India's Kanohar Electricals surges on strong quarterly results
BUZZ-India's Kanohar Electricals surges on strong quarterly results ** Shares of India's Kanohar Electricals KNOH.NS rise 16.2% to 1,095.30 rupees; highest intraday percentage gain since listing on September 16
** Stock up about 34.1% since September 17** Construction and engineering co says Q1 revenue rose 103.5% Y/Y to 1.37 billion rupees ($14.22 million)
** Co says EBITDA rose 151.3% to 387 million rupees, helped by increase in manufacturing activity and improvement in product mix
** ICICI Direct Research says higher contribution from 400kV transformers is supporting KNOH's margins
** Notes net profit increased 139.5% to 273 million rupees with PAT margin improving to 19.9% from 16.9%** Says co targets FY27 revenue of 9.5 billion rupees and is expanding capacity at its Gangol facility over next 18 months
($1 = 96.3575 Indian rupees)
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))