Kaynes Technology India Ltd
Incorporated in 2008, Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturing company. The company provides conceptual design, process engineering, integrated manufacturing, and life-cycle support for major players in the automotive, industrial, aerospace and defense, outer-space, nuclear, medical, railways, Internet of Things ("IoT"), Information Technology ("IT") and other segments.[1]
- Market Cap ₹ 8,771 Cr.
- Current Price ₹ 1,508
- High / Low ₹ 1,532 / 625
- Stock P/E 92.6
- Book Value ₹ 165
- Dividend Yield 0.00 %
- ROCE 21.8 %
- ROE 16.3 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Debtor days have improved from 96.5 to 74.0 days.
Cons
- Stock is trading at 9.24 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company's cost of borrowing seems high
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Consumer Durables Industry: Electronics - Components
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| 353 | 360 | 393 | 671 | 1,087 | |
| 317 | 319 | 355 | 581 | 922 | |
| Operating Profit | 36 | 41 | 38 | 90 | 165 |
| OPM % | 10% | 11% | 10% | 13% | 15% |
| 2 | 2 | 4 | 5 | 12 | |
| Interest | 20 | 24 | 24 | 25 | 34 |
| Depreciation | 5 | 6 | 10 | 12 | 18 |
| Profit before tax | 13 | 13 | 9 | 58 | 125 |
| Tax % | 29% | 15% | 1% | 29% | 24% |
| Net Profit | 9 | 11 | 9 | 41 | 95 |
| EPS in Rs | 13.60 | 16.68 | 12.60 | 8.88 | 16.30 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 45% |
| TTM: | 62% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 103% |
| TTM: | 131% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 17% |
| Last Year: | 16% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| 7 | 7 | 8 | 47 | 58 | |
| Reserves | 87 | 98 | 131 | 156 | 900 |
| 156 | 142 | 137 | 165 | 131 | |
| 110 | 113 | 131 | 243 | 311 | |
| Total Liabilities | 360 | 360 | 406 | 611 | 1,400 |
| 49 | 54 | 67 | 91 | 134 | |
| CWIP | 2 | 9 | 10 | 4 | 11 |
| Investments | 4 | 3 | 3 | 3 | 4 |
| 305 | 293 | 326 | 513 | 1,251 | |
| Total Assets | 360 | 360 | 406 | 611 | 1,400 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| -5 | 33 | 13 | 15 | -52 | |
| -10 | -19 | -19 | -37 | -480 | |
| 39 | -36 | 8 | 26 | 550 | |
| Net Cash Flow | 24 | -22 | 2 | 3 | 18 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| Debtor Days | 125 | 94 | 113 | 103 | 74 |
| Inventory Days | 188 | 219 | 208 | 168 | 193 |
| Days Payable | 138 | 138 | 120 | 122 | 103 |
| Cash Conversion Cycle | 174 | 175 | 201 | 149 | 163 |
| Working Capital Days | 165 | 147 | 172 | 134 | 154 |
| ROCE % | 15% | 12% | 26% | 22% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
18h - Of Schedule of Analyst/Institutional Investor Meetings under the SEBI (LODR) Regulations, 2015
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
18h - Of Schedule of Analyst/Institutional Investor Meetings under the SEBI (LODR) Regulations, 2015
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2d - Of Schedule of Analyst/Institutional Investor Meetings under the SEBI (LODR) Regulations, 2015
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Compliances-Reg.24(A)-Annual Secretarial Compliance
30 May - Listing Obligation and Disclosure Requirements) Regulations, 2015 we are hereby submitting the Annual Secretarial Compliance Report for the Financial Year ended 31st March, 2023.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
27 May - Of Schedule of Analyst/Institutional Investor Meetings under the SEBI (LODR) Regulations, 2015
Concalls
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May 2023Transcript PPT REC
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Mar 2023Transcript PPT
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Jan 2023TranscriptNotesPPT
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Dec 2022TranscriptNotesPPT
Business Area[1] Kaynes Technology India (KTI) is an end-to-end and IoT solutions-enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing (ESDM) services and is among the first Indian companies to offer design-led electronics manufacturing to original equipment manufacturers.
Business verticals:
A) Original Equipment Manufacturers - Turnkey Solutions - Box Build (28.15% of FY22 revenue)[1][2] Co. undertakes Build to Print or Build to Specifications of complex box builds, sub-systems, and products across various industry verticals, and in the case of OEM Printed Circuit Board Assemblies (PCBA) it undertakes turnkey electronics manufacturing services of PCBAs, cable harness, magnetics and plastics ranging from prototyping to product realization including mass manufacturing.