Kaynes Technology India (KAYNES) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 consolidated revenue reached ₹9,844.83 million, up from ₹6,734.66 million in Q1 FY25, with PAT at ₹746 million, a 47% increase year-over-year.

• Order book increased to ₹74,011 million, reflecting strong business pipeline and demand across diversified verticals including automotive, industrial, aerospace, medical, railways, and IoT/IT.

• Strategic shift from EMS to integrated ESDM, supported by international expansion, acquisitions in Canada and Austria, and new subsidiaries in space and North America.

• Board approved unaudited financial results, new appointments, ESOP modifications, and dilution of ownership in Kaynes Semicon via convertible preference shares.

• Two QIPs completed in FY25, raising ₹30,000 million for expansion, debt repayment, and strategic investments.

Financial highlights

• Consolidated revenue for Q1 FY26: ₹9,844.83 million (+34% YoY); EBITDA: ₹1,130 million (+69% YoY), margin at 16.8%.

• PAT: ₹746 million (+47% YoY), margin at 11.1%; Basic EPS (consolidated): ₹11.63.

• Net worth rose to ₹45,028 million; net debt at ₹9,905 million, net debt to equity at 0.2.

• Net working capital days: 132; inventory days: 113–115.

• ROE: 15.4%; ROCE: 13.7% for Q1 FY26.

Outlook and guidance

• FY26 revenue guidance maintained at ₹45,000 million+, with positive operating cash flow and working capital days targeted to reach 70 by year-end, excluding extraordinary items.

• Strategic expansion into OSAT and HDI PCB segments, with new facilities in Chamarajanagar, Hyderabad, and Sanand.

• Board approved convening the 17th AGM on September 11, 2025, via virtual means.