Kingfa jumps 6 per cent on trial production at Chakan

Kingfa Science & Technology (India) has started trial production at its new factory located at Chakan Industrial Area, District-Pune. The said trial production of the plant commenced was as per the management guidance stated earlier.

Looking at the recently concluded quarter Q1FY20, revenue came in at Rs. 183.85 crore as against Rs. 169.7 crore in the corresponding quarter last year, registering 8.3 per cent yoy increase. EBITDA for the quarter grew by 605.6 per cent yoy to Rs. 17.57 crore as against Rs. 2.5 crore in the corresponding quarter last year, with a corresponding margin expansion of 809 bps. EBITDA margin for the quarter stood at 9.6 per cent. PAT for the quarter came in at Rs. 10.5 crore as against Rs. 0.76 crore in the corresponding quarter last year, yoy increase of 1281.6 per cent.

Kingfa Science & Technology is a leading manufacturer and supplier of high quality reinforced polypropylene compounds, thermoplastics elastomers and fibre reinforced composites. Moreover, it is diversifying into inorganic routes including electricals (LED TV) and power tool appliances (LED lamps and safety provider to electricity flame. Furthermore, most major OEMs use material solutions manufactured by the company.

Cheering the news, the stock of Kingfa Science & Technology gained nearly 6 per cent and made an intraday high of Rs. 609.85 on the BSE. At 10:38 hours, the stock was trading at Rs. 600 on the BSE.