StockFin.ai Try Free →

Kaynes Technology India Limited (KAYNES)

Capital Goods · Industrial Manufacturing · NSE · Updated 16 June 2026

₹3,082.1 ↓ 44.94% (1Y)

🎯 Key Takeaways

Kaynes Technology India Limited is transitioning from a high-growth phase into a scaling-up stage, marked by consistent top-line expansion and improving margins. The company has demonstrated strong operational momentum with a 33% YoY revenue increase in FY26 to ₹36,264 million and a 40% YoY rise in EBITDA, signaling effective execution of its growth strategy.
Revenue grew 15.6% QoQ to ₹661 in Q3FY25.
⚠️ High valuation (P/E of 80.1) may limit upside if growth moderates.

Market Cap

₹21,933

P/E Ratio

80.1

Div Yield

0.00%

Promoter

0.0%

✨ Ask AI About KAYNES 📊 Interactive Charts

📖 The Story

Kaynes Technology India Limited is transitioning from a high-growth phase into a scaling-up stage, marked by consistent top-line expansion and improving margins. The company has demonstrated strong operational momentum with a 33% YoY revenue increase in FY26 to ₹36,264 million and a 40% YoY rise in EBITDA, signaling effective execution of its growth strategy. Management is reinforcing this trajectory through leadership appointments and a robust order book exceeding ₹80,000 million, positioning the firm for sustained capital goods demand capture.

📰 What's Happening

In the latest filing dated 2026-05-13, Kaynes reported consolidated revenue of ₹36,264 million for FY26, up 33% YoY, with EBITDA at ₹5,741 million (+40% YoY) and PAT rising 24% to ₹3,639 million, accompanied by an 80-basis-point margin expansion to 10%. The company highlighted its expanding order book and strategic leadership changes, including the appointment of Jairam Paravastu Sampath as Whole-time Director and new independent directors Rajesh Mittal and Annadurai Mylswamy. The Board also approved audited FY2026 results showing revenue of ₹23,013.76 crores and net profit of ₹1,599.28 crores, with an unmodified audit opinion. Additionally, an independent director resigned effective May 31, 2026, citing personal reasons, and the company confirmed no deviations in fund utilization for two QIP placements.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	654	297	361	509	637	504	572	661
Operating Profit	110	48	58	79	125	95	116	119
OPM %	15.4%	13.5%	13.5%	13.7%	14.9%	13.3%	14.4%	14.2%
Net Profit	64	25	32	45	81	51	60	66
EPS	₹8.44	₹4.23	₹5.55	₹7.72	₹13.13	₹7.93	₹9.38	₹10.39

The company has exhibited accelerating revenue growth, with quarterly revenues rising from ₹297 million in Q1FY24 to ₹661 million in Q3FY25, reflecting a clear upward trajectory. Operating margins have remained stable around 13-14% despite scaling, while net profit margins improved from 8.44% in Q4FY23 to 10% in FY26, indicating operational efficiency gains. This trend aligns with management's focus on scaling operations and optimizing capacity utilization, supported by a strong order pipeline and leadership reinforcements to drive sustained performance.

🔮 Management Outlook & What's Next

Management expressed confidence in continued growth, citing the expanding order book and new leadership appointments as key drivers, though no specific numerical targets were provided. The Board emphasized that director appointments and governance enhancements are subject to shareholder approval at the upcoming AGM, signaling a structured transition toward institutional strengthening. The company also confirmed compliance with fund utilization norms for QIP issues, reinforcing financial discipline and transparency in capital allocation.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Industrial Manufacturing

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Mazagon Dock Shipbuilders Limited	1.00 L Cr	36.4	—	—	—
Cochin Shipyard Limited	41,948	52.5	—	—	—
Aditya Infotech Limited	29,029	146.0	—	—	—
Honeywell Automation India Limited	25,618	50.7	—	—	—
Kaynes Technology India Limited	21,933	80.1	—	—	—
Syrma SGS Technology Limited	19,539	129.2	—	—	—
Jyoti CNC Automation Limited	16,087	52.2	—	—	—
LMW Limited	15,556	128.8	—	—	—
Tega Industries Limited	11,910	56.2	—	—	—
Jupiter Wagons Limited	11,759	29.9	—	—	—

🔗 Peer Stock Analyses

MAZDOCK COCHINSHIP CPPLUS HONAUT SYRMA

⚠️ Risk Factors

1. High valuation (P/E of 80.1) may limit upside if growth moderates. 2. Margin expansion has so far been modest and must sustain amid competitive pressures in the capital goods sector. 3. Leadership transitions, including new director appointments pending shareholder approval, could introduce execution risks. 4. The company's reliance on a concentrated order book poses execution and order fulfillment risks if large projects face delays.

📋 Recent Filings

🧠 Analyst's Read

Kaynes is executing a clear scaling strategy with improving profitability and a strong order pipeline, but the path forward hinges on translating order backlog into sustained revenue and margin growth. Investors should monitor the pace of order execution, margin trajectory, and the impact of new leadership on governance and operational execution in the coming quarters.

Based on filing content and financial data. Not a recommendation.

✨ Deep Dive with AI on KAYNES

Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-06-16.