'Buy' Kaynes Technology For Upto 48% Upside, Says PL Capital — Check Revised Target Price

Despite near-term margin pressures and working capital intensity, Kaynes’ diversified portfolio, strategic acquisitions, and tech-driven manufacturing capabilities position it as a leading player in India’s EMS and semiconductor ecosystem. The brokerage sees long-term structural growth intact, making Kaynes a compelling investment opportunity..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..PL Capital Report.PL Capital has reiterated its 'Buy' rating on Kaynes Technology India Ltd. with a revised target price of Rs 5,624 (earlier Rs 7,565), implying a potential upside of 48% from current levels. The revision follows a downward adjustment in FY26–FY28 earnings estimates by 1.8–11.5%, primarily due to margin recalibration and accounting clarifications post recent acquisitions..Management clarifies key business concerns Company hosted a conference call to address key business-related concerns, during which management provided detailed clarifications on the accounting treatment of goodwill vs intangible assets on account of Iskraemeco and sensonic acquisitions, progress on receivable management, and the steps taken to improve accuracy in related-party transactions, margin reporting, purchase price allocation, and related-party disclosures. Kaynes also provided clarity on cash flow reconciliation and broader working capital metrics. Management indicated that financing arrangements such as bill discounting and factoring are not expected to materially impact on overall profitability. Smart metering will constitute a declining portion of the portfolio as other verticals—including automotive, industrial, EV, railways, aerospace, and defense—continue to scale. The company reiterated its ongoing efforts to strengthen internal controls, enhance disclosure quality, and improve receivable management. .Click on the attachment to read the full report:.Coforge Poised For 54% Upside Projects Motilal Oswal, Stock Remains Top Pick In Mid-Tier IT Players.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

'Buy' Kaynes Technology For Upto 48% Upside, Says PL Capital — Check Revised Target Price

PL Capital sees long-term structural growth intact, making Kaynes a compelling investment opportunity.

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