Kaynes Technology India KAYNES

Electronic Components (ECMS): High-mix EMS (industrial, auto, aerospace, meters) building India's broadest ECMS footprint: HDI and multi-layer PCBs, laminate and camera modules in Tamil Nadu

Mapped in 4 themes: Semiconductors (Fab + ATMP), 5G/6G Telecom Buildout, Semicon 2.0 + Mobile Phones (MPMS) and Electronic Components (ECMS).

From publicly available information

Where Kaynes Technology India sits in the supply chain

Kaynes Technology India appears in 9 supply-chain layers across 4 themes: Semiconductors (Fab + ATMP), 5G/6G Telecom Buildout, Semicon 2.0 + Mobile Phones (MPMS) and Electronic Components (ECMS).

Semiconductors (Fab + ATMP) › OSAT / ATMP

Operator

OSAT/ATMP semiconductor plant (Sanand) plus PCB, EMS and system integration

Other companies in this layer

Micron Semiconductor Technology India (unlisted)Tata Electronics (unlisted)CG Power and Industrial SolutionsHCL-Foxconn Semiconductor (unlisted)SPEL Semiconductor

View in the 3D map →

5G/6G Telecom Buildout › Electronics Manufacturing Services (EMS)

Indirect supplier

Diversified EMS (auto, industrial, telecom, medical) with telecom/networking as one vertical

Other companies in this layer

Dixon Technologies Avalon Technologies Syrma SGS Technology MIC Electronics

View in the 3D map →

Semicon 2.0 + Mobile Phones (MPMS) › Chip packaging & test (OSAT)

Operator

EMS company with India's second operating chip-packaging plant (Kaynes Semicon, Sanand) and PCB/camera-module projects under ECMS

Other companies in this layer

Micron Semiconductor Technology India (unlisted)CG Power and Industrial SolutionsTata Electronics (unlisted)India Chip (HCL-Foxconn JV) (unlisted)SPEL Semiconductor

View in the 3D map →

Semicon 2.0 + Mobile Phones (MPMS) › PCBA & sub-assemblies

Direct supplier

EMS company with India's second operating chip-packaging plant (Kaynes Semicon, Sanand) and PCB/camera-module projects under ECMS

Other companies in this layer

Syrma SGS TechnologySalcomp India (unlisted)PG Electroplast Cyient DLM

View in the 3D map →

Electronic Components (ECMS) › Copper-clad laminate

Emerging entrant

High-mix EMS (industrial, auto, aerospace, meters) building India's broadest ECMS footprint: HDI and multi-layer PCBs, laminate and camera modules in Tamil Nadu

Other companies in this layer

Wipro Electronic Materials (Wipro Enterprises) (unlisted)Syrma SGS Technology

View in the 3D map →

Electronic Components (ECMS) › Multi-layer PCBs

Direct supplier

High-mix EMS (industrial, auto, aerospace, meters) building India's broadest ECMS footprint: HDI and multi-layer PCBs, laminate and camera modules in Tamil Nadu

Other companies in this layer

Amber Enterprises India Syrma SGS TechnologyShogini Technoarts (unlisted)BPL

View in the 3D map →

Electronic Components (ECMS) › HDI & flex PCBs

Emerging entrant

High-mix EMS (industrial, auto, aerospace, meters) building India's broadest ECMS footprint: HDI and multi-layer PCBs, laminate and camera modules in Tamil Nadu

Other companies in this layer

AT&S India (unlisted)Amber Enterprises India Syrma SGS Technology

View in the 3D map →

Electronic Components (ECMS) › EMS & SMT assembly

Operator

High-mix EMS (industrial, auto, aerospace, meters) building India's broadest ECMS footprint: HDI and multi-layer PCBs, laminate and camera modules in Tamil Nadu

Other companies in this layer

Dixon Technologies Syrma SGS Technology Amber Enterprises India Cyient DLM Avalon Technologies

View in the 3D map →

Electronic Components (ECMS) › Camera modules

Emerging entrant

High-mix EMS (industrial, auto, aerospace, meters) building India's broadest ECMS footprint: HDI and multi-layer PCBs, laminate and camera modules in Tamil Nadu

Other companies in this layer

Dixon Technologies Syrma SGS Technology UNO Minda

View in the 3D map →

Revenue and profit

₹ Cr	FY22	FY23	FY24	FY25	FY26
Revenue	706	1,126	1,805	2,722	3,626
Net profit	42	95	183	293	364

Latest-year revenue ₹3,626 Cr (FY26, company-wide). Wider screens show FY22 onwards.

Strengths · in Electronic Components (ECMS)

First-tranche approvals (Oct 2025) for four Kaynes Circuits projects worth ₹3,280 Cr: HDI PCB (₹1,684 Cr), copper-clad laminate (₹1,167 Cr), camera modules (₹325 Cr) and multi-layer PCB (₹104 Cr)
Chennai PCB plant described as close to going live in Aug 2026
Higher-margin industrial and aerospace book than phone-focused peers

Risks · in Electronic Components (ECMS)

Q4 FY26 profit fell ~21% and Q1 FY27 profit ~24% YoY despite 40% revenue growth
Kotak flagged accounting and disclosure issues in Dec 2025 (company disputed them); stock fell sharply
Heavy, simultaneous capex in PCBs, laminate and an OSAT plant

Common questions

What does Kaynes Technology India do?

In Electronic Components (ECMS): High-mix EMS (industrial, auto, aerospace, meters) building India's broadest ECMS footprint: HDI and multi-layer PCBs, laminate and camera modules in Tamil Nadu. NextResearch maps it in 4 supply chains: Electronic Components (ECMS), Semiconductors (Fab + ATMP), 5G/6G Telecom Buildout and Semicon 2.0 + Mobile Phones (MPMS).

Where does Kaynes Technology India sit in the supply chain?

Kaynes Technology India (NSE: KAYNES) is mapped in 9 supply-chain layers: OSAT / ATMP (Semiconductors (Fab + ATMP)), Electronics Manufacturing Services (EMS) (5G/6G Telecom Buildout), Chip packaging & test (OSAT) (Semicon 2.0 + Mobile Phones (MPMS)), PCBA & sub-assemblies (Semicon 2.0 + Mobile Phones (MPMS)) and 5 more.

Who are Kaynes Technology India's peers?

In the Multi-layer PCBs layer of Electronic Components (ECMS): Amber Enterprises India, Syrma SGS Technology, Shogini Technoarts (not NSE-listed) and BPL.

What is Kaynes Technology India's market cap and valuation?

As of 30 Oct 2026: market cap ₹21,093 Cr, P/E 60.7x, ROCE 12.7%, ROE 8.7%, dividend yield 0%.