BSE: 543664 | NSE: KAYNES | Electronics - Components | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Kaynes Technology India Ltd is a average quality company.
The key valuation ratios of Kaynes Technology India Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Kaynes Technology India Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 18.3% | 13.3% | 13.5% | 22.1% | 15.5% | 14.9% | 12.3% | 26.1% | 22.1% | 11.4% | - |
| Value Creation Index ⓘ | 0.6 | 0.2 | 0.2 | 1.0 | 0.4 | 0.3 | 0.1 | 1.3 | 0.6 | -0.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 317 | 276 | 278 | 369 | 353 | 360 | 393 | 671 | 1,087 | 1,274 | 1,475 |
| Sales YoY Gr. | - | -13.1% | 0.9% | 32.9% | -4.5% | 2.1% | 9% | 70.9% | 61.8% | 17.3% | - |
| Adj EPS ⓘ | 13.5 | 11.7 | 7.1 | 15.6 | 12.4 | 14.5 | 9.8 | 8.5 | 16.3 | 19.9 | 29.2 |
| YoY Gr. | - | -13.5% | -39.1% | 119.2% | -20.6% | 17% | -32.8% | -13.1% | 92.3% | 21.9% | - |
| BVPS (₹) ⓘ | 111.5 | 123.2 | 85.3 | 103.3 | 114.7 | 128.6 | 169.4 | 43.9 | 164.7 | 379.8 | 397 |
| Adj Net Profit ⓘ | 6.7 | 5.8 | 5.8 | 12.7 | 10.1 | 11.8 | 8 | 39.1 | 94.7 | 127 | 187 |
| Cash Flow from Ops. ⓘ | 8.5 | 19 | 28.3 | 9.4 | -4.5 | 33.4 | 13 | 14.7 | -52.3 | -103 | - |
| Debt/CF from Ops. ⓘ | 11.8 | 5.6 | 3.4 | 10.4 | -34.3 | 4.2 | 10.5 | 11.2 | -2.4 | -2.6 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 16.7% | 29.3% | 48% | 17.3% | ||||
| Adj EPS ⓘ | 4.4% | 9.9% | 26.8% | 21.9% | ||||
| BVPSⓘ | 14.6% | 27.1% | 30.9% | 130.6% | ||||
| Share Price | - | - | - | 125.8% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 13.1 | 9.8 | 8.8 | 16.6 | 11.4 | 11.9 | 6.5 | 22.9 | 16.3 | 7.5 | 7.5 |
| Op. Profit Mgn % ⓘ | 8 | 8.7 | 7.8 | 10.4 | 10.6 | 11.6 | 9.6 | 13.6 | 15.3 | 13.7 | 14.6 |
| Net Profit Mgn % ⓘ | 2.1 | 2.1 | 2.1 | 3.5 | 2.9 | 3.3 | 2 | 5.8 | 8.7 | 10 | 12.7 |
| Debt to Equity ⓘ | 1.8 | 1.7 | 1.4 | 1.2 | 1.7 | 1.4 | 1 | 0.8 | 0.1 | 0.1 | 0 |
| Working Cap Days ⓘ | 197 | 241 | 244 | 219 | 269 | 281 | 276 | 214 | 214 | 272 | 293 |
| Cash Conv. Cycle ⓘ | 83 | 93 | 97 | 93 | 126 | 141 | 136 | 110 | 99 | 107 | 224 |
Sales growth is growing at healthy rate in last 3 years 48.02%
Net Profit is growing at healthy rate in last 3 years 26.76%
Sales growth is good in last 4 quarters at 22.26%
Return on Equity has declined versus last 3 years average to 7.50%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 29.2 | 37.1 |
| TTM Sales (₹ Cr.) | 1,475 | 2,223 |
| BVPS (₹.) ⓘ | 397 | 406.1 |
| Reserves (₹ Cr.) ⓘ | 2,477 | 2,535 |
| P/BV ⓘ | 14.16 | 13.85 |
| PE ⓘ | 192.89 | 151.57 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 2281.25 / 6050.00 |
| All Time Low / High (₹) | 625.05 / 6050.00 |
| Market Cap (₹ Cr.) | 35,989 |
| Equity (₹ Cr.) | 64 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 193.1 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 317 | 276 | 278 | 369 | 353 | 360 | 393 | 671 | 1,087 | 1,274 |
| Operating Expenses ⓘ | 292 | 252 | 256 | 331 | 317 | 319 | 355 | 580 | 920 | 1,101 |
| Manufacturing Costs | 9 | 3 | 11 | 19 | 24 | 22 | 4 | 36 | 62 | 50 |
| Material Costs | 235 | 193 | 192 | 250 | 233 | 239 | 268 | 469 | 760 | 912 |
| Employee Cost | 25 | 27 | 31 | 39 | 39 | 40 | 43 | 56 | 70 | 88 |
| Other Costs ⓘ | 22 | 29 | 22 | 23 | 20 | 19 | 40 | 18 | 28 | 51 |
| Operating Profit ⓘ | 25 | 24 | 22 | 38 | 36 | 41 | 38 | 92 | 166 | 173 |
| Operating Profit Margin (%) | 8.0% | 8.7% | 7.8% | 10.4% | 10.2% | 11.4% | 9.6% | 13.6% | 15.3% | 13.6% |
| Other Income ⓘ | 4 | 1 | 5 | 5 | 2 | 2 | 4 | 5 | 12 | 64 |
| Interest ⓘ | 12 | 14 | 13 | 16 | 20 | 24 | 24 | 26 | 36 | 56 |
| Depreciation ⓘ | 3 | 4 | 4 | 5 | 5 | 6 | 10 | 12 | 18 | 21 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 14 | 8 | 9 | 22 | 13 | 13 | 9 | 58 | 125 | 161 |
| Tax ⓘ | 6 | 2 | 2 | 8 | 4 | 2 | 0 | 17 | 30 | 35 |
| Profit After Tax | 8 | 6 | 7 | 15 | 9 | 11 | 9 | 41 | 95 | 126 |
| PAT Margin (%) | 2.6% | 2.1% | 2.6% | 4.0% | 2.6% | 3.1% | 2.2% | 6.1% | 8.7% | 9.9% |
| Adjusted EPS (₹) | 16.8 | 11.7 | 8.8 | 18.0 | 11.3 | 13.9 | 10.5 | 8.9 | 16.3 | 19.7 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 55 | 61 | 70 | 84 | 94 | 105 | 139 | 203 | 958 | 2,428 |
| Share Capital ⓘ | 5 | 5 | 5 | 7 | 7 | 7 | 8 | 47 | 58 | 64 |
| Reserves ⓘ | 50 | 56 | 65 | 78 | 87 | 98 | 131 | 156 | 900 | 2,364 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 97 | 101 | 91 | 88 | 148 | 120 | 137 | 154 | 126 | 260 |
| Long Term Debt | 8 | 12 | 12 | 19 | 30 | 10 | 17 | 26 | 16 | 11 |
| Short Term Debt | 89 | 89 | 79 | 70 | 119 | 111 | 120 | 128 | 111 | 249 |
| Trade Payables | 73 | 70 | 76 | 97 | 89 | 91 | 88 | 156 | 215 | 189 |
| Others Liabilities ⓘ | 23 | 24 | 26 | 35 | 29 | 44 | 41 | 97 | 127 | 148 |
| Total Liabilities ⓘ | 248 | 256 | 263 | 304 | 360 | 360 | 406 | 609 | 1,427 | 3,024 |
Fixed Assets | ||||||||||
| Gross Block | 52 | 61 | 68 | 70 | 79 | 90 | 110 | 159 | 190 | 291 |
| Accumulated Depreciation | 12 | 16 | 20 | 25 | 30 | 36 | 43 | 53 | 70 | 92 |
| Net Fixed Assetsⓘ | 39 | 45 | 48 | 45 | 49 | 54 | 67 | 107 | 119 | 199 |
| CWIP ⓘ | 0 | 1 | 0 | 1 | 2 | 9 | 10 | 4 | 26 | 34 |
| Investmentsⓘ | 3 | 3 | 3 | 3 | 4 | 3 | 3 | 3 | 4 | 174 |
| Inventories | 71 | 80 | 80 | 85 | 120 | 144 | 153 | 217 | 402 | 473 |
| Trade Receivables | 100 | 88 | 91 | 132 | 121 | 93 | 122 | 189 | 220 | 126 |
| Cash Equivalents | 8 | 10 | 8 | 8 | 32 | 12 | 13 | 20 | 479 | 1,515 |
| Others Assetsⓘ | 26 | 29 | 33 | 30 | 32 | 45 | 39 | 70 | 177 | 503 |
| Total Assets ⓘ | 248 | 256 | 263 | 304 | 360 | 360 | 406 | 609 | 1,427 | 3,024 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 8 | 19 | 28 | 9 | -5 | 33 | 13 | 15 | -52 | -103 |
| PBT ⓘ | 14 | 8 | 9 | 22 | 13 | 13 | 9 | 58 | 125 | 161 |
| Adjustment ⓘ | 11 | 17 | 15 | 18 | 24 | 30 | 28 | 33 | 40 | 36 |
| Changes in Working Capital ⓘ | -13 | -2 | 6 | -28 | -36 | -8 | -19 | -73 | -170 | -270 |
| Tax Paid ⓘ | -3 | -4 | -1 | -3 | -6 | -2 | -4 | -3 | -47 | -30 |
| Cash Flow From Investing Activity ⓘ | -12 | -12 | -9 | -1 | -10 | -19 | -19 | -37 | -480 | -1,302 |
| Capex | -15 | -11 | -9 | -2 | -11 | -19 | -20 | -36 | -47 | -135 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | -1 | 0 | -3 | -443 | -1,217 |
| Others ⓘ | 3 | -1 | 0 | 1 | 0 | 1 | 1 | 2 | 10 | 50 |
| Cash Flow From Financing Activityⓘ | 5 | -5 | -21 | -8 | 39 | -36 | 8 | 26 | 550 | 1,395 |
| Net Proceeds from Shares ⓘ | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 660 | 1,344 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9 | -10 | -4 |
| Interest Paid ⓘ | -11 | -11 | -12 | -14 | -19 | -23 | 0 | -25 | -34 | -54 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 16 | 4 | -10 | 6 | 57 | -14 | 8 | 42 | -65 | 109 |
| Net Cash Flow ⓘ | 1 | 2 | -2 | 0 | 24 | -22 | 2 | 3 | 18 | -10 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 16.22 | 9.96 | 10.96 | 19.06 | 10.4 | 11.43 | 7.05 | 24.06 | 16.34 | 7.45 |
| ROCE (%) | 18.26 | 13.25 | 13.48 | 22.07 | 15.52 | 14.9 | 12.3 | 26.07 | 22.05 | 11.44 |
| Asset Turnover Ratio | 1.49 | 1.18 | 1.16 | 1.32 | 1.06 | 1 | 1.03 | 1.32 | 1.07 | 0.57 |
| PAT to CFO Conversion(x) | 1 | 3.17 | 4 | 0.6 | -0.56 | 3 | 1.44 | 0.37 | -0.55 | -0.82 | Working Capital Days |
| Receivable Days | 101 | 115 | 109 | 109 | 131 | 108 | 100 | 84 | 69 | 50 |
| Inventory Days | 71 | 92 | 97 | 80 | 106 | 134 | 138 | 100 | 104 | 125 |
| Payable Days | 106 | 136 | 139 | 126 | 145 | 137 | 122 | 95 | 89 | 81 |
Kaynes Technology India Limited was incorporated on March 28, 2008 at Mysore, Karnataka as a private limited company under the Companies Act, 1956, with the name ‘Kaynes Technology India Private Limited’ pursuant to a certificate of incorporation granted by the Registrar of the Companies, Karnataka at Bangalore (RoC). Subsequently, the name of the Company was changed to ‘Kaynes Technology India Limited’ upon conversion of the company into a public limited company pursuant to a special resolution passed by company’s Shareholders on March 24, 2022 and the fresh certificate of incorporation was issued by the RoC consequent upon change of name on conversion to public limited company on March 31, 2022.
The company is an end-to-end and IoT solutions enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing (ESDM) services. It has experience in providing conceptual design, process engineering, integrated manufacturing and life-cycle support for major players in the automotive, industrial, aerospace and defence, outer-space, nuclear, medical, railways, Internet of Things (IoT), Information Technology (IT) and other segments.
The company operates eight strategically located manufacturing facilities across India in the states of Karnataka, Haryana, Himachal Pradesh, Tamil Nadu, and Uttarakhand. Its facilities are located in proximity to its customers, allowing it to service their requirements efficiently and cost-effectively. Certain of its manufacturing facilities are approved under the Electronics Hardware Technology Park Scheme of Software Technology Park of India, Bengaluru and 100% Export Oriented Unit Scheme of Madras Export Processing Zone, Chennai, Tamilnadu that offer incentives similar to a special economic zone. The company lays significant emphasis on research and development. This has enabled it to address its consumers’ diverse needs, enhance existing products with emerging technologies, introduce new and innovative products in the market, enhance existing products with emerging technologies, and optimize costs across its products through value analysis and value engineering. It has a dedicated research and development facility located within its facility at Mysuru, Karnataka - Unit - I.
Business area of the company
The company undertakes “Build To Print” or “Build to Specifications” of complex box builds, sub-systems and products across various industry verticals. It undertake turnkey electronics manufacturing services of PCBAs, cable harness, magnetics and plastics ranging from prototyping to product realization including mass manufacturing. It offer ODM services in smart metering technology, smart street lighting, brush less DC (BLDC) technology, inverter technology, gallium nitride based charging technology and providing IoT solutions for making smart consumer appliances or devices IoT connected. It offers conceptual design and product engineering services in industrial and consumer segments.
The company’s services include PCB cladding or electrical schematics to embedded design and submitting proof of concept to prototyping. It also offer connected product engineering and solutions. It has a portfolio of hardware, software accelerators and proprietary sensors along with cloud platform based service and solution offerings in asset tracking, remote device management and smart product development. Its digital engineering offerings leverage latest technologies including IoT, big data, machine learning, cloud and media to improve customers’ efficiency. It also provide end-to-end IoT and cloud enablement solutions and offer IoT data and analytics platform and vertical IoT solutions.
Key Awards, Accreditations and Recognition
Major events and milestones
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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