India's Kaynes Technology rises; Macquarie starts with 'outperform'

Kaynes Technology India

04/09/2025 07:14

** Kaynes Technology India KAYN.NS rises 1% to 6,813 rupees

** Macquarie starts with "outperform"; sets PT at 7,700 rupees, implying 13.4% upside to last close

** Highlights co's leadership in Electronics System Design and Manufacturing (ESDM), its aggressive growth strategy focused on diversification, revenue expansion, margin improvement

** Sees upside from global supply chain realignment, ongoing investments, under-appreciated gross margin potential

** Expects gross margin/EBITDA margin of 44%/20% by FY30, driving ROCE expansion from 13% in FY25 to 17% in FY28, 31% by FY30

** Stock rated "hold" on average; median PT is 6,500 rupees, per data compiled by LSEG

** YTD, KAYN falls 8%

 (Reporting by Rudra Pratap Singh in Bengaluru)

 ((rudrapratap.singh@thomsonreuters.com))