Kaynes Technologies shares rise 19% to turn multibagger after strong Q4 results
Kaynes Technologies was listed in November 2022 and the stock jumped 102 per cent from its issue price, making it a multibagger in just six months.
- May 17, 2023,
- Updated May 17, 2023 12:34 PM IST
Shares of Kaynes Technologies hit a record high during the trading session on Wednesday after the company announced a robust performance for the period ended on March 31, 2023. The stock, which was listed in November 2022, turned multibagger from issue price. Kaynes Technologies reported a 108 per cent year-on-year (YoY) jump in its consolidated profit after tax (PAT) at Rs 41.28 crore in Q4FY23, which was Rs 19.82 crore in the same quarter previous year. On a sequential basis (QoQ), its PAT rose more than 80 per cent from Rs 22.87 crore in the December 2022 quarter. The company reported 53 per cent rise in the revenue from operations at Rs 364.59 crore in the March 22023 quarter, compared to a revenue from operations at Rs 238.47 crore in the year ago period. The company's topline was seen at Rs 289.1 crore in the preceding quarter. Shares of Kaynes Technologies surged about 19 per cent to Rs 1,185 on Wednesday, hitting its new record highs and commanding a total market capitalization of about Rs 6,700 crore. However, the scrip was trading at Rs 1,130.65 at 11.55 am, while it settled at Rs 997.05 on Tuesday. Kaynes Technologies was listed in November 2022, when the company launched its initial public offering (IPO) to raise Rs 857.82 crore by selling its shares for Rs 587 apiece. The stock jumped 102 per cent from its issue price, making it a multibagger in just six months. For the entire year ended on March 31, 2023, Kaynes Technologies consolidated net profit surged 128 per cent to Rs 95.2 crore from Rs 41.67 crore in the previous financial year. Its revenue from operations increased about 60 per cent to Rs 1,126.11 crore during the period under review. Incorporated in 2008, Kaynes Technology is an 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 and various other segments.
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Shares of Kaynes Technologies hit a record high during the trading session on Wednesday after the company announced a robust performance for the period ended on March 31, 2023. The stock, which was listed in November 2022, turned multibagger from issue price. Kaynes Technologies reported a 108 per cent year-on-year (YoY) jump in its consolidated profit after tax (PAT) at Rs 41.28 crore in Q4FY23, which was Rs 19.82 crore in the same quarter previous year. On a sequential basis (QoQ), its PAT rose more than 80 per cent from Rs 22.87 crore in the December 2022 quarter. The company reported 53 per cent rise in the revenue from operations at Rs 364.59 crore in the March 22023 quarter, compared to a revenue from operations at Rs 238.47 crore in the year ago period. The company's topline was seen at Rs 289.1 crore in the preceding quarter. Shares of Kaynes Technologies surged about 19 per cent to Rs 1,185 on Wednesday, hitting its new record highs and commanding a total market capitalization of about Rs 6,700 crore. However, the scrip was trading at Rs 1,130.65 at 11.55 am, while it settled at Rs 997.05 on Tuesday. Kaynes Technologies was listed in November 2022, when the company launched its initial public offering (IPO) to raise Rs 857.82 crore by selling its shares for Rs 587 apiece. The stock jumped 102 per cent from its issue price, making it a multibagger in just six months. For the entire year ended on March 31, 2023, Kaynes Technologies consolidated net profit surged 128 per cent to Rs 95.2 crore from Rs 41.67 crore in the previous financial year. Its revenue from operations increased about 60 per cent to Rs 1,126.11 crore during the period under review. Incorporated in 2008, Kaynes Technology is an 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 and various other segments.
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