Kaynes Technologies shares gain 3% on appointment of new MD; details here

Kaynes Technologies shares rose for the second day and currently trade at the highest level since January 6

Shares of Kaynes Technologies rose nearly 3 per cent on Wednesday after the company appointed Muthukumar Narayanaswamy as the Managing Director for a period of five-year term.

 

The industrial products maker's stock rose as much as 2.98 per cent during the day to ₹7,457.5 per share, the biggest intraday rise since September 23 this year. Kaynes Technologies stock pared gains to trade 1.7 per cent higher at ₹7,367 apiece, compared to a 0.39 per cent decline in Nifty 50 as of 11:43 AM. 

 

Shares of the company rose for the second day and currently trade at the highest level since January 6. The counter has fallen 0.5 per cent this year, compared to a 6 per cent advance in the benchmark Nifty 50. Kaynes Technologies has a total market capitalisation of ₹49,724.97 crore. 

Kaynes Technologies appoints new MD

The company on Wednesday announced leadership changes with the appointment of Muthukumar Narayanaswamy as managing director for a five-year term, effective September 24, 2025. His appointment was recommended by the nomination and remuneration committee and is subject to shareholder approval.

 

Narayanaswamy has held senior leadership roles across multiple companies, including President & COO (India Leader) at Cummins Meritor, Vice President (Operations) at TTK LIG, global SSL leadership, and positions at TVS Srichakra and Sundaram Rubber.

 

The company also approved the re-designation of Ramesh Kunhikannan, its current managing director, as executive vice chairman in the category of whole-time director. His revised term will run from September 24, 2025, to March 31, 2029, within the original tenure ending March 31, 2029, and is subject to shareholder approval.

 

Kunhikannan has over 36 years of experience in the electronic manufacturing services industry, the company said. 

 

Last week,  the company announced the resignation of Rajesh Sharma from the position of chief executive officer (CEO) and key managerial personnel, effective 31 October 2025.  Track Stock Market Live Updates

Kaynes Technology Q1FY26 earnings

The company's profit after tax (PAT) for the quarter ended June 30, 2025, stood at ₹74.6 crore, as compared to ₹50.8 crore recorded in the corresponding quarter of the last financial year, marking a 47 per cent increase. Consolidated revenue surged 34 per cent year-on-year (Y-o-Y) to ₹673.5 crore during the quarter under review.

 

Profit margins for Q1FY26 stood at 11.1 per cent, indicating a rise of 100 basis points (bps). The company's earnings before interest, taxes, depreciation and amortisation (Ebitda) stood at ₹113 crore, indicating a 69 per cent rise from ₹66.9 crore reported in the year-ago period.