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Kaynes Technology India

KAYNES NSE
₹3,330.00 +91.00 (+2.81%)
P/E
64.57
View as Markdown
MCP
Close 4 Nov 2026 ₹3,330.00 −3,028.50 −47.6% 1Y
Start ₹6,358.50

Key Fundamentals

SmallcapIndustrial ManufacturingCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
12.70%
Debt to Equity
0.19
EPS (TTM)
₹51.57
Book Value
₹706.39
Market Cap
—
P/E (TTM)
64.57
P/B
4.71
ROE
8.69%
Dividend Yield
0.00%
EBITDA
₹731 Cr
52W High
₹6,890.00
52W Low
₹2,995.00
Day Range
₹3,218.90 – ₹3,330.00
Volume
4,57,167

Peer Comparison

Industrials › Capital Goods › Industrial Products

Kaynes Technology India peer comparison
Indo-MIM
₹1,240.10106.91₹59,516 Cr18.470.55%23.40%25.00%₹3,482 Cr₹562 Cr
Aditya Infotech
₹3,999.8098.59₹46,234 Cr14.530.04%25.40%28.60%₹4,883 Cr₹477 Cr
Syrma SGS
₹1,512.6079.19₹28,543 Cr9.590.10%14.00%16.80%₹5,464 Cr₹401 Cr
Honeywell Automation
₹29,810.0047.82₹25,976 Cr5.650.38%12.60%17.00%₹4,703 Cr₹552 Cr
Jyoti CNC Automation
₹1,034.9573.19₹22,990 Cr11.010.00%18.20%21.30%₹2,191 Cr₹323 Cr
Kaynes Technology India (this company)
₹3,330.0064.57₹21,957 Cr4.710.00%8.69%12.70%₹3,899 Cr₹345 Cr
LMW
₹17,358.00106.09₹18,108 Cr6.100.21%4.05%5.58%₹3,374 Cr₹176 Cr
Median 7 companies₹3,330.0079.19₹25,976 Cr9.590.10%14.00%17.00%₹3,899 Cr₹401 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

38 Weak

Data confidence 100/100

Category scores

Quality
23
Poor
Returns, margins, earnings quality 22% weight
Valuation
35
Poor
Cheap vs sector & own history 24% weight
Growth
91
Strong
Sales & profit trajectory 9% weight
Financial Health
27
Poor
Solvency, leverage, coverage 9% weight
Momentum
15
Poor
Trend strength, vol-adjusted 12% weight
Ownership
57
Good
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 104% CAGR over last 5 years

Weaknesses

6
  • Stock is trading at 4.55 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 9.70% 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 63.6 days to 133 days

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish766
OscillatorsBullish162
Moving AveragesStrong Bearish604

Key readings

RSI (14)
51.02
Neutral
MACD (12,26,9)
−57.87
Bullish
SMA (50)
3,458.80
Bearish
SMA (200)
3,575.81
Bearish

As of

Analyst Rating

Based on 22 analysts
SELL41%

5 of 22 analysts rate Buy, 8 Hold, 9 Sell.

As of

BUY
5
23%
HOLD
8
36%
SELL
9
41%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+53.90%
3Y+47.67%
1Y+33.21%
TTM+34.91%

Net profit

Net profit growth by window
5Y+105.22%
3Y+56.48%
1Y+24.23%
TTM+8.83%

Operating cash flow

Operating cash flow growth by window
5YTurned negative
3YOutflow widened by ₹558 Cr
1YOutflow widened by ₹518 Cr
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y+5.94 pp
3Y+0.84 pp
1Y+0.66 pp
TTM−0.19 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2019₹364 Cr
Mar 2020₹368 Cr
Mar 2021₹420 Cr
Mar 2022₹706 Cr
Mar 2023₹1,126 Cr
Mar 2024₹1,805 Cr
Mar 2025₹2,722 Cr
Mar 2026₹3,626 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2019₹10.00 Cr
Mar 2020₹9.00 Cr
Mar 2021₹10.00 Cr
Mar 2022₹42.00 Cr
Mar 2023₹95.00 Cr
Mar 2024₹183 Cr
Mar 2025₹293 Cr
Mar 2026₹364 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹160 Cr −1.1% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 4 Nov 2026
AI opinion · based on fundamentals
Risk high

Kaynes Technology India Ltd trades at ₹3,330 as of 2026-11-04 with a market cap of ₹21,957 Cr and a P/E (TTM) of 64.57x. The company has delivered strong historical profit growth of 104% CAGR over five years, but TTM profit growth has decelerated sharply to 9%, and the stock is down 55% from its 52-week high of ₹6,890.

Bull Case 7
  • Exceptional 5-year compounded profit growth of 104% CAGR demonstrates the company's ability to scale earnings rapidly in the capital goods space.
  • Compounded sales growth of 48% over 3 years and 54% over 5 years reflects a robust and expanding order book and strong revenue trajectory.
  • TTM sales growth remains healthy at 35%, indicating continued top-line momentum even as broader growth moderates.
  • Debt-to-equity ratio stands at a conservative 0.19 as of 2026-11-04, suggesting a largely equity-funded balance sheet with limited financial leverage risk.
  • 3-year compounded profit growth of 51% CAGR shows sustained earnings expansion beyond just a single exceptional year.
  • The stock trades at ₹3,330, roughly 52% below its 52-week high of ₹6,890, which may reflect a meaningful correction from prior elevated levels.
  • The company is expected to deliver a good upcoming quarter, suggesting near-term operational momentum remains intact.
Bear Case 8
  • TTM profit growth has decelerated sharply to 9% compared to the 3-year CAGR of 51% and 5-year CAGR of 104%, raising questions about earnings sustainability.
  • P/E (TTM) of 64.57x is elevated for a capital goods company delivering only 9% TTM profit growth, implying the stock prices in significant future growth that may not materialise.
  • Return on equity is modest at 7.64% currently and has averaged only 10% over 3 and 5 years, which is low relative to the premium valuation of 4.71x price-to-book.
  • Working capital days have expanded significantly from 63.6 days to 133 days, indicating deteriorating capital efficiency and growing cash conversion challenges.
  • Debtor days stand at a high 154 days, tying up substantial capital in receivables and increasing collection risk.
  • Promoter holding has decreased by 10.1% over the last three years, which may signal reduced insider confidence or dilution.
  • The company pays zero dividend despite reporting repeated profits, offering no income return to shareholders at a dividend yield of 0%.
  • The stock has delivered a 1-year return of -55%, reflecting significant capital destruction for recent investors and negative sentiment.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

6h ago

TL;DR: Limited recent news flow for Kaynes Technology. The company is expanding its international footprint with a new wholly owned subsidiary in Saudi Arabia to serve GCC markets, signaling a strategic push into Middle Eastern electronics manufacturing. No near-term risks or strong catalysts are visible from current headlines; watch for execution updates on the Saudi operations and any order wins from the region.

Neutral 1
  • Saudi Arabia subsidiary incorporated Nov 02

    Kaynes incorporated wholly owned subsidiary Kaynes Arabia Electronics Company (KAEC) in Saudi Arabia on November 2, 2026, with authorized capital of SAR 100,000. The subsidiary will handle manufacturing and assembly of electronic products targeting GCC markets.

Quarterly Results

₹ Cr
KAYNES quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
297
361
509
637
504
572
661
984
673
906
804
1,243
946
Expenses
257
312
439
542
437
490
567
817
560
758
685
1,049
798
Operating Profit
40
49
70
95
67
82
94
168
113
148
119
194
148
OPM %
14%
14%
14%
15%
13%
14%
14%
17%
17%
16%
15%
16%
16%
Other Income
8
9
9
29
28
34
25
20
27
43
42
42
14
Interest
11
12
15
15
23
22
27
29
28
23
25
41
37
Depreciation
5
7
6
7
8
9
11
17
16
17
20
54
37
PBT
32
39
58
102
64
85
81
142
96
152
116
140
88
Tax %
23%
18%
23%
20%
21%
29%
18%
18%
22%
20%
34%
35%
36%
Net Profit
25
32
45
81
51
60
66
116
75
121
77
91
56
EPS (₹)
4.24
5.56
7.07
12.71
7.94
9.41
10.38
18.15
11.14
18.11
11.43
13.61
8.42

Profit & Loss

₹ Cr
KAYNES profit and loss, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
364
368
420
706
1,126
1,805
2,722
3,626
3,899
Expenses
328
325
378
611
956
1,548
2,305
3,048
3,290
Operating Profit
36
43
42
95
170
257
416
578
609
OPM %
10%
12%
10%
13%
15%
14%
15%
16%
16%
Other Income
2
1
4
4
11
56
107
154
142
Interest
20
25
25
27
36
56
106
121
126
Depreciation
5
8
10
13
19
25
45
107
128
PBT
14
11
11
59
126
232
372
504
496
Tax %
28%
17%
10%
29%
24%
21%
21%
28%
—
Net Profit
10
9
10
42
95
183
293
364
346
EPS (₹)
14.26
13.94
13.79
9.03
16.37
28.68
45.8
54.28
51.57
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
KAYNES balance sheet, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
7
7
7
46
58
64
64
67
Reserves
86
96
132
156
901
2,423
2,776
4,681
Borrowings
156
153
148
189
155
323
903
913
Other Liabilities
115
122
132
231
305
456
898
1,233
Total Liabilities
363
378
419
622
1,419
3,265
4,641
6,894
Fixed Assets
53
66
80
113
132
319
845
1,594
CWIP
2
12
13
8
29
105
391
511
Investments
2
2
2
2
3
132
132
257
Other Assets
306
299
325
499
1,254
2,709
3,273
4,532
Total Assets
363
378
419
622
1,419
3,265
4,641
6,894

Cash Flow

₹ Cr
KAYNES cash flow, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−8
45
28
21
−42
88
−82
−600
Investing
−41
−10
−24
−45
−494
−1,523
−355
−917
Financing
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
−295
−1,031
−1,841
CFO/OP
−3
109
73
24
5
53
−4
−80

Ratios

KAYNES financial ratios, annual
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
123
93
106
102
74
72
77
154
Inventory Days
184
228
209
167
191
150
156
169
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

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Kaynes Technology India insights

62 extracted metrics across FY19–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 53.31%
  • Public 22.41%
  • DIIs 12.48%
  • FIIs 6.07%
  • Others 5.72%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Kaynes Technology India

What does Kaynes Technology India Ltd do?
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…
Where is Kaynes Technology India Ltd (KAYNES) listed?
Kaynes Technology India Ltd trades as KAYNES on the NSE and under code 543664 on the BSE.
Which sector does Kaynes Technology India Ltd belong to?
Kaynes Technology India Ltd is classified under the Capital Goods sector, in the Industrial Products industry.
What is the PE ratio of Kaynes Technology India Ltd?
Kaynes Technology India Ltd trades at a PE ratio of 64.57 as of 4 Nov 2026, on earnings per share of ₹51.57, against a book value of ₹706.39 per share.
What is the 52-week high and low of Kaynes Technology India Ltd?
Over the last 52 weeks Kaynes Technology India Ltd has traded between ₹2,995 and ₹6,890 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Kaynes Technology India Ltd?
Kaynes Technology India Ltd reported a return on equity of 8.69%. Its debt-to-equity ratio is 0.19.

Company Information

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.

Website kaynestechnology.co.in
Listed 22 Nov 2022
Face Value ₹10

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