The Kaynes Technology India Limited has become one of the most followed firms in the electronic manufacturing and capital goods industry in India. Recently, the Kaynes Technology Share Price has been subject to extreme volatility, where underperformance has been significantly corrected compared with its high despite a high growth in revenue and profits. This is why, this difference between business performance and stock price movement makes Kaynes Technology one of the cases to be analysed, particularly in regards to valuation, capital efficiency, cash flows, and promoter behaviour. This article will provide complete information about Kaynes Technology Share Price.
Kaynes Technology Company Overview
Kaynes Technology India Limited is a company that was established in 2008 and is an end-to-end integrated electronics manufacturing services (EMS) firm. It is also worth noting that unlike the traditional EMS players, which are more assembly-centric in their approach, Kaynes provides design-based and IoT-enabled solutions, including the full product lifecycle, including conceptual design and process engineering, integrated manufacturing, testing, certification, and after-sales services. The company serves several high-stake and high-complexity industries, such as automotive electronics, industrial automation, aerospace and defence, space systems, nuclear systems, medical apparatus, railways, information technology, and Internet of Things (IoT). Kaynes has over the years extended its operations to include semiconductor assembly and testing (OSAT) and high-density interconnect PCBs (HDI PCBs), which has positioned it well in the electronics and semiconductor manufacturing ecosystem in India.
| Item | Details |
| Company Name | Kaynes Technology India Ltd |
| Year of Incorporation | 2008 |
| Sector | Electronics Manufacturing Services |
| Current Price | ₹3,944 |
| Market Capitalisation | ₹26,446 Cr |
| Face Value | ₹10 |
Business Model and Operating Segments
Kaynes Technology has a business concept that focuses on the manufacture of integrated electronics, and value addition begins at the design level. Through this strategy, the company will establish long-term relationships with the clients, increased switching cost as well as a relative good pricing power as opposed to pure-play assembly companies.
Its products include printed circuit board assemblies (PCBA), system integration, box-builds, testing, certification, and product life-cycle management. The transition to the OSAT and HDI PCB business shows that the company will be up the value chain but these are capital-intensive segments, and in the short run, they might strain cash flows and returns. End-user industries are varied and make the reliance on one sector minimal but complicate the execution process as they require different compliance and certification.
| Segment | Description |
| EMS | End-to-end electronics manufacturing |
| IoT Solutions | Connected and smart devices |
| OSAT | Semiconductor assembly & testing |
| HDI PCBs | Advanced PCB manufacturing |
| Key Industries | Auto, Defence, Space, Medical, Railways |
Current Share Price
The current trading price of Kaynes Technology is approximately ₹3,930 and has a large range of 52 weeks with a range of ₹3,295-₹7,705. Its stock value is highly valued on a multiple basis with P/E ratio of approximately 67.5 and other metrics like the ROCE (14.3) are average. Dividend payout is nonexistent and suggests capital allocation towards reinvestment. On February 6, the stock traded around a 3,713, increasing 2.68 percent intra-day, and carried by Q3 FY26 revenues of 8,040 million, up 37 percent a year on year.
| Metric | Value |
| Current Price | ~₹3,930 |
| 52-Week High | ₹7,705 |
| 52-Week Low | ₹3,295 |
| P/E Ratio | ~67.5 |
| ROCE | 14.3% |
| Dividend Yield | 0% |
| Q3 FY26 Revenue | ₹8,040 mn (+37% YoY) |
Kaynes Technology NSE Share Price
Kaynes trades on National Stock Exchange with the trading name KAYNES, and it trades around the prices of BSE ranging at ₹3,930. According to the NSE data, 1-year negative return is about 13-14 percent which is a reflection of the overall devaluation of high-multiple EMS stocks. Liquidity has been good even after the correction of prices, and intraday charts like VWAP (currently, in the range of ₹3,565) are actively being utilized by traders in short-term positioning.
| NSE Parameters | Details |
| NSE Symbol | KAYNES |
| Current Price | ~₹3,930 |
| 1-Year Return | −13% to −14% |
| Recent VWAP | ~₹3,565 |
| Liquidity | High |
Kaynes Technology BSE Share Price
Kaynes Technology’s trading in the Bombay Stock Exchange is in tandem with NSE prices as arbitrage between them is successful. Data on BSE shows that it has a debt-to-equity ratio of 0.19 and a TTM EPS of ₹58.49. Its sizeable market capitalisation is not enough to consider it a large-cap stock because it is a relatively new company listed on BSE and belonged to the sector.
| BSE Parameters | Details |
| BSE Code | KAYNES |
| Current Price | ~₹3,930 |
| Debt-to-Equity | ~0.19 |
| EPS (TTM) | ~₹58.49 |
| Market Cap Category | Small-cap |
Kaynes Technology Share Price History
The company did show great historical returns of the long-term returns and the 3-year CAGR stands at approximately 64. The 5 year sales CAGR of 49% and profit CAGR of 95% of the company highlights the effective operation implementation. But the share has rectified drastically since August 2025 peaks of ₹6,000 to ₹6,100 and is trading at present. The 1-year payoff is in the negative at approximately -13 to -14 percent indicating volatility of the EMS and capital goods segment.
| Period | Return % | Key Observation |
| 1 Week | +6.84% | Post-earnings bounce |
| 1 Month | −2.07% | Consolidation |
| 3 Months | −41.61% | Sharp correction |
| 1 Year | −13.48% | Valuation derating |
| 3 Years | +318.11% | Strong long-term growth |
Kaynes Technology Price Target Tomorrow
No consensus exists among analysts in terms of a price target in the future. Nonetheless, short-term technical analysis like 14-day EMA and 20-day EMA crossovers have been indicated to have an upward movement of 5-7 percent with a short-term horizon. The momentum usually follows around the zone of 3,900 and is supported by strong values of Q3 and order book of about 9,072 crores.
| Aspect | Observation |
| Official Target | Not available |
| Technical Bias | Mildly bullish |
| Historical Short-Term Upside | ~5–7% |
| Key Trigger | Earnings momentum |
Kaynes Technology Price Target 2026
The 12-month analyst projections are 12 months average at around ₹6,965, bullish at approximately ₹8, 604 and bear at approximately ₹4,955. The implications of these targets are an increase in the value of up to 77 percent at current levels, provided the capacity is still growing, and the demand in EMS remains high. The prevailing Buy or Hold ratings indicate optimism with restraint valuation issues by the majority of the analysts.
| Target Range (2026) | Price (₹) |
| Bear Case | ~4,955 |
| Average | ~6,965 |
| Bull Case | ~8,604 |
| Analyst Bias | Buy / Hold |
Kaynes Technology Price Target 2030
The long term forecasts of 2030 differ a great deal. The stock is being estimated at conservative 9,000-10,200 but aggressive estimates are much higher under the assumption that the company can sustain 50%+ CAGR in revenue and profits due to the presence of the Indian electronic and semiconductor ecosystem. These extreme forecasts ought to be treated as hypothetical not base-case forecasts.
| Scenario | Target (₹) |
| Conservative | ₹9,000 – ₹10,200 |
| Aggressive | Significantly higher |
| Key Dependency | Sustained high growth |
Kaynes Technology Stock Price Performance and Volatility
The stock price performance of Kaynes Technology in the past year shows that it has become very volatile. Its stock reached a 52-week high of ₹7705 before it went down and hit ₹3295, the 52-week low. Its present value of ₹3,944 shows that almost 50 percent of the high value has been destroyed. This has been corrected in terms of high growth in operations and this implies that the fall is mainly where there has been compression of the valuation, the risk off atmosphere in high multiple stock and fears of cash flows and promoter dilution.
| Parameter | ₹ |
| 52-Week High | 7,705 |
| 52-Week Low | 3,295 |
| Current Price | 3,944 |
Kaynes Technology Valuation Analysis
At the prevailing market share, the trading of Kaynes Technology is pegged at a P/E ratio of approximately 67.7, which is considerably higher than the median P/E among industrial manufacturing competitors. The valuation suggests high anticipations of future expansion, maintenance and successful implementation of expansion strategies. The turnover ratios are moderate, the ROCE stands at 14.3, and the ROE is 10.7 that do not entirely justify this kind of premium multiple at present. The lack of dividends to shareholders is another evidence that shows that the company is in a high reinvestment period.
Valuation Metrics
| Metric | Value |
| P/E Ratio | 67.7 |
| Book Value | ₹698 |
| ROCE | 14.3% |
| ROE | 10.7% |
| Dividend Yield | 0.00% |
Kaynes Technology Revenue and Profit Growth Trend
Kaynes Technology has been providing superior growth in the last several years. Consolidated revenue has increased by ₹364 crore in FY19 to 2722 crore in FY25 with TTM revenue of ₹3368 crore. There has been an even greater growth in profit, as net profit has grown by ₹293 and ₹389 crore in FY25 and TTM respectively to FY19. This development indicates effective order inflows, capacity extension and growing complexity of products being processed.
| Metric | CAGR |
| Sales Growth (5Y) | 49% |
| Sales Growth (3Y) | 57% |
| Profit Growth (5Y) | 95% |
| Profit Growth (3Y) | 90% |
| TTM Profit Growth | 51% |
Kaynes Technology Quarterly Performance Trend
The quarterly data indicate a definite positive trend in sales and profits, but volatility can be observed as a result of the execution of projects and seasonality. The operating margins have been operating around 14-17 per cent without much fluctuation, which suggests that the company has had cost discipline even when scaling up fast.
| Quarter | Sales (₹ Cr) | Net Profit (₹ Cr) | OPM |
| Mar 2024 | 637 | 81 | 15% |
| Sep 2024 | 572 | 60 | 14% |
| Mar 2025 | 984 | 116 | 17% |
| Dec 2025 | 804 | 77 | 15% |
Kaynes Technology Margin Analysis
On an operating basis, structural margins have improved to the current 15-16% on TTM basis in comparison to 10-12% in previous years. This increase implies improvement of operating leverage, product mix and scale benefits. But these gains at the net profit level are partially compensated by the increasing interest and depreciation expenses.
| Year | OPM |
| FY19 | 10% |
| FY22 | 13% |
| FY24 | 14% |
| FY25 | 15% |
| TTM | 16% |
Kaynes Technology Balance Sheet Strength and Capital Structure
TheThe balance sheet indicates aggressive growth. The total assets are now ₹1,418 crore, in the FY23 and ₹4,641 crore and later ₹6,733 crore, in the FY25 and Sep 2025 respectively. The reserves have increased drastically which means retained earnings and capital injection. There has been a significant growth in borrowings to finance the capacity expansion, OSAT facilities and PCB manufacturing.
| Item | ₹ Cr |
| Total Assets | 4,641 |
| Reserves | 2,776 |
| Borrowings | 903 |
| Fixed Assets | 845 |
| CWIP | 391 |
Kaynes Technology Cash Flow Analysis
The weakest aspect of the Kaynes story is the cash flows. Cash flows operating have been inconsistent and in most cases negative owing to the requirement of high working capital. There is intense capex as indicated in the investment of cash flows. Debt and equity have been used to the advantage of financing cash flows. This trend indicates that it is a capital intensive and continuous fund reliant growth.
| Year | CFO | CFI | CFF |
| FY23 | -42 | -494 | 554 |
| FY24 | 70 | -1,505 | 1,429 |
| FY25 | -82 | -355 | 465 |
Kaynes Technology Working Capital Efficiency
The efficiency of working capital has been on the increase. Cash conversion cycle is also shortened as compared to 193 days (FY21) to 102 days (FY25) which indicates an improvement in reception of receivables and inventory. The negative working capital days of FY25 show better bargaining power and size.
| Metric | Days |
| Debtor Days | 77 |
| Inventory Days | 156 |
| Payable Days | 131 |
| Cash Conversion Cycle | 102 |
Kaynes TechnologyReturn Ratios and Capital Efficiency
Although the growth has been strong, the ratios of returns have been moderate. The ROE has been in the range of 11 and the ROCE has dropped off the highs as the new assets are only in the ramp up stage. Consistent growth of such ratios is essential in terms of valuation support.
| Metric | Value |
| ROE (3Y Avg) | ~11% |
| ROCE (FY25) | 14% |
| Trend | Stable to Slightly Declining |
Kaynes Technology Shareholding Pattern Analysis
Compared to 63.57% of Mar 2023, promoter holding has fallen to 53.46% in Dec 2025, which is more than 10 percentage points. Although there was the rise in institutional participation in the beginning, in recent quarters, the exposure of the FIIs has been minimized. There has been a dramatic increase in the public shareholding meaning more people are involved in retail. This is a direction that should be observed because continuous dilution of promoters may have an impact on market confidence.
| Category | Holding |
| Promoters | 53.46% |
| FIIs | 8.87% |
| DIIs | 16.73% |
| Public | 20.93% |
| Shareholders | 3.66 lakh |
Conclusion
Kaynes Technology India Limited is at a critical stage of its business and market development. The company has performed well operationally achieving good and steady growth in revenue and profits driven by capacity development, diversification in high reliability industries and an upward shift on the electronics value chain with OSAT and HDI PCB capabilities. The stability of the margin and the enhancement of the working-capital efficiency demonstrate that the quality of the execution has been changing in scale to a large extent. But, financially, there is no empty justification of the stock correction. Valuations have been higher as compared to return ratios, cash flows are unpredictable because of the expansion which is capital intensive and promoter holding has decreased significantly in the past few years. Although these factors do not nullify the long-term opportunity, they raise the risk in the near term and lower the margin of safety of investors.
FAQs
Kaynes Technology is a design, manufacturing, testing, and life cycle support company that manufactures, designs and tests electronics and offers integrated electronic manufacturing services (EMS) in the automotive industry, defence, space, medical, railways and industrial electronics.
Stock has fallen primarily on valuation compression, cash flow consistency worries, increasing capex and deteriorating promoter holding as opposed to a deceleration in business growth.
Yes, the company is constantly profitable and has presented good growth in profits, net profit has been increasing rapidly in the past five years. Nevertheless, the returns on equity are not high.
No, the company does not pay dividends at this time, because it is re-investing its profits in capacity expansion and expansion into new business lines.
The main risks are high valuation, capital intensive growth which results in poor free cash flows, increasing borrowings, and the ongoing decline in the shareholding by the promoters.
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