Kaynes Technology India Ltd
Kaynes Technology India Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Kaynes Technology aims to achieve $1 billion revenue by FY '28, targeting more than that while possibly delivering around $1 billion. Kaynes Technology targets over $1 billion revenue by FY '28, indicating more than double current levels, driven by strong EMS (Electronics Manufacturing Services) growth and increasing ODM (Original Design Manufacturing) business.
From Kaynes Technology India Ltd's Q3 FY26 earnings-call transcript · updated 26 Aug 2026.
Revenue & Sales Performance
- Kaynes Technology aims to achieve $1 billion revenue by FY '28, targeting more than that while possibly delivering around $1 billion.
- Smart meter business expected to grow at ~30% year-on-year for the next 4-5 years due to high market demand.
- Core EMS business and ODM/product engineering targeting robust growth, with expectations of 40% growth excluding metering segment over 9 months FY '26.
- Order book growing at ~50% per annum, indicating strong future execution pipeline.
- Diversification across segments like aerospace, automotive, railways, EV, and industrial non-meter based products to drive broad-based growth.
- OSAT and PCB businesses are scaling up, targeting about INR1,500 crores each, contributing to consolidated growth.
- Anticipated product ramp-ups in railway and aerospace sectors in upcoming quarters.
- Company emphasizes long-term growth over quarterly fluctuations, with order book visibility for 12-18 months ensuring steady revenue capture.
Profitability & Margins
See what Kaynes Technology India Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Kaynes Technology is undertaking significant capex primarily in OSAT and PC Board businesses.
- Planned capex: approximately INR 400 crores to be spent in Q4 FY '26; cumulative INR 1,400 crores for PC Board business; INR 1,700-1,800 crores for OSAT Phase 1.
- No significant new capex planned for EMS segment except small amounts for debottlenecking to improve asset turnover.
- OSAT capex benefits from 50% central and 20% state government subsidies; FSA approval received for OSAT at Sanand.
- PCB HDI multilayer facility in Chennai is a strategic investment targeting INR 15,000 crores business potential.
- Company is adequately funded for these investments and does not plan any QIP/dilution.
- Capex implementation is milestone-driven to accelerate cash flow generation from new businesses.
- By FY '28, all three businesses (EMS, OSAT, PC Board) are expected to generate positive operating cash flows.
Top-ranked in Industrial Manufacturing
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Kaynes Technology India Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current order book: INR 9,000 crores (approximately 1.5 years' worth of orders on a rolling basis).
- Order book mix: Around 20% constituted by ODM products (smart meters and similar products), and remaining is mainly EMS business plus PCB and OSAT segments.
- No significant concentration in any one customer or sector; top customer contributes less than 6% of turnover.
- Order book growing at ~11.5% quarter-on-quarter, leading to about 50% annual growth in order inflow.
- Some orders (like railway Kavach safety product worth INR 3 billion) have faced postponements due to design improvements.
- Orders span diverse sectors: automotive, EV, aerospace, railways, industrial non-meter products.
- Additional OSAT business targeting INR 1,500 crores, and PCB business targeting INR 1,000 crores revenues.
- Some projects/orders deferred to Q4 or next fiscal year but overall order backlog remains robust.
Kaynes Technology India Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.2K Cr, net profit ₹91 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Kaynes Technology India Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Kaynes Technology India Ltd Q3 FY26 results?
Kaynes Technology aims to achieve $1 billion revenue by FY '28, targeting more than that while possibly delivering around $1 billion. Kaynes Technology targets over $1 billion revenue by FY '28, indicating more than double current levels, driven by strong EMS (Electronics Manufacturing Services) growth and increasing ODM (Original Design Manufacturing) business.
What is Kaynes Technology India Ltd share price analysis?
Kaynes Technology India Ltd currently shows a neutral. The stock trades at a P/E of 75.3 with a market cap of ₹26,150 Cr. Investors should review the full earnings analysis for detailed insights.
Is Kaynes Technology India Ltd planning capital expenditure?
Kaynes Technology is undertaking significant capex primarily in OSAT and PC Board businesses.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.