Archive · 11 Dec 2025
Analysts Bullish on Kaynes Technology
JP Morgan and ICICI Direct, two big investment companies, think that Kaynes Technology, a company that makes electronic systems, is a good investment right now.
Even though the company's stock price has gone down a lot this year, both companies believe it will go up in the future.
JP Morgan thinks the stock could go up by about 91%, while ICICI Direct thinks it could go up by about 48%.
They think the company is doing well overall, but it's having some temporary problems with getting paid on time for the smart meters it sells and some issues with how it reports its finances.
Once those problems are fixed, the stock price should go up.
Both companies also like that the company is expanding into new areas like electronics manufacturing and semiconductor assembly, which could make it even more successful in the future.
They say the most important thing to watch right now is whether the company can get its money from customers more quickly and improve its financial reporting.
JP Morgan and ICICI Direct both recommend buying Kaynes Technology shares, with target prices of Rs 7,550 and Rs 6,400 respectively, indicating potential upsides of 91% and 48%.
The recent stock price correction is attributed to short-term liquidity strain and disclosure gaps rather than fundamental weaknesses.
Receivables from smart-meter clients have increased, putting pressure on working capital and cash flow.
Both brokerages expect the revenue mix to normalize in the second half, reducing the impact of smart-meter delays and improving cash cycles.
The OSAT and PCB segments are expected to contribute more significantly to earnings as they ramp up, with growth expected from electric vehicles, aerospace, railways, industrial electronics, and semiconductor and PCB manufacturing.
- Who
- JP Morgan, ICICI Direct, and Kaynes Technology
- What
- Analysts see significant upside potential in Kaynes Technology shares
- When
- Current analysis and future outlook
- Where
- Global market, with focus on Kaynes Technology's operations
- Why
- Due to undervaluation, improving cash cycles, and growth in core and new business segments
- Company
- Kaynes Technology
- Current Share Price Correction
- 50%
- JP Morgan Target Price
- Rs 7,550
- JP Morgan Potential Upside
- 91%
- ICICI Direct Target Price
- Rs 6,400
- ICICI Direct Potential Upside
- 48%
- Receivables from Smart-Meter Clients
- Rs 1,360 crore
- Working-Capital Days
- 116 days
- Expected Revenue Growth
- 46% annually (FY25-FY28)
- Target Working-Capital Days
- 75 days
- Downside Estimate if Receivables Stretched
- Rs 4,900
