Investor Update: Kaynes Technology (India) Ltd. – Q3 FY26 Review & Revised Outlook

Executive Summary Kaynes Technology management has recalibrated its full-year FY26 revenue guidance following a softer-than-expected Q3 performance. Despite the near-term revenue adjustment, the company maintains its profitability targets and long-term strategic roadmap, underpinned by a strengthening order book and robust automotive demand. 1. Revised Guidance & Strategic Outlook FY26 Revenue: Guidance revised downward to ₹4,100 Cr (previously ₹4,400 Cr). Margins: Management has maintained the EBITDA margin guidance of 16% for the full year, signaling confidence in operational efficiency. Long-Term Goal: The FY28 revenue target of $1 Billion remains unchanged. Cash Flow: CFO Jairam Sampath indicated the company is nearing positive Operating Cash Flow (OCF) on a standalone basis and expects to be OCF positive on a consolidated basis by the end of the financial year. 2. Q3 FY26 Financial Performance Revenue Miss: Q3 revenue stood at ₹804 Cr, below the management expectation of ₹1,300 Cr. 9M Performance: Cumulative revenue for the first nine months reached ₹2,384 Cr (approx. 54% of the earlier guidance). Q4 Projection: The company anticipates a strong finish to the year with Q4 revenue projected at ₹1,700 Cr. 3. Operational Highlights Order Book: Remains a key strength, growing 12% sequentially to ₹9,072 Cr, providing strong visibility for future execution. Segment Mix: Growth was polarized; the Automotive segment surged 44%, while Industrial and Railway verticals saw declines of 4% and 18%, respectively. Working Capital: Net working capital days increased to 139 days (up from 116 in H1), a key metric currently being monitored by analysts.