Kinetic Engineering Ltd

BSE: 500240

₹ 218+2.47%refreshed 26 Oct, 12:48 pm ISTMarket cap: ₹ 684 crWebsite: www.kineticindia.comUpdated: 24 Oct 2026

About

Kinetic Engineering is an Indian automotive component maker that grew out of its two-wheeler manufacturing roots. It makes transmission assemblies, engine and chassis components and drivetrain parts for two-wheelers, three-wheelers and commercial vehicles, and through its subsidiary Kinetic Watts & Volts (KWV) it sells the Kinetic DX electric scooter. Reported revenue was Rs 157.75 Cr in FY26.^[1][2][3]

Business segments

Segment mix in H1 FY26: transmission 52.4%, driveline 30.4%, EV 7.1%; the EV share was 5.0% in FY24.^[2]
The EV share of the segment mix rose to 11.2% in 9M FY26, and transmission stayed the largest segment at about 49%.^[4]
The auto components business reported revenue of ₹150 crore in FY26.^[5]
The FY25 annual report shows automotive components as a single reportable segment.^[6]

Products

Core capabilities: transmission assemblies, engine and chassis components, drivetrain parts and precision-engineered components for two-wheelers, three-wheelers and commercial vehicles.^[1]
The company makes chassis for the group's E-Luna and Kinetic DX EV (as of H1 FY26).^[2]
Subsidiary KWV launched the Kinetic DX electric scooter nationally on 28 July 2025.^[6]
KWV has partnered with Jio Things to add IoT, telematics and connected features to its EVs.^[7][5]

Operations and capacity

The company's plant is on Ahmednagar - Daund Road, Ahmednagar, Maharashtra.^[1]
In Q1 FY27, 2W EV output was 75-100 units per shift per day against a standard capacity of up to 200 units.^[7]
Battery capacity (Range-X) is 60,000 units a year, as stated in the Q4 FY26 call.^[5]
The total workforce was 547 as on March 31, 2026.^[1]
In H1 FY26 the company commissioned a robotic chassis line, revamped its paint shop and added metal pressing facilities.^[2]
The company did not hedge commodities in FY26, which leaves it exposed to raw material price swings.^[1]

EV operating numbers

Monthly 2W EV volumes were starting to scale at 500-800 units in Q1 FY27.^[7]
Cumulative KWV EV sales had passed 600 units as of Q3 FY26.^[4]

Customers and distribution

The company supplies leading OEMs and customers in India and in select international markets.^[1]
Exports to the US and Mexico were 30.6% of the mix in H1 FY26; the US export mix was 30% in 9M FY26.^[2][4]
KWV appointed 35 dealers and issued 125+ letters of intent in Apr-Aug 2026, up from 20 dealerships across 7 states in Q4 FY26.^[7][5]
KWV opened Kinetic Lab, a dedicated 2W EV technical training centre for technicians, service engineers and dealer staff.^[7]
The annual reports name dependence on a few key clients and on specific platforms as a risk.^[1][6]

Expansion plans and targets

KWV targets 100+ dealers by FY27.^[7]
The company targets a run-rate of 4 lakh EV units by FY30 and up to 5% of the EV 2W market by 2030/31.^[7]
KWV targets EBITDA profitability by FY27.^[4]
Promoters aim to invest a further Rs 177 cr in KWV.^[4][6]
Several new auto component business opportunities were in the final stages of technical completion and commercial closure as of Q4 FY26.^[5]
The FY25 annual report listed an EPC solar project at Yevatmal as under construction.^[6]

Recent developments

In Q2 FY26, KEL put in an additional ₹9 crore, taking its stake in KWV to 80%.^[2]
CARE Ratings rated the bank facilities CARE BB+ (Stable) for the long term and CARE A4+ for the short term (FY26 annual report).^[1]
Other intangible assets rose to INR 380.2 Mn in FY26 from 3.9 Mn, while CWIP fell to 217.8 Mn from 357.6 Mn.^[5]

Market Cap

₹684 Cr

High / Low

₹365 / 175

Stock P/E

-51.6

Price / Book

3.8

Book Value

₹63

EPS

₹0.4

No. of Shares

2.38 Cr

ROCE

3.6%

ROE

0.8%

OPM

4.5%

Debt / Equity

0.47

Sales

₹158 Cr

Net Profit

₹1 Cr

Promoter holding

65.0%

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