Quick Take
- Ramesh Kunhikannan has been part of Kaynes Technology since it began in 1988, and is now its Executive Vice Chairman.
- Kaynes Technology jobs went from 6,199 to 8,510 in the year to March 31, 2026, a rise of 2,311.
- Public money covers 70% of Rs 2,615 crore of eligible capital spending at the company’s Sanand plant in Gujarat.
The Mysuru electronics maker Kaynes Technology added 2,311 people to its payroll in the year to March 31, 2026.
Ramesh Kunhikannan is the Executive Vice Chairman of Kaynes Technology India Limited. The company’s board page says Ramesh Kunhikannan has been part of it since its inception in 1988.
Peoples Feed counted Kaynes Technology jobs from two annual reports. The payroll went from 6,199 to 8,510 over that year. The order book reached Rs 8,903.8 crore on June 30, 2026.
Hiring ran ahead of sales. Worked out from those same two reports, revenue for every employee fell about 3.0%, from Rs 43.9 lakh to Rs 42.6 lakh.
Prime Minister Narendra Modi opened the company’s chip plant at Sanand in Gujarat on March 31, 2026. The Prime Minister’s Office published the record that day.
What the Kaynes Technology Jobs Count Shows
The Kaynes Technology jobs count rose 37.3% in one financial year. The company employed 6,199 people on March 31, 2025 and 8,510 a year later.
Both figures come from the company’s own annual reports. The 2024-25 report recorded 4,852 of that year’s 6,199 as permanent staff.
By August the number had moved again. The investor presentation dated August 8, 2026 puts the global workforce above 9,000.
Factories grew too. India had 20 Kaynes Technology manufacturing plants on March 31, 2026, against 16 units, two service centres and six research centres a year earlier.
Sales grew more slowly than the payroll. Consolidated revenue rose 33.2% in 2025-26, to Rs 3,626.4 crore from Rs 2,721.8 crore.
Profit after tax rose 24.0%, to Rs 363.9 crore from Rs 293.4 crore. That took the profit margin down from 10.8% to 10.0%.
What Kaynes Semicon Sanand Makes
Kaynes Semicon Sanand packages and tests finished chips. The 2025-26 annual report calls it an OSAT plant, short for outsourced semiconductor assembly and test.
It makes Intelligent Power Modules for a California-based company, the Prime Minister’s Office release of March 31, 2026 says. Production there is already largely booked, the same release records.
Capacity is 6.3 million chips a day, according to the same annual report. Power modules of this type run electric vehicles, factory drives and heavy machinery.
Narendra Modi opened the plant that day. The Prime Minister’s Office release quotes him on the timing. It “is not merely a coincidence, it is proof of the speed at which India’s semiconductor ecosystem is developing”, the release records.
Sanand is not a single case. The same release counts ten semiconductor projects worth more than Rs 1,60,000 crore across six states, and a target of 85,000 trained design professionals.
March 31, 2026 was also the last day of the financial year. Commercial manufacturing at the plant is scheduled to start in 2026-27, the annual report says.
How the Sanand Plant Was Paid For
Public money covers most of the eligible capital cost at Sanand. The central subsidy is 50% and the Gujarat subsidy is 20%.
Both apply to eligible capital spending of Rs 2,615 crore, the 2025-26 annual report records. Together that is 70%, or about Rs 1,830 crore.
The support runs through a Financial Support Agreement under the India Semiconductor Mission. Total capital investment in the plant is Rs 3,307 crore, the same report says.
An earlier report sized the project differently. The 2024-25 annual report gave Rs 4,300 crore, with Rs 800 crore of Kaynes Technology equity in it.
Neither report explains the gap between the two figures. Peoples Feed has set both out here because the subsidy is calculated on the smaller base.
The Record, Verified
Every line below sits in a company filing or on a government page. No date here rests on a press report.
The board page lists nine directors, five of them independent. Savitha Ramesh is Executive Chairperson and has been with the company since 1996.
Dr Muthukumar Narayanaswamy is Managing Director. Jairam P Sampath is Whole Time Director and Chief Financial Officer, and has been at Kaynes Technology since 2011.
| Date | What happened | Source document |
|---|---|---|
| 1988 | Kaynes begins; Ramesh Kunhikannan part of it from inception | Kaynes Technology board page |
| 1996 | Savitha Ramesh joins the company | Kaynes Technology board page |
| March 31, 2025 | Payroll 6,199; revenue Rs 2,721.8 crore; 16 manufacturing units | Annual Report 2024-25 |
| March 31, 2026 | Prime Minister opens Kaynes Semicon Sanand | Prime Minister’s Office release |
| March 31, 2026 | Payroll 8,510; revenue Rs 3,626.4 crore; 20 plants in India | Annual Report 2025-26 |
| June 30, 2026 | Order book Rs 8,903.8 crore, from Rs 7,401.1 crore | Quarter one results release, August 7, 2026 |
| August 8, 2026 | Global workforce above 9,000; 22 plants worldwide | Quarter one investor presentation |
| September 17, 2026 | Annual general meeting, by video conferencing | Annual Report 2025-26 |
What Is Contested or Unproven
Kaynes Technology has not published a headcount for the Sanand plant. No figure appears in the 2025-26 annual report, in the June quarter filings, or in the government account of the opening.
Seventy per cent of the eligible capital spending there is public money. The jobs number is not public at all.
Profit is also growing more slowly than sales. Profit after tax was Rs 56.4 crore in the June 2026 quarter, on revenue of Rs 946 crore.
That is a margin of 6.0%. The company’s own presentation records it down 510 basis points from a year earlier, while revenue grew 40%.
The record on Ramesh Kunhikannan himself is thin. The 2024-25 annual report lists Kunhikannan as Managing Director. The 2025-26 report lists him as Executive Vice Chairman.
No document Peoples Feed opened gives a date for that change. The board page adds only the year 1988, and no education or earlier employer.
One limit on this account should be stated plainly. Pages 78 to 348 of the 2025-26 annual report did not open in the copy retrieved, so contingent liabilities and litigation were not read.
Peoples Feed searched seven sources on September 10, 2026. Four were company documents: both annual reports, the June quarter results release and the investor presentation. The others were the stock exchange disclosure page, the India Semiconductor Mission website and the Prime Minister’s Office website.
None of those seven carried a published criticism, pending inquiry or disputed claim against Ramesh Kunhikannan in connection with this work.
What Happens Next
Kaynes Technology holds its annual general meeting on September 17, 2026. The 2025-26 annual report says it will run by video conferencing.
Commercial manufacturing at Sanand is scheduled to start in 2026-27. That financial year ends on March 31, 2027.
The order book is the second marker. It stood at Rs 8,903.8 crore on June 30, 2026, up 20.3% on the year.
Every company figure in this article comes from Kaynes Technology’s own filings. The opening date, the export detail and the national project count come from the Prime Minister’s Office.
What this means for you: If you are an engineering graduate in Mysuru or Sanand, Kaynes Technology added 2,311 people to its payroll in the year to March 31, 2026. Watch the September 17, 2026 annual general meeting for the first company statement on how many of them work at Sanand.
Peoples Feed Insight
The number to watch at Sanand is not the chip count. It is the headcount, and Kaynes Technology has not published one. Seventy per cent of the plant’s eligible capital spending is public money, and the public case for that money is jobs. Yet no filing so far carries a Sanand employment figure. The annual general meeting on September 17, 2026 is the first natural place for a shareholder to ask. If no number comes then, the honest reading is that this plant buys capacity rather than employment. That is a different bargain from the one the subsidy implies.
By Suraj Prajapati, Contributing Editor
About Ramesh Kunhikannan
Ramesh Kunhikannan is the Executive Vice Chairman of Kaynes Technology India Limited. The electronics manufacturer is registered at Belagola Food Industrial Estate, Metagalli, Mysuru 570 016, Karnataka. Its board page says Kunhikannan has been part of Kaynes since the company began in 1988. Kaynes Technology employed 8,510 people on March 31, 2026 and reported consolidated revenue of Rs 3,626.4 crore that year.
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