Kaynes Technology announces leadership revamp amid semiconductor expansion push
Kaynes Technology, a Mumbai-based semiconductor company, just announced CEO Rajesh Sharma is stepping down on October 31, 2025.
To strengthen leadership, they've brought in Muthukumar Narayanaswamy as Managing Director, focusing on operational excellence, while Ramesh Kunhikannan takes on the role of Executive Vice-Chairman to oversee subsidiaries and key projects.
The company's main focus: ramping up its semiconductor assembly (OSAT) and printed circuit board businesses.
Kaynes is betting big on OSAT business
Kaynes is betting big—₹3,400 crore—on expanding its OSAT business, with most of the funding coming from government subsidies.
By 2030, they're aiming for ₹4,500 crore in OSAT revenue and ₹2,500 crore from printed circuit boards.
Their Electronics Manufacturing Services (EMS) arm is expected to turn cash positive by the end of this year (2025), helping fuel these expansion plans.
New MD at the helm
Muthukumar Narayanaswamy steps in as the new MD at a key moment.
He's tasked with driving operational excellence and overseeing major manufacturing growth while keeping Kaynes's long-term strategy steady despite the leadership change.