Kaynes Technology Reports Strong Growth in Sales and Profit for H1 FY2024
Kaynes Technology India has recently undergone an adjustment in evaluation, reflecting the company's current standing in the electronics components sector. The firm has demonstrated a strong growth trajectory, with net sales increasing at an annual rate of 48.80%. Additionally, the operating profit has shown a notable rise of 62.36%. For the half-year ending September 2024, Kaynes Technology reported a profit after tax (PAT) of Rs 110.99 crore, which marks a significant growth of 94.86%. The net sales for the same period reached Rs 1,076.10 crore, indicating an increase of 63.53%.
With a market capitalization of Rs 42,301 crore, Kaynes Technology holds a dominant position in its industry, representing 32.51% of the sector. Over the past year, the stock has delivered a return of 122.72%, notably outperforming the BSE 500 index, which returned 8.71%. Despite high valuation metrics, including a price-to-book ratio of 14.7, the stock remains technically positioned within a mildly bullish range.
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