KAYNES

Kaynes Technology: Riding India's Electronics Manufacturing Boom with a ₹7,000+ Crore Order Book

Kaynes Technology India is one of India’s fastest-growing Electronics Manufacturing Services (EMS) companies, benefiting from the government's Make in India initiative, rising electronics outsourcing, and increasing domestic manufacturing of high-value electronic products. Key Financial Highlights • FY26 revenue grew over 40% YoY, driven by strong execution and increasing order inflows. • Net profit continued to grow strongly with improving operating leverage. • Order book exceeded ₹7,000 crore, providing strong multi-year revenue visibility. • Healthy EBITDA margins supported by a high-value product mix and engineering-led solutions. • Strong balance sheet supporting capacity expansion and future growth. Investment Rationale • Major beneficiary of India's electronics manufacturing boom. • Strong presence across aerospace, defense, automotive, industrial, medical, and IoT sectors. • Large order book provides long-term earnings visibility. • Expanding into semiconductor and advanced electronics manufacturing opportunities. • High entry barriers due to engineering expertise and customer qualifications. • Supported by government incentives such as PLI and localization initiatives. With strong demand for electronics manufacturing, a robust order pipeline, diversified end-market exposure, and leadership in high-value EMS solutions, Kaynes Technology is well-positioned to capitalize on India's emergence as a global electronics manufacturing hub and deliver strong long-term growth.