Kaynes Technology India Ltd. (IN:KAYNES)
:KAYNES
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Kaynes Technology India Ltd.
(KAYNES)
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Rating:57Neutral
Price Target:
₹3,662.00
▼(-7.97% Downside)
Action:ReiteratedDate:12/11/25
Kaynes Technology India Ltd. has a strong financial performance with robust revenue growth and profitability, but faces challenges in cash flow management. The technical analysis indicates bearish momentum, and the high P/E ratio suggests overvaluation. These factors combined result in a moderate overall stock score.
Positive Factors
Strong Revenue Growth
Sustained ~42% revenue growth reflects durable demand for contract electronics across multiple end-markets the company serves (industrial, automotive, aerospace, medical, IoT). This scale expansion supports long-term program wins, higher utilization and improved bargaining leverage with suppliers and customers.
Negative Factors
Negative Free Cash Flow
Persistent negative free cash flow driven by sizeable capex can strain liquidity and force reliance on external financing. Over a multi-month horizon this reduces financial flexibility, may increase interest costs, and pressures the company's ability to convert accounting profits into distributable cash.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Sustained ~42% revenue growth reflects durable demand for contract electronics across multiple end-markets the company serves (industrial, automotive, aerospace, medical, IoT). This scale expansion supports long-term program wins, higher utilization and improved bargaining leverage with suppliers and customers.
Read all positive factors
Kaynes Technology India Ltd. (KAYNES) vs. iShares MSCI India ETF (INDA)
Market Cap
₹248.30B
Dividend YieldN/A
Average Volume (3M)28.25K
Price to Earnings (P/E)87.7
Beta (1Y)1.40
Revenue Growth45.11%
EPS Growth54.19%
CountryIN
Employees1,567
SectorTechnology
Sector Strength88
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)11.80
Shares Outstanding67,034,650
10 Day Avg. Volume31,169
30 Day Avg. Volume28,251
Financial Highlights & Ratios
PEG Ratio2.13
Price to Book (P/B)10.91
Price to Sales (P/S)11.39
P/FCF Ratio-30.06
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹4,900.00Price Target Upside23.14% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)91.42
Revenue Forecast (FY)₹57.89B
Kaynes Technology India Ltd. Business Overview & Revenue Model
Company Description
Kaynes Technology India Limited operates as an end-to-end and Internet of Things solutions (IoT) enabled integrated electronics manufacturing company that provides electronics system design and manufacturing services in India, North America, Europ...
How the Company Makes Money
KAYNES primarily makes money by providing manufacturing and related services for electronic products and assemblies on a contract basis. Key revenue streams typically include: (1) Electronics manufacturing/assembly revenue: fees and/or manufacturi...
Kaynes Technology India Ltd. Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
75
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 32.25B | 27.22B | 18.05B | 11.26B | 7.06B | 4.21B |
| Gross Profit | 9.69B | 7.82B | 4.56B | 3.10B | 2.03B | 1.25B |
| EBITDA | 6.36B | 5.15B | 3.08B | 1.78B | 969.15M | 445.10M |
| Net Income | 3.78B | 2.93B | 1.83B | 951.96M | 414.48M | 97.33M |
Balance Sheet | ||||||
| Total Assets | 67.33B | 46.41B | 32.65B | 14.19B | 6.22B | 4.19B |
| Cash, Cash Equivalents and Short-Term Investments | 10.53B | 10.47B | 15.19B | 4.82B | 164.01M | 118.31M |
| Total Debt | 8.85B | 9.03B | 3.23B | 1.55B | 1.89B | 1.48B |
| Total Liabilities | 20.49B | 17.97B | 7.77B | 4.58B | 4.19B | 2.80B |
| Stockholders Equity | 46.81B | 28.40B | 24.87B | 9.59B | 2.03B | 1.39B |
Cash Flow | ||||||
| Free Cash Flow | -10.58B | -10.31B | -3.12B | -1.00B | -211.35M | 27.35M |
| Operating Cash Flow | -2.18B | -823.16M | 701.41M | -419.42M | 211.09M | 277.30M |
| Investing Cash Flow | -12.70B | -3.55B | -15.05B | -4.93B | -445.27M | -240.84M |
| Financing Cash Flow | 14.96B | 4.65B | 14.29B | 5.54B | 272.42M | -13.39M |
Kaynes Technology India Ltd. Technical Analysis
Negative
3979.10
Price Trends
3694.10
Negative
4242.91
Negative
5339.20
Negative
Market Momentum
-71.54
Positive
45.68
Neutral
36.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KAYNES, the sentiment is Negative. The current price of 3979.1 is above the 20-day moving average (MA) of 3627.73, above the 50-day MA of 3694.10, and below the 200-day MA of 5339.20, indicating a bearish trend. The MACD of -71.54 indicates Positive momentum. The RSI at 45.68 is Neutral, neither overbought nor oversold. The STOCH value of 36.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:KAYNES.
Kaynes Technology India Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹220.59B | 982.29 | ― | 1.26% | 0.29% | 7.17% | |
66 Neutral | ₹190.41B | 59.84 | ― | 0.69% | 13.34% | 5.98% | |
62 Neutral | ₹354.71B | 39.06 | ― | 1.19% | 14.88% | -2.60% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | ₹248.30B | 87.75 | ― | ― | 45.11% | 54.19% | |
57 Neutral | ₹266.14B | 74.95 | ― | 1.38% | -1.19% | -17.92% | |
49 Neutral | ₹248.25B | -294.01 | ― | ― | 30.27% | 65.87% |
* Technology Sector Average
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Kaynes Technology India Ltd. Corporate Events
Crisil Reaffirms Kaynes Technology’s ‘A/Stable’ Rating on Rs 770 Crore Bank Facilities
Mar 13, 2026
Kaynes Technology India Ltd. has announced that Crisil Ratings has reaffirmed its long-term and corporate credit rating at ‘Crisil A/Stable’ for total bank loan facilities of Rs 770 crore. The rating has been removed from ‘Rating...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.