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 ₹ 36,908 Cr.
- Current Price ₹ 5,759
- High / Low ₹ 7,825 / 2,424
- Stock P/E 186
- Book Value ₹ 397
- Dividend Yield 0.00 %
- ROCE 11.2 %
- ROE 7.34 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 68.0% CAGR over last 5 years
- Debtor days have improved from 71.0 to 36.1 days.
Cons
- Stock is trading at 14.5 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 10.6% over last 3 years.
- Earnings include an other income of Rs.143 Cr.
* 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
Sector: Consumer Durables Industry: Electronics - Components
Part of BSE 500 Nifty Total Market Nifty500 Multicap India Manufacturing 50:30:20 Nifty500 Multicap Infrastructure 50:30:20 BSE Industrials
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|
369 | 353 | 360 | 393 | 671 | 1,086 | 1,274 | 1,554 | |
332 | 317 | 319 | 355 | 580 | 920 | 1,100 | 1,332 | |
Operating Profit | 37 | 36 | 41 | 38 | 92 | 166 | 173 | 222 |
OPM % | 10% | 10% | 11% | 10% | 14% | 15% | 14% | 14% |
5 | 2 | 2 | 4 | 5 | 12 | 64 | 143 | |
Interest | 15 | 20 | 24 | 24 | 26 | 36 | 56 | 78 |
Depreciation | 5 | 5 | 6 | 10 | 12 | 18 | 21 | 25 |
Profit before tax | 22 | 13 | 13 | 9 | 58 | 125 | 161 | 262 |
Tax % | 34% | 29% | 15% | 1% | 29% | 24% | 21% | |
15 | 9 | 11 | 9 | 41 | 95 | 126 | 199 | |
EPS in Rs | 21.57 | 13.60 | 16.68 | 12.60 | 8.88 | 16.30 | 19.73 | 31.08 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 29% |
3 Years: | 48% |
TTM: | 24% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 68% |
3 Years: | 144% |
TTM: | 73% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 104% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 11% |
3 Years: | 11% |
Last Year: | 7% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|
Equity Capital | 7 | 7 | 7 | 7 | 46 | 58 | 64 | 64 |
Reserves | 78 | 87 | 98 | 131 | 156 | 900 | 2,365 | 2,477 |
98 | 156 | 142 | 138 | 183 | 145 | 279 | 445 | |
122 | 110 | 113 | 130 | 224 | 297 | 260 | 335 | |
Total Liabilities | 304 | 360 | 360 | 406 | 609 | 1,400 | 2,968 | 3,321 |
45 | 49 | 54 | 67 | 107 | 119 | 199 | 243 | |
CWIP | 1 | 2 | 9 | 10 | 4 | 26 | 34 | 18 |
Investments | 3 | 4 | 3 | 3 | 3 | 4 | 174 | 192 |
255 | 305 | 293 | 326 | 495 | 1,251 | 2,561 | 2,869 | |
Total Assets | 304 | 360 | 360 | 406 | 609 | 1,400 | 2,968 | 3,321 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
9 | -5 | 33 | 13 | 15 | -52 | -103 | |
-1 | -10 | -19 | -20 | -37 | -480 | -1,302 | |
-8 | 39 | -36 | 8 | 26 | 550 | 1,395 | |
Net Cash Flow | 0 | 24 | -22 | 1 | 3 | 18 | -10 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
Debtor Days | 131 | 125 | 94 | 113 | 103 | 74 | 36 |
Inventory Days | 123 | 188 | 219 | 208 | 167 | 191 | 189 |
Days Payable | 140 | 138 | 138 | 120 | 120 | 102 | 76 |
Cash Conversion Cycle | 113 | 174 | 175 | 201 | 150 | 162 | 150 |
Working Capital Days | 119 | 165 | 147 | 172 | 137 | 158 | 216 |
ROCE % | 15% | 15% | 12% | 25% | 22% | 11% |
Documents
Announcements
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
7 Apr - Submission of compliance certificate under SEBI regulations.
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General Announcement
29 Mar - Correction of Board Meeting commencement time.
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Board Meeting Outcome for Outcome Of The Board Meeting Dated March 29, 2025
29 Mar - Allotment of shares and incorporation of subsidiary.
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Closure of Trading Window
25 Mar - Closure of Trading Window from April 1 to May 11, 2025.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 13 Mar
Concalls
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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 2023TranscriptNotesPPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT REC
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Mar 2023TranscriptNotesPPT
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Feb 2023Transcript PPT
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Dec 2022TranscriptNotesPPT
Offerings
The company is a prominent player in integrated electronics manufacturing. It offers end-to-end and IoT-enabled ESDM solutions spanning conceptual design, process engineering, integrated manufacturing, and life-cycle support. It has also ventured into semiconductor assembly and testing (OSAT) and high-density interconnect PCBs (HDI PCBs). Its offerings cater to diverse industries like automotive, industrial, aerospace, defense, outer space, nuclear, medical, railways, IoT, etc. [1]