Kaynes Technology India IPO - Investment Rationale, Valuations, Strengths, Risks, Financials: Anand Rathi
With the fresh issue of Rs 5,300 million the company plans to triple its existing capacity in coming years and reduce its debt.
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Anand Rathi's IPO Report
Kaynes Technology India Ltd. is a fast-growing electronics system design and manufacturing services company with a diversified portfolio as well as business model having applications across automotive, industrials, aerospace and defence, medical devices, railways, internet-of-things etc.
Demand across the underlying sectors is likely to remain robust and Kaynes Technology is currently at an influx of this demand with support of favorable policy initiatives like production linked incentive, increasing demand for consumer and industrial electronics, changes in the global manufacturing environment and a ~30% expected growth in Indian ESDM market.
With an impressive three-year compound annual growth rate revenue/profit after tax growth of 38%/111% respectively coupled with industry leading operating margins and robust order book of Rs 22,663 million as of June 30, 2022.
Kaynes Technology will continue to move up the value chain of electronics manufacturing and services/ESDM sector.
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