Kaynes Technologies reported a 21.5% decline in profit to ₹91.2 crore for the fourth quarter, despite a 26% increase in operating revenue, which reached ₹1,242 crore. The profit drop was primarily driven by significant increases in raw material costs (up 27% to ₹848 crore), employee expenses (up 95% to ₹91 crore), and tax expenses (up 90% to ₹49 crore). Consequently, the operating margin fell by 150 basis points to 15.6%. Following these results, shares of the company, located in Mysuru, India, plummeted by 19.5%, trading at ₹3,370 on the Bombay Stock Exchange (BSE). Ramesh Kunhikannan, executive vice chairman, highlighted the rapid scaling of their OSAT unit and the nearing operational readiness of their HDI PCB manufacturing unit, which are expected to support future growth. Despite the current setbacks, analysts maintain a positive long-term outlook, projecting a 40-45% revenue and earnings compound annual growth rate (CAGR) from FY26 to FY28, contingent on improved performance.