• Growth and margins: Kaynes Technology expects revenue growth of over 30% and full-year margins around 16–17%, recovering from minor first-quarter supply and currency headwinds.
• Cash flow targets: Operating cash flow is projected to turn positive by the third quarter, while working capital days are targeted to reduce from 163 to around 100 by Q4 FY27.
• OSAT and PCB: Commercial operations and billing have been pushed by one quarter to the October–December timeframe, with management targeting ₹250 crore in revenue from each business line (₹500 crore total).
• Smart metering strategy: The company plans to de-risk by focusing purely on meter manufacturing at a ~₹200 crore quarterly run rate, while looking to divest the remaining ~40% installation and servicing component by Q3.
• Depreciation outlook: Full-year depreciation is projected at approximately ₹160–170 crore, normalized on an even quarter-on-quarter basis following previous year-end adjustments.