Kaynes Technology (India) Ltd. reported its December quarter results on Wednesday, February 5, which were below analyst expectations on all parameters. Shares fell 6% on Friday as a result.

Revenue for the quarter was Rs 840 crore, up 21% year-on-year. The figure was well below the CNBC-TV18 poll, which had expected the company’s revenue to rise 50% to Rs 990 crore for the quarter.

Revenue was also well below the company’s guidance of Rs 1,300 crore for the quarter.
Keynes’ earnings before interest, tax, depreciation and amortization (EBITDA) rose 27.1% to Rs 119 million, while word on the street was expecting the figure to rise 67% year-on-year to Rs 157 million.

EBITDA margin for the quarter rose 60 basis points to 14.8%, significantly below expectations for margin expansion of 160 basis points to 15.8%. Profit margins also decreased from the previous quarter as Chinese parts manufacturers offered significant discounts in response to the US tariff reduction.

Net profit for the quarter rose 15% to Rs 76 million from Rs 66 million in the year-ago period. A CNBC-TV18 poll had predicted the figure to be Rs 180 crore.

The company has lowered its revenue outlook for fiscal year 2026 to 410 billion rupees from the previous 440 billion rupees. JPMorgan had expected the reduction to be 4 billion rupees. EBITDA margin guidance remains unchanged.

Keynes Tech’s share price has fallen since its opening price and is currently trading at 3,159 ₹3,159, up 2.8%. The company’s stock had already fallen nearly 5% on Thursday before the earnings release, ending a two-day winning streak that had seen it rise nearly 10% during that time.