Kaynes Technologies India shares surge 19% to record high as Q4 profits soar | Business Upturn

Kaynes Technologies India shares surge 19% to record high as Q4 profits soar

Kaynes Technologies India’s shares surge 19% to a record high as Q4 profits jump 108% YoY.

Kaynes Technologies India witnessed a significant surge in its shares, reaching a record high of Rs 1,185, following the company’s strong financial performance in Q4FY23. The consolidated profit after tax (PAT) jumped by 108% YoY to Rs 41.3 crore, while revenue increased by 53% YoY to Rs 364.6 crore. The company’s consolidated EBITDA grew by 48% YoY at Rs 59.40 crore, with an EBITDA margin of 16.8%.

The stock’s remarkable growth has more than doubled since its initial public offering (IPO) price of Rs 587 per share. With a revenue growth of 59% YoY at Rs 1,126 crore in FY23, Kaynes experienced strong demand across various sectors, including automotive, railways, IT/IoT, and consumer verticals. The company’s executable order book stands at over Rs 2,648 crore, providing a strong growth outlook.

Kaynes Technology, a leading integrated electronics manufacturer in India, offers end-to-end solutions and IoT-enabled services. With expertise in Electronics System and Design Manufacturing (ESDM), the company has a three-decade-long track record of delivering conceptual design, process engineering, integrated manufacturing, and life cycle support across multiple industries. In the upcoming fiscal year, Kaynes plans to upgrade its capacity and capabilities to take advantage of the industry tailwinds in the manufacturing sector.