Kaynes Technology reported Q3 FY26 revenue of ₹804 crore, up 21.6% year on year and down 11.3% sequentially. EBITDA stood at ₹119 crore, up 26.9% YoY, while PAT was ₹76 crore. EBITDA margin improved to 14.85% and PAT margin stood at 9.5%.
For 9M FY26, revenue reached ₹2,383 crore, up 37% YoY. The order book remains strong at around ₹9,000 crore, providing visibility of nearly 1.5 years. Management continues to target $1 billion revenue by FY28, with expected contributions from OSAT, PCB and core EMS.
The Sanand OSAT facility is operational and has secured government subsidy approvals under the semiconductor mission. A new HDI PCB facility is being set up in Chennai targeting defense and aerospace electronics.
Net working capital remains elevated at 139 days and is expected to reduce to 70–85 days by March 2026.
FY26 smart metering revenue is guided at ₹700–800 crore. Railways and Kavach orders deferred in Q3 are expected to ramp up from Q4 onward.
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