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 ₹ 23,297 Cr.
- Current Price ₹ 3,475
- High / Low ₹ 7,705 / 3,295
- Stock P/E 61.5
- Book Value ₹ 698
- 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
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 11.3% over last 3 years.
- Promoter holding has decreased over last 3 years: -10.1%
* 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 Nifty Smallcap 100 BSE Allcap
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 364 | 368 | 420 | 706 | 1,126 | 1,805 | 2,722 | 3,225 | |
| 328 | 325 | 378 | 611 | 956 | 1,548 | 2,305 | 2,702 | |
| Operating Profit | 36 | 43 | 42 | 95 | 170 | 257 | 416 | 523 |
| OPM % | 10% | 12% | 10% | 13% | 15% | 14% | 15% | 16% |
| 2 | 1 | 4 | 4 | 11 | 56 | 106 | 115 | |
| Interest | 20 | 25 | 25 | 27 | 36 | 56 | 106 | 108 |
| Depreciation | 5 | 8 | 10 | 13 | 19 | 25 | 45 | 60 |
| Profit before tax | 14 | 11 | 11 | 59 | 126 | 232 | 372 | 471 |
| Tax % | 28% | 17% | 10% | 29% | 24% | 21% | 21% | |
| 10 | 9 | 10 | 42 | 95 | 183 | 293 | 379 | |
| EPS in Rs | 14.26 | 13.94 | 13.79 | 9.03 | 16.37 | 28.68 | 45.84 | 57.78 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 49% |
| 3 Years: | 57% |
| TTM: | 45% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 95% |
| 3 Years: | 90% |
| TTM: | 59% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 63% |
| 1 Year: | -27% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 12% |
| 3 Years: | 11% |
| Last Year: | 11% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 7 | 7 | 46 | 58 | 64 | 64 | 67 |
| Reserves | 86 | 96 | 132 | 156 | 901 | 2,423 | 2,776 | 4,613 |
| 156 | 153 | 148 | 189 | 155 | 323 | 903 | 885 | |
| 115 | 122 | 132 | 231 | 304 | 456 | 898 | 1,167 | |
| Total Liabilities | 363 | 378 | 419 | 622 | 1,418 | 3,265 | 4,641 | 6,733 |
| 53 | 66 | 80 | 113 | 132 | 319 | 845 | 1,655 | |
| CWIP | 2 | 12 | 13 | 8 | 29 | 105 | 391 | 402 |
| Investments | 2 | 2 | 2 | 2 | 3 | 132 | 132 | 425 |
| 306 | 299 | 325 | 499 | 1,254 | 2,709 | 3,273 | 4,251 | |
| Total Assets | 363 | 378 | 419 | 622 | 1,418 | 3,265 | 4,641 | 6,733 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| -8 | 45 | 28 | 21 | -42 | 70 | -82 | |
| -41 | -10 | -24 | -45 | -494 | -1,505 | -355 | |
| 49 | -35 | -1 | 27 | 554 | 1,429 | 465 | |
| Net Cash Flow | 0 | -0 | 2 | 4 | 19 | -7 | 28 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 123 | 93 | 106 | 102 | 74 | 72 | 77 |
| Inventory Days | 184 | 228 | 209 | 167 | 191 | 150 | 156 |
| Days Payable | 136 | 139 | 122 | 121 | 103 | 99 | 131 |
| Cash Conversion Cycle | 171 | 182 | 193 | 148 | 162 | 123 | 102 |
| Working Capital Days | 38 | 32 | 50 | 53 | 107 | 66 | -7 |
| ROCE % | 14% | 13% | 25% | 22% | 15% | 14% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2d - Group investor meetings Feb 9–Mar 11, 2026 in Mumbai, USA, Dubai, Hong Kong, Singapore, London.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 2d
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Board Meeting Intimation for Prior Intimation Of Board Meeting
27 Jan - Board meeting on Feb 5, 2026 to approve Q3 and nine-month unaudited results for period ended Dec 31, 2025.
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Announcement under Regulation 30 (LODR)-Credit Rating
24 Jan - India Ratings affirmed and assigned IND A-/Stable/IND A1 for bank facilities totaling INR7,700m on Jan 23, 2026 (additional limits).
- Closure of Trading Window 23 Jan
Annual reports
Concalls
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Dec 2025TranscriptPPT
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Nov 2025Transcript PPT REC
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Nov 2024Transcript PPT REC
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Feb 2024Transcript PPT REC
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Nov 2023Transcript PPT
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Oct 2023TranscriptAI SummaryPPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT REC
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Mar 2023TranscriptAI SummaryPPT
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Feb 2023Transcript PPT
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Dec 2022TranscriptAI SummaryPPT
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]