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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
Kaynes Technology India Limited is an end-to-end and Internet of Things (IoT) solutions-enabled integrated electronics manufacturer. It is engaged in providing conceptual design, process engineering, integrated manufacturing, and life cycle support for players in the…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
A middling, fast-growing business, trading cheap versus its own history — but flagged on governance.
Kaynes Technology is scored on the general / industrial framework. It keeps a slim 9.6% of every rupee of sales as net profit. Cash conversion lags the reported profit (CFO/PAT -1.65×) — worth a closer look. Free cash flow is worth about -7.0% of its market value.
Over the last 3 years revenue compounded at 49%/yr and profit at 56%/yr. Book value itself has compounded 71%/yr — the hallmark of a genuine compounder. Return on equity is a weak 7.7%. In the latest quarter profit fell 38% versus the prior quarter.
At 59× earnings, the stock sits at the 7th percentile of its own 3.6-year range — the cheap end of where it has historically traded. Today's price already implies ~25%/yr earnings growth sustained for a decade — a demanding bar. The forensic screen raises 2 red flags: Only ₹-0.70 of cash per ₹1 profit over 4 years — earnings not converting to cash; Share count up 38% over 4 years — heavy equity dilution.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 62.8 | 31.55 | worse |
| P/B | 4.57 | 4.25 | worse |
| EV/EBITDA | 29.66 | 28.53 | worse |
| ROE | 7.66 | 15.79 | worse |
| ROCE | 10.97 | 13.24 | worse |
| ROA | 5.01 | 2.94 | better |
| Quick Ratio | 1.58 | 2.52 | worse |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| LG Electronics India | 61.9 | 13.5 | 21.9% |
| Dixon Techno | 44.2 | 13.1 | 26.4% |
| Havells India | 42.4 | 7.2 | 17.0% |
Revenue has grown every year across all 4 financial years shown. 49% CAGR over 3 years — high-growth territory. Growth is decelerating — latest year grew slower than the year before.
Net profit has risen every year — the hallmark of a compounder. Profit is growing faster than revenue (56% vs 49%) — margin expansion is at work.
Operating margin has expanded from 11% to 13% — the business is keeping more of each rupee earned.
ROE at 8% — modest; the capital isn't working hard. Low variance across years — a predictable business that earns steadily on its equity base.
EPS has grown every year — each share earns more than the last, consistently. Profit grew faster than EPS (56% vs 40%) — share dilution is eroding per-share value. 40% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
3 of 4 years had negative operating cash flow — profitability on paper may not translate to cash. Investing outflows exceed operating cash — the company relies on external funding to finance expansion.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue fell 25% QoQ — could be seasonality or a genuine slowdown. Wide quarterly swings (34% spread) — likely seasonality, lumpy orders, or project-based revenue. Run-rate stepping up — recent quarters average 25% above earlier ones.
Profit fell 38% QoQ — one-quarter drops can be noise, but a pattern matters. Quarterly margins are compressing (13% → 6%) — more revenue isn't translating to proportionally more profit.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.6y median.
Promoter holding at 53.3% — majority control intact. FIIs trimmed 2.8pp — foreign money is rotating out. MF stake down 4.3pp — domestic funds are booking profits or rebalancing out.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.