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Kaynes Technology witnessed a notable surge of 16.11%, reaching ₹2,989 per share, in today's early morning trading session following the release of its Q4 earnings report, which exceeded analyst expectations.
Post market hours on Thursday, the company released its Q4 and full fiscal year (FY24) performance, posting a significant 74.8% year-on-year increase in Q4 revenue to ₹637 crore. This growth was primarily driven by robust demand across all verticals, notably industrial & EV, aerospace, outer space & strategic electronics, and railway segments.
The company's Q4 EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) improved by 60.5% year-on-year to ₹95 crore. Notably, the Q4 profit after tax surged to ₹81 crore compared to ₹41 crore in Q4 FY23, marking an impressive increase of 96.8%. The order book also saw a substantial rise from ₹3,789 crore in Q3 FY24 to ₹4,115 crore in Q4 FY24.
Furthermore, the average order inflow per month increased from ₹278 crore in Q3 FY24 to ₹321 crore in Q4 FY24. For the full fiscal year (FY24), the company's revenue stood at ₹1,804 crore, marking a significant 60.3% year-on-year increase, while the profit after tax grew by 92.5% year-on-year to ₹183 crore, according to company's earnings report.
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