Kaynes Technology India Limited — Credit Ratings, 31-05-2025: Credit Rating

Crisil Ratings has reaffirmed Kaynes Technology India Limited’s long-term bank facilities at ‘CRISIL A’ with a positive outlook. This reflects the company’s strong market position, diverse industry exposure, and robust financial health, highlighted by a low gearing ratio of 0.31x and cash/liquid assets of around Rs 1,100 crore (₹1,100 Cr) as of March 2025. A strong order book of Rs 6,596 crore (₹6,596 Cr) provides solid medium-term revenue visibility. Moderate capex plans of about Rs 4,700 crore (₹4,700 Cr), mostly funded through government grants and internal accruals, limit additional debt. The positive outlook indicates steady profitability and timely project execution, supporting stable borrowing costs and reinforcing investor confidence.