Kaynes Technology India Ltd

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

Kaynes Technology India Ltd

₹ 3,092 -0.85%
19 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 ₹ 20,724 Cr.
  • Current Price ₹ 3,092
  • High / Low ₹ 7,705 / 3,071
  • Stock P/E 56.7
  • Book Value ₹ 708
  • Dividend Yield 0.00 %
  • ROCE 13.2 %
  • ROE 9.64 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 108% CAGR over last 5 years

Cons

  • Stock is trading at 4.36 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 10.2% over last 3 years.
  • Company has high debtors of 154 days.
  • Promoter holding has decreased over last 3 years: -10.1%
  • Working capital days have increased from 63.8 days to 133 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

Consolidated Figures in Rs. Crores / View Standalone

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
365 297 361 509 637 504 572 661 984 673 906 804 1,243
305 257 312 439 542 437 490 567 817 560 758 685 1,049
Operating Profit 59 40 49 70 95 67 82 94 168 113 148 119 194
OPM % 16% 14% 14% 14% 15% 13% 14% 14% 17% 17% 16% 15% 16%
7 8 9 9 29 28 34 25 20 27 43 42 42
Interest 8 11 12 15 15 23 22 27 29 28 23 25 41
Depreciation 5 5 7 6 7 8 9 11 17 16 17 20 54
Profit before tax 54 32 39 58 102 64 85 81 142 96 152 116 140
Tax % 23% 23% 18% 23% 20% 21% 29% 18% 18% 22% 20% 34% 35%
41 25 32 45 81 51 60 66 116 75 121 77 91
EPS in Rs 7.10 4.24 5.56 7.07 12.71 7.94 9.41 10.38 18.15 11.14 18.11 11.43 13.61
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
364 368 420 706 1,126 1,805 2,722 3,626
328 325 378 611 956 1,548 2,305 3,052
Operating Profit 36 43 42 95 170 257 416 574
OPM % 10% 12% 10% 13% 15% 14% 15% 16%
2 1 4 4 11 56 106 154
Interest 20 25 25 27 36 56 106 117
Depreciation 5 8 10 13 19 25 45 107
Profit before tax 14 11 11 59 126 232 372 504
Tax % 28% 17% 10% 29% 24% 21% 21% 28%
10 9 10 42 95 183 293 364
EPS in Rs 14.26 13.94 13.79 9.03 16.37 28.68 45.84 54.28
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 54%
3 Years: 48%
TTM: 33%
Compounded Profit Growth
10 Years: %
5 Years: 108%
3 Years: 57%
TTM: 28%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 38%
1 Year: -49%
Return on Equity
10 Years: %
5 Years: 11%
3 Years: 10%
Last Year: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 7 7 7 46 58 64 64 67
Reserves 86 96 132 156 901 2,423 2,776 4,681
156 153 148 189 155 323 903 913
115 122 132 231 304 456 898 1,233
Total Liabilities 363 378 419 622 1,418 3,265 4,641 6,894
53 66 80 113 132 319 845 1,732
CWIP 2 12 13 8 29 105 391 372
Investments 2 2 2 2 3 132 132 257
306 299 325 499 1,254 2,709 3,273 4,532
Total Assets 363 378 419 622 1,418 3,265 4,641 6,894

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-8 45 28 21 -42 70 -82 -600
-41 -10 -24 -45 -494 -1,505 -355 -917
49 -35 -1 27 554 1,429 465 1,580
Net Cash Flow 0 -0 2 4 19 -7 28 62
Free Cash Flow -18 14 3 -21 -100 -312 -1,031 -1,841
CFO/OP -3% 109% 73% 24% 5% 46% -4% -80%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 123 93 106 102 74 72 77 154
Inventory Days 184 228 209 167 191 150 156 170
Days Payable 136 139 122 121 103 99 131 131
Cash Conversion Cycle 171 182 193 148 162 123 102 193
Working Capital Days 38 32 50 53 107 66 -7 133
ROCE % 14% 13% 25% 22% 15% 14% 13%

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

11 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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