Kaynes Technology India Limited (KTIL) announced key outcomes from its board meeting held on November 14, 2026. The board approved the unaudited standalone and consolidated financial results for the second quarter and half year ended September 30, 2026. Additionally, KTIL approved the execution of a Joint Venture Agreement with Toyokawa Techno Private Limited to establish a manufacturing, assembly, and testing venture for Thin-Film Transistor (TFT) Modules. The company also proposed the voluntary strike-off of its subsidiary, Kaynes Embedded Systems Private Limited.
Board Approves Financial Results and Strategic Joint Venture
Kaynes Technology India Limited (KTIL) has announced significant developments following its Board of Directors meeting on November 14, 2026. The meeting resulted in the approval of the company’s unaudited financial results for both standalone and consolidated operations for the second quarter and half year ended September 30, 2026. These results, prepared under Indian Accounting Standards (Ind-AS), have been duly reviewed and are attached as Annexure A.
Expansion into TFT Module Manufacturing
In a strategic move to expand its business verticals, KTIL’s board has also given its approval for the execution of a Joint Venture Agreement with Toyokawa Techno Private Limited. This collaboration aims to establish a joint venture (JV) in India focused on the manufacturing, assembling, testing, and supplying of Thin-Film Transistor (TFT) Modules and related products. Further details regarding this proposed joint venture, as per listing regulations, are provided in Annexure B.
Subsidiary Strike-off
Furthermore, the board proposed the voluntary strike-off of Kaynes Embedded Systems Private Limited (KESPL), a subsidiary of KTIL. This proposal is in accordance with Section 248(2) of the Companies Act, 2013, and is subject to the completion of necessary statutory formalities. Details concerning the proposed strike-off are outlined in Annexure C.
Auditor Review
Independent auditor reports from Walker Chandiok & Co LLP confirm the review of both standalone and consolidated unaudited financial results. The reports, dated November 14, 2026, indicate that based on their reviews, nothing has come to their attention that causes them to believe the accompanying statements contain material misstatements. Attention is drawn to Note 9 of the standalone results and Note 10 of the consolidated results regarding restatements made to comparative financial information for prior period errors.
Financial Highlights
The unaudited standalone financial results for the quarter ended September 30, 2026, show a profit before tax of ₹1,270.17 million. Total comprehensive income for the period stood at ₹956.89 million. On a consolidated basis, for the same period, the profit before tax was ₹647.31 million, with total comprehensive income at ₹323.63 million. The full financial statements, including the balance sheet and cash flow statements for both standalone and consolidated entities, are provided as Annexures to this disclosure.
Source: BSE
