9 hours ago
- Business
- Business Standard
Kaynes Tech gains after incorporating subsidiary, KSTPL to enter space sector
Kaynes Technology India rose 1.35% to Rs 5,848.35 after the company incorporated a wholly-owned subsidiary, Kaynes Space Technology (KSTPL) to develop satellites of all classes.
The company aims to design, develop, and manufacture satellites of all classes and mission-specific payloads for diverse application such as communication, earth observation, defense, and scientific research. It will also create modular satellite platforms and indigenous launch vehicles for various orbits (LEO, MEO, GEO, and beyond), focusing on cost-effective, reusable, and sustainable technologies.
The company also intends to establish complete infrastructure for launch operations, ground control systems, and satellite lifecycle management, including mission planning, integration, and in-orbit servicing. It will invest in R&D in areas like space propulsion, miniaturization, AI-based autonomy, and inter-satellite networks, while collaborating with academia, space agencies, and industry. Additionally, it will develop space-based applications like border surveillance and disaster monitoring, and continuously upgrade its technologies to stay at the forefront of space innovation.
The company acquired 100% of the shareholding in Kaynes Space Technology at a price per share of Rs 10 for a total consideration of Rs 10 lakh.
Kaynes Technology India is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturer in India, having capabilities across the entire spectrum of electronics system and design manufacturing (ESDM) services.
The companys consolidated net profit jumped 43% to Rs 116.20 crore on a 54.5% increase in net sales to Rs 984.48 crore in Q4 FY25 over Q4 FY24.
