Kaynes Tech shares crash over 19% after Q4 profit falls 21% YoY; JPMorgan downgrades the stock

Kaynes Tech shares: Shares of Kaynes Technology crashed more than 19% in intraday trade on Thursday, 14 May, a day after the company reported a 21% year-on-year (YoY) fall in its March quarter (Q4FY26) profit.

Kaynes Technology share price opened at ₹3,760.10 against its previous close of ₹4,177.85 and crashed as much as 19.4% to an intraday low of ₹3,366.

After market hours on 13 May, Kaynes Technology India reported its Q4FY26 consolidated profit dropped 21.5% YoY to ₹91.22 crore. In the same quarter last year, its profit was ₹116.20 crore. Q4 revenue from operations at ₹1,242.64 crore, however, saw a 26.2% YoY rise.

EBITDA at ₹193.7 crore rose by 15% YoY, but EBITDA margin dropped by 150 basis points YoY to 15.6% in Q4FY26. PAT margin dropped by 450 basis points to 7.3%.

“We achieved revenues of ₹3,626.4 crore during the FY26, registering a growth of 33% YoY. Our order book stood at upwards of ₹80,000 million as of FY26, providing strong revenue visibility for the future," said Ramesh Kunhikannan, Executive Vice Chairman and the promoter of Kaynes Technology India.

According to media reports, several brokerage firms have tweaked their estimates for the stock after the Q4 results.

CNBC-TV18 reported that JPMorgan has downgraded the stock to a "neutral" from an "overweight", trimming the target price to ₹4,000 from ₹6,000 earlier.

Kaynes Technology is an end-to-end and IoT solutions-enabled integrated electronics manufacturer in India.

Kaynes Tech share price trend

Kaynes Tech shares are down nearly 3% year-to-date compared to an 8% fall in the benchmark Sensex. Over the last year, the stock has shed 11%.

Kaynes Tech shares hit a 52-week high of ₹ 7,705 on 7 October last year, after which, it hit a 52-week low of ₹ 3,295.65 on 27 January this year.

According to Virat Jagad, Senior Technical Research Analyst at Bonanza, the stock structure has turned weak as the price has slipped below all major EMAs, signalling a breakdown in trend and deterioration in momentum.

Jagad pointed out that the RSI has dropped sharply and is now heading towards oversold territory, suggesting bearish momentum remains dominant in the near term.

"The immediate support is placed around ₹3,299, which becomes a crucial level to watch. A decisive breakdown below this support could trigger further downside, while any pullback is likely to face resistance near the ₹3,600 and ₹3,700 levels," said Jagad.

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