BSE: 500240
KINETIC ENGINEERING LTD.
Manufactures and supplies auto components to vehicle makers including Tata Motors, Mahindra & Mahindra, and Renault, covering precision engineering, electric-vehicle components, and battery systems. Through its 84.69%-owned subsidiary Kinetic Watts and Volts Limited, the company also retails the Kinetic DX electric scooter, with cumulative sales crossing 600 units and an EV Scooter of the Year award presented by Union Minister Nitin Gadkari. Consolidated FY26 revenue was ₹157.75 crore, with raw materials the largest cost at 58.8% of revenue and capex at 23.4% of revenue. The company raised ₹39.76 crore during the year via promoter warrant conversion, lifting promoter holding to 65%. Operating cash flow was negative at ₹1,898 lakhs (consolidated) as inventory built up. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Auto components, Electric scooters (Kinetic DX). Auto components manufacturer with early-stage electric scooter operations
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 137 | 144 | 142 | 158 |
| EBITDA (ex other income) | 14 | 8 | 5 | 4 |
| margin % | 10.1 | 5.6 | 3.5 | 2.8 |
| Owners' profit | 3 | 5 | 6 | 1 |
| EPS, as reported (₹) | 1.52 | 2.23 | 2.89 | 0.43 |
| ROE % · ROCE % | 10.7 · 14.5 | 7.8 · 10.4 | 5.3 · 6.8 | 0.5 · 3.1 |
| Debt / equity (x) | 1.83 | 0.52 | 0.51 | 0.43 |
| Cash from operations | 15 | 3 | (19) | (19) |
| Capex | (4) | (9) | (44) | (37) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 40 | 35 | 29 | 39 | 35 | 39 | 38 | 45 |
| Profit before tax | 1 | 2 | 3 | 0 | 1 | (0) | 0 | 0 |
| Net profit | 1 | 2 | 3 | 0 | 1 | (0) | 0 | 0 |
| EPS (₹) | 0.23 | 0.97 | 1.41 | 0.28 | 0.27 | (0.03) | 0.09 | 0.11 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,68,649 | 38.5 | 3.86 | 15.0 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,39,432 | 59.0 | 9.39 | 34.2 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 82,909 | 117.4 | 8.68 | 29.9 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 63,127 | 52.4 | 8.69 | 29.0 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 54,893 | 43.9 | 8.93 | — | 10.4 | 14.1 | — | 19.4 |
| SONA BLW PRECISION FRGS L | 54,378 | 78.0 | 8.87 | 47.3 | 10.3 | 12.9 | — | 25.1 |
| TUBE INVEST OF INDIA LTD | 40,720 | 67.1 | 2.87 | 15.8 | 7.9 | 12.4 | 30.3 | 10.6 |
| ENDURANCE TECHNO. LTD. | 32,801 | 33.8 | 4.79 | 16.1 | 13.9 | 15.6 | 17.4 | 13.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 499.7 | 25.3 | 118 of 119 | 1% |
| P/B | 3.6 | 3.2 | 66 of 117 | 44% |
| ROCE | 0.4 | 12.6 | 116 of 125 | 7% |
| ROE | 0.5 | 11.7 | 110 of 117 | 6% |
| Debt / Equity | 0.4 | 0.3 | 68 of 117 | 42% |
| EBITDA margin | 8.1 | 12.2 | 97 of 118 | 18% |
| Revenue growth | 16.1 | 20.2 | 73 of 113 | 36% |
| Profit growth | (26.5) | 24.4 | 95 of 115 | 18% |
| Market cap | 592 | 1460 | 78 of 126 | 38% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Oct 2026 · Compliance certificate under SEBI Reg 74(5) for Sep 2026 quarter | compliance | minimal | — | — |
| 30 Sept 2026 · Independent Director Continuation Approved Post Age 75 | management changes | medium | — | — |
| 30 Sept 2026 · Shareholders approve reclassification of authorised share capital | corporate actions | medium | — | — |
| 30 Sept 2026 · 55th AGM voting results: all 6 resolutions passed with over 99.99 percent support | board shareholder meetings | low | — | — |
| 29 Sept 2026 · 55th AGM concluded - 6 resolutions passed | board shareholder meetings | medium | — | — |
| 25 Sept 2026 · Promoter group acquires 20.23 lakh shares via warrant conversion | ownership changes | high | — | — |
| 25 Sept 2026 · Promoter group Micro Age Instruments acquires 23 lakh shares via warrant conversion | ownership changes | high | — | — |
| 22 Sept 2026 · Trading Window Closure Ahead of Q2 FY27 Results | compliance | minimal | — | — |
| 16 Sept 2026 · Kinetic Engineering invests Rs 10 Cr in EV subsidiary KWVL | strategic transactions | medium | — | — |
| 11 Sept 2026 · Annual Report web link sent to shareholders without registered emails | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.