Industry Analysts Just Upgraded Their Kaynes Technology India Limited (NSE:KAYNES) Revenue Forecasts By 7.1%

Kaynes Technology India Limited (NSE:KAYNES) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The revenue forecast for this year has experienced a facelift, with the analysts now much more optimistic on its sales pipeline.

Following the upgrade, the most recent consensus for Kaynes Technology India from its five analysts is for revenues of ₹18b in 2024 which, if met, would be a sizeable 48% increase on its sales over the past 12 months. Per-share earnings are expected to soar 65% to ₹31.10. Prior to this update, the analysts had been forecasting revenues of ₹17b and earnings per share (EPS) of ₹28.93 in 2024. So there seems to have been a moderate uplift in analyst sentiment with the latest consensus release, given the upgrades to both revenue and earnings per share forecasts for this year.

View our latest analysis for Kaynes Technology India

Of course, another way to look at these forecasts is to place them into context against the industry itself. It's clear from the latest estimates that Kaynes Technology India's rate of growth is expected to accelerate meaningfully, with the forecast 69% annualised revenue growth to the end of 2024 noticeably faster than its historical growth of 53% over the past year. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 18% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that Kaynes Technology India is expected to grow much faster than its industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts upgraded their earnings per share estimates for this year, expecting improving business conditions. Fortunately, analysts also upgraded their revenue estimates, and our data indicates sales are expected to perform better than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Kaynes Technology India.

Still, the long-term prospects of the business are much more relevant than next year's earnings. We have estimates - from multiple Kaynes Technology India analysts - going out to 2026, and you can see them free on our platform here.

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.