India · Delayed Price · Currency is INR Kaynes Technology India Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 33% YoY to INR 3,602 crore with strong EBITDA and PAT margins, but working capital and receivables in the metering business remain elevated due to installation delays. Management targets double market growth, with focus on product innovation and improved cash flows in coming quarters.
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Revenue grew 37% YoY to INR 23,837 million with EBITDA margin at 15.9% and PAT margin at 11.4%. The order book is robust at INR 90,000 million, and management maintains a $1 billion FY28 revenue target, supported by new OSAT and PCB projects and strong EMS growth.
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Q2 FY2026 saw 58% revenue growth and 80% EBITDA growth year-over-year, with strong order inflow and margin expansion. The company is advancing in semiconductor and PCB manufacturing, maintaining its $1B FY2028 revenue target, and expects improved cash flow and working capital by year-end.
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Q1 FY 2026 saw 34% revenue growth and 69% EBITDA growth year-over-year, with margin expansion and a robust order book. Guidance for FY 2026 is maintained, with positive cash flow and improved working capital expected. Strategic acquisitions and capacity expansions are on track.
Fiscal Year 2025
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Revenue grew 51% year-over-year to INR 27,218 million, with EBITDA margin at 15.1% and PAT margin at 10.8%. Order book surged to INR 65,969 million, driven by aerospace, industrial, and automotive segments, and strong growth is projected for FY 2026.
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Revenue grew 49% year-over-year for the first three quarters, with Q3 EBITDA margin at 14.2% and PAT margin at 10.1%. Order book surged to INR 60,471 million, and annual revenue growth is expected to exceed 55%. Margin guidance remains strong, with robust expansion in key verticals.