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Kaynes Revenue Drops 11% After Delay in Railway Order
Kaynes Technology cut its fiscal revenue target after an 11% revenue decline due to delayed railway orders.
Kaynes Technology reported an 11 percent year on year decline in revenue after delays in execution of a key railway order impacted quarterly performance. The electronics manufacturer also lowered its full year revenue target, citing slower project ramp ups. Management said execution is expected to normalise in coming quarters, while demand visibility remains healthy across automotive, industrial, and defence electronics segments.