Kaynes Technology shares have declined for three consecutive sessions, falling as much as 25% to hit an intraday low of ₹3,132 on the National Stock Exchange (NSE). According to reports from The Economic Times, the stock fell as much as 4.27% from its previous close of ₹3,271.90 during Monday's trading session. The sustained selling pressure follows the company's March quarter earnings that failed to meet investor expectations.
Despite the stock decline, Kaynes Technology reported strong revenue growth in the March quarter of FY26. As reported by The Economic Times, revenue from operations surged 26.2% year-on-year to ₹1,242.64 crore, compared to ₹984.48 crore in the same period last year. However, the company's consolidated net profit declined 21.5% YoY to ₹91.2 crore during the quarter, down from ₹116.2 crore in Q4 FY25. The company's EBITDA stood at ₹1,937 crore, marking a 15.4% YoY increase from ₹1,679 crore in Q4 FY25, though EBITDA margin contracted by 150 basis points YoY to 15.6%.
According to The Economic Times, net working capital days increased to 125 in FY26 from 87 in the previous fiscal year, representing the number of days it takes for the company to convert its current assets into cash. Despite the margin pressure, the company achieved significant operational milestones during the quarter. As reported by the company, FY26 revenues reached ₹3,626.4 crore, registering 33% YoY growth with steady performance in challenging market conditions.
As reported by The Economic Times, Kaynes Technology's order book stood at upwards of ₹8,000 crore as of FY26, providing strong revenue visibility for future periods. The company achieved a significant milestone with the inauguration of its OSAT (Outsourced Semiconductor Assembly and Test) facility in Sanand, Gujarat, which commenced commercial operations within 14 months of scaling up. Ramesh Kunhikannan, Executive Vice Chairman and Promoter, highlighted that the company's HDI PCB manufacturing unit is nearing operational readiness, improving execution visibility and supporting scalable growth. The company continues to see strong customer engagement and healthy long-term demand visibility across key sectors.
