Q3 Results: Kaynes Tech shares plunge 18% despite strong Q3 results
Kaynes Technology India shares tumbled 18.22 per cent to ₹4,308.40 on the NSE today at 10.10 am, wiping out ₹959.65 per share in value, despite reporting robust third-quarter results yesterday.
The electronic manufacturing services company announced a 30 per cent year-on-year revenue growth to ₹661.2 crore for Q3 FY25, with profit after tax (PAT) rising 47 per cent to ₹66.5 crore. The company’s EBITDA margins improved to 14.2 per cent from 13.7 per cent in the same quarter last year.
Kaynes’ order book showed significant growth, expanding from ₹3,798 crore in Q3 FY24 to ₹6,047 crore in Q3 FY25. The company also reported improved working capital efficiency, with net working capital days reducing to 107 from 117 days year-on-year.
However, the management trimmed its revenue guidance for FY25 to ₹2,800 crore, down from the earlier forecast of ₹3,000 crore. The downward revision was attributed to delays in executing select industrial segment orders worth ₹100 crore during the December quarter, which are now expected to be completed in the March quarter.
Earlier this month, the company’s board approved a ₹1,600 crore fundraiser through the Qualified Institutional Placement (QIP) route.
Managing Director Ramesh Kunhikannan highlighted the company’s nine-month performance, noting revenues of ₹1,737.3 crore for the period ended December 31, 2024, representing a 49 per cent growth compared to the previous year.
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Kaynes Technology specializes in electronics system design and manufacturing services, serving various sectors including automotive, industrial, aerospace, and IoT solutions through its 16 manufacturing facilities.
