The fall and fall of Kaynes Tech shares - Down 25% in 2 days but Jefferies tags a 'buy'
Kaynes Technology India shares extended its weakness for day two as the stock bled another 4.6 per cent to Rs 3,182.55, hitting its new 52-week lows on Friday.
- May 15, 2026,
- Updated May 15, 2026 9:45 AM IST
Kaynes Technology shares: Electronics manufacturer Kaynes Technology India Ltd extended its weakness for day two as the stock bled another 4.6 per cent to Rs 3,182.55, hitting its new 52-week lows on Friday. The stock has tumbled as much as 25 per cent in two sessions from its close at Rs 4,177.85 on Wednesday. The free-fall in the stock shall be attributed to its dismal results in Q4.
In the quarter ended on March 31, 2026 Kaynes Technology reported a 21.5 per cent YoY fall in the net profit at Rs 91.2 crore, while its revenue jumped 26.2 per cent YoY to Rs 1,242.6 crore for the quarter ended on March 31, 2026. Its ebitda rose 15.4 per cent YoY to Rs 193.6 crore, while ebitda margins contracted 140 basis points to 15.6 per cent for the last quarter of FY26.
Its order book exceeded Rs 8,000 crore as of March 31, 2026. However, the company missed its own downgraded FY26 revenue guidance of Rs 4,100 crore, reporting lower growth than anticipated. Finance costs doubled to Rs 41 crore, and depreciation increased by 178 per cent for the reported period.
However, the stock has seen a 'buy' rating from global brokerage firm Jefferies, which has trimmed its target price to Rs 3,970 from Rs 4,515 earlier, suggesting a 23 per cent rise from its 52-week lows. The brokerage said that the Kaynes may require further fund raising, as high working capital remains a balance sheet concern.
Jefferies has cut its EPS estimates for FY27 and FY28 by 16-17 per cent to factor in the earnings miss and weak management commentary. The management did not provide any near-term outlook. The global investment banker sees Kaynes' EPS over FY26-29 to grow at 43 per cent CAGR as OSAT and PCB sales can come onstream by this financial year.
Kaynes Tech has received at least multiple downgrades on Friday from brokerages such as Avendus Spark, IIFL, JM Financial, Nomura, BNP Paribas, CLSA and Equirus Securities. Brokerage firms downgrading the stock have cut their price target by up to 25 per cent on the counter.
Avendus Spark has downgraded the stock to 'reduce' with a target price of Rs 3,208, while JM Financial and Equirus Securities have also downgraded it to a 'reduce' with cut target prices of Rs 4,350 and Rs 3,100, respectively. On the other hand, IIFL Securities has an 'add' rating on it with a trimmed target price of Rs 3,835.
Nomura and BNP Paribas have downgraded Kaynes Technology to 'neutral' rating with target price of Rs 3,719 and Rs 4,060. Nuvama Institutional Equities and CLSA have new target prices of Rs 3,550 and Rs 3,240 on the stock. Both have maintained a 'hold' rating on the stock.
Kaynes Technology shares: Electronics manufacturer Kaynes Technology India Ltd extended its weakness for day two as the stock bled another 4.6 per cent to Rs 3,182.55, hitting its new 52-week lows on Friday. The stock has tumbled as much as 25 per cent in two sessions from its close at Rs 4,177.85 on Wednesday. The free-fall in the stock shall be attributed to its dismal results in Q4.
In the quarter ended on March 31, 2026 Kaynes Technology reported a 21.5 per cent YoY fall in the net profit at Rs 91.2 crore, while its revenue jumped 26.2 per cent YoY to Rs 1,242.6 crore for the quarter ended on March 31, 2026. Its ebitda rose 15.4 per cent YoY to Rs 193.6 crore, while ebitda margins contracted 140 basis points to 15.6 per cent for the last quarter of FY26.
Its order book exceeded Rs 8,000 crore as of March 31, 2026. However, the company missed its own downgraded FY26 revenue guidance of Rs 4,100 crore, reporting lower growth than anticipated. Finance costs doubled to Rs 41 crore, and depreciation increased by 178 per cent for the reported period.
However, the stock has seen a 'buy' rating from global brokerage firm Jefferies, which has trimmed its target price to Rs 3,970 from Rs 4,515 earlier, suggesting a 23 per cent rise from its 52-week lows. The brokerage said that the Kaynes may require further fund raising, as high working capital remains a balance sheet concern.
Jefferies has cut its EPS estimates for FY27 and FY28 by 16-17 per cent to factor in the earnings miss and weak management commentary. The management did not provide any near-term outlook. The global investment banker sees Kaynes' EPS over FY26-29 to grow at 43 per cent CAGR as OSAT and PCB sales can come onstream by this financial year.
Kaynes Tech has received at least multiple downgrades on Friday from brokerages such as Avendus Spark, IIFL, JM Financial, Nomura, BNP Paribas, CLSA and Equirus Securities. Brokerage firms downgrading the stock have cut their price target by up to 25 per cent on the counter.
Avendus Spark has downgraded the stock to 'reduce' with a target price of Rs 3,208, while JM Financial and Equirus Securities have also downgraded it to a 'reduce' with cut target prices of Rs 4,350 and Rs 3,100, respectively. On the other hand, IIFL Securities has an 'add' rating on it with a trimmed target price of Rs 3,835.
Nomura and BNP Paribas have downgraded Kaynes Technology to 'neutral' rating with target price of Rs 3,719 and Rs 4,060. Nuvama Institutional Equities and CLSA have new target prices of Rs 3,550 and Rs 3,240 on the stock. Both have maintained a 'hold' rating on the stock.