Shares of Kaynes Technology India Limited continued to decline, falling 5% on Friday after a 20% drop the previous day, following the release of disappointing Q4 FY26 earnings. The company's consolidated net profit fell 22% year-on-year to ₹91 crore (approximately $11 million USD), significantly below market expectations. Revenue from operations increased by 26% to ₹1,243 crore (about $150 million USD), but this was still 27% below the company's internal target of ₹1,700 crore for the quarter. Brokerages reacted swiftly, with JP Morgan downgrading its rating from 'Overweight' to 'Neutral' and slashing its target price to ₹4,000, indicating a potential upside of nearly 20%. Other brokerages, such as Nuvama and JM Financial, also reduced their target prices significantly, citing operational weaknesses and higher working capital days. Despite the negative outlook, management remains optimistic about long-term growth prospects, emphasizing strong underlying demand and a robust order book.