Kaynes Tech Q4 FY26: Sales up 26% in 2026

What Kaynes Technology reported for March 2026

Kaynes Technology India Ltd reported its consolidated results for the quarter ended March 2026 with net sales of ₹1,242.64 crore. This was up 26.22% year-on-year from ₹984.48 crore in March 2025. EBITDA for the quarter stood at ₹235.55 crore, up 25.07% from ₹188.33 crore a year ago. Despite the rise in revenue and operating profit, quarterly net profit fell to ₹91.22 crore. That was down 21.5% year-on-year from ₹116.20 crore in March 2025.

Profit and EPS fell even as revenue grew

The company’s EPS declined to ₹13.32 in March 2026 from ₹18.12 in March 2025, in line with the lower net profit reported for the quarter. The same results set shows higher depreciation in March 2026 at ₹54.41 crore compared with ₹16.94 crore in March 2025. Employee cost also rose to ₹90.76 crore from ₹46.62 crore over the same period. Raw material consumption increased to ₹920.89 crore from ₹637.56 crore, reflecting the higher scale of operations. The company also reported a negative stock change of -₹72.37 crore versus a positive ₹31.10 crore in March 2025.

Sequential context: March 2026 versus December 2025

The table shared alongside the March quarter results shows net sales of ₹804.03 crore for the quarter ended December 2025. Against that base, March 2026 sales of ₹1,242.64 crore indicate a strong sequential increase in revenue. The same table lists key cost heads for both quarters, including raw material consumption of ₹569.37 crore in December 2025 and depreciation of ₹20.40 crore. Other operating income was shown as “--” for the periods presented. The company’s quarterly disclosure therefore points to growth in scale, along with a meaningfully higher depreciation charge by March 2026.

Q3 FY26 (December 2025): growth with mixed margin signals

For the quarter ended December 31, 2025 (Q3 FY26), the article data includes multiple disclosures on performance. It states net profit rose 15.4% year-on-year to ₹76.6 crore versus ₹66.4 crore, while revenue rose 21.6% to ₹804 crore versus ₹661 crore. EBITDA for Q3 FY26 was cited at ₹119 crore, up 26.9% year-on-year from ₹94 crore, with margin at 14.8% versus 14.2% year-on-year. Separately, the investor presentation numbers in the text describe revenue of ₹804.0 crore, EBITDA of ₹116.8 crore (excluding other income), EBITDA margin of 14.5% (up 30 bps), and PAT of ₹76.6 crore.

Q2 FY26 and the order book update

The same set of article inputs also references a “strong performance in Q2 FY26”. It states consolidated net profit jumped 102% year-on-year to ₹121.4 crore, while revenue rose 58% to ₹906.2 crore. An order book figure of ₹8,099.4 crore as of 30 September 2025 was also cited, compared with ₹5,422.8 crore a year earlier. These figures were positioned as evidence of strong execution momentum and demand visibility during FY26. They also provide context for the higher March 2026 revenue base.

Stock moves and what triggered volatility

Kaynes Tech shares closed at ₹4,049.30 on May 11, 2026 (NSE), as per the provided text. The inputs also cite a session where shares surged 14.10% to end at ₹4,335.50 on the BSE. In contrast, another portion states the stock slumped 12.26% after a domestic brokerage flagged “inconsistencies” in related-party disclosures. According to the broker note cited, mismatches were identified in FY2025 filings made by Kaynes Technology, Kaynes Electronics Manufacturing, and subsidiary Iskraemeco, raising concerns about inter-company transactions and year-end balances.

Subsidiary name change in February 2026

The company also announced a name change of its wholly owned subsidiary. ISKRAEMECO INDIA PRIVATE LIMITED was renamed to GRIDCREST TECHNOLOGIES PRIVATE LIMITED, effective February 02, 2026. The update is part of the broader set of corporate developments mentioned alongside quarterly performance disclosures. No additional operational or financial impact of the name change was specified in the provided text.

Key numbers snapshot (consolidated)

Timeline of disclosed events

Market impact and why this quarter matters

The March 2026 numbers show a clear split between growth in sales and EBITDA, and a decline in reported profit and EPS. In the disclosed cost lines, depreciation rose sharply year-on-year, and employee costs also increased, while raw materials scaled up with revenue. For investors, the period also included headline-driven volatility tied to a brokerage note on related-party disclosure inconsistencies, alongside earlier optimism reflected in a sharp up-move in the stock. Together, these data points place focus on the sustainability of earnings conversion from revenue growth, and on disclosure quality, given the concerns raised in the brokerage commentary cited.

Conclusion

Kaynes Technology’s March 2026 quarter delivered 26.22% year-on-year sales growth to ₹1,242.64 crore and a 25.07% rise in EBITDA to ₹235.55 crore, but net profit fell 21.5% to ₹91.22 crore and EPS dropped to ₹13.32. The quarter sits against a FY26 backdrop that included strong Q2 growth, steady Q3 expansion, and an order book update as of September 2025. The stock’s recent moves also reflect competing narratives from quarterly performance and the brokerage’s disclosure-related concerns. The next set of company updates and filings will be watched for clarity on these issues and for confirmation of operating momentum.