Kaynes Technology

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 Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturer in India. Here's an overview of the company's recent news and developments:


*Recent News*


- *QIP Launch*: Kaynes Technology launched a Qualified Institutional Placement (QIP) issue to raise up to ₹1,600 crore. The company has set a floor price of ₹5,625.75 per share, which is a 0.3% premium over the previous day's closing price.

- *Revenue Projection*: The company has projected revenue of ₹4,525 crore for FY26, with EBITDA margins expected to improve by 50 basis points to reach 15.6%. This projection is backed by a strong order book and expansion into new business areas.

- *Export Growth*: Kaynes Technology expects to increase its exports by ₹200-300 crore, with major orders from US- and Europe-based companies in the aerospace and automotive segments.

- *Acquisition Deal*: The company's subsidiary, Kaynes Semicon Pvt Ltd, signed an asset purchase agreement with Japan's Fujitsu General Electronics Ltd to acquire production lines for power modules. The deal is valued at 1.59 billion Japanese yen.


*Business Overview*


- *Electronics Manufacturing*: Kaynes Technology provides end-to-end electronics manufacturing services, including product design, engineering, and manufacturing.

- *IoT Solutions*: The company offers IoT solutions-enabled integrated electronics manufacturing services, catering to various industries such as automotive, aerospace, and defense.

- *Manufacturing Facilities*: Kaynes Technology operates eight strategically located manufacturing facilities across India, with service centers in Cochin and Mumbai.


*Financial Performance*


- *Revenue Growth*: The company has reported strong revenue growth, with a projected revenue of ₹4,525 crore for FY26.

- *EBITDA Margins*: Kaynes Technology expects to improve its EBITDA margins by 50 basis points to reach 15.6% in FY26.


*Brokerage Views*


- *CLSA Rating*: CLSA downgraded Kaynes Technology's rating to 'Hold' from 'Outperform', citing a strong Q4 result but slightly below-expectation growth figures. However, the brokerage raised its price target to ₹6,230 from ₹5,400.

- *Working Capital Requirements*: CLSA noted that increased working capital requirements might impact the company's operating cash flow, but expects this issue to normalize in the coming quarters.


*Stock Performance*


- *Recent Stock Movement*: Kaynes Technology's stock rose 4% after the QIP launch, trading at ₹5,825.50.

- *52-Week High and Low*: The stock's 52-week high is ₹7,824.95, and its 52-week low is ₹3,729.70 ¹.

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