Shares of Kaynes Technology India surged by 6 percent on reporting robust Q2 results, with consolidated net profit soaring 86 percent YoY to Rs 60.2 crore. Revenue from operations also grew 59 percent YoY, reaching Rs 572.1 crore.
As of 9.18 AM, the stock traded 5 percent higher at Rs 5,498. The stock has more than doubled year-to-date, significantly outperforming the Nifty 50, which gained nearly 13 percent during the same period.
The company's EBITDA rose 68 percent YoY to Rs 82.1 crore, with EBITDA margins expanding by 83 basis points to 14.4 percent. Kaynes Tech's order book also increased to Rs 5,422.8 crore in Q2FY25 from Rs 5,038.6 crore in Q1FY25.
"Our orderbook stood at Rs 5,422.8 crore as of September 30, 2024, providing strong revenue visibility for FY25 and beyond. This gives us confidence to sustain our growth and achieve the revenue guidance for the current year," said Ramesh Kunhikannan, Managing Director & Promoter of Kaynes Tech.
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Additionally, net working capital days improved to 108 from 119 in the year-ago period.
Kaynes Technology is an integrated electronics manufacturer, providing end-to-end IoT-enabled solutions across the full range of Electronics System and Design Manufacturing (ESDM) services. With over 30 years of expertise, it delivers conceptual design, process engineering, integrated manufacturing, and lifecycle support for key sectors such as automotive, industrial, aerospace, space, strategic electronics, medical, railways, IoT, and IT.
"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 specific focus on large customers and high growth segments," Kunhikannan said in a press release.
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