Kaynes Tech turns focus to cash flow

NON-SMART METER GROWTH RECOVERY LIKELY TO SERVE AS A CATALYST

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KAYNES TECHNOLOGY'S STOCK has corrected nearly 30% over the past month, significantly underperforming the broader market, with the Nifty up about 1.4% during the same period.

The sharp correction has been driven primarily by investor concerns around accounting practices and working capital collection issues in the smart meter business. The management clarified that certain accounting disclosures required better explanation and presentation, acknowledging lapses in reporting rather than any governance-related issues.