Kaynes Technology Q1 revenue rises 40% to ₹946 crore; Motilal Oswal flags 30% upside
AI Market Summary
Kaynes Tech posted better-than-expected Q1 revenue growth (+40% YoY) with EBITDA broadly in line, while margins compressed on higher input, energy, commodity and FX costs. A strong order book and bullish brokerage commentary support sentiment, though higher depreciation/tax led to EPS estimate cuts for FY27-28. Market focus is likely on margin normalization, cash conversion cycle deterioration, and execution risk in new verticals.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT-0.51%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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Kaynes Technology reported June-quarter revenue of ₹946 crore, up 40% year on year and above the ₹866 crore market estimate, while EBITDA came in at ₹147.5 crore in line with expectations. Its core businesses each grew more than 30%, and smaller businesses posted growth ranging from 70% to 180%. Motilal Oswal reiterated a “buy” rating, set a ₹5,000 price target implying 30% upside, and forecast FY2026-2028 revenue, EBITDA and adjusted PAT CAGRs of 41%, 44% and 52%, respectively.
