Kaynes Tech Shares Recover After Q1 Revenue Growth

Kaynes Technology shares fell 9% on August 10 following Q1 results, but recovered quickly after reporting revenue of ₹946 crore, a 40% year-on-year growth exceeding the ₹866 crore estimate.

EBITDA reached ₹147.5 crore with margins at 15.6%, while the company's order book grew 20% year-on-year to ₹8,900 crore, despite a rise in the cash conversion cycle to 163 days.

Brokerage firm Motilal Oswal maintained a 'buy' rating with a ₹5,000 price target, citing a 41% projected revenue CAGR through 2028, despite analysts noting concerns over rising working capital days.