Kaynes Technology India said that its wholly owned subsidiary, Kaynes Circuits India has entered into a non-binding memorandum of understanding (MoU) with Government of Tamil Nadu to establish manufacturing facilities in Tamil Nadu.
Under the MoU, Kaynes Circuits India proposes to invest approximately Rs 4,995 crore over a period of 6 years for the establishment of manufacturing facilities, including greenfield projects and capacity expansions within Tamil Nadu.The MoU is intended to explore the financial incentives and industrial policies available under the Government of Tamil Nadu, as well as any structured assistance packages that may support the proposed investment through subsidies and other financial benefits.
The Government of Tamil Nadu, through Guidance, has agreed to provide necessary facilitation and support, including assistance with infrastructure and regulatory clearances, in line with applicable laws and policies.
Kaynes Technology India is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturer in India, having capabilities across the entire spectrum of electronics system and design manufacturing (ESDM) services.
The companys consolidated net profit jumped 49.96% to Rs 74.61 crore on 33.63% increase in revenue from operations to Rs 673.46 crore in Q1 FY26 over Q1 FY25.
The counter fell 1.17% to settle at Rs 6295.90 on the BSE.
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