Kaynes Technology India Limited (KTIL) announced that its Board of Directors has approved the unaudited financial results for the second quarter and half-year ended September 30, 2026. The board also approved the execution of a Joint Venture Agreement with Toyokawa Techno Private Limited for manufacturing Thin-Film Transistor Display Modules, with KTIL holding a 90% stake. Additionally, the board approved the voluntary strike-off of its subsidiary, Kaynes Embedded Systems Private Limited.
Board Approves Financial Results and Strategic JV
Kaynes Technology India Limited (KTIL) has announced key decisions from its Board of Directors meeting held on November 14, 2026. The board has approved the unaudited financial results, both standalone and consolidated, for the second quarter and the half-year ended September 30, 2026. These results, prepared as per Indian Accounting Standards (Ind-AS), have been submitted along with the Limited Review Reports.
Joint Venture with Toyokawa Techno
A significant strategic move includes the approval for entering into a Joint Venture Agreement with Toyokawa Techno Private Limited. This venture aims to establish a new entity in India focused on the manufacturing, assembling, testing, and supplying of Thin-Film Transistor (TFT) Modules and related products. Upon completion of the transaction, the JV will be a wholly owned subsidiary of KTIL, with the shareholding structured as 90% for KTIL and 10% for Toyokawa. The scope of business for the JV will encompass the entire value chain for TFT modules in India, with KTIL providing operational and management support, and Toyokawa offering technical support.
Subsidiary Strike-off Approved
In another development, the Board has approved the proposal for the voluntary strike-off of Kaynes Embedded Systems Private Limited (KESPL), a subsidiary of KTIL. This action is pursuant to Section 248(2) of the Companies Act, 2013, and is subject to the completion of necessary statutory formalities. The net worth of KESPL as at March 31, 2026, was reported as Rs. 50,00,000, and it did not contribute any revenue or net worth to the company in the last financial year, being non-operational.
Financial Highlights Overview
The un-audited standalone financial results show a total income of ₹7,337.83 million for the quarter ended September 30, 2026, with profit before tax at ₹1,270.17 million. For the six months ended September 30, 2026, total income stood at ₹13,533.70 million, and profit before tax was ₹2,217.40 million. Consolidated figures indicate a total income of ₹9,711.30 million for the quarter and ₹19,338.63 million for the six-month period ended September 30, 2026, with profit before tax at ₹647.31 million and ₹1,419.52 million, respectively.
The company’s consolidated statement of assets and liabilities as at September 30, 2026, shows total assets of ₹77,899.67 million and total equity and liabilities of ₹77,899.67 million.
The cash flow statement for the six months ended September 30, 2026, indicates net cash generated from financing activities of ₹1,594.35 million, while cash flow from operating and investing activities resulted in a net decrease in cash and cash equivalents of ₹1,965.08 million.
Source: BSE
