Kaynes Technology India Ltd

Kaynes Tech Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Kaynes Technology India Ltd

₹ 3,272 -1.94%
15 May - close price
kaynestechnology.co.in BSE: 543664 NSE: KAYNES
About

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]

Key Points

Offerings
The company is a leading provider of end-to-end IoT-enabled integrated electronics manufacturing services (IEMS). It offers a full spectrum of services across the entire electronics value chain, spanning conceptual design, process engineering, integrated manufacturing, and life-cycle support. [1] [2] It has also ventured into Smart Metering, Advanced Semiconductor Packaging (OSAT), High-Density Interconnect PCBs, and AI-Powered Railway Safety. [3]

Website BSE NSE
  • Market Cap ₹ 21,915 Cr.
  • Current Price ₹ 3,272
  • High / Low ₹ 7,705 / 3,183
  • Stock P/E 85.6
  • Book Value ₹ 671
  • Dividend Yield 0.00 %
  • ROCE 10.6 %
  • ROE 7.17 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 97.3% CAGR over last 5 years

Cons

  • Stock is trading at 4.87 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 7.47% over last 3 years.
  • Earnings include an other income of Rs.171 Cr.
  • Promoter holding has decreased over last 3 years: -10.1%
  • Working capital days have increased from 267 days to 486 days

* 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

Industrials Capital Goods Industrial Manufacturing Industrial Products

Part of BSE 500 BSE Capital Goods Nifty 500 Nifty500 Shariah Nifty Smallcap 100

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
356 291 292 317 375 350 433 396 737 451 467 522 688
301 251 253 275 323 302 360 347 653 385 404 448 602
Operating Profit 55 39 39 42 52 48 73 49 84 65 63 74 86
OPM % 15% 14% 13% 13% 14% 14% 17% 12% 11% 15% 14% 14% 12%
6 8 10 12 33 36 39 35 26 37 51 44 39
Interest 8 11 12 16 15 19 20 24 25 27 16 16 15
Depreciation 5 5 6 5 6 6 6 7 7 7 8 8 9
Profit before tax 49 32 31 33 65 59 86 53 78 69 90 93 100
Tax % 20% 21% 18% 22% 23% 18% 27% 28% 22% 21% 30% 29% 29%
39 25 25 26 50 49 63 38 60 54 63 66 71
EPS in Rs 6.64 4.33 4.37 4.03 7.78 7.59 9.77 5.94 9.44 8.11 9.38 9.84 10.58
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
369 353 360 393 671 1,086 1,274 1,915 2,128
332 317 319 355 580 920 1,100 1,659 1,840
Operating Profit 37 36 41 38 92 166 173 257 288
OPM % 10% 10% 11% 10% 14% 15% 14% 13% 14%
5 2 2 4 5 12 64 137 171
Interest 15 20 24 24 26 36 56 91 74
Depreciation 5 5 6 10 12 18 21 27 33
Profit before tax 22 13 13 9 58 125 161 275 353
Tax % 34% 29% 15% 1% 29% 24% 21% 24% 28%
15 9 11 9 41 95 126 210 254
EPS in Rs 21.57 13.60 16.68 12.60 8.88 16.30 19.73 32.79 37.91
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 40%
3 Years: 25%
TTM: 11%
Compounded Profit Growth
10 Years: %
5 Years: 97%
3 Years: 39%
TTM: 27%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 49%
1 Year: -48%
Return on Equity
10 Years: %
5 Years: 8%
3 Years: 7%
Last Year: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 7 7 7 7 46 58 64 64 67
Reserves 78 87 98 131 156 900 2,365 2,579 4,433
98 156 142 138 183 145 279 627 320
122 110 113 130 224 297 260 619 659
Total Liabilities 304 360 360 406 609 1,400 2,968 3,889 5,479
45 49 54 67 107 119 199 237 407
CWIP 1 2 9 10 4 26 34 75 6
Investments 3 4 3 3 3 4 174 294 529
255 305 293 326 495 1,251 2,561 3,283 4,538
Total Assets 304 360 360 406 609 1,400 2,968 3,889 5,479

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
9 -5 33 13 15 -52 -78 65 247
-1 -10 -19 -19 -37 -480 -1,327 -322 -1,437
-8 39 -36 8 26 550 1,395 259 1,211
Net Cash Flow 0 24 -22 2 3 18 -10 2 21
Free Cash Flow 8 -15 15 -7 -22 -99 -213 -731 169
CFO/OP 33% 5% 85% 46% 19% -3% -27% 44% 118%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 131 125 94 113 103 74 36 95 62
Inventory Days 123 188 219 208 167 191 189 160 173
Days Payable 140 138 138 120 120 102 76 131 120
Cash Conversion Cycle 113 174 175 201 150 162 150 123 115
Working Capital Days 50 43 35 60 59 119 143 174 486
ROCE % 15% 15% 12% 25% 22% 11% 12% 11%

Insights

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Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Employee Strength
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Order Book
INR Million
Net Working Capital Days
Days
Number of SMT Lines
Number
Number of Manufacturing Facilities
Number
Smart Meter Manufacturing Capacity
Million Units/Year
Smart Meters Production Volume
Million Units

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Shareholding Pattern

Numbers in percentages

7 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
63.57% 63.57% 57.83% 57.83% 57.83% 57.75% 57.75% 57.75% 53.52% 53.46% 53.46% 53.46%
7.96% 9.90% 12.71% 14.19% 14.27% 14.92% 14.84% 11.17% 10.71% 10.71% 8.87% 7.28%
13.12% 15.58% 19.04% 18.36% 17.88% 16.07% 15.04% 16.98% 22.39% 23.66% 16.73% 15.13%
15.35% 10.94% 10.41% 9.61% 10.03% 11.25% 12.37% 14.10% 13.36% 12.17% 20.93% 24.12%
No. of Shareholders 60,58367,58886,15897,4231,12,1761,56,8291,92,2142,30,5332,24,6202,19,4053,66,3333,78,546

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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