 "Kaynes Technology gains 7% after Q2FY25 results; PAT up 86%, rev up 59%")
Kaynes Technology shares rose 6.7 per cent on Wednesday and registered an intraday high of Rs 5,597 per share on BSE. The buying interest in the stock came after Kaynes Technology posted strong Q2 results.
However, the stock pared gains and around 10:10 AM, was up 1.98 per cent at Rs 5,346 per share. In comparison, the BSE Sensex was down 0.33 per cent at 80,107.49. The market capitalisation of the company stood at Rs 34,220.16 crore.
Kaynes Technology, on Tuesday, after market hours, reported a consolidated net profit of Rs 60.208 crore as compared to Rs 32.309 crore a year ago which implies a 86.3 per cent rise.
The revenue of the company for the quarter under review stood at Rs 572.116 crore, up 58.55 per cent, as compared to Rs 360.84 crore a year ago.
The company's total income increased 63.7 per cent to Rs 605.66 crore in the quarter under review as compared to Rs 369.8 crore.
The company's Earnings before interest, tax, depreciation and amortisation (Ebitda) stood at Rs 82.1 crore as compared to Rs 48.8 crore a year ago, up 68 per cent, as per its filing.
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Its Ebitda margin stood at 14.4 per cent as compared to 13.5 per cent in the corresponding quarter of the previous year.
As per the filing, Kaynes Technology's order book grew from Rs 5038.6 crore in Q1FY25 to Rs 5422.79 crore in Q2FY25
Its net working capital days improved to 108 as of September 30, 2024 in comparison to 119 days as of September 30, 2023.
"We continue to invest in high potential & high margin segments and expect these to help us sustain the growth momentum and make Kaynes, a differentiated player in this segment. We are consistently adding new capabilities, new geographies and looking to expand our customer base, with a specific focus on large customers and high growth segments," said Ramesh Kunhikannan, managing director & promoter, Kaynes Technology India.
Kaynes Technology India specialise in providing end-to-end solutions in electronic manufacturing services (EMS), catering to various industries, including automotive, industrial, medical, and consumer electronics.
Founded in 2006, the company focuses on areas like design, prototyping, manufacturing, and supply chain management. They are known for their commitment to quality and innovation, leveraging advanced technologies to meet the evolving needs of their clients.
In the past one year, Kaynes Technology shares have gained 120 per cent against Sensex's rise of 25 per cent.