Mumbai/IBNS, May 14 -- Shares of Kaynes Technology Ltd. plunged nearly 19 percent on Thursday after the company reported an underwhelming performance for the March quarter of FY2026, media reports said.

The sharp decline in the stock also came after brokerage firm JPMorgan reportedly downgraded the company following the earnings announcement.

Profit declines despite strong revenue growth

Kaynes Technology India Ltd. posted a mixed set of results for the fourth quarter, with robust revenue growth overshadowed by a decline in profitability due to margin pressure.

The company's consolidated net profit fell 21.5 percent year-on-year to around Rs.91 crore in Q4 FY26.

However, revenue from operations rose nearly 26 percent YoY to approxima...