Kaynes Technology shares dropped as much as 8% following the release of its first-quarter results for fiscal year 2027.
Consolidated net profit declined 24.4% year-over-year to Rs 56.4 crore. Revenue from operations surged 40% to Rs 946 crore during the same period.
EBITDA margins contracted by 120 basis points to 15.6%. Higher raw material costs and increased depreciation expenses drove the drop in profitability.
The company's order book grew over 20% to reach Rs 8,904 crore. Brokerages expressed mixed reactions, citing concerns over working capital against strong long-term growth prospects.