The shares of the semiconductor company, specializing in integrated electronics manufacturing, IoT solutions, product design, engineering, and OEM/ODM services, jumped upto 2 percent after it announced plans to deliver India’s first packaged chip by July. Additionally, the Board also approved the incorporation of “Kaynes Space Technology Private Limited” with an initial investment of up to Rs. 700 million.
Price action
With a market capitalization of Rs. 30,469.77 crores on Tuesday, the shares of Kaynes Technology India Ltd hit a 2.2 percent upper circuit, making a high of Rs. 4846.40 per share compared to its previous closing price of Rs. 4741.35 per share.
What Happened
Kaynes Technology India Ltd, engaged in integrated electronics manufacturing and IoT solutions, product design, engineering, and OEM/ODM services, has announced plans to deliver India’s first packaged chip by July.
Mysuru-based Kaynes Semicon is set to become the first company in India to produce packaged semiconductor chips by July 2025. This milestone is part of the India Semiconductor Mission 1.0.
The company is expected to deliver initial production samples to Alpha Omega Semiconductor from the US under a multi-year agreement. The pilot production line is almost complete, with plans for qualification testing by June. The facility in Gujarat, backed by significant government funding, aims to produce up to 6.3 million chips per day and is a key part of India’s semiconductor development.
Additionally, the Board approved the incorporation of a wholly owned subsidiary, “Kaynes Space Technology Private Limited,” with an initial investment of up to Rs. 700 million. The main object of the proposed WoS is to develop large, medium, small, micro, and nano satellites with viable payloads and launch Vehicles and to focus on mastering the end-to-end realization of satellite launches, post-launch activities.
About the Company
Kaynes Technology India Ltd is a leading provider of integrated electronics manufacturing services, specializing in product design, engineering, and IoT solutions. The company offers OEM/ODM services across industries like automotive, aerospace, and industrial electronics. With a focus on innovation, Kaynes provides end-to-end solutions from product development to manufacturing.
Order Book
Kaynes Technology is experiencing strong business growth, with its order book increasing from Rs. 5,422.8 crores at the end of Q2 FY25 to Rs. 6,047.1 crores by the end of Q3 FY25. This notable rise highlights a growing demand and a solid lineup of upcoming projects.
Capex Plans
Kaynes Technology is set to invest Rs. 4,800 crores in upcoming projects over the next few years. This includes Rs. 2,800 crores for building a semiconductor OSAT and compound semiconductor facility in Kongara Kalan, near Hyderabad.
Financials
The company’s revenue rose by 32.22 percent from Rs. 518.71 crore to Rs. 685.82 crore in Q3FY24-25. Meanwhile, Net profit rose from Rs. 45.19 crore to Rs. 66.46 crore during the same period.
Written by Sridhar J
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