Kaynes Technology Latest Updates

$KAYNES Q4 FY26 Financial Metrics: For the fourth quarter ended March 31, 2026, Kaynes Technology India Limited reported a 26.2% year-on-year increase in consolidated revenue from operations, reaching ₹1,242.64 crore. However, consolidated net profit (PAT) for the quarter fell 21.5% year-on-year to ₹91.22 crore (compared to ₹116.20 crore in Q4 FY25), heavily dragged down by a near tripling of depreciation and amortization charges ($₹54.41$ crore vs $₹16.94$ crore) alongside rising employee outlays. EBITDA Compression and Working Capital Stress: The company's quarterly operating profit (EBITDA) stood at ₹193.7 crore, with the quarterly EBITDA margin narrowing by 150 basis points year-on-year to 15.6% due to high material and employee costs. On a balance sheet level, net working capital days surged to 125 days (up from 87 days in FY25) due to a spike in trade receivables to ₹1,365 crore in the smart metering segment, triggering a negative annual operating cash flow of ₹600 crore. Japanese Semiconductor Market Push: In June 2026, Kaynes announced a major strategic expansion into Japan through its subsidiary, Kaynes Semicon. The division has deployed sales representatives locally to secure outsourced semiconductor back-end and assembly orders from Japanese automotive chipmakers. The initiative is supported by Japanese backend provider Aoi Electronics for setting up production lines and trading firm Mitsui for raw material procurement. OSAT Commercialization and Capacity Scaling: The management highlighted that its newly inaugurated Outsourced Semiconductor Assembly and Test (OSAT) facility in Sanand, Gujarat, rapidly scaled to commence commercial operations within 14 months of its groundbreaking ceremony. Concurrently, its High-Density Interconnect Printed Circuit Board (HDI PCB) manufacturing facility is nearing full operational readiness to support future high-value electronic manufacturing pipelines.