Robust revenue growth, aided by strong order flows

Company
11 Mar 2024
5 Min read 
  • Kaynes Technologies reported strong revenue growth of 76% YoY in 3QFY24.
  •  Margins were impacted by higher initial costs, but expected to recover in 4QFY24.
  •  The company has strong order book growth and a higher share of Box Build and PCBA.
  •  The management reaffirmed its revenue guidance for FY24 and expects EBITDA margins to remain at par with FY23 levels.
  •  The company has won major orders in the aerospace, industrial, and EV segments.
  •  Kaynes Technologies has formed collaborations for manufacturing and technology partnerships.
  •  The company is investing in expanding its capacities and is on schedule for its projects.
  •  Valuation: Maintain BUY rating with a TP of INR3,300.
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