Kaynes Technology India Limited
Incorporated in 2008, Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturing company. The company provides conceptual design, process engineering, integrated manufacturing, and life-cycle support for major players in the automotive, industrial, aerospace and defense, outer-space, nuclear, medical, railways, Internet of Things ("IoT"), Information Technology ("IT")…
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Kaynes Technology corrected its audited financial results for the year and quarter ending March 31. This reclassified Long Term Provisions to 12.70 Cr (from 16.75 Cr) and Short-term provisions to 5.06 Cr (from 1.01 Cr), with no change to total liabilities. Other comprehensive income items were also reclassified without affecting...
Kaynes Technology's wholly-owned subsidiary, Kaynes Semicon, inaugurated its new plant in Sanand GIDC, Ahmedabad. The facility was officially opened by Prime Minister Shri Narendra Modi, signaling a key operational expansion.
Kaynes Technology clarified financial concerns raised by an analyst. The company detailed acquisition accounting, explained increased contingent liabilities of Rs 520 Cr, and rectified previous non-disclosure of significant related-party transactions. It clarified borrowing costs are 10% and detailed intangible asset capitalization.
Kaynes Technology announced an extension to CEO Rajesh Sharma's resignation, now effective on a revised date. This change aims to ensure a smooth transition of responsibilities.
Kaynes Tech's subsidiary, Kaynes Singapore, will acquire an additional 7% stake in Sensonic GmbH from Frauscher Sensor Technology Group GmbH for One Euro. This increases Kaynes' indirect ownership in Sensonic to 61%, enhancing strategic control.