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 ₹ 28,482 Cr.
- Current Price ₹ 4,249
- High / Low ₹ 7,705 / 3,295
- Stock P/E 73.0
- 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.
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 | 3,368 | |
| 328 | 325 | 378 | 611 | 956 | 1,548 | 2,305 | 2,820 | |
| Operating Profit | 36 | 43 | 42 | 95 | 170 | 257 | 416 | 548 |
| OPM % | 10% | 12% | 10% | 13% | 15% | 14% | 15% | 16% |
| 2 | 1 | 4 | 4 | 11 | 56 | 106 | 133 | |
| Interest | 20 | 25 | 25 | 27 | 36 | 56 | 106 | 106 |
| Depreciation | 5 | 8 | 10 | 13 | 19 | 25 | 45 | 70 |
| Profit before tax | 14 | 11 | 11 | 59 | 126 | 232 | 372 | 506 |
| Tax % | 28% | 17% | 10% | 29% | 24% | 21% | 21% | |
| 10 | 9 | 10 | 42 | 95 | 183 | 293 | 389 | |
| EPS in Rs | 14.26 | 13.94 | 13.79 | 9.03 | 16.37 | 28.68 | 45.84 | 58.83 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 49% |
| 3 Years: | 57% |
| TTM: | 42% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 95% |
| 3 Years: | 90% |
| TTM: | 51% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 65% |
| 1 Year: | -28% |
| 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 |
| Free Cash Flow | -18 | 14 | 3 | -21 | -100 | -312 | -1,031 |
| CFO/OP | -3% | 109% | 73% | 24% | 5% | 46% | -4% |
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% |
Insights
In beta| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
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| Employee Strength Number |
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| Order Book INR Million |
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| Net Working Capital Days Days |
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| Number of SMT Lines Number |
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| Number of Manufacturing Facilities Number |
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| Smart Meter Manufacturing Capacity Million Units/Year |
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| Smart Meters Production Volume Million Units |
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Extracted by Screener AI
Documents
Announcements
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Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
9h - Kaynes Technology says it is not a Large Corporate; outstanding borrowing was INR 2.66 crore on March 31, 2026.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
13 Apr - Submitted Regulation 74(5) compliance certificate for quarter ended March 31, 2026.
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Disclosure Under Regulation 30 (5) Of SEBI (LODR) 2015
6 Apr - Kaynes updated Regulation 30(5) KMP contact details on April 6, 2026.
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Disclosure Under Regulation 30 Of SEBI (LODR) Regulations 2015
31 Mar - Prime Minister Narendra Modi inaugurated Kaynes Semicon subsidiary's Sanand GIDC plant on March 31, 2026.
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Disclosure Under Regulation 30 Of SEBI (LODR) Regulation, 2015
28 Mar - SEBI settlement (Mar 27, 2026): MD Ramesh Kunhikannan fined Rs.23,42,600, paid personally, insider trading.
Annual reports
Concalls
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Feb 2026Transcript PPT REC
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Dec 2025TranscriptPPT
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Nov 2025Transcript PPT REC
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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 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 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]