Company Overview
Kaynes Technology India Ltd. is a leading integrated electronics manufacturer specializing in Electronics System Design and Manufacturing (ESDM) services. With over three decades of experience and eight manufacturing facilities across India, Kaynes serves critical industries including automotive, defence, aerospace, railways, IoT, medical, and industrial sectors. The company serves 230 global customers and is ISO certified.
Products
Kaynes offers OEM Turnkey PCBAs (56% revenue), OEM Turnkey Box Build (39% revenue), Original Design Manufacturing for intelligent metering and IoT solutions, and Product Design & Engineering services. Products include PCBAs, cable harnesses, magnetics, plastics, EV electronics, defence electronics, railway automation systems, and IoT devices for smart cities.
Fundamental Analysis
Market Cap: ₹29,256 crore. PE Ratio: 75.50 (premium valuation). PB Ratio: 6.27. ROE: 10.32% (moderate). ROCE: 15.98% (efficient). Book Value: ₹698.22. Promoter Holding: 53.46% (strong confidence). DII: 15.14%, FII: 7.28%. Intrinsic Value: ₹818.41 (stock trading above due to high growth expectations). No dividend paid as capital reinvested in expansion.
Q4 FY26 Results Outlook
Earnings Call: May 14, 2026, 12:30 PM IST. Expected Revenue: ₹780–880 crore (40–50% YoY growth). Expected PAT: ₹72–90 crore (10–35% QoQ growth). EBITDA Margin: 13–15% (improvement expected). Growth driven by strong defence, automotive EV, and industrial segment execution.
Positive Catalysts
Defence Minister promoting Make in India in defence drives high-margin defence orders. Railway modernization programs increase demand for railway electronics. EV adoption accelerates benefiting EV electronics demand. Government PLI schemes support ESDM sector growth. 230 customers globally reduce concentration risk.
Technical Analysis
Daily: Strong Buy with 8 buy signals. RSI: 48.13 (neutral). MACD: 6.02 (buy signal, bullish momentum). MA200: ₹5925.90 (buy, long-term bullish). MA50: ₹5992.31 (buy). TradingView: Short-term Sell Today, but 1-week and 1-month show buy trends. Medium-term bullish momentum despite short-term consolidation.
News Events
Q4 FY26 earnings call on May 14 is major event. Beat expectations could trigger 10–15% rally. Defence sector tailwinds continue. Railway modernization expands. EV revolution benefits EV electronics. PLI scheme benefits drive sector growth. Capacity expansion supports future revenue.
Positive News
230 global customers across defence, aerospace, automotive, industrial, railway, IoT, medical segments. Eight manufacturing facilities demonstrate scale. Government Make in India and ESDM support continues. Analyst target: ₹4000–4800 vs CMP ₹3200 (25–50% upside).
Negative Risks
Premium PE of 75.50 vulnerable to correction if growth disappoints. ROE of 10.32% is moderate. Competition from Foxconn, Flex increasing. Raw material price volatility affects costs. Capacity expansion execution risks. Semiconductor shortage risk.
Disclaimer
For informational purposes only, not investment advice. Based on publicly available sources but accuracy not guaranteed. Analyst may or may not hold positions. Consult SEBI-registered advisors before investing. Investments subject to market risks. Past performance not indicative of future results. Date: 12 May 2026.