Rs 5,038.60 crore order book & FIIs increase stake: Multibagger electronics manufacturing company’s stock hit back-to-back 52-week high; PAT jumps over 100 per cent
The stock gave multibagger returns of 200 per cent in just 1 year whereas BSE Sensex Index is up by 24 per cent.
On Wednesday, shares of Kaynes Technology India Ltd gained 3.61 per cent and made a fresh 52-week high of Rs 5,385 per share from its previous closing of Rs 5,197.50. At the closing bell, shares of the company were trading at Rs 5,159.55 per share, down 0.73 per cent and the stock’s 52-week low is Rs 1,728.90 per share. In the recent trading sessions, the stock has been hitting back-to-back 52-week highs with heavy volume.
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, 2024. Details below:
Quarterly Results: The net sales increased by 70 per cent to Rs 504 crore, the operating profit increased by 66 per cent to Rs 66.9 crore and the net profit skyrocketed by 106 per cent to Rs 50.8 crore in Q1FY25 compared to Q1FY24.
Order Book: The company's order book surged 22 per cent sequentially to Rs 5,038.60 crore in the first quarter of the financial year 2025, from Rs 4,115.20 crore in the preceding quarter. This robust growth was driven by strong demand across all business segments, with particularly impressive performance in the industrial & EV, aerospace, outer-space & strategic electronics, and railways sectors.
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About Kaynes Technology India Limited
Kaynes Technology, a seasoned Indian ESDM player with over three decades of expertise, offers comprehensive electronics solutions from conceptualization to lifecycle support. Serving diverse sectors including automotive, industrial, aerospace, outer space, strategic electronics, medical, railways, IoT, and IT, the company boasts eight advanced manufacturing facilities capable of producing high-mix, high-value products flexibly. Complementing its manufacturing prowess, Kaynes operates service centres in Cochin and Mumbai, catering to railway, aerospace, defence and industrial clients.
The company has a market cap of Rs 32,979 crore and the current debt of the company is Rs 323 crore. In June 2024, FIIs increased their stake to 14.27 per cent compared to 14.19 per cent in March 2024. The stock gave multibagger returns of 200 per cent in just 1 year whereas BSE Sensex Index is up by 24 per cent. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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