On the back of six times jump in volumes, Kaynes Technology India is right there among the top three gainers. The stock opened over 16% high at Rs.2989.95, its intraday high and is currently trading at Rs.2900. Its 52-week high is at Rs.3248.

The market is obviously thrilled with the company’s earnings for Q4FY24. The company, which is an end-to-end and Internet of Things (IoT) solutions-enabled integrated electronics manufacturer, posted a 75% (YoY) jump in revenue at Rs.637 crore. EBITDA was up 60% at Rs.95 crore though margins were down by 134 bps at 14.9%. The company ended the quarter with a PAT at Rs.81 crore, up 97%.

The company said that its orderbook surged 9% (YoY) to Rs.4115 crore. The average order inflow per month increased from Rs.279 crore/month to Rs.321 crore (QoQ). Its growth was led by good demand across all the verticals, more notably Industrial & EV, Aerospace, Outer-space & Strategic Electronics and Railways segment.

The company has eight production plants in Karnataka, Haryana, Himachal Pradesh, Tamil Nadu and Uttarakhand.

Kaynes had got listed on the bourses in Nov’22, listing at Rs.775 v/s IPO price of Rs.587.