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Release
August 2026 · rev 1
Opportunities PMS · Published
As at 31 Aug 2026 · IST₹ · ₹ cr · BSE 500 TRI
Present
Internal working platform. Published figures are extracted from the August 2026 source package and reviewed; reference prices and fundamentals are unlicensed working data, not for redistribution. Past performance is not indicative of future returns.
Company Atlas/Info Tech/Kaynes Technology India
NSE: KAYNES· Info TechTurnaround · Aug 26Small cap

Kaynes Technology India

EMS + semiconductor (OSAT/PCB)

Last close
₹3,511.50
29 Sept 2026 · reference
1D · 1M
−4.0% · −10.9%
price-only
Weight
2.4%
31 Jul 2026 · Aug rank 12
Thesis review
8 Sep 2026
Why We Own, p46
Coverage owner: Research (per book); latest results Q Jun-26Buoyant AIF I Top 30 Holdings - Aug 2026.pdf · p1Buoyant_Why_We_Own_What_We_Own_Sep2026.pdf (portfolio as of 31 July 2026) · p46Screener ↗Tijori ↗NSE ↗
OverviewBusiness & segmentsChartsFinancialsValuationThesisRisks & catalystsCompetitorsResearch & documents
Where the price sits

52-week range, house target and street targets

52w low ₹3,00152w high ₹7,593
  • Reference close₹3,512
  • Antique Stock Broking Limited · HOLD₹3,553
  • Motilal Oswal · Buy₹5,000

Range from reference closes; street targets from the PDFs on file (Research & documents). Internal target is never shown to prospects.

Investment case and valuation

Approved model, 8 Sep 2026 review

₹3,669
Price (2026-09-08)
60.9x / 46.6x
FY27E / FY28E P/E (Buoyant sheet)
11.3%
FY27E ROE (Buoyant sheet)
71.0x
Trailing P/E
5.1x
Price / book
20%
EPS CAGR FY26–28E

TTM P/E 71x; stock is -49% over 1 year (52-wk range Rs 2,995-7,705) so the multiple has compressed sharply from >100x at the 2025 peak, though 5-yr average P/E not sourced. EV/EBITDA computed on Rs 25,466 cr EV (mcap + ~Rs 800 cr net debt) / TTM EBITDA Rs 609 cr. EV/EBITDA 41.8x; dividend yield 0.0%.

Model date
8 Sep 2026 (prices 7–8 Sep 2026)
Horizon
12 months (bank pages: Sep-2027 roll-forward)
Audience
Internal — the book's guardrail: do not quote a target to a client; quote the thesis and the risk
Reviewer · version
Investment Committee framework · v1 (book)
Current vs history

Trailing multiples, FY-end

RatioFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
P/En.m.n.m.n.m.n.m.n.m.n.m.58.8x99.9x103.0x60.5x
Price to Bookn.m.n.m.n.m.n.m.n.m.n.m.5.8x7.4x10.7x4.8x

Tijori FY-end multiples on reported earnings/book; compatible definitions across years, but not the same basis as Buoyant's forward P/E on internal EPS.

UnavailableScenario lab disabled. Needs an approved forward EPS and forward P/E for Kaynes Technology India plus a reference price. Missing inputs are not substituted.