By BullScreen Editorial Team 
Shares of Kaynes Technology India Ltd. recovered sharply from the day’s lows on Monday, August 10, after falling as much as 9% in early trade following the company’s June-quarter results. The stock regained nearly 8% from its opening low within the first 30 minutes, although it remained under pressure.
Kaynes Technology reported revenue of ₹946 crore for the quarter, up 40% year-on-year and above the CNBC-TV18 poll estimate of ₹866 crore. EBITDA rose to ₹147.5 crore from ₹113 crore, also beating the ₹130-crore estimate.
However, EBITDA margin declined to 15.6% from 16.7% a year earlier, while gross margin fell to 34.4% from 41.1%. The company attributed the pressure to higher supply-chain, energy, commodity and foreign-exchange costs.
The company ended the quarter with an order book of ₹8,900 crore, up 20% year-on-year and 6% sequentially. However, its cash conversion cycle widened to 163 days from 122 days, raising concerns over working capital.
Management described FY27 as a challenging year but expects profitability to normalize over the next few quarters. Its smart metering business is expected to turn cash positive by year-end, while the company is also in advanced talks with a major global EV manufacturer.
Brokerages remain divided. Motilal Oswal retained a “Buy” rating with a ₹5,000 target, implying around 30% upside, while CLSA, JPMorgan and Nomura maintained neutral views. Kotak Institutional Equities has a “Reduce” rating with a ₹3,550 target.
Shares were trading around ₹3,655, down about 6%. The stock is also under the F&O ban, restricting the creation of fresh futures and options positions. Investors will closely track execution, margins and working-capital improvement as the Q1 results 2027 outlook unfolds.