Kaynes Technology India Limited (KAYNES)

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Kaynes Technology India Limited (KAYNES) · mywealthgrid

About

Kaynes Technology operates in Industrial Products within the Industrials sector. With a market cap of ₹24,523 Cr and quarterly consolidated revenues typically ranging from ₹500–₹1,200 Cr, the company is an established mid-cap manufacturing operator. The business shows significant revenue lumpiness, suggesting a project-based or cyclical model.

Face value: ₹10

Market cap

₹22,773 Cr

P/E

65.9×

P/B

4.8×

Dividend yield

ROE

9.6%

ROCE

15.4%

Debt / equity

0.18

OPM

15.8%

EPS (TTM)

₹51.6

Book value

₹708.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Stretched valuation: PE of 70.94 combined with modest ROE of 9.59% leaves limited room for earnings disappointment

Earnings volatility: Quarterly consolidated net profit ranges from ₹56.43 Cr to ₹121.41 Cr, creating forecast uncertainty

Steep drawdown: Stock has fallen 39.89% over 1 year and trades near its 52-week low (₹3,660 vs ₹7,593 peak), reflecting investor concerns

Institutional caution: FII and DII stakes have declined since March 2026 (FII 7.28%→5.82%, DII 15.14%→11.78%) — verify underlying reasons

Generated analysis · source review pending

Growth drivers

Margin stability: Operating margin sustained at 13–16% across quarters despite revenue volatility indicates cost discipline—verify if earnings can grow without margin compression

Financial flexibility: D/E of 0.18 is low, providing capacity for growth investments or capital returns—verify management's strategic priorities for deployment

Operational upside: Quarterly OPM reached 16.33% in Sept 2025 vs. 15.83% average, suggesting room for margin improvement—verify if elevated performance can be sustained

Industrial sector tailwinds: Verify whether government manufacturing initiatives (Make in India, PLI schemes) are benefiting the company's end-market segments

Generated analysis · source review pending

950 historical price candles were omitted because the exchange source has not been verified.

₹3,399.0-3.2%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 47.7% over the last 3 years

Cons

−Low return on equity of 10.4% (3-yr avg)
−Profit declined 96% a year over the last 3 years
−Expensive at 65.9× trailing earnings

Research score

Structured signal from quality, growth, valuation and momentum.

37/100

Business quality: 42
Growth: 50
Valuation: 18

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 50 NIFTY SMALLCAP 100 NIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Indo-Mim LimitedINDOMIMINDOMIM	₹62,891 Cr	₹63,981 Cr	₹4,193 Cr	₹1,071 Cr	25.5%	₹534 Cr	12.7%	29.6%	21.3%	—
Aditya Infotech LimitedCPPLUSCPPLUS	₹44,797 Cr	₹44,910 Cr	₹4,883 Cr	₹709 Cr	13.4%	₹477 Cr	8.7%	33.8%	25.5%	61
Syrma Sgs Technology LimitedSYRMASYRMA	₹33,121 Cr	₹33,474 Cr	₹5,464 Cr	₹610 Cr	11.3%	₹402 Cr	7.2%	18.7%	15%	48
Honeywell Automation India LimitedHONAUTHONAUT	₹29,454 Cr	₹29,454 Cr	₹4,703 Cr	₹637 Cr	12.9%	₹551 Cr	11.2%	16.7%	12.4%	-12
Jyoti Cnc Automation LimitedJYOTICNCJYOTICNC	₹23,470 Cr	₹24,320 Cr	₹2,191 Cr	₹535 Cr	25.2%	₹322 Cr	16.1%	25.3%	18.2%	359
Kaynes Technology India LimitedKAYNESKAYNES	₹22,773 Cr	₹23,648 Cr	₹3,899 Cr	₹609 Cr	15.8%	₹346 Cr	10%	15.4%	9.6%	193
Lmw LimitedLMWLMW	₹17,706 Cr	₹17,706 Cr	₹3,374 Cr	₹219 Cr	5.3%	₹175 Cr	4.1%	6.4%	4.6%	23
Tega Industries LimitedTEGATEGA	₹15,721 Cr	₹16,039 Cr	₹3,059 Cr	₹231 Cr	13.7%	₹21 Cr	8.4%	8.5%	5.9%	153
Lloyds Engineering Works LimitedLLOYDSENGGLLOYDSENGG	₹14,553 Cr	₹14,587 Cr	₹1,611 Cr	₹229 Cr	14.5%	₹163 Cr	15.2%	17.5%	16.4%	184
Kennametal India LimitedKENNAMETKENNAMET	₹9,411 Cr	₹9,411 Cr	₹991 Cr	₹179 Cr	18.1%	₹114 Cr	11.5%	24.5%	18.5%	170
Dynamatic Technologies LimitedDYNAMATECHDYNAMATECH	₹9,354 Cr	₹9,883 Cr	₹1,675 Cr	₹200 Cr	11.3%	₹42 Cr	2%	12.3%	4.3%	142
Standard Engineering Technology LimitedSETLSETL	₹8,318 Cr	₹8,376 Cr	₹849 Cr	₹129 Cr	15.4%	₹89 Cr	10.7%	15.5%	10.7%	335

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	706	1,126	1,805	2,722	3,626
COGS	489	780	1,330	1,900	2,372
Gross profit	217	346	475	822	1,254
	123	178	221	411	680
	94	168	254	411	574
OPM %	13.3%	15%	14.1%	15.1%	15.8%
Depreciation	13	19	25	45	107
Interest	26	35	53	101	117
	4	11	56	107	154
Profit before tax	59	126	231	372	504
Tax	17	31	48	78	140
Tax %	29.4%	24.5%	20.9%	21%	27.8%
	42	95	183	293	364
PAT margin %	5.9%	8.5%	10.1%	10.8%	10%
EPS (₹)	10	19.8	30.6	45.8	54.9
EPS adjusted (₹)	9	10,00,042.9	28.6	45.9	54.3
Annual report	—	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	8	47	58	64	64	67
Reserves	—	156	901	2,423	2,776	4,681
Minority interest	—	1	1	2	4	14
	—	170	136	306	875	875
	—	249	322	471	922	1,257
Total equity & liabilities	—	622	1,419	3,265	4,641	6,894
	70	95	115	293	651	1,508
CWIP	—	4	11	77	300	372
Investments	—	2	20	158	132	257
	—	521	1,273	2,738	3,557	4,757
Total assets	—	622	1,419	3,265	4,641	6,894

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	21	-43	70	-82	-600
	-45	-377	-1,505	-355	-917
	27	554	1,429	465	1,580
Net cash flow	4	134	-7	28	62
Free cash flow	-21	-43	-312	-1,031	-1,841
CFO / Operating profit %	22.5%	-25.6%	27.6%	-20%	-104.6%

Compounded sales growth

7 years: —
5 years: —
3 years: 48%
1 year: 33%

Compounded profit growth

7 years: —
5 years: —
3 years: 56%
1 year: 24%

Return on equity

7 years: —
5 years: 11%
3 years: 8%
Last year: 8%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	30.7%	30.7%	26.3%	30.2%	34.6%
EBITDA margin %	13.3%	15%	14.1%	15.1%	15.8%
EBIT margin %	11.4%	13.3%	12.7%	13.4%	12.9%
PAT margin %	5.9%	8.5%	10.1%	10.8%	10%
Working capital
Receivable days	102	74	72	77	154
Inventory days	169	193	150	156	170
Payable days	122	104	99	131	131
NWC days	149	163	123	102	193
Leverage
Current ratio	1.34	2.96	3.51	1.6	2.22
Debt to EBITDA	1.81	0.81	1.2	2.13	1.52
Debt to equity	0.84	0.14	0.12	0.31	0.18
Interest coverage	3.3	4.6	5.3	4.7	5.3
Asset turnover	1.13	0.79	0.55	0.59	0.53
Return ratios
Return on assets %	6.7%	6.7%	5.6%	6.3%	5.3%
Return on capital employed %	32.5%	25.5%	16.1%	17.2%	15.4%
Return on equity %	20.6%	9.9%	7.4%	10.3%	7.7%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	63.57%	57.83%	57.83%	57.83%	57.75%	57.75%	57.75%	53.52%	53.46%	53.46%	53.46%	53.46%
	9.9%	12.71%	14.2%	14.27%	14.91%	14.84%	11.17%	10.71%	10.71%	8.88%	7.28%	5.82%
	15.59%	19.05%	18.36%	17.87%	16.08%	15.04%	16.97%	22.4%	23.66%	16.73%	15.14%	11.78%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	10.94%	10.41%	9.61%	10.03%	11.26%	12.37%	14.11%	13.37%	12.17%	20.93%	24.12%	28.94%
No. of shareholders	—	—	—	—	—	—	—	—	2,19,405	3,66,333	3,78,546	4,49,428

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹3,501.1 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹3,496.8	-48.2	-1.4%	₹3,496.8	24,200	+907	3,177	150
23 Nov 2026	₹3,450.3	-69.1	-2%	₹3,450.3	1,282	+193	392	150
29 Dec 2026	₹3,431.7	-132	-3.7%	₹3,431.7	21	+21	21	150

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 9 fund houses

Held by these funds

6.76%

of the company's equity

All mutual funds

10.5%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

54 schemes · 9 fund houses

		Shares
Small Cap Fund	Axis Mutual Fund	6.09 L	224.31	0.71%	0.909%	-0
VALUE FUND	Nippon India Mutual Fund	5.11 L	188.12	2.08%	0.762%	+1.92 L
SMALL CAP FUND	Nippon India Mutual Fund	4.79 L	176.61	0.21%	0.715%	-0
Multi Cap FundNEW	Nippon India Mutual Fund	4.09 L	150.73	0.27%	0.611%	—
Flexi Cap Fund	Nippon India Mutual Fund	3.53 L	130.24	1.33%	0.528%	+86,100
Small Cap FundNEW	ICICI Prudential Mutual Fund	3.2 L	118.03	1.2%	0.478%	—
POWER & INFRA FUND	Nippon India Mutual Fund	3.2 L	117.96	1.45%	0.478%	-0
Focused FundNEW	Axis Mutual Fund	2.97 L	109.47	0.96%	0.443%	—

1–8 of 54

1 / 7

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results7 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

26 announcementsExport CSV

21 Sept 2026, 2:41 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

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Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	30.7%	30.7%	26.3%	30.2%	34.6%
EBITDA margin %	13.3%	15%	14.1%	15.1%	15.8%
EBIT margin %	11.4%	13.3%	12.7%	13.4%	12.9%
PAT margin %	5.9%	8.5%	10.1%	10.8%	10%
Working capital
Receivable days	102	74	72	77	154
Inventory days	169	193	150	156	170
Payable days	122	104	99	131	131
NWC days	149	163	123	102	193
Leverage
Current ratio	1.34	2.96	3.51	1.6	2.22
Debt to EBITDA	1.81	0.81	1.2	2.13	1.52
Debt to equity	0.84	0.14	0.12	0.31	0.18
Interest coverage	3.3	4.6	5.3	4.7	5.3
Asset turnover	1.13	0.79	0.55	0.59	0.53
Return ratios
Return on assets %	6.7%	6.7%	5.6%	6.3%	5.3%
Return on capital employed %	32.5%	25.5%	16.1%	17.2%	15.4%
Return on equity %	20.6%	9.9%	7.4%	10.3%	7.7%

105 deals · 22 Nov 2022 – 22 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
22 Sept 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	4,13,878	₹3,507.08	₹145.15 Cr
22 Sept 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	4,11,449	₹3,507.01	₹144.30 Cr
31 Jul 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	3,86,742	₹3,791.71	₹146.64 Cr
31 Jul 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	3,86,742	₹3,788.96	₹146.53 Cr
29 Jul 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	5,45,803	₹3,543.35	₹193.40 Cr
29 Jul 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	5,45,803	₹3,539.64	₹193.19 Cr
9 Jul 2026	JUMP TRADING FINANCIAL INDIA PRIVATE LIMITED	Bulk	NSE	Sell	7,18,273	₹3,419.72	₹245.63 Cr
9 Jul 2026	JUMP TRADING FINANCIAL INDIA PRIVATE LIMITED	Bulk	NSE	Buy	7,18,273	₹3,421.81	₹245.78 Cr
25 Jun 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	4,34,054	₹3,304.30	₹143.42 Cr
25 Jun 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	4,34,054	₹3,304.55	₹143.44 Cr

1–10 of 105

1 / 11

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

32

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
6	0	0	₹646.0	2,900	₹12.4	20	-7	28
0	0	0	₹0.0	2,950	₹14.5	4	+2	3
16	0	0	₹560.0	3,000	₹19.7	167	+42	291
0	0	0	₹0.0	3,050	₹0.0	0	0	0
4	0	0	₹457.8	3,100	₹31.4	298	+59	149
13	0	0	₹313.5	3,150	₹80.5	0	0	6
9	0	0	₹338.0	3,200	₹52.7	302	+151	709
0	0	0	₹0.0	3,250	₹49.5	17	-2	48

Shaded cells are in the money against the underlying close. Green and red mark the move against the previous close — on the premium for LTP, on the position for change in OI. Settlement prices are the exchange's, not the last trade.

Date	Category	Subject	Filing
21 Sept 2026, 2:41 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
18 Sept 2026, 5:01 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
17 Sept 2026, 6:39 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
22 Aug 2026, 7:17 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
21 Aug 2026, 6:54 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
21 Aug 2026, 6:51 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
20 Aug 2026, 6:19 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
20 Aug 2026, 6:13 pm	AGM/EGM AGM	18Th Annual General Meeting	PDF

Kaynes Technology India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Shareholding

F&O

3

Fund holders

Documents

Announcements

Events

1

Announcements

1

Announcements

3

Annual reports

Credit ratings

Investor Presentation and earnings call

32

Compounded sales growth

Compounded profit growth

Return on equity

Kaynes Technology India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Futures3

Fund holders

Documents

Announcements

Events

Board meetings1

Announcements

Ratio timeline

Board meetings1

Announcements

Quarterly record

Futures3

Annual reports

Credit ratings

Investor Presentation and earnings call

Bulk & block deals

Board and management

Option chain32

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

3

1

1

3

32