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Business Desk- Kaynes Technology Share: May 14, Electronics Manufacturing Company, Kaynes Technology Ltd. It proved to be very difficult for the shareholders. In early trading itself, the stock fell 19.4 percent from its previous closing price.

On BSE, the share price touched a low of 3,366. There is currently selling pressure on the stock because the company’s quarterly performance did not meet expectations. Apart from this, brokerage firm JPMorgan has also reduced the rating of the stock.

For the January-March 2026 quarter, Kaynes Tech reported consolidated revenue from operations of Rs 1,243 crore, a growth of 26 per cent over last year. A year ago, this figure was Rs 984 crore. Consolidated net profit declined by 22 percent to Rs 91 crore, which was Rs 116 crore in the March 2025 quarter.

EBITDA stood at Rs 193 crore, with EBITDA margin at 15.5 per cent. Kaynes Tech’s revenue for the entire fiscal year 2026 increased by 33 percent. The management had estimated that the year would end with a growth rate of 51 percent.

Reduction in order book and debt

Kaynes Tech’s order book at the end of the financial year was Rs 8,366.3 crore. At the end of the last financial year this figure was Rs 6,596.9 crore. The net debt of the company has also reduced from Rs 581.3 crore to Rs 207.4 crore.

JPMorgan downgrades rating

Brokerage firm JPMorgan has reduced its rating on Kaynes Tech shares from the previous “Overweight” to “Neutral”. The price target for the stock has also been reduced to Rs 4,000 per share from Rs 6,000 per share earlier.

The brokerage has cut the company’s earnings estimates for the next two years by 12% to 17%. In its note, JPMorgan said revenues are expected to grow at a CAGR of 40% during fiscal 2026–2028, driven by momentum in the OSAT and PCB businesses.

However, the stock will remain a “show-me” stock until the gap between actuals and company estimates narrows. CLSA has given “Outperform” rating to this stock. Its price target has been fixed at Rs 4,200 per share.

Currently, 24 analysts are covering Kaynes Tech shares. Of these, 14 have given it a “Buy” rating, while 6 have given it a “Hold” rating and 4 have given it a “Sell” rating. The market capitalization of the company is currently Rs 22,800 crore.