Kaynes Technology India Limited has announced operational commencement of its semiconductor assembly and testing facility at Sanand, Gujarat, and construction of a multilayer printed circuit board (PCB) manufacturing plant at Oragadam, Chennai, as part of its transition into a fully integrated electronic system design and manufacturing (ESDM) company.
The Sanand outsourced semiconductor assembly and test (OSAT) unit has begun production and delivered India’s first commercially manufactured multichip module, IPM5, developed with Alpha & Omega Semiconductor and Mitsui & Co.
“This achievement is not just a technical breakthrough. It symbolizes India’s coming of age in high-value semiconductor manufacturing,” said Ramesh Kannan, Executive Vice Chairman, Kaynes Technology. He added that anchor customers including Alpha & Omega Semiconductor (AOS) and L&T Semiconductor have already committed a majority of the Sanand plant’s capacity.
The company has also partnered with Infineon Technologies for MEMS-based true wireless stereo packaging, expanding its participation in consumer and Internet of Things (IoT) segments. About 60 percent of OSAT capacity is already booked by global and domestic clients, Kannan said.
In the PCB segment, Kaynes has received government approval for its advanced multilayer and HDI PCB project, which will be executed in two phases. The first phase at Oragadam, Chennai, will manufacture multilayer PCBs with up to 76 layers, followed by flex and HDI boards in Phase 2. A second unit near Tuticorin will produce copper clad laminates and prepreg, providing material self-sufficiency.
“We are attempting the largest scope in the PCB segment in tune with future requirements,” said Jairam P. Sampath, Whole-Time Director and Chief Financial Officer. “Orders have been placed on equipment suppliers, and production at the Oragadam facility is expected to commence by April 2026.”
Kaynes has earmarked INR 3,700 crore (USD 445 million) in capital expenditure for its semiconductor and PCB expansion, supported by central and state incentives under the Electronic Components and Semiconductor (ECMS) scheme. The company’s equity contribution will be about 30 percent of total investment, with balance funding through subsidies and internal accruals.
For the quarter ended September 2025, Kaynes reported revenue of INR 9,062 million, up 58 percent year-on-year, and profit after tax of INR 1,214 million, with a PAT margin of 13.4 percent. The order book rose to INR 80,994 million compared with INR 54,228 million a year earlier.
“By connecting PCB and OSAT capabilities, we amplify innovation, operational efficiency and product quality, yielding cost advantages and enabling Kaynes to serve end-to-end requirements for high-growth verticals,” Sampath said.
The company expects growth across automotive, industrial automation, railways, aerospace and defence, with increased traction in high-performance computing and electric vehicle components. It reaffirmed long-term revenue targets of USD 1 billion by FY2028 and USD 2 billion by FY2030.
“Our aspiration is clear — to make Kaynes synonymous with operational excellence and execution leadership,” said Dr. Muthukumar Narayanaswamy, Managing Director. “We are building a globally respected technology enterprise that powers India’s transformation into a deep-tech and manufacturing leader.”
Kaynes Technology India Limited, headquartered in Mysuru, Karnataka, provides electronic system design and manufacturing solutions for industrial, automotive, railways, aerospace and semiconductor sectors.
