Shares of this electronics manufacturing company jumped up to 2 percent in Wednesday’s trading session after recording an increase of 80 percent YoY. The shares have delivered a multibagger return of 263.18 percent to its investors in one year.
With a market capitalisation of Rs. 17,942 crores, the shares of Kaynes Technology India Ltd started Wednesday’s trading session on a higher note at Rs. 2,985 compared to its previous close of Rs. 2,827.95. During the trading session, the shares hit a high of Rs. 2,990, gaining around 2 percent and are currently trading at Rs. 2,813 apiece.
Such a positive movement in the share price was observed after the company announced October-December results. For the third quarter, the company recorded an increase of 41 percent in revenue from Rs. 361 crores during Q2FY24 to Rs. 509 crores in Q3FY24. In addition, the net profits improved by 41 percent from rs. 32 crores to Rs. 45 crores during the same timeframe.
Comparing these metrics on a YoY basis, the revenue zoomed by 76 percent from Rs. 289 crores during Q3FY23 to Rs.509 crores in Q3FY24. On the other hand, the net profits magnified by 80 percent from rs. 25 crores to Rs. 45 crores during the same timeframe.
The company gets 85 percent of its revenue from India and the remaining 15 percent of its revenue comes from North America, Europe, South East Asia, and others.
Furthermore, the company is focusing on emerging segments including Electric Vehicles (EV) (both four-wheelers and two-wheelers), EV components and EV charging infrastructure, Railways train collision avoidance systems, High-performance computing servers & hardware, Aerospace or Outerspace electronics.
Moreover, the company plans to enhance operational efficiency through backward integration by manufacturing in-house components like bare printed circuit boards and in the design of integrated circuits, chip sets and system on chips to leverage complete backward integration for supporting component development and also intends to pursue inorganic growth through strategic acquisitions, investments, and alliances to expand capabilities and enter new geographies.
Headquartered in Karnataka, Kaynes Technology was incorporated in 2008. The company is one the leading end-to-end and IoT solutions-enabled integrated electronics manufacturing company. The company provides conceptual design, process engineering, integrated manufacturing, and life-cycle support for major players in the automotive, industrial, aerospace and defence, outer space, nuclear, medical, and railways.
Written By Vaibhav Patil
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