLI) and Electronic Component Manufacturing Scheme (ECMS) are further accelerating investments across segments like semiconductors and display companies are scaling up operations to match growing demand. New plant setups, export-oriented units, and investments in areas like OSAT and HDI PCB manufacturing are progressing initiatives cater to rising needs from regions such as Europe, GCC, and North America, while also enabling broader product offerings. Most players saw margin improvements in FY25, a trend likely to continue, boosting earnings summary, the EMS industry is on a strong growth trajectory, supported by favorable demand dynamics, increasing exports, and deepening domestic a supportive policy environment, expanding capacities, and growing importance in global supply chains, the sector is well placed to maintain its growth momentum in the foreseeable is poised for strong FY26 growth with a revenue target of INR45b, driven by higher-margin new orders, operating leverage, and expansion across key verticals such as automotive, aerospace, industrial, and acquisitions have enhanced its global presence & opened new growth opportunities, with future focus on high-margin ODMs & expansion in South Asia & PCB and OSAT units are expected to commercialize by 4QFY26, targeting INR25b revenue in FY27 and INR50b by FY28, with robust margins (~30%/20%). We estimate revenue/EBITDA/PAT CAGR of 57%/61%/70% over FY25–27, driven by scale and margin long-term revenue trajectory is anticipated to be strong, backed by: 1) the addition of new customers in the US and Indian markets, 2) order inflows from the high-growth/high-margin industries, such as clean energy, mobility, and industrials, 3) strategic collaborations and 4) venturing into advanced technology guided for 18-20% revenue growth in FY26, with gross margins of 33-35%. Strategic collaborations (e.g., with Zepco) and capex plans to expand capacity will support future growth. We expect a CAGR of 28%/40%/58% in revenue/EBITDA/adj. PAT over FY25-FY27.(The author is Head – Research, Wealth Management, Motilal Oswal Financial Services Ltd : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Time of India
7 hours ago
- Business
- Time of India
Kaynes & Avalon Poised for Strong CAGR Through FY27 on Scale; Motilal Oswal sees over 20% upside each
India's Electronics Manufacturing Services (EMS) sector is witnessing rapid growth, supported by a strong order pipeline, ongoing capacity additions, and improving global relevance. The industry is expanding across segments, backed by rising work content, better execution visibility, and a gradual shift towards higher-margin categories like aerospace, industrial, automotive, and critical infrastructure. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kampong Krabei: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Undo Order inflows remain firm, aided by new client additions, margin-accretive contracts, and prototype-to-production conversions. The cumulative order book for the EMS space (excluding Amber and Dixon) rose 23% YoY to INR 163 billion in FY25, highlighting the sector's robust growth momentum. Several macro drivers are fuelling domestic electronics demand, including higher investments in surveillance, the evolution of electric vehicles and AI applications, and ongoing infrastructure upgrades. Low penetration of consumer electronics and rising income levels also support long-term growth. Additionally, the increasing involvement of both global and Indian players is strengthening the local value chain. Government-led initiatives such as the Production-Linked Incentive (PLI) and Electronic Component Manufacturing Scheme (ECMS) are further accelerating investments across segments like semiconductors and display modules. Live Events EMS companies are scaling up operations to match growing demand. New plant setups, export-oriented units, and investments in areas like OSAT and HDI PCB manufacturing are progressing well. These initiatives cater to rising needs from regions such as Europe, GCC, and North America, while also enabling broader product offerings. Most players saw margin improvements in FY25, a trend likely to continue, boosting earnings predictability. In summary, the EMS industry is on a strong growth trajectory, supported by favorable demand dynamics, increasing exports, and deepening domestic integration. With a supportive policy environment, expanding capacities, and growing importance in global supply chains, the sector is well placed to maintain its growth momentum in the foreseeable future. Kaynes Technologies: Buy| Target Rs 7300| LTP Rs 5770| Upside 26% It is poised for strong FY26 growth with a revenue target of INR45b, driven by higher-margin new orders, operating leverage, and expansion across key verticals such as automotive, aerospace, industrial, and medical. Recent acquisitions have enhanced its global presence & opened new growth opportunities, with future focus on high-margin ODMs & expansion in South Asia & Europe. HDI PCB and OSAT units are expected to commercialize by 4QFY26, targeting INR25b revenue in FY27 and INR50b by FY28, with robust margins (~30%/20%). We estimate revenue/EBITDA/PAT CAGR of 57%/61%/70% over FY25–27, driven by scale and margin gains. Avalon Technologies: Buy| Target Rs 1030| LTP Rs 828| Upside 24% Company's long-term revenue trajectory is anticipated to be strong, backed by: 1) the addition of new customers in the US and Indian markets, 2) order inflows from the high-growth/high-margin industries, such as clean energy, mobility, and industrials, 3) strategic collaborations and 4) venturing into advanced technology segments. Management guided for 18-20% revenue growth in FY26, with gross margins of 33-35%. Strategic collaborations (e.g., with Zepco) and capex plans to expand capacity will support future growth. We expect a CAGR of 28%/40%/58% in revenue/EBITDA/adj. PAT over FY25-FY27. (The author is Head – Research, Wealth Management, Motilal Oswal Financial Services Ltd ) ( Disclaimer : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
India Gazette
19 hours ago
- Business
- India Gazette
Adani Group soars 82 per cent in brand value, emerges as fastest-growing Indian brand of 2025: Brand Finance
ANI 27 Jun 2025, 20:44 GMT+10 New Delhi [India], June 27 (ANI): The Adani Group has recorded an 82 per cent increase in brand valuation over the past year, the highest growth among India's Top 100 brands, according to Brand Finance's list of Most Valuable Indian Brands 2025. The value of brand Adani has risen from USD 3.55 billion in 2024 to USD 6.46 billion (INR 55,000 crore) in 2025, marking a substantial gain of USD 2.91 billion--a testament to the Group's strategic clarity, resilience and commitment to sustainable growth. Effectively, the increase in value this year is greater than the entire brand valuation reported in 2023. This growth has helped Adani climb to Rank 13 from Rank 16 last year, highlighting its strong momentum among India's top brands. Brand Finance, headquartered in London, is the world's leading brand valuation consultancy. Its annual rankings are based on a comprehensive methodology that includes: Brand Strength Index - measuring consumer perceptions and behavioural insights; Brand Impact - reflected in the applied royalty rate; and Forecast Revenues - estimating the brand's future financial contribution This recognition highlights Adani's growing brand equity and its continued impact across industries and markets. Brand Finance's MD Asia Pacific, Alex Haigh said, 'Adani emerged as the fastest-growing Indian brand in 2025. In our assessment, brand Adani's rise is underpinned by its strong financial performance coupled with high brand equity scores. It is a clear reflection of their investment in integrated infrastructure and the renewables sector.' (ANI)
Entrepreneur
a day ago
- Business
- Entrepreneur
AWL Agri Business To Expand Digital & Rural Reach
Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. AWL Agri Business recorded a strong FY25 with revenues of INR 63,672 crore, marking a 24 per cent year-on-year (YoY) growth. The growth has been on the back of a robust commodity risk management framework that helped navigate raw material price volatility, safeguarding margins and ensuring business sustainability. The company remains focused on reinforcing leadership in edible oils, scaling high-growth food categories, expanding digital and rural reach, and driving value through a lean, integrated model. Net profit stood at NR 1,226 crore, a recovery from the previous year's INR 148 crore. The operating EBITDA stood at nearly INR 2,500 crore. Alternate channels generated over INR 3,600 crores in revenue in FY'25, led by nearly 90 percent YoY growth in Quick Commerce sales in FY '25. "This performance underlines our resilience and ability to navigate volatility in commodity markets, global supply chains, and inflationary pressures," the company said in a statement. The company stands among the top three players in key staples such as edible oils, wheat flour, basmati rice, besan, and soya nuggets, making it amongst the top-ten food FMCG companies of India. "In FY25, we scaled our rural presence to over 50,000 towns—a tenfold increase from FY22—and increased our direct retail coverage to 8.6 lakh outlets. We are on track to achieve our target of 10 lakh outlets by FY27," the statement added. As part of expansion, the FMCG company acquired GD Foods (Tops), boosting portfolio in sauces, pickles, noodles, and expanding footprint in North India with eight new categories. With a focus on premiumization, it launched products to expand kitchen solutions range. "We have commissioned a new 80-acre integrated food park in Gohana, adding 6.27 lakh MT capacity across oils and staples. We also expanded pulses and besan capacity across three plants," a company spokesperson said.
Time of India
a day ago
- Business
- Time of India
Unlock the South: Navigating India's dynamic regional ad markets
South India is no longer just a growth market; it's a driving force in Indian advertising. With an estimated INR 7,500 crore contribution to India's total TV advertising expenditure (AdEx) in 2024, this region is a critical battleground for both national and regional brands. The era of generic campaigns is fading, underscoring a strategic imperative for brands to adopt deeply localized approaches to truly connect with consumers and maximize returns in this powerful segment. Among the four southern states, Tamil Nadu leads with an estimated INR 2,900–3,100 crore in TV AdEx, according to the Madison Advertising Report 2025, underscoring its significant television penetration and brand activity. Following Tamil Nadu, Telugu-speaking markets (Andhra Pradesh & Telangana) contributed INR 1,500–1,700 crore, Karnataka brought in INR 1,400–1,600 crore, while Kerala added INR 900–1,100 crore to the overall adex pie. This substantial collective contribution underscores the need for granular market understanding rather than a generic 'South India' approach. The media landscape in South India is also distinctly regionalised. While national and English content is consumed, it is regional content that truly drives growth. The Madison advertising report 2025 indicates that regional channels grew 9-12 percent in 2024, now accounting for 30 percent of TV AdEx. This highlights the continued strength of regional TV in specific markets, particularly in the South. "Andhra Pradesh and Tamil Nadu exhibit high TV penetration, where mass CPG brands might achieve sufficient reach with minimal digital investment," observes Niti Kumar, COO, Starcom. However, she adds, "markets with electricity challenges might require a stronger digital layer to complement TV reach." A unique aspect of Southern markets is the enduring popularity of certain programs and the pervasive passion for movies, which "must be integrated into media plans, unlike in the North where alternative connection methods exist." This necessitates media plans encompassing "not just general entertainment channels (GEC) and movies, but also local news and music channels specific to each state and language." Menaka Menon, president & managing partner, DDB Mudra highlights the distinct media choices available in each Southern market. "Each of the South markets has one or two lead players across both TV and print," she states. For television, channels like Sun TV, Maa TV, Zee Kannada, and Asianet dominate across four regions. In print, publications such as Thanthi, Eenadu, Vijay Karnataka, and Malayala Manorama hold significant sway. These established players, with their legacy and audience trust, tend to lead the pricing benchmarking. The Southern advertising market presents a unique equilibrium between regional and national brands. While national advertisers often dominate overall adex, local and regional brands hold a strong presence, particularly in print and digital, which allow for greater localisation. "Regional brands command 55-60 percent of total advertising inventory across media channels," reveals Upali Nag, chief strategy officer, Wavemaker India, while "National brands command 40-45 percent of inventory, but command approximately 60 percent of revenue due to premium positioning, targeting etc." She notes a growing trend of national brands creating "region-specific campaigns rather than adapting national campaigns," and regional brands expanding beyond traditional media with "significant YoY growth in digital spending." Kumar points out that the leading players vary by state and medium. "Kerala sees strong local retail advertisers like jewelry brands. In contrast, Tamil Nadu and Andhra Pradesh are crucial markets for national CPG brands, particularly in categories like oral care and food & beverages." Experts shared the cost of advertising also reflects this regional focus, with regional channels generally being more affordable than national ones due to their smaller, language-specific reach. 'The states behave differently, and the situation changes from market to market. TN & Kerala are high on local player contribution, while AP and Karnataka are comparatively lower,' concluded Menon.
