Kaynes Technology Stock Soars 165%: Aerospace Sector Surges – Find Out Why | Management Unveils Strategic Roadmap

Kaynes Technology’s shares soared by 165% on Friday, reaching the upper circuit after the company reported robust earnings for the fourth quarter of fiscal year 2024. The smallcap company nearly doubled its profit after tax (PAT) for Q4 FY24 compared to the same period in FY23.

The stock opened with a gap up at Rs 2,816.40 and quickly surged to hit the upper circuit at Rs 3,080.80. Investors have seen a remarkable return of over 165% in the past year, making Kaynes Technology a standout performer in the market.

Jairam Sampath, the whole-time Director & CFO, and Ramesh Kannan, the MD & Promoter of Kaynes Technology, shared their insights and future plans with ET NOW viewers. They outlined their guidance for FY25, including plans to increase margins by more than 100 basis points and achieve a 60% revenue growth target.

The company also revealed that they have a substantial order book for the Aerospace segment and anticipate strong performance in the Outerspace segment with significant export opportunities. They project an order pipeline of Rs 2,000-3,000 crore in the coming three quarters and expect revenues to reach Rs 3,000-4,000 crore by FY30.

Kaynes Technology’s Q4 results for 2024 showed impressive growth, with net profit surging by 96.8% year-on-year to Rs 813 crore. Revenue from operations rose by 74.8% to Rs 637.3 crore, driven by strong demand across various verticals. The company’s order book also expanded to Rs 4,115 crore in FY24, indicating a positive outlook for future growth.