Rs 3,000 crore order book: This multibagger electronic components company reports a 145 per cent jump in net profit!
The stock gave multibagger returns of 117 per cent in just 6 months and over 140 per cent in 1 year.
Kaynes Technology Ltd, a leading end-to-end and IoT solutions-enabled integrated electronics manufacturing company; announced its stellar Quarterly Results and robust order book ended June 30, 2023. Details below:
Quarterly Results: The net sales increased by 49.14 per cent to Rs 297.18 crore, the operating profit increased by 91.40 per cent to Rs 48.38 crore and the net profit skyrocketed by 145.36 per cent to Rs 24.65 crore in QiFY24 compared to Q1FY23.
Order Book: The company's order book stood at Rs 2,648.20 crore as of March 31, 2023. As of June 30, 2023, the order book has grown to Rs 3,000.40 crore. This represents a growth of 13.30 per cent over the three-month period.
According to the annual results, the net sales increased by 59.45 per cent to Rs 1,126.11 crore and net profit skyrocketed by 128.42 per cent to Rs 95.20 crore in FY23 compared to FY22. The company has a market cap of over Rs 10,000 crore and the current debt of the company is Rs 155 crore.
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On Tuesday, shares of Kaynes Technology jumped 1 per cent to an intraday high of Rs 1,827.80 per share. At the closing bell, shares of the company were trading at Rs 1,735.85 per share, down 4.15 per cent with a spurt in volume by more than 2.15 times on BSE.
The stock gave multibagger returns of 117 per cent in just 6 months and over 140 per cent in 1 year. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.