Shares of semiconductor manufacturing company Kaynes Technology India Ltd. fell as much as 20% on Tuesday, January 28, after the management trimmed its FY25 revenue guidance to ₹2,800 crore from ₹3,000 crore earlier.
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The management, in an interaction with CNBC-TV18 said that there were execution delays during the December quarter, owing to which it could not complete orders worth ₹100 crore in the industrials segment. Most of these orders will be executed during this quarter.
For the financial year 2026, the company expects ₹4,500 crore in revenue with margins in excess of 15%.
Kaynes Tech reported a 30% growth in its revenue but it was below what analysts had expected. Net profit increased by 47% from last year but that was courtesy a jump in the company’s other income. At 14.2%, the company’s margins were in-line with expectations of analysts.
Revenue from operations increased 29.8% to ₹661.1 crore against ₹509.2 crore in the corresponding period of the preceding fiscal.
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At the operating level, EBITDA surged 35% to ₹94 crore in the third quarter of this fiscal over ₹69.7 crore in the year-ago period.
Shares of Kaynes Tech are down 20% on Tuesday at ₹4,231.4. The stock is down 40% from its recent peak of ₹7,822.
The company was also in focus recently after it approved raising funds through the QIP route last week.
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(Edited by : Shoma bhattacharjee)
First Published: Jan 27, 2025 7:23 PM IS
