Kaynes Technology India Limited — Credit Ratings, 19-12-2025: Credit Rating

Kaynes Technology's Long-Term/Short-Term Bank facilities rating has been reaffirmed by CARE Ratings at "CARE A-; Stable / CARE A2+", maintaining a Stable outlook. This reflects its strong market position in ESDM, diversified operations, and an expanding order book of ₹8,099 Cr. While significant capex (₹4,700 Cr) is underway, subsidies and QIP proceeds are expected to limit debt. Timely project execution and subsidy receipt are key factors.