Latest news with #Kaynes
Time of India
7 hours ago
- Automotive
- Time of India
Kaynes Semicon, L&T arm to acquire Fujitsu General's power modules business
Kaynes Semicon and L&T Semiconductor Technologies (LTSCT) are acquiring Japanese Fujitsu General 's power modules business for Rs 118.34 crore. Fujitsu will transfer the business to Larsen & Toubro's fabless chip company and related production facilities to Kaynes, which will in turn manufacture these products for LTSCT, the companies said. The transaction is expected to close on June 23, pending regulatory clearance under Japan's Foreign Exchange and Foreign Trade Act. 'The new OSAT facility being setup in Sanand, Gujarat, is launching its operations with a focus on the global power device packaging market,' Raghu Panicker, chief executive of Kaynes Semicon, told ET. Mysuru-based Kaynes is one of the production contractors for LTSCT. The LTSCT specialises in semiconductor product development, manufacturing, and sales. Kaynes is one of the four companies under the India Semiconductor Mission 1.0 building OSATs in the country. Live Events The deal is part of Fujitsu's strategy to streamline operations within its tech solution business and reinforce its overall business foundation. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Panicker said the deal is supported by two major initiatives: a multi-million-dollar, high-volume service agreement with its customer Alpha and Omega Semiconductor (AOS) and the acquisition of three power packaging lines from Fujitsu Electronics Ltd Japan. 'The partnership with AOS will cover core power devices like IGBTs, power modules and MOSFETs with volumes projected to reach nearly 670 million units annually, while the Fujitsu technology provides immediate capability for high-reliability automotive and industrial-grade power modules, adding a production capacity of approximately 0.6 million units per month,' he said. These moves position the company as a significant new player in the power electronics supply chain , Panicker said. By combining a foundational, high-volume customer with advanced packaging technology and immediate production capacity, the company is poised to meet the surging global demand for power semiconductors driven by the electric vehicles , renewable energy , and industrial automation sectors, he said. This establishes a vital new capability in India's domestic semiconductor ecosystem and addresses the global need for a more resilient and diverse manufacturing footprint for power devices. L&T has invested more than $300 million to create LTSCT. Fujitsu General, in a regulatory filing on Monday, announced the divestiture of its power module business operated by its consolidated subsidiary, Fujitsu General Electronics (FGEL). This transaction is expected to result in the recording of an extraordinary gain of approximately 2 billion yen (about $13.8 million) from the business transfer in the April-June 2025 quarter, it said. Reasons for the Divestiture FGEL's tech solutions division is involved in the development, manufacturing, and sale of electronic devices, as well as the manufacturing of information and communication equipment. The divestiture of the power module business is part of a broader portfolio transformation within the electronic device business, aimed at strengthening the Fujitsu General Group's business foundation, it said.
Time of India
9 hours ago
- Automotive
- Time of India
Larsen and Toubro acquires Fujitsu's power modules business for expansion
This is a representative image MUMBAI: Ship-to-software conglomerate Larsen & Toubro is set to acquire the power modules business of Fujitsu General for 2 billion yen, or about $14 million, as part of its expansion strategy. The business will be bought by L&T's two-year-old 100% semiconductor arm. Separately, one of L&T Semiconductor Technologies' manufacturing contractors, Kaynes Semicon (KS), will acquire the production facilities related to the power modules business from Fujitsu . KS is a wholly owned subsidiary of Mumbai-listed Kaynes Technology India. This company, headquartered in Mysore, was founded by Ramesh Kunhikannan, an electrical engineer, in 1989. He and his wife own 58% of Kaynes, which has a market cap of Rs 36,225 crore. The Japanese major said it will record gains on the transfer of the power modules business in the first quarter of FY26. The decision to sell the power modules unit is part of a portfolio transformation of the company's electronic device business, Fujitsu added. The deal is expected to be completed by June 23, pending clearance under Japan's foreign exchange and foreign trade rules. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Good News: You May Be Richer Than You Think Undo According to Fujitsu, it has no prior business relationship with L&T Semiconductor Technologies and KS and hence is not considered a related party. L&T Semiconductor Technologies, established in November 2023, is involved in the development and sale of semiconductor products. Kaynes specialises in assembling printed circuit boards and has eight factories in the country. It supplies to 350 clients across the world in the automotive, aerospace, and medical industries. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
16-05-2025
- Business
- Business Standard
Kaynes Technology share price climbs 9% on strong Q4; profit surges 43% YoY
Kaynes Technology share price: Electronics manufacturing company Kaynes Technology share price were buzzing in trade on the last trading day of the week i.e. Friday, May 16, with the scrip rallying 8.51 per cent to hit an intraday high of Rs 6,836.10 per share. However, at 10:40 AM, Kaynes Technology share price pared gains, and was trading at ₹6,493.25, up 3.08 per cent. In comparison, BSE Sensex was trading 0.30 per cent lower at 82,283.88 level. What is the reason behind the rally in Kaynes Technology share price? Kaynes Technology share price zoomed after the company posted strong results in the fourth quarter of financial year 2025 (Q4FY25). The company's profit zoomed 43 per cent year-on-year (Y-o-Y) to ₹116.2 crore in the March quarter of financial year 2025 (Q4FY25), from ₹81.3 crore in the March quarter of financial year 2024 (Q4FY24). Its revenue surged 54 per cent annually to ₹984.5 crore, from ₹637.3 crore in Q4FY24. Subsequently, Ebitda margin expanded 211 basis points (bps) to 17.1 per cent in the March quarter of FY25, from 14.9 per cent in the March quarter of FY24. Ramesh Kunhikannan, managing director and promoter, Kaynes Technology India said, 'Our orderbook stood at ₹6,596.9 crore as of March 31, 2025, providing strong revenue visibility for FY26 and beyond, giving us confidence to sustain the growth momentum. Our Ebitda margins for FY25 grew to 15.1 per cent and the PAT margins improved to 10.8 per cent. This is a result of our constant endeavour to focus on complex and high margin segments. We expect to sustain this profitable growth and continue to work towards improving efficiencies.' 'With our recent acquisition of August Electronics in Canada, we have strengthened our North American footprint, added manufacturing capabilities in Canada and large high-margin customers. Following this acquisition, we are well positioned to present a compelling opportunity to these customers more comprehensively, positioning the Canada-India alliance as a strategic alternative to China-based sourcing. We are continuously looking to add new capabilities and geographies through a mix of organic and inorganic strategies,' Kunhikannan added. About Kaynes Technology Kaynes Technology is an integrated electronics manufacturer in India, offering comprehensive end-to-end and IoT-enabled solutions. With over 30 years of expertise in the Electronics System Design and Manufacturing (ESDM) sector, Kaynes provides a full spectrum of services—from conceptual design and process engineering to integrated manufacturing and complete life cycle support. The company serves a wide range of industries including Automotive, Industrial, Electric Vehicles (EVs), Aerospace, Space, Strategic Electronics, Medical, Railways, IoT, and Information Technology (IT). Kaynes operates 16 state-of-the-art manufacturing facilities capable of producing high-mix, high-value products at varying volumes to meet diverse industry needs.
Cision Canada
08-05-2025
- Business
- Cision Canada
Kaynes Technology Acquires Canada-Based August Electronics
CALGARY, AB, May 8, 2025 /CNW/ - August Electronics Inc. is pleased to announce that it has entered into a definitive agreement to be acquired by a wholly owned step-down subsidiary of Kaynes Technology India Limited (NSE: KAYNES), a leading Electronics System Design & Manufacturing (ESDM) company. The transaction is expected to close by the end of May 2025, subject to customary regulatory approvals and closing conditions. This acquisition marks an exciting new chapter for August Electronics, one of Canada's leading providers of high-reliability electronics manufacturing services. Now part of the Kaynes Technology group, August is positioned as a globally connected electronics company headquartered in Canada — with expanded capabilities and reach to support customers at every stage. The entire August management team will remain in place post-acquisition, ensuring business continuity and a strong foundation for future growth. "There is a tremendous alignment between August and Kaynes in terms of culture, capabilities, and customer focus," said Tanya Korenda, CEO of August Electronics. "We are extremely excited about this opportunity to join forces and leverage the global scale, engineering strength, and complementary capabilities that Kaynes brings." "We are thrilled to welcome August Electronics to the Kaynes family," said Ramesh Kannan, Managing Director, Kaynes Technology."This aligns with our vision to be a globally diversified ESDM leader. The deal strengthens our manufacturing presence in North America, adds key segments like oil & gas, energy, telecom, and factory instrumentation. August Electronics has strong relationships with large customers with significant electronics demand. Following the acquisition, the combined capabilities of August Electronics in Canada and Kaynes Technology in India present a strong opportunity to serve these customers more comprehensively, positioning the Canada-India alliance as a strategic alternative to China-based sourcing." The partnership is expected to unlock significant synergies across supply chain, engineering, and advanced manufacturing, and will serve as a key driver for Kaynes' strategic expansion in the North American market. As part of the transition, Co-Founders Jack Francis (President) and Peter Wilson will step away from their roles. Tanya Korenda will remain in her leadership position, ensuring continuity and stability as the company enters this exciting new chapter. August Electronics will continue to operate with its existing team, structure, and the same strong commitment to quality, partnership, and customer service. "Kaynes shares our core values and long-term vision. Under Tanya's continued leadership, the team is well-positioned to build on our legacy of innovation and customer focus," said Jack Francis, Co-Founder and President. "We're proud of what we've created, and excited to see August thrive as part of the Kaynes Technology group." Peter Wilson, outgoing Co-Founder, added, "After an incredible journey building August Electronics into the trusted partner it is today, I'm confident this transition marks the beginning of a powerful new phase." Kaynes Technology India Limited is a global Electronics System Design and Manufacturing (ESDM) company with a strong presence in automotive, industrial, aerospace, medical, and defense sectors. The acquisition of August Electronics further supports Kaynes' mission to deliver high-mix, high-complexity manufacturing solutions at scale around the world. About August Electronics August Electronics is a Calgary-based provider of end-to-end electronics manufacturing services, delivering high-reliability solutions for demanding industries such as energy, medical, industrial, and telecommunications. The company partners with clients across the full product development lifecycle, offering flexible, high-quality manufacturing that supports innovation and scalable growth. Kaynes Technology India Limited is a pioneer in end-to-end electronics manufacturing, offering IoT-enabled solutions across the ESDM spectrum. With 30+ years of experience, it serves marquee clients in automotive, EVs, aerospace, defence, railways, healthcare, and more—delivering integrated design, manufacturing, and supply chain solutions.
