Kaynes tanks 19% as Q3 revenue growth moderates; stk down 46% in Jan so far

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Kaynes tanks 19% as Q3 revenue growth moderates; stk down 46% in Jan so far - Business Standard

Quick Summary:

The company reported revenues of Rs 509 crore, up by 30% YoY, and 15.

Going forward, the incremental working capital requirements amid the expected healthy growth and large planned capex as well as its impact on the company’s overall debt levels will be a key rating monitorable, according to ICRA.

Meanwhile, Kaynes’s proposed capex towards outsourced semiconductor assembly and test (OSAT) and printed circuit board (PCB) projects, coupled with the recent acquisition of Iskramaeco India Private Limited (IIPL) are expected to bring additional sources of revenue.