MarketFriction

Kaynes Technology India Ltd

NSE KAYNES · BSE 543664 · Industrial Products
₹3,399.00 -2.91%
NSE close2026-10-01
52 week range2,995.00 - 7,705.00
Market cap₹23,605 Cr.
P/E68.0
IPO 2022 · +479% since Nifty 500Nifty Smallcap 50Nifty Smallcap 100Smallcap 250 No price band Delivery 24.8%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales3615096375045726619846739068041,243946
Expenses3124395424374905678175607586851,049798
Operating Profit497095678294168113148119194148
OPM %14%14%15%13%14%14%17%17%16%15%16%16%
Other Income9929283425202743424214
Interest121515232227292823254137
Depreciation7678911171617205437
Profit before tax39581026485811429615211614088
Tax %18%23%20%21%29%18%18%22%20%34%35%36%
Net Profit32458151606611675121779156
EPS in Rs5.567.0712.717.949.4110.3818.1511.1418.1111.4313.618.42
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3643684207061,1261,8052,7223,6263,899
Expenses3283253786119561,5482,3053,0483,290
Operating Profit36434295170257416578609
OPM %10%12%10%13%15%14%15%16%16%
Other Income21441156106154142
Interest202525273656106121126
Depreciation581013192545107128
Profit before tax14111159126232372504496
Tax %28%17%10%29%24%21%21%28%
Net Profit109104295183293364346
EPS in Rs14.2613.9413.799.0316.3728.6845.8054.2851.57
Dividend Payout %0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%54%48%35%
Compounded Profit Growth%104%51%9%
Stock Price CAGR%%15%-50%
Return on Equity%10%10%9%
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital7774658646467
Reserves86961321569012,4232,7764,681
Borrowings156153148189155323903913
Other Liabilities1151221322313054568981,233
Total Liabilities3633784196221,4193,2654,6416,894
Fixed Assets5366801131323198451,594
CWIP21213829105391511
Investments22223132132257
Other Assets3062993254991,2542,7093,2734,532
Total Assets3633784196221,4193,2654,6416,894
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-8452821-4288-82-600
Cash from Investing Activity-41-10-24-45-494-1,523-355-917
Cash from Financing Activity49-35-1275541,4294651,580
Net Cash Flow0-02419-72862
Free Cash Flow-18143-21-100-295-1,031-1,841
CFO/OP-3%109%73%24%5%53%-4%-80%
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days12393106102747277154
Inventory Days184228209167191150156169
Days Payable13613912212110399131131
Cash Conversion Cycle171182193148162123102193
Working Capital Days3832505310766-7133
ROCE %14%13%25%22%15%14%13%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters63.57%57.83%57.83%57.83%57.75%57.75%57.75%53.52%53.46%53.46%53.46%53.46%
FIIs9.90%12.71%14.19%14.27%14.92%14.84%11.17%10.71%10.71%8.87%7.28%5.82%
DIIs15.58%19.04%18.36%17.88%16.07%15.04%16.98%22.39%23.66%16.73%15.13%11.78%
Public10.94%10.41%9.61%10.03%11.25%12.37%14.10%13.36%12.17%20.93%24.12%28.93%
No. of Shareholders67,58886,15897,4231,12,1761,56,8291,92,2142,30,5332,24,6202,19,4053,66,3333,78,5464,49,428

Fundamentals

Market Cap₹ 23,605 Cr.
Current Price₹ 3,512
Stock P/E68.0
Book Value₹ 708
ROCE12.7 %
ROE8.69 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)35%
Compounded Profit Growth (TTM)9%
Consolidated figures.
Valuation
Market capRs 21,726 Cr
Enterprise valueRs 20,523 Cr
P/E (TTM)62.85x
Price to book8.74x
Price to sales5.57x
EV / EBITDA27.36x
EV / EBIT33.01x
EV / sales5.26x
Price to cash flow247.70x
Earnings yield1.59%
P/E, 3-year average79.48x
P/B, 3-year average6.61x
P/E, 5-year average79.48x
P/B, 5-year average6.61x
Profitability
Operating margin (excl. other income)14.23%
Operating margin (incl. other income)17.32%
EBITDA margin19.24%
Pre-tax margin12.72%
Net profit margin8.87%
Net margin, latest quarter5.96%
ROE10.64%
ROCE14.65%
ROA7.83%
ROE, 3-year average17.16%
ROCE, 3-year average20.54%
ROA, 3-year average8.39%
ROE, 5-year average13.79%
ROCE, 5-year average17.82%
ROA, 5-year average6.01%
ROIC (approx.)38.33%
Tax rate20.85%
Other income / net worth2.24%
Growth
Sales growth (latest year)60.27%
Profit growth (latest year)92.53%
Sales CAGR, 3 years62.55%
Sales CAGR, 5 years37.72%
Profit CAGR, 3 years169.35%
Profit CAGR, 5 years80.00%
Sales growth QoQ-23.87%
Profit growth QoQ-38.14%
Sales growth YoY (latest quarter)40.47%
Profit growth YoY (latest quarter)-24.37%
Per share
EPS (TTM)Rs 54.08
EPS (latest year)Rs 28.68
EPS (latest quarter)Rs 8.83
EPS, 3-year averageRs 18.03
EPS, 5-year averageRs 16.36
Book value per shareRs 389.07
Sales per shareRs 609.99
Cash flow per shareRs 13.72
Free cash flow per shareRs -288.02
Efficiency
Asset turnover0.55x
Fixed asset turnover5.65x
Inventory turnover2.53x
Inventory days144 days
Debtor days72 days
Debtors turnover5.08x
Creditor days131 days
Cash conversion cycle193 days
Working capital days133 days
Leverage
Total debtRs 323 Cr
Cash and bankRs 1,526 Cr
Net debtRs -1,203 Cr
Debt to equity0.13x
Net debt / EBITDA-1.60x
Interest coverage4.95x
Current ratio (filing 2026-03-31)2.22x
Quick ratio (filing 2026-03-31)1.58x
Trade payables (filing 2026-03-31)Rs 851 Cr
Owners' fund to total sources76.16%
Debt to assets9.88%
Cash flow
Cash from Operating Activity (latest year)Rs 88 Cr
Cash from Investing Activity (latest year)Rs -1,523 Cr
Cash from Financing Activity (latest year)Rs 1,429 Cr
Net Cash Flow (latest year)Rs -7 Cr
Free cash flow (latest year)Rs -1,841 Cr
FCFE (approx.: FCF + change in debt)Rs -1,673 Cr
Cash from ops / profit, 5 years-0.63x
Sales to cash flow20.57x
Statement figures
Net sales (TTM)Rs 3,899 Cr
Net sales (latest year)Rs 1,805 Cr
Sales (latest quarter)Rs 946 Cr
Operating profit excl. other income (latest year)Rs 257 Cr
Operating profit (latest quarter)Rs 148 Cr
Other income (TTM)Rs 142 Cr
EBITDA (TTM)Rs 750 Cr
PBDT (TTM)Rs 625 Cr
Profit before tax (TTM)Rs 496 Cr
Tax (latest year)Rs 48 Cr
Net profit (TTM)Rs 346 Cr
Net profit (latest year)Rs 183 Cr
Net profit (latest quarter)Rs 56 Cr
Depreciation (TTM)Rs 128 Cr
Depreciation (latest quarter)Rs 37 Cr
Interest (TTM)Rs 126 Cr
Cost of goods sold (latest year)Rs 1,386 Cr
Total expenditure (latest year)Rs 1,548 Cr
Total income (latest year)Rs 1,860 Cr
Share capitalRs 64 Cr
ReservesRs 2,423 Cr
Shareholders' fundsRs 2,487 Cr
Total assetsRs 3,265 Cr
Net blockRs 319 Cr
Capital work in progressRs 105 Cr
InvestmentsRs 132 Cr
ReceivablesRs 356 Cr
InventoryRs 548 Cr
Other liabilitiesRs 456 Cr
Shares outstanding (crore)6.39
Ownership
Promoter holding53.46% (-0.06 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/B 8.74 is at the 2th percentile (median 69.39).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodKAYNESNifty 50Difference
1 week-3.1%-2.8% -0.4 pts
1 month-5.6%-6.8% +1.2 pts
3 months+2.0%-7.6% +9.6 pts
6 months-0.9%+0.4% -1.3 pts
1 year-54.7%-9.9% -44.8 pts
2 years-39.2%-13.6% -25.6 pts
3 years+47.8%+14.2% +33.6 pts
91 mutual fund schemes hold about ₹2,839 Cr. Over three months 67 bought more and 15 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
HDFC Balanced Advantage Fund0.39%423 +15%
Axis Small Cap Fund0.71%224 +8%
HDFC Large & Mid Cap Fund0.71%216 +12%
Nippon India Value Fund2.08%188 +100%
Nippon India Small Cap Fund0.21%177 +18%
Nippon India Multi Cap Fund0.27%151 +12%
HDFC Manufacturing Fund1.35%143 +11%
Nippon India Flexi Cap Fund1.33%130 +49%
ICICI Pru Small Cap Fund1.20%118 +9%
Nippon India Power & Infra Fund1.45%117 +14%
ICICI Pru Small Cap Fund1.20%115 +9%
Axis Focused Fund0.96%109 +100%
ICICI Pru Flexi Cap Fund0.32%82 +1%
Axis Flexi Cap Fund0.56%79 +75%
Axis Flexi Cap Fund0.56%76 +75%
Motilal Oswal Small Cap Fund0.67%55 +100%
Invesco India Infrastructure Fund2.90%45 +55%
Nippon India Multi Asset Allocation Fund0.22%39 +3%
Invesco India PSU Equity Fund2.44%35 +100%
HDFC Dividend Yield Fund0.59%33 +17%
Nippon India Innovation Fund1.02%32 +9%
Nippon India Balanced Advantage Fund0.30%30 -4%
Nippon India Aggressive Hybrid Fund(M0.59%24 +14%
Nippon India Retirement Fund-Wealth Creation0.62%20 +14%
HSBC Consumption Fund1.02%18 +9%

Red flags

F-score 3 of 8
explainWeak cash conversion Cash from operations was 21% of net profit over the last 3 years
explainShare dilution Share count up 10% in a year, 840% in three
lookAuditor change Auditor change 2026-08-07: Kaynes Technology India Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹946 Cr +40.6% vs Jun 2025. Net profit ₹56 Cr -25.3%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2023-09-08Annual General Meeting
DateTypeWhat it says
2026-09-21Shareholder meetingVoting results.
2026-09-18Concall / analyst meetSchedule of meet
2026-09-17Shareholder meetingProceedings of Annual General Meeting held on September 17, 2026
2026-08-22Press ReleaseA press release dated August 22, 2026, titled "BOSGAME enters India with Kaynes Technology; companies sign strategic MoU to build a strong computing p...
2026-08-20Shareholder meetingNotice of Annual General Meeting to be held on September 17, 2026
2026-08-12Monitoring Agency ReportMonitoring Agency Report for the Quarter ended June FY 27
2026-08-12Concall / analyst meetTranscript
2026-08-08Concall / analyst meetLink of Recording
2026-08-07UpdatesCorrigendum to the consolidated financial results for the year ended 31, March 2026.
2026-08-07Investor PresentationInvestor Presentation
2026-08-07Statement of deviation(s) orStatement of deviation(s) or variation(s) under Reg. 32
2026-08-07Press ReleaseA press release dated August 07, 2026, titled "3-month period ended June 2026 Achieved revenues of Rs 9,460 mn with a 40% YoY growth and Rs 1,476 mn...
2026-08-07Change in AuditorsChange in Auditors of the company.
2026-08-07Board meeting outcomeKaynes Technology India Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-06Concall / analyst meetSchedule of meet
2026-08-06Concall / analyst meetSchedule of meet
2026-07-30Concall / analyst meetSchedule of meet
2026-07-29Concall / analyst meetSchedule of meet
2026-07-07Shareholder meetingNotice of Postal Ballot
2026-07-02Change in ManagementAppointment of Internal Auditor for the FY 2026-27.
2026-07-02Board meeting outcomeOutcome of the Board meeting - Appointment of Internal Auditor for the FY 2026-27.
2026-05-29ResignationResignation of Director/KMP/SMP
2026-05-29ResignationResignation of Director/KMP/SMP
2026-05-29ResignationResignation of Mr Heinz Franz Moitzi as Non- Executive Independent Director of the company w.e.f. May 31, 2026.
2026-05-19Concall / analyst meetTranscript
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.89
Max pain (expiry 2026-10-27)3,600
Largest call open interest at3,600
Largest put open interest at3,600
Implied volatility, at the money46.2%
Underlying at snapshot3,399.00
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-30300
2026-09-292,550
2026-09-2821
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
High low price variation greater than 150perc in previous 12 monthsScrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Kaynes Technology India Ltd?

Kaynes Technology India Ltd (KAYNES) has a market capitalisation of Rs 23,605 Cr. at the 2026-10-01 close.

What is the P/E ratio of Kaynes Technology India Ltd?

Kaynes Technology India Ltd trades at a P/E of 68.0 on trailing twelve-month profit, at the 2026-10-01 close.

What were Kaynes Technology India Ltd's latest quarterly results?

In the Jun 2026 quarter, Kaynes Technology India Ltd sales was Rs 946 Cr (+40.6% vs Jun 2025) and net profit was Rs 56 Cr.

What is the 52-week high and low of Kaynes Technology India Ltd?

The 52-week high is Rs 7,705.00 and the 52-week low is Rs 2,995.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03