Kaynes Tech Shares Surge 15% After Profit Almost Doubles In Q4

Shares of Kaynes Technology rocketed after the company posted strong results for the quarter ended March. The stock went up close to 15% to hit an intraday high of ₹2,950.

What Happened: The company’s revenue for the quarter came in at ₹637.3 crore, up around 75% from the ₹364.6 crore posted in the same quarter last year. The electronics manufacturer’s net profit for the January-March period stood at ₹81.3 crore, almost double from the ₹41.3 crore posted in the same period last year.

The company said that the growth was led by strong demand across all the verticals, “more notably Industrial & EV, Aerospace, Outer-space & Strategic Electronics and Railways segment.”

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EBITDA for the quarter was at ₹95.2 crore, up 60.5% from the ₹59.4 crore posted in the same quarter last year. EBITDA margin was at 14.9%, down from the 16.3% posted in the corresponding quarter of last year. The company’s orderbook is at ₹4,115.2 crore. The company said that the average order inflow per month increased from ₹278.8 crore per month in the December quarter to ₹321.2 crore during the March quarter.

Price Action: Kaynes’ share price was up 13.62% to trade at ₹2,917.10 shortly after market open on Friday.

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