Kaynes Tech Q2 Results: Net profit doubles from last year; Margins, order book expand

Kaynes Technology India Ltd.

reported its earnings for the September quarter after market hours on Tuesday, November 4.

The company's net profit for the quarter under review increased 102% to ₹121.4 crore from ₹60.2 crore in the same period last year.

Its revenue was up 58.4% at ₹906.2 crore from ₹572 crore in the second quarter last fiscal.

Kaynes Tech's earnings before interest, tax, depreciation and amortisation (EBITDA) increased 80.6% to ₹148 crore in the September quarter from ₹82 crore last year.

Its margin expanded to 16.3% from 14.3% in the year-ago period.

The company's order book grew to ₹8,099.4 crore in the September quarter compared to ₹5,422.8 crore in the same period last year.

The company's executive vice-chairman and promoter Ramesh Kunhikannan said building on the firm's strong financial and operational performance, it is deepening its capabilities across the technology value chain — from semiconductors and HDI PCBs to system integration and advanced manufacturing.

"We recently launched India's first manufactured IPM multi-chip module through our wholly-owned subsidiary - Kaynes Semicon Private Ltd. Additionally, our new initiatives in the AR/VR, space-tech, and strategic electronics segment coupled with expansion of our global footprint, are laying the foundation for Kaynes' future growth, positioning it at the intersection of innovation and industrial transformation," he added.

Shares of Kaynes Tech ended the previous session 0.4% up at ₹6,678 apiece. The stock has declined 10.6% in the past month.