What was Kaynes Technology India's revenue in Q4 FY26?

Kaynes Technology India reported revenue of ₹1,243 Cr in Q4 FY26, a +33.2% change year-over-year.

Did Kaynes Technology India management deliver on previous promises?

Scorecard data is being built as historical quarters are processed.

Kaynes Technology India Q4 FY26 Research Workspace: Revenue ₹1,243 Cr (+33.2%)

Q: What guidance did Kaynes Technology India management give?

Double the market growth rate in FY27: Management commits to growing at 2x the EMS market growth rate (market expected 15-16%), but does not provide a specific revenue number.

Revenue ₹1,243 Cr +33.2%

EBITDA ₹574 Cr +39.8%

PAT ₹91 Cr

EBITDA Margin 16%

Duration 63 min

Read Time 1 min read

✓ Verified against BSE filing

2-Minute Summary

✦ AI-Generated from Full Transcript

Kaynes Technology reported FY26 revenue of ₹3,626.4 crore (+33.2% YoY) and EBITDA of ₹574.1 crore (+39.8% YoY), with EBITDA margin at 15.8%. Q4 revenue was ₹1,242.6 crore (+26% YoY). However, the company missed its initial guidance of ₹4,500 crore, blaming geopolitical disruptions and customer deferrals. The smart metering subsidiary (₹971 crore revenue) caused a sharp rise in receivables to ₹1,365 crore, leading to negative operating cash flow of ₹600 crore. Management declined to give numerical guidance for FY27, only committing to "double the market growth rate" (market growing 15-16%). Key risk: working capital stress from metering business may persist, with management admitting it will take three quarters to reverse the trend.

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Risk Intelligence

Working capital stress from metering business

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Quarter Snapshot

Order Book ₹9,000+ crore

N/A

Order book remains healthy and diversified, with non-cancellable nature.

Smart Metering Revenue ₹971 crore

+21% YoY

Metering subsidiary contributed ~24% of total revenue, but with high receivables.

Metering Receivables ₹1,365 crore

+162% YoY

Receivables surged due to delayed installations in rural states; management targets reduction in 3 quarters.

EMS Working Capital Days 53 days

-30 days YoY

Core EMS business improved working capital efficiency from 83 days in FY24 to 53 days in FY26.

Fast read

Guidance and risk preview

Top guidance Double the market growth rate in FY27

Management commits to growing at 2x the EMS market growth rate (market expected 15-16%), but does not provide a specific revenue number.

Top risk Working capital stress from metering business

Metering subsidiary has ₹1,365 crore receivables, causing negative OCF of ₹600 crore.