Noida, May 14 (APAC Media): Kaynes Technology India, on May 13, reported a 22% year-on-year decline in its consolidated net profit to Rs 912 crore for the fourth quarter ended March 2026, compared with Rs 1,162 crore in the corresponding period last year.
Shares of Kaynes Technology fell as much as 10% on Thursday after multiple brokerages downgraded the stock, citing weaker-than-expected margins and a miss on guidance following the company’s quarterly results.
The electronics manufacturing services (EMS) company reported a 26% year-on-year rise in revenue from operations to Rs 12,426 crore, compared with Rs 9,845 crore in the year-ago period.
“During FY26, we achieved revenues of INR 36,264 million, registering 33% year-on-year growth, along with steady performance despite challenging market conditions. Our order book stood at over INR 80,000 million, providing strong revenue visibility going forward,” said Mr Ramesh Kunhikannan, Vice Chairman, Kaynes Technology India Ltd.
The company reported revenue of INR 36,264 million for FY26, marking a 33% year-on-year growth. EBITDA margin stood at 15.8% for the year, compared with 15.1% in the corresponding period of the previous year.
“During the quarter, we marked a significant milestone with the inauguration of our OSAT facility in Sanand, which has already commenced commercial operations within 14 months of the groundbreaking. The HDI PCB manufacturing unit is also nearing operational readiness, and with strong customer engagement and expanding capabilities, we remain confident of long-term growth prospects,” he added.
Analysts said the results reflected continued demand strength in the EMS segment, although profitability was hurt by higher operating expenses and execution challenges.
Brokerages including JPMorgan and Nuvama downgraded the stock, citing weak quarterly performance, balance sheet concerns and slower earnings conversion, media reports said.
Mysuru-based Kaynes Technology provides electronics manufacturing services across sectors, including automotive, industrial, aerospace, railways, medical devices and IoT, and has emerged as a key beneficiary of India’s growing electronics manufacturing push.
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