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KAYNES - Kaynes Tech

📊 NSE: KAYNES 🏢 Electronics - Components 📅 Last Updated: 12/14/2025 8:51

📢 Recent Corporate Announcements

Kaynes Technology: CRISIL Reaffirms 'CRISIL A/Stable' Rating for Rs 770 Cr Bank Facilities

🟢 POSITIVE ⭐ 6/10

ROUTINE 📅 13 Mar 2026, 04:34 PM

CRISIL Ratings has reaffirmed the 'CRISIL A/Stable' rating for Kaynes Technology's bank loan facilities totaling Rs 770 crore. Significantly, the rating has been removed from 'Rating Watch with Developing Implications', indicating a more certain and stable credit outlook for the company. The facilities are spread across seven major banks, with HDFC Bank holding the largest share at Rs 225 crore. This rating reflects an adequate degree of safety regarding timely servicing of debt obligations and low credit risk.

CRISIL reaffirmed 'CRISIL A/Stable' rating for Rs 770 crore in bank loan facilities.
Rating removed from 'Rating Watch with Developing Implications', signaling improved financial stability.
Bank facilities include major lenders like HDFC Bank (Rs 225 Cr), Axis Bank (Rs 130 Cr), and Canara Bank (Rs 90 Cr).
The 'Stable' outlook indicates an adequate degree of safety for debt servicing and low credit risk.

💡 The removal of the 'Rating Watch' is a positive signal of financial stability; investors should view this as a confirmation of the company's healthy credit profile while it scales operations.

Kaynes Technology Appoints Sudhasri Addepalli as CS & Compliance Officer; Anuj Mehtha Resigns

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 10 Mar 2026, 03:45 PM

Kaynes Technology India Limited has announced a transition in its Key Managerial Personnel (KMP) effective March 10, 2026. Mr. Anuj Mehtha has resigned from the position of Company Secretary and Compliance Officer to pursue external opportunities. The Board has appointed Ms. Sudhasri Addepalli as his successor, effective March 11, 2026. Ms. Addepalli is a highly qualified professional with over 27 years of experience in finance, taxation, and corporate governance.

Mr. Anuj Mehtha resigned as Company Secretary and Compliance Officer effective close of business on March 10, 2026.
Ms. Sudhasri Addepalli (ACS 79832) appointed as the new CS and Compliance Officer effective March 11, 2026.
The new appointee brings over 27 years of diverse experience and holds qualifications as a CS, CA, Cost Accountant, and Law graduate.
The Board meeting for these approvals was conducted on March 10, 2026, between 14:35 and 15:20 IST.
The transition is part of a planned management change to strengthen the company's compliance and governance framework.

💡 This is a routine management change and does not impact the company's core operations or financial outlook. Investors should view the appointment of a highly qualified professional as a positive step for corporate governance.

Kaynes Technology Appoints Sudhasri Addepalli as New Company Secretary and Compliance Officer

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 10 Mar 2026, 03:42 PM

Kaynes Technology India Limited has announced a change in its Key Managerial Personnel (KMP) following a board meeting on March 10, 2026. Mr. Anuj Mehtha has resigned as Company Secretary and Compliance Officer to pursue external opportunities. The board has appointed Ms. Sudhasri Addepalli, a highly qualified professional with over 27 years of experience, to the role effective March 11, 2026. Ms. Addepalli holds multiple professional qualifications including CS, CA, Cost Accountant, and a Law degree, bringing significant expertise in governance and finance.

Resignation of Mr. Anuj Mehtha (FCS 13802) effective from the close of business on March 10, 2026
Appointment of Ms. Sudhasri Addepalli (ACS 79832) as Company Secretary and Compliance Officer starting March 11, 2026
New appointee Ms. Addepalli brings over 27 years of experience in strategic finance, taxation, and compliance
The board meeting concluded within 45 minutes, starting at 14:35 IST and ending at 15:20 IST

💡 This is a routine administrative change in the compliance department and does not impact the company's core operations. Investors should view this as a standard transition in management personnel.

Kaynes Technology to Meet Institutional Investors in Sanand from March 11-13, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 06 Mar 2026, 05:13 PM

Kaynes Technology India Limited has scheduled a series of group meetings with prominent institutional investors and analysts between March 11 and March 13, 2026. The meetings will involve representatives from Citi, Axis Capital, Equirus Capital, and Investec. These sessions are set to take place in Sanand, Gujarat, which is a strategic location for the company's manufacturing operations. The company has confirmed that no unpublished price sensitive information will be shared during these interactions.

Four major institutional groups including Citi and Axis Capital to meet company management.
Meetings are scheduled over a three-day period from March 11 to March 13, 2026.
The venue for all meetings is Sanand, Gujarat, highlighting the importance of this industrial hub.
The company explicitly stated that no unpublished price sensitive information (UPSI) will be shared.

💡 Investors should look for any subsequent investor presentations or research notes from the participating brokerages for updates on the Sanand facility. This is a routine engagement and does not require immediate portfolio changes.

Kaynes Technology Q3 FY26: 9M Revenue Up 37%, Order Book Hits INR 90,000 Million

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 12 Feb 2026, 09:25 PM

Kaynes Technology reported a strong 9-month performance for FY26 with revenue growing 37% YoY to INR 23,837 million and EBITDA margins expanding by 190 bps to 15.9%. The company maintains a robust order book of approximately INR 90,000 million, although execution faced a 20% shortfall against internal plans due to project realignments. Key strategic milestones include the operationalization of the Sanand OSAT facility with FSA approval and a planned INR 1,500 crore investment in a Chennai PCB facility. Management aims to optimize net working capital from current elevated levels to 85 days by the end of the fiscal year.

9M FY26 revenue grew 37% YoY to INR 23,837 million with a PAT of INR 2,726 million.
Order book stands at ~INR 90,000 million, growing at approximately 50% YoY on a rolling basis.
EBITDA margins expanded to 15.9%, driven by high-margin segments like RF microwave assemblies.
FSA approval received for the Sanand OSAT facility, securing visibility for central and state capital subsidies.
INR 1,500 crore investment in HDI PCB manufacturing expected to unlock INR 15,000 crore group revenue potential.

💡 Investors should monitor the company's ability to convert its massive INR 90,000 million order book into revenue and the successful reduction of working capital days to the 85-day target. The OSAT and PCB backward integration are critical long-term margin drivers to watch.

Kaynes Technology Schedules Investor Meeting in Hong Kong for March 5, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 10 Feb 2026, 12:55 PM

Kaynes Technology India Limited has announced a meeting with institutional investors scheduled for March 5, 2026. The event, organized by Equirus, will take place in Hong Kong and may include both group and one-on-one sessions. This disclosure is part of the company's routine compliance with SEBI Listing Obligations. The company has explicitly stated that no unpublished price sensitive information will be discussed during the meetings.

Investor meeting scheduled for March 5, 2026, in Hong Kong
Event organized by Equirus involving group or individual sessions
Compliance with Regulation 30(6) of SEBI (LODR) Regulations, 2015
Company ensures no unpublished price sensitive information (UPSI) will be shared

💡 This is a routine investor engagement activity; shareholders should look for post-meeting disclosures or presentations on the company's website for potential business outlook updates.

Kaynes Technology Releases Q3 FY26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 06 Feb 2026, 05:16 PM

Kaynes Technology India Limited has officially released the audio recording of its earnings conference call for the quarter and nine months ended December 31, 2025. The call was conducted on February 06, 2026, following the disclosure of the company's financial performance. This filing is a routine regulatory requirement under SEBI (LODR) Regulations to ensure transparency for all stakeholders. Investors can access the recording on the company's website to hear management's detailed commentary on business operations and future guidance.

Audio recording for Q3 and 9M FY26 earnings call made available on February 06, 2026.
The call follows the financial results for the period ended December 31, 2025.
Filing submitted in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.
Direct link provided for investor access to management's discussion and analysis.

💡 Investors should listen to the earnings call recording to understand management's outlook on the order book and execution timelines. It is a vital resource for assessing the company's strategic direction beyond the raw financial numbers.

Kaynes Technology Reports 54% PAT Growth in 9M FY26; Orderbook Surges to ₹90,722 Mn

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 05 Feb 2026, 08:30 PM

Kaynes Technology delivered a strong performance for the nine months ended December 2025, with revenue growing 37% YoY to ₹23,837 million. Profitability saw a significant boost with PAT rising 54% YoY to ₹2,726 million and EBITDA margins expanding by 190 basis points to 15.9%. The company's order book reached a robust ₹90,722 million, providing high revenue visibility for the coming quarters. Additionally, the company is making strategic progress in semiconductors with its OSAT facility ramping up and a fiscal support agreement signed under the India Semiconductor Mission.

9M FY26 Revenue increased by 37% YoY to ₹23,837 million
9M FY26 PAT grew by 54% YoY to ₹2,726 million with margins improving to 11.4%
Order book surged to ₹90,722 million as of Dec 31, 2025, up from ₹60,471 million a year ago
EBITDA margins for 9M FY26 expanded by 190 bps to 15.9% compared to 14.0% YoY
Signed Fiscal Support Agreement under India Semiconductor Mission for semiconductor and PCB programs

💡 Investors should focus on the strong order book and margin expansion as indicators of sustained growth. The successful transition into semiconductor OSAT and PCB manufacturing provides a significant long-term valuation catalyst.

Kaynes Technology Reports Zero Deviation in Utilization of QIP Funds for Q3 FY26

🟢 POSITIVE ⭐ 4/10

REGULATORY 📅 05 Feb 2026, 08:18 PM

Kaynes Technology India Limited has officially confirmed that there were no deviations or variations in the utilization of funds raised through its Qualified Institutional Placements (QIP). The statement covers the quarter and nine months ended December 31, 2025, confirming that capital is being deployed as per the objects mentioned in the offer documents. The funds involve two separate QIP issues from December 2023 and June 2025, monitored by ICRA and CRISIL respectively. This report was reviewed and approved by the Audit Committee and Board of Directors on February 05, 2026.

Confirmed zero deviation in utilization of proceeds for the QIP allotted on December 21, 2023.
Confirmed zero deviation in utilization of proceeds for the QIP allotted on June 24, 2025.
Monitoring agencies ICRA Limited and CRISIL Ratings Limited have overseen the fund utilization.
The compliance report covers the cumulative period of nine months ending December 31, 2025.
Statement duly reviewed and approved by the Audit Committee and Board of Directors.

💡 Investors can view this as a sign of good corporate governance and financial discipline. No action is required as the company is utilizing its growth capital in line with its stated objectives.

Kaynes Technology Q3 FY26 PAT up 15% YoY; Order Book reaches ₹90,722 mn

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 05 Feb 2026, 08:09 PM

Kaynes Technology reported a strong 9M FY26 performance with revenue growing 37% YoY to ₹23,837 mn and PAT surging 54% to ₹2,726 mn. For the specific Q3 FY26 period, revenue increased 22% YoY to ₹8,040 mn, while PAT grew 15% to ₹766 mn. The company's order book has reached a record ₹90,722 mn, providing significant revenue visibility for future quarters. Strategically, Kaynes is evolving into an integrated electronics player with its new OSAT facility in Sanand and upcoming HDI PCB manufacturing.

9M FY26 Revenue grew 37% YoY to ₹23,837 mn with EBITDA margins expanding 190 bps to 15.9%.
Order book surged to ₹90,722 mn as of December 2025, compared to ₹60,471 mn in the previous year.
Q3 FY26 PAT stood at ₹766 mn, a 15% increase YoY, supported by a 24% growth in EBITDA.
Net working capital days increased to 139 days from 107 days, primarily driven by higher inventory levels.
Launched India's first commercial Multi-chip module from the Sanand OSAT facility with mass production expected by Jan 2026.

💡 Investors should remain positive on the stock given the massive order book and strategic pivot toward high-margin OSAT and PCB segments. However, monitor the rising working capital cycle and inventory levels which could impact short-term cash flows.

Kaynes Tech Q3 Consolidated PAT Rises 36% YoY to ₹866M; Revenue Up 21%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 05 Feb 2026, 07:26 PM

Kaynes Technology reported a strong year-on-year performance for Q3 FY26, with consolidated revenue growing 21% to ₹8,003.2 million and PAT increasing 36% to ₹866.4 million. However, on a sequential basis, revenue and profit saw a decline compared to the September 2025 quarter. The company recognized an exceptional loss of ₹25.36 million due to the implementation of new Labour Codes. Significant progress was noted in the utilization of QIP proceeds for debt repayment and the establishment of OSAT and PCB facilities.

Consolidated Revenue from operations grew 21% YoY to ₹8,003.21 million from ₹6,611.75 million.
Consolidated Net Profit (PAT) increased 36% YoY to ₹866.42 million, though it declined sequentially from ₹1,210.13 million.
Exceptional item of ₹25.36 million recorded as a one-time employee benefit expense due to new Labour Code implementation.
Nine-month consolidated PAT stands at ₹2,726.68 million, representing a 54% growth over the same period last year.
Utilized ₹8,412.61 million from recent QIP proceeds to fully repay outstanding indebtedness, significantly strengthening the balance sheet.

💡 Investors should view the strong YoY growth and debt reduction as positive indicators of long-term scaling. Monitor the progress of the OSAT and PCB facility establishment as these are key future margin drivers.

Kaynes Technology Q3 FY26 Consolidated PAT Grows 30% YoY to ₹866 Million

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 05 Feb 2026, 07:20 PM

Kaynes Technology reported a strong performance for the quarter ended December 31, 2025, with consolidated revenue rising 21% YoY to ₹8,003.2 million. Net profit increased by 30% YoY to ₹866.42 million, despite a one-time exceptional hit of ₹25.36 million related to new Labour Code provisions. For the nine-month period, the company demonstrated robust growth with PAT surging 54% YoY to ₹2,726.68 million. The company is actively utilizing funds from its recent ₹16,000 million QIP for debt repayment and expansion projects.

Consolidated Revenue from operations grew 21% YoY to ₹8,003.2 million in Q3 FY26.
Consolidated Net Profit (PAT) increased by 30% YoY to ₹866.42 million from ₹666.2 million.
9M FY26 PAT stands at ₹2,726.68 million, a significant 54% jump compared to ₹1,771.47 million in 9M FY25.
Recognized a one-time exceptional expense of ₹25.36 million due to incremental liability from new Labour Codes.
Successfully utilized ₹8,412.61 million from the June 2025 QIP proceeds for debt repayment.

💡 The company continues to demonstrate strong growth momentum in the EMS space with significant YoY profit expansion. Investors should monitor the timely execution of the OSAT and PCB facility projects which are key to future margin expansion.

Kaynes Technology Subsidiary Iskraemeco India Renamed to Gridcrest Technologies

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 02 Feb 2026, 05:16 PM

Kaynes Technology India Limited has announced a name change for its wholly-owned subsidiary. Formerly known as Iskraemeco India Private Limited, the entity will now operate as Gridcrest Technologies Private Limited. The change was formalized on February 02, 2026, following the issuance of a new Certificate of Incorporation by the Ministry of Corporate Affairs. This is an administrative rebranding and does not involve any change in the ownership structure or financial standing of the parent company.

Wholly-owned subsidiary Iskraemeco India Private Limited renamed to Gridcrest Technologies Private Limited.
The name change was approved and effective as of February 02, 2026.
The update was filed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
No changes to the shareholding pattern or financial commitments were reported alongside this name change.

💡 This is a routine administrative update with no impact on the company's valuation or operations. Investors should focus on the company's upcoming quarterly earnings and order book growth instead.

Kaynes Technology Receives [ICRA] A- (Positive) Rating for Enhanced ₹780 Cr Credit Facility

🟢 POSITIVE ⭐ 7/10

REGULATORY 📅 31 Jan 2026, 04:06 PM

ICRA Limited has reaffirmed the long-term credit rating of Kaynes Technology India Limited at [ICRA] A- with a Positive outlook. The rating applies to an enhanced cash credit facility totaling ₹780 crore, indicating increased liquidity access for the company's operations. This facility is distributed across major lenders including HDFC Bank (₹225 Cr), Axis Bank (₹130 Cr), and SBI (₹85 Cr). The Positive outlook reflects ICRA's expectation of continued improvement in the company's business and financial risk profile.

ICRA reaffirmed the long-term rating of [ICRA] A- with a Positive outlook.
Total rated amount for Long-term Fund-based Cash Credit stands at ₹780.00 crore.
Largest bank allocations include HDFC Bank at ₹225 crore and Axis Bank at ₹130 crore.
The rating was assigned for an enhanced amount to support growing business operations and working capital.

💡 The Positive outlook and enhanced credit limits signal strong lender confidence and growth potential. Investors should monitor if this increased leverage translates into higher revenue growth without compromising debt-to-equity ratios.

Kaynes Technology Schedules Global Investor Roadshow Across 8 Major Financial Hubs

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 28 Jan 2026, 03:22 PM

Kaynes Technology India Limited has announced an extensive schedule of analyst and institutional investor meetings spanning from February 9 to March 11, 2026. The company will engage with major firms including Nuvama, Axis, Motilal, IIFL, Equirus, UBS, and Avendus. The roadshow covers domestic meetings in Mumbai and international legs in the USA, Dubai, Hong Kong, Singapore, and London. These interactions are intended to provide business updates and engage with the global investor community.

Investor engagement scheduled across 8 distinct dates/periods between Feb 9 and Mar 11, 2026
International outreach includes 5 global locations: USA, Dubai, Hong Kong, Singapore, and London
Domestic meetings in Mumbai involve top-tier brokers like Nuvama, Axis, and IIFL
Meetings will be conducted in group or one-on-one formats to discuss company performance

💡 This is a routine disclosure; investors should watch for any updated corporate presentations released on the exchange following these meetings for insights into future growth plans.

View All KAYNES Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 50.8% YoY to INR 27,217.52 Mn in FY25. The core EMS segment remains the primary driver, while the newly acquired Iskraemeco smart metering business contributed INR 532.7 Cr in H2 FY25.

Geographic Revenue Split

Not disclosed in available documents, though the company maintains a diversified portfolio across multiple geographies and sectors to mitigate concentration risks.

Profitability Margins

Net Profit Margin improved to 10.80% in FY25 from 10.20% in FY24. Operating Profit Margin stood at 30.20% in FY25, up from 26.30% in FY24, reflecting improved debt metrics and asset turnover.

EBITDA Margin

EBITDA Margin increased by 100 bps to 15.10% in FY25 from 14.10% in FY24, driven by operational efficiency and margin expansion of 62 basis points in core operations.

Capital Expenditure

The company raised INR 1,600 Cr through a Qualified Institutional Placement (QIP) in June 2025 to fund large-scale capex for its upcoming OSAT and HD PCB divisions.

Credit Rating & Borrowing

CRISIL and ICRA maintain a Positive/Stable outlook. The company maintains a comfortable capital structure with a gearing of 0.18x and a total outside liabilities to tangible net worth (TOLTNW) ratio of 0.44x.

⚙️ Operational Drivers

Raw Materials

Key raw materials include high-definition Printed Circuit Boards (PCBs), semiconductor components, and electronic assemblies. These are critical for the EMS and upcoming OSAT divisions.

Import Sources

Not disclosed in available documents, but the company acknowledges a significant dependence on imports for key raw materials.

Capacity Expansion

The High-Definition (HD) Printed Circuit Board (PCB) and Outsourced Semiconductor Assembly and Test (OSAT) divisions are scheduled to become operational in fiscal 2026.

Raw Material Costs

Raw material costs are subject to volatility in commodity prices and foreign exchange rates. The company uses strategic procurement and scale to support long-term margin stability.

Manufacturing Efficiency

Operating efficiency is reflected in a healthy Return on Capital Employed (RoCE) and stable margins, supported by economies of scale and experienced management.

📈 Strategic Growth

Expected Growth Rate

51%

Growth Strategy

Growth will be achieved through vertical integration into the semiconductor value chain (OSAT and HD PCB divisions operational in FY26), scaling high-margin verticals, and integrating the Iskraemeco smart metering business.

Products & Services

Electronic Manufacturing Services (EMS), Smart Meters (Iskraemeco), Printed Circuit Board Assemblies (PCBA), Box Build, and upcoming OSAT services and HD PCBs.

Brand Portfolio

Kaynes Technology, Iskraemeco.

New Products/Services

Launch of OSAT and HD PCB manufacturing services in FY26, expected to significantly enhance the order book and revenue visibility.

Market Expansion

Expansion into the global semiconductor market through OSAT initiatives and strengthening presence in high-growth sectors like Aerospace and Defense.

🌍 External Factors

Industry Trends

The industry is shifting toward domestic semiconductor manufacturing and high-density electronics. Kaynes is positioning itself as an end-to-end partner by adding OSAT and PCB capabilities.

Competitive Landscape

Operates in a competitive EMS environment; focuses on scaling high-margin verticals and driving operational efficiency to maintain a competitive edge.

Competitive Moat

The moat is built on three decades of EMS experience, vertical integration into semiconductors, and a highly diversified end-user base which provides stability against industry-specific downturns.

Macro Economic Sensitivity

Sensitive to regulatory changes in government-linked sectors like Railways and Defense, which can impact project timelines and order flow.

Consumer Behavior

Increasing demand for smart metering and advanced electronic components in automotive and industrial sectors is driving the shift toward high-tech manufacturing services.

Geopolitical Risks

Dependence on imports for key electronic components makes the company vulnerable to global trade disruptions and supply chain bottlenecks.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to regulatory changes in government-linked sectors and incentive-linked programs (PLI schemes) which impact project scale-up and revenue recognition.

Legal Contingencies

Contingent liabilities increased to INR 520 Cr (18% of net worth) in FY25, primarily due to INR 190 Cr in performance bank guarantees for Iskraemeco projects and INR 130 Cr in corporate guarantees for subsidiaries.

⚠️ Risk Analysis

Key Uncertainties

Potential delays in scaling new operational expansions (OSAT/PCB) could impact revenue by delaying the realization of the current order book.

Third Party Dependencies

Significant dependency on third-party suppliers for imported semiconductors and electronic components.

Technology Obsolescence Risk

The company manages technology risk through ERP-integrated processes and a robust internal control system to ensure operational efficiency.

Credit & Counterparty Risk

Receivables are managed through active discounting of invoices under supply chain finance arrangements to maintain liquidity and reduce credit exposure.