NEW DELHI, Feb. 6 -- Electronics manufacturer Kaynes Technology on Friday reported an 11% sequential decline in December quarter (Q3FY26) revenue, at a time when its closest competitor, Syrma SGS grew at a steady pace.

In a post-earnings call, Kaynes's top management attributed the quarterly revenue dip to a one-time hit from delayed execution of Kavach, a suite of sensors and electronic safety equipment for Indian Railways.

"Most of the dip came from a delay in execution of our Kavach order in our railways vertical, to the tune of Rs.300 crore. Our orders are non-cancellable, but a lot of times there are delays that occur because of prolonged periods of authorization from various agencies. The rest of our business remains robust," said...