504084
Kaycee Inds. financials
- Market cap
- ₹253 Cr
- Sector
- Capital Goods
What Kaycee Inds. does
Kaycee Industries manufactures rotary switches and other electrical switchgear and allied products from its factory and sales office in Ambernath (West), Thane, Maharashtra. It operates as a subsidiary of Salzer Electronics Limited (its holding company), with which it also transacts buying/selling of products, tools and dies in the ordinary course of business. In FY25 the company acquired a 30% stake in Ultrafast Chargers Private Limited, a Bengaluru-based start-up making high-end DC fast-charging stations for electric vehicles, which became an associate entity as part of its diversification into EV charging infrastructure.
Segments
- Electrical switchgear
- EV charging infrastructure
- Manufacturing facility
- 1 factory (Ambernath West, Thane, Maharashtra)
- Associate stake — EV fast-charging
- 30% stake in Ultrafast Chargers Pvt Ltd (Bengaluru-based DC fast-charging station manufacturer)
Quarterly results
Q1 FY27: revenue up 7.8%, net profit down 19.8% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13 | 12 | 15 | 14 | 15 +12% | 14 +22% | 17 +9% | 15 +8% |
| EBITDA | 2 | 2 | 3 | 2 | 2 +3% | 2 +25% | 2 −43% | 2 −3% |
| Net profit | 2 | 1 | 2 | 1 | 1 −12% | 1 +16% | 1 −61% | 1 −20% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −35.7% 1Y
1Y: ₹1,235.55 on 10 Sept 2025 → ₹795.05. High ₹1,273.6 (11 Sept 2025), low ₹663 (20 Jan 2026).
Financials, as filed
Revenue grew 12.9% a year over 3 years, FY23 to FY26. Operating margin widened to 13.0%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹42 Cr | ₹49 Cr | ₹53 Cr | ₹60 Cr |
| Operating profit | ₹5 Cr | ₹7 Cr | ₹9 Cr | ₹8 Cr |
| Operating margin | 11.4% | 13.9% | 16.3% | 13.0% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹0 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr |
| Net profit | ₹3 Cr | ₹4 Cr | ₹6 Cr | ₹4 Cr |
| Net margin | 8.4% | 9.2% | 10.8% | 7.3% |
| Cash from operations | ₹2 Cr | ₹6 Cr | ₹6 Cr | ₹5 Cr |
| Free cash flow | ₹-3 Cr | ₹4 Cr | ₹5 Cr | ₹-0 Cr |
| ROCE | 23.6% | — | 30.3% | 22.5% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹3 Cr | ₹3 Cr |
| Reserves | ₹14 Cr | ₹16 Cr | ₹19 Cr | ₹23 Cr | ₹28 Cr | ₹30 Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹5 Cr | ₹1 Cr | ₹3 Cr | ₹1 Cr |
| Other liabilities | ₹6 Cr | ₹5 Cr | ₹5 Cr | ₹10 Cr | ₹9 Cr | ₹13 Cr |
| Total liabilities | ₹21 Cr | ₹21 Cr | ₹29 Cr | ₹35 Cr | ₹44 Cr | ₹47 Cr |
| Fixed assets | ₹3 Cr | ₹3 Cr | ₹7 Cr | ₹8 Cr | ₹7 Cr | ₹11 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹8 Cr | ₹9 Cr |
| Other assets | ₹18 Cr | ₹19 Cr | ₹22 Cr | ₹27 Cr | ₹28 Cr | ₹27 Cr |
| Total assets | ₹21 Cr | ₹21 Cr | ₹29 Cr | ₹35 Cr | ₹44 Cr | ₹47 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters trimmed −0.21 pp while the public added +0.21 pp. The shareholder count shrank 11% to 10,025.
- Promoters
- 71.7%
- DIIs
- 0.0%
- Public
- 28.3%
Since Jun 2025
- Promoters −0.21 pp
- Public +0.21 pp
- DIIs 0.00 pp
How it drifted, 12 quarters
Over this window the public went from 26.1% to 28.3% — +2.2 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 73.9%, DIIs 0.1%, Public 26.1%.Dec '23: Promoters 73.5%, DIIs 0.1%, Public 26.4%.Mar '24: Promoters 73.5%, DIIs 0.1%, Public 26.4%.Jun '24: Promoters 73.5%, DIIs 0.1%, Public 26.4%.Sep '24: Promoters 72.0%, DIIs 0.0%, Public 28.0%.Dec '24: Promoters 71.9%, DIIs 0.0%, Public 28.1%.Mar '25: Promoters 71.9%, DIIs 0.0%, Public 28.1%.Jun '25: Promoters 71.9%, DIIs 0.0%, Public 28.1%.Sep '25: Promoters 71.7%, DIIs 0.0%, Public 28.3%.Dec '25: Promoters 71.7%, DIIs 0.0%, Public 28.3%.Mar '26: Promoters 71.7%, DIIs 0.0%, Public 28.3%.Jun '26: Promoters 71.7%, DIIs 0.0%, Public 28.3%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Kaycee Inds. above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Salzer Electronics Ltd | 71.70% | unchanged |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 4.57% | unchanged |
| Anmol Sekhri Consultants Private Limited | 1.26% | unchanged |
| Salzer Ev Infra Private Limited | 0.00% | unchanged |
| Salzer Kostad Ev Chargers Private Limited | 0.00% | unchanged |
| Salzer Electronics (Arabia) Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
Growth trapTo justify its price of ₹795, this stock must grow earnings at 36% every year for 7 years. Our analysis caps realistic growth at ~6%. At that growth it is worth ₹175 — downside of 78%.
- Growth the price implies
- 35.6% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 8.0% a year
- net profit, FY23–FY26 · EPS 6.0%
- The gap
- 0.3 pp
- -78% downside if it only repeats history
Learn to analyse Kaycee Inds.
Guides on how to read this kind of business and the numbers that matter.