The All Ordinaries Index (ASX: XAO) has gained 2.6% in 12 months, with plenty of lifting help from this rocketing ASX All Ords tech stock.
The surging ASX share in question is SKS Technologies Group Ltd (ASX: SKS).
If you're not familiar with SKS, the company designs and installs electrical, audiovisual and communications networking systems into the data centre, government and corporate sectors. And it's been catching sustained tailwinds from the AI revolution.
In afternoon trade on Wednesday, SKS shares were up 6.5% for the day, changing hands for $9.23 apiece.
That sees shares in the ASX All Ords tech stock up a jaw dropping 249.6% since 12 August 2025, when you could have picked up shares for a mere $2.64 each.
Or enough to turn a $10,000 investment into $34,962. In one year!
And, adding a little icing to this very profitable cake, SKS shares trade on a fully franked 0.9% trailing dividend yield.
Here's what's been spurring investor interest.
Image source: Getty Images
Why are SKS shares racing higher?
For some insight into why SKS shares have been skyrocketing, you need look no further than SKS Technologies' 3 August trade update.
The ASX All Ords tech stock reported that it now expects to achieve an unaudited before-tax profit of $39.3 million. That's up 15.6% from the $34 million profit guidance the company reported in February, supported by improved margins.
Unaudited revenue of $347.9 million was up 2.3% from prior guidance of $340 million.
"The significant increase in profitability reflects the continued strength of our business and the disciplined execution of our strategy over recent years," SKS Technologies CEO Matthew Jinks said.
Top broker forecasts more upside for the surging ASX All Ords tech stock
Following the update, Canaccord Genuity released a bullish noted on its outlook for SKS Technologies.
According to the broker:
The key read-through is the margin uplift: FY26 PBT margin of 11.3% is ~130bps above the 10% previously guided, and with a strong 2H margin of 12.3%. The upside was driven overwhelmingly by margin/operating leverage rather than top-line, underscoring the benefits of scale and continuity of work allowing for the conversion of revenue to profit at an increasing rate.
Looking ahead, Canaccord added:
Going into FY27, we expect further scale benefits and see the 2H margin of +12% as maintainable even when accounting for the fact that each additional staff member could be less efficient than their current staff base. We also think SKS realises genuine efficiency benefits as contracts scale, which should limit margins retracting and instead provide upside potential to our estimates over time.
Connecting the dots, Canaccord maintained its buy rating on the ASX All Ords tech stock and increased its price target to $10.30 a share (up from the prior $9.05 a share).
At the recent SKS share price, that represents a further potential upside of more than 11%, not including those upcoming dividends.
