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 ₹ 44,013 Cr.
- Current Price ₹ 6,573
- High / Low ₹ 7,825 / 3,825
- Stock P/E 139
- Book Value ₹ 444
- Dividend Yield 0.00 %
- ROCE 14.3 %
- ROE 10.7 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 95.2% CAGR over last 5 years
Cons
- Stock is trading at 14.8 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -4.23%
- Company has a low return on equity of 11.3% over last 3 years.
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|
368 | 421 | 706 | 1,126 | 1,805 | 2,722 | 2,891 | |
325 | 379 | 611 | 956 | 1,548 | 2,305 | 2,434 | |
Operating Profit | 43 | 42 | 95 | 170 | 257 | 416 | 457 |
OPM % | 12% | 10% | 13% | 15% | 14% | 15% | 16% |
1 | 4 | 4 | 11 | 56 | 106 | 106 | |
Interest | 25 | 25 | 27 | 36 | 56 | 106 | 107 |
Depreciation | 8 | 10 | 13 | 19 | 25 | 45 | 52 |
Profit before tax | 11 | 11 | 59 | 126 | 232 | 372 | 404 |
Tax % | 17% | 10% | 29% | 24% | 21% | 21% | |
9 | 10 | 42 | 95 | 183 | 293 | 317 | |
EPS in Rs | 13.94 | 14.31 | 9.03 | 16.37 | 28.68 | 45.84 | 49.08 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 49% |
3 Years: | 57% |
TTM: | 44% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 95% |
3 Years: | 90% |
TTM: | 52% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 41% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 12% |
3 Years: | 11% |
Last Year: | 11% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
Equity Capital | 7 | 7 | 46 | 58 | 64 | 64 |
Reserves | 96 | 131 | 156 | 901 | 2,423 | 2,776 |
153 | 141 | 189 | 155 | 323 | 903 | |
122 | 141 | 231 | 304 | 456 | 898 | |
Total Liabilities | 378 | 419 | 622 | 1,418 | 3,265 | 4,641 |
66 | 72 | 113 | 132 | 319 | 845 | |
CWIP | 12 | 13 | 8 | 29 | 105 | 391 |
Investments | 2 | 2 | 2 | 3 | 132 | 132 |
299 | 333 | 499 | 1,254 | 2,709 | 3,273 | |
Total Assets | 378 | 419 | 622 | 1,418 | 3,265 | 4,641 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
45 | 26 | 21 | -42 | 88 | -82 | |
-10 | -24 | -45 | -494 | -1,523 | -355 | |
-35 | 1 | 27 | 554 | 1,429 | 465 | |
Net Cash Flow | -0 | 2 | 4 | 19 | -7 | 28 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
Debtor Days | 93 | 106 | 102 | 74 | 72 | 77 |
Inventory Days | 228 | 209 | 167 | 191 | 150 | 156 |
Days Payable | 139 | 122 | 121 | 103 | 99 | 131 |
Cash Conversion Cycle | 182 | 193 | 148 | 162 | 123 | 102 |
Working Capital Days | 32 | 50 | 53 | 107 | 66 | -7 |
ROCE % | 13% | 26% | 22% | 15% | 14% |
Documents
Announcements
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Agreement
21h - KSPL issued 27,778 CCPS to UST on Sep 1, 2025; up to 10% dilution; 5% immediate conversion.
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Announcement under Regulation 30 (LODR)-Change in Management
21h - Govind S Menokee resigned as Head-Information Technology effective close of August 30, 2025.
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Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
25 Aug - Motilal Oswal schemes bought 225,015 shares on July 3, 2025, raising stake to 5.0285% (33,66,952).
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Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
21 Aug - Motilal Oswal MF acquired 225,015 shares (0.3361%), raising stake in Kaynes to 5.0285% (acq. July 2, 2024).
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Announcement under Regulation 30 (LODR)-Newspaper Publication
20 Aug - Newspaper Publication of 17th AGM notice and E-Voting details
Annual reports
Concalls
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT REC
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Oct 2024TranscriptPPTREC
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Jul 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024TranscriptPPT
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Feb 2024Transcript PPT REC
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Nov 2023Transcript PPT
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Oct 2023TranscriptNotesPPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT REC
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Mar 2023TranscriptNotesPPT
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Feb 2023Transcript PPT
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Dec 2022TranscriptNotesPPT
Offerings
The company is a prominent player in integrated electronics manufacturing. It offers end-to-end and IoT-enabled ESDM solutions spanning conceptual design, process engineering, integrated manufacturing, and life-cycle support. It has also ventured into semiconductor assembly and testing (OSAT) and high-density interconnect PCBs (HDI PCBs). Its offerings cater to diverse industries like automotive, industrial, aerospace, defense, outer space, nuclear, medical, railways, IoT, etc. [1]