Kaynes Technology

₹2524.9 75.9 | 3.1%

WEBSITE BSE:543664 NSE : KAYNES 10 May, 16:01

Market Cap ₹16138 Cr.

Stock P/E 105.3

P/B 6.6

Current Price ₹2524.9

Book Value ₹ 385

Face Value 10

52W High ₹3248

Dividend Yield 0%

52W Low ₹ 972.3

Edit Ratio

Kaynes Technology Research see more...

Kaynes Technology India Limited looks strong for further growth with increasing order-book and onboarding of new potential customers.

Overview Inc. Year: 2008Industry: Electronics - Components

Kaynes Technology India Ltd is an Indian company that provides engineering design, manufacturing, and testing services for electronic products. The company's offerings include printed circuit board assembly, box build assembly, electromechanical assembly, and cable harness assembly, among others. Kaynes Technology India Ltd caters to various industries such as automotive, healthcare, industrial automation, aerospace, and defense. The company has a presence in India, the United States, Europe, and Japan, and has been in operation for over 30 years. Kaynes Technology India Ltd has a strong focus on quality and innovation, and has won several awards and recognitions for its excellence in the field of electronics manufacturing services.

Kaynes Technology Share Price

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Peer Comparison

Kaynes Technology Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	183	238	199	273	289	365	297	361	509
Other Income	2	-0	1	1	3	7	8	9	9
Total Income	186	238	200	274	292	372	305	370	519
Total Expenditure	161	198	175	230	248	305	257	312	439
Operating Profit	24	40	25	44	44	67	48	58	79
Interest	7	7	7	10	9	8	11	12	15
Depreciation	4	4	5	5	5	5	5	7	6
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0
Profit Before Tax	14	29	13	29	30	54	32	39	58
Provision for Tax	3	9	3	8	7	12	7	7	13
Profit After Tax	11	20	10	21	23	41	25	32	45
Adjustments	0	0	0	0	0	0	0	0	0
Profit After Adjustments	11	20	10	21	23	41	25	32	45
Adjusted Earnings Per Share	11.6	4.3	2.2	4.5	3.9	7.1	4.2	5.6	7.1

Kaynes Technology Profit & Loss

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	281	287	379	364	368	421	706	1126	1532
Other Income	1	6	4	2	2	4	4	11	33
Total Income	282	294	384	367	370	425	710	1138	1566
Total Expenditure	256	267	341	327	326	379	611	956	1313
Operating Profit	26	27	43	39	44	46	99	181	252
Interest	13	13	15	20	25	25	27	36	46
Depreciation	4	5	5	5	8	10	13	19	23
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0
Profit Before Tax	8	10	23	14	11	11	59	126	183
Provision for Tax	2	2	8	4	2	1	17	31	39
Profit After Tax	6	8	16	10	9	10	42	95	143
Adjustments	-0	-0	0	-0	0	0	-0	-0	0
Profit After Adjustments	6	7	16	10	9	10	41	95	143
Adjusted Earnings Per Share	12.4	9.1	19.4	11.9	11.6	11.9	9	16.3	24

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	59%	45%	24%	0%
Operating Profit CAGR	83%	60%	33%	0%
PAT CAGR	126%	119%	43%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	159%	NA%	NA%	NA%
ROE Average	16%	16%	14%	14%
ROCE Average	22%	21%	19%	18%

Kaynes Technology Balance Sheet

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	60	68	83	93	103	139	203	959
Minority's Interest	0	0	1	1	1	1	1	1
Borrowings	12	12	19	30	10	17	29	15
Other Non-Current Liabilities	7	8	9	10	20	15	27	28
Total Current Liabilities	176	173	196	230	246	248	362	442
Total Liabilities	256	262	307	363	379	419	622	1446
Fixed Assets	46	49	46	53	66	80	113	132
Other Non-Current Assets	11	11	10	10	22	20	23	56
Total Current Assets	199	202	251	300	291	319	486	1258
Total Assets	256	262	307	363	379	419	622	1446

Kaynes Technology Cash Flow

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	8	10	8	1	1	1	3	7
Cash Flow from Operating Activities	17	28	9	-8	45	28	21	-42
Cash Flow from Investing Activities	-11	-9	-1	-41	-10	-24	-45	-494
Cash Flow from Financing Activities	-5	-22	-8	49	-35	-1	27	554
Net Cash Inflow / Outflow	2	-2	0	0	-0	2	4	19
Closing Cash & Cash Equivalent	10	8	8	1	1	3	7	26

Kaynes Technology Ratios

#	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	12.37	9.09	19.4	11.89	11.61	11.93	8.98	16.34
CEPS(Rs)	20.93	14.81	25.11	18.21	21.73	24.27	11.88	19.6
DPS(Rs)	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	118.95	83.09	102.25	113.66	125.86	168.6	43.81	164.84
Core EBITDA Margin(%)	8.05	6.69	10.05	10.1	11.52	10	13.48	15.08
EBIT Margin(%)	7.03	7.18	9.97	9.34	9.77	8.57	12.19	14.43
Pre Tax Margin(%)	2.7	3.08	6.09	3.72	3.06	2.58	8.36	11.19
PAT Margin (%)	2.02	2.42	4.11	2.67	2.54	2.31	5.9	8.45
Cash Profit Margin (%)	3.41	3.89	5.32	4.08	4.82	4.71	7.76	10.12
ROA(%)	2.4	2.91	5.56	2.9	2.52	2.44	8	9.2
ROE(%)	10.43	11.89	20.94	11.04	9.57	8.1	24.53	16.4
ROCE(%)	12.84	13.49	22.21	15.82	14.53	13.74	26.49	22.16
Receivable days	107.87	106.79	108.01	129.69	107.35	93.46	82.55	68.84
Inventory Days	96.6	94.51	78.97	104.2	135.25	136.66	100.84	103.65
Payable days	131.32	135.08	124.45	143.09	137.44	119.6	96.76	90.52
PER(x)	0	0	0	0	0	0	0	58.95
Price/Book(x)	0	0	0	0	0	0	0	5.84
Dividend Yield(%)	0	0	0	0	0	0	0	0
EV/Net Sales(x)	0.36	0.32	0.25	0.36	0.38	0.32	0.28	4.66
EV/Core EBITDA(x)	3.94	3.46	2.24	3.32	3.12	2.89	1.96	28.97
Net Sales Growth(%)	0	2.46	31.99	-4.01	1.1	14.23	67.9	59.45
EBIT Growth(%)	0	4.26	72.07	-11.35	5.73	0.21	138.99	88.71
PAT Growth(%)	0	22.67	110.22	-38.56	-3.82	4.03	328.23	128.42
EPS Growth(%)	0	-26.51	113.39	-38.73	-2.32	2.71	-24.71	82
Debt/Equity(x)	1.8	1.42	1.18	1.68	1.4	1.01	0.84	0.14
Current Ratio(x)	1.13	1.17	1.28	1.3	1.18	1.29	1.34	2.84
Quick Ratio(x)	0.67	0.7	0.84	0.77	0.57	0.63	0.72	1.91
Interest Cover(x)	1.62	1.75	2.57	1.66	1.46	1.43	3.18	4.46
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0.02

Kaynes Technology Shareholding Pattern

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	63.57	63.57	63.57	63.57	57.83	57.83
FII	8.53	8.16	7.96	9.9	12.71	14.2
DII	11.42	12.96	13.12	15.59	19.05	18.36
Public	16.48	15.31	15.34	10.94	10.41	9.61
Others	0	0	0	0	0	0
Total	100	100	100	100	100	100

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	3.7	3.7	3.7	3.7	3.7	3.7
FII	0.5	0.47	0.46	0.58	0.81	0.91
DII	0.66	0.75	0.76	0.91	1.22	1.17
Public	0.96	0.89	0.89	0.64	0.67	0.61
Others	0	0	0	0	0	0
Total	5.81	5.81	5.81	5.81	6.39	6.39

Pros

Company has delivered good profit growth of 42% CAGR over last 5 years
Debtor days have improved from 96.76 to 90.52days.
Company has reduced debt.
Company is almost debt free.

Cons

Stock is trading at 6.6 times its book value.

* 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.