Kaynes Share Price Drops 18.7%; Posts 30% Revenue Growth in Q3 FY25

Kaynes Technology India Limited reported its audited consolidated financial results for Q3FY25.

Post the announcement, on January 28, 2025, Kaynes share price opened at ₹4,851.00, down from its previous close of ₹5,268.05. At 10:28 AM, the share price of Kaynes was trading at ₹4,282.80, down by 18.70% on the NSE.

Q3 FY25 Financial Highlights

The company achieved revenues of ₹6,612 million for Q3 FY25, an increase from ₹5,093 million during the same period last year. Over the 9-month period ended December 31, 2024, the company recorded a significant revenue growth of 49%, reaching ₹17,373 million compared to the same period in the previous year.

EBITDA margins improved to 14.2% in Q3 FY25, up from 13.7% in the same quarter of the previous year, reflecting better operational efficiency.

PAT margins also grew to 10.1% from 8.9% year-on-year. The company’s order book expanded substantially, rising from ₹37,980 million in Q3 FY24 to ₹60,471 million in Q3 FY25.

Additionally, the net working capital days improved to 107 days as of December 31, 2024, compared to 117 days on December 31, 2023, reflecting enhanced efficiency in working capital management.

Management Commentary

Commenting on the performance, the Managing Director & Promoter of Kaynes Technology India Limited, Mr Ramesh Kunhikannan, stated, “Kaynes achieved an impressive 30% revenue YoY growth in Q3FY25 with healthy profit margins. Our revenues were INR 17,373 mn for the 9-months period ended December 31, 2024 as against INR 11,673 mn for the 9-months period ended December 31, 2023 establishing a growth of 49%. Our orderbook stood at INR 60,471 million as of December 31, 2024, providing strong revenue visibility for FY25 and beyond.”

He further added, “The net working capital cycle has improved to 107 days during the current quarter, compared to Q3 FY24 where it was 117 days. We continue to invest in high potential & high margin segments and expect these to help us sustain the growth momentum and make Kaynes, a differentiated player in this segment. We are consistently adding new capabilities, new geographies and looking to expand our customer base, with specific focus on large customers and high growth segments.”

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