• Capacity ramp-up: Unit 2 infrastructure is roughly 90% complete with equipment arriving to start production by the end of December, providing an annual capacity of 1.2 billion devices. Unit 3 will add another 1.3 billion devices, bringing total capacity to around 2.3 billion devices over the next year.
• Ecosystem partnerships: Collaborations with Alpha and Omega Semiconductor have qualified two intelligent power module products, while tie-ups with Mitsui and Aoi Electronics secure raw materials and university partnerships support talent hiring and training.
• Market demand: Driven by mid-sized global players seeking alternative packaging capacity for power modules in EVs and appliances, Kaynes has received RFQs for nearly 1 billion devices per year and expects to announce 80% to 90% capacity utilization soon.
• Revenue expectations: The company maintains its corporate revenue guidance of ₹400 crore to ₹500 crore from combined PCB and OSAT operations by FY27.
• Growth trajectory: Growth will follow a gradual ramp-up rather than a sudden hockey-stick or J-curve due to mandatory multi-stage product and OEM reliability qualifications, though early qualifications will accelerate subsequent product approvals.