Kaynes Technology India Ltd Share Price – NSE /  BSE

Consumer Durables, Small Cap

Revenue from operations jumped 58.55% YoY to Rs 572.12 crore in the quarter ended 30 September 2024.

Profit before tax (PBT) stood at Rs 84.94 crore, steepy higher than Rs 39.41 crore posted in same quarter last year.

EBITDA (excluding other income) increased 68% to Rs 82.1 crore during the quarter from Rs 48.8 crore posted in corresponding quarter last year. EBITDA margin expanded 83 bps to 14.4% in Q2 FY25 from 13.5% in Q2 FY24.

The order book increased from Rs 5,038.6 million in Q1 FY25 to Rs 5,422.8 million in Q2 FY25.

The company’s net working capital days improved to 108 days as of 30 September 2024 as compared to 119 days on the same date in 2023.

On half year basis the company’s consolidated net profit zoomed 94.9% to Rs 110.99 crore in H1 FY25 as against Rs 56.96 crore posted in H1 FY24. However the company’s revenue from operation increased 63.5% YoY to Rs 1,076.09 crore in H1 FY25.

Ramesh Kunhikannan, Managing Director & Promoter, Kaynes Technology India, said, “Kaynes achieved an impressive 59% revenue YoY growth in Q2FY25 with healthy profit margins. In line with our guidance, our margins both at the EBITDA and PAT levels have improved during the current quarter. Our orderbook stood at Rs 54,228 million as of September 30, 2024, providing strong revenue visibility for FY25 and beyond. This gives us confidence to sustain our growth and achieve the revenue guidance for the current year.

The net working capital cycle has improved to 108 days during the current quarter, compared to Q2FY24. We continue to invest in high potential & high margin segments and expect these to help us sustain the growth momentum and make Kaynes, a differentiated player in this segment. We are consistently adding new capabilities, new geographies and looking to expand our customer base, with specific focus on large customers and high growth segments.”

Kaynes Technology India (KTI) is an end-to-end and Internet of Things (IoT) solutions enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing (ESDM) services.

The scrip rose 0.64% to Rs 5,275.95 on the BSE.

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Net profit of Kaynes Technology India rose 86.35% to Rs 60.21 crore in the quarter ended September 2024 as against Rs 32.31 crore during the previous quarter ended September 2023. Sales rose 58.55% to Rs 572.12 crore in the quarter ended September 2024 as against Rs 360.85 crore during the previous quarter ended September 2023.

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Kaynes Technology India has received an upgrade in credit rating for term loan at IND A-; Stable from India Ratings & Research.

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Kaynes Tech. India will hold a meeting of the Board of Directors of the Company on 29 October 2024.

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