Kaynes Technology India Limited — Q4FY26 earnings call summary

Filed 19 May 2026 · Official transcript

FY26 consolidated revenue INR36.26bn +33.2% y-y; EBITDA INR5.74bn +39.8% y-y; EBITDA margin 15.8%; PAT INR3.64bn, 10% margin
Q4 FY26 revenue INR12.43bn +26% y-y; EBITDA INR1.94bn; PAT INR912m; debt-to-equity ~0.2; EPS INR54.9 FY26
EMS business cash flow positive INR2.5bn FY26; metering business receivables high at INR13.65bn due to installation delays
Metering revenue ~25% of total; installation delays causing working capital stress, expected resolution in 3 quarters
Management acknowledges guidance misses due to geopolitical and execution delays; committed to improving execution and cash flow
Multiple analyst queries on metering business receivables and guidance; management committed to transparency and working capital improvement
Order book healthy at INR90bn+; diversification across automotive, EV, aerospace, railways, defense
Strategic focus on product-driven growth, new product development to contribute ~30% revenue; OSAT and PCB ramp-up ongoing