Kaynes Technology India Limited — Credit Ratings, 25-10-2024: Credit Rating

Kaynes Technology India Limited's Term Loan rating has been upgraded to ‘IND A-’ with a Stable Outlook by India Ratings & Research. This reflects strong revenue and EBITDA growth over FY22-FY24 due to effective order execution and a diversified order book. The company anticipates continued growth supported by robust domestic demand and government initiatives, although it faces challenges from significant capital expenditure plans and working capital intensity.