Kernex Microsystems (India) Ltd
Kernex Microsystems (India) Ltd manufactures, installs, and maintains anti-collision devices, and conceptualises, designs, and develops railway safety and signal systems. [1]
- Market Cap ₹ 902 Cr.
- Current Price ₹ 538
- High / Low ₹ 721 / 244
- Stock P/E
- Book Value ₹ 52.0
- Dividend Yield 0.00 %
- ROCE -19.9 %
- ROE -26.3 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 10.5 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -31.6% over past five years.
- Promoter holding is low: 29.2%
- Company has a low return on equity of -15.6% over last 3 years.
- Company has high debtors of 1,712 days.
- Working capital days have increased from 2,634 days to 6,097 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Electronics Industry: Electronics - Components
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
43 | 27 | 28 | 20 | 12 | 12 | 13 | 7 | 15 | 16 | 5 | 2 | 11 | |
33 | 22 | 27 | 24 | 20 | 33 | 25 | 20 | 22 | 15 | 15 | 18 | 23 | |
Operating Profit | 9 | 5 | 2 | -4 | -8 | -21 | -11 | -12 | -7 | 1 | -10 | -16 | -12 |
OPM % | 22% | 19% | 6% | -18% | -74% | -170% | -85% | -164% | -49% | 7% | -182% | -801% | -112% |
2 | 3 | 3 | 2 | 2 | 25 | 1 | -4 | 18 | 2 | -3 | 1 | 2 | |
Interest | 4 | 4 | 3 | 3 | 4 | 3 | 2 | 2 | 1 | 1 | 2 | 2 | 2 |
Depreciation | 1 | 3 | 4 | 4 | 3 | 3 | 2 | 2 | 2 | 2 | 1 | 2 | 3 |
Profit before tax | 7 | 2 | -2 | -10 | -14 | -1 | -15 | -21 | 8 | 0 | -16 | -19 | -15 |
Tax % | 35% | 63% | 19% | 3% | 2% | -162% | 4% | 1% | -0% | 12% | -2% | -2% | |
4 | 1 | -2 | -9 | -13 | -4 | -14 | -21 | 8 | 0 | -17 | -20 | -16 | |
EPS in Rs | 3.58 | 0.52 | -1.36 | -7.51 | -10.63 | -2.81 | -11.54 | -16.54 | 6.45 | 0.30 | -13.26 | -12.85 | -10.21 |
Dividend Payout % | 28% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | -23% |
5 Years: | -32% |
3 Years: | -48% |
TTM: | 361% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | -9% |
3 Years: | % |
TTM: | 2% |
Stock Price CAGR | |
---|---|
10 Years: | 29% |
5 Years: | 84% |
3 Years: | 137% |
1 Year: | 99% |
Return on Equity | |
---|---|
10 Years: | -13% |
5 Years: | -16% |
3 Years: | -16% |
Last Year: | -26% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 15 | 15 |
Reserves | 117 | 118 | 117 | 106 | 92 | 84 | 69 | 49 | 57 | 58 | 46 | 77 | 72 |
18 | 16 | 21 | 22 | 27 | 18 | 19 | 13 | 5 | 14 | 12 | 9 | 17 | |
19 | 16 | 20 | 20 | 24 | 18 | 20 | 17 | 12 | 15 | 14 | 13 | 12 | |
Total Liabilities | 166 | 163 | 170 | 161 | 156 | 132 | 120 | 92 | 87 | 99 | 85 | 114 | 117 |
28 | 60 | 58 | 53 | 50 | 55 | 54 | 43 | 33 | 32 | 25 | 24 | 22 | |
CWIP | 44 | 10 | 10 | 10 | 10 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 11 | 8 | 8 | 13 | 13 |
93 | 91 | 102 | 97 | 95 | 75 | 66 | 48 | 43 | 60 | 51 | 77 | 81 | |
Total Assets | 166 | 163 | 170 | 161 | 156 | 132 | 120 | 92 | 87 | 99 | 85 | 114 | 117 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
8 | 3 | -2 | 1 | -6 | -26 | 2 | -25 | -8 | 1 | -5 | -31 | |
-1 | -0 | -1 | 1 | 0 | 30 | -0 | 29 | 15 | -9 | -6 | -36 | |
-10 | -7 | 1 | -2 | 5 | -3 | -2 | -2 | -1 | -1 | 1 | 48 | |
Net Cash Flow | -2 | -3 | -2 | -1 | -0 | 0 | 0 | 1 | 5 | -9 | -10 | -19 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 364 | 628 | 711 | 945 | 1,643 | 1,223 | 1,002 | 745 | 321 | 300 | 775 | 1,712 |
Inventory Days | 599 | 1,408 | 6,386 | 1,779 | 293 | 1,670 | 894 | 137 | 978 | 1,026 | 4,437 | |
Days Payable | 266 | 751 | 3,258 | 962 | 236 | 1,103 | 20 | 20 | 307 | 337 | 959 | |
Cash Conversion Cycle | 697 | 1,285 | 711 | 4,073 | 2,460 | 1,279 | 1,568 | 1,619 | 438 | 971 | 1,463 | 5,190 |
Working Capital Days | 432 | 731 | 829 | 1,145 | 1,951 | 1,373 | 1,149 | 1,186 | 327 | 523 | 1,281 | 6,097 |
ROCE % | 7% | 4% | 1% | -4% | -7% | -18% | -12% | -15% | -8% | 1% | -13% | -20% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
2d - The company has received order an amount of Rs. 8.26 crores from Integral Coach Factory and the details are mentioned in the attached letter.
- Compliance Certificate Under Regulation 40 Of SEBI (LODR) Regulations, 2015 17 Apr
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 15 Apr
- Compliance Certificate For The Period Ended 31St March 2024 15 Apr
- Imposition Of Penalty 2 Apr
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Concalls
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Feb 2024TranscriptNotesPPT
Product & Services
The Co has developed safety products for the rail industry using the latest in GPS, Radio and navigation technologies. The co’s product portfolio include Anti-collision systems, level crossing protection systems, Yard protection systems, Passenger information systems. Besides this it also provides services like Turnkey product development, electronic product design, embedded software design, ESS testing, offshore development, Quality control and training. [1][2][3][4][5]
Revenue Split
Sale of Products: 89% in FY21 vs 81 % in FY20
Sale of Services: 11% in FY21 vs 19 % in FY20 [6]
Projects
Egyptian National Railways: The Co has completed installation of 122 gates and handed over to ENR. 2 more gates to be Installed and commissioned for which the work is in progress.
Sri Lanka Railways: The Co bagged an order for an Amount of US$8,175,225/- from Sri Lanka Railways for Supply, Installation, Testing, Commissioning and Maintenance of 200 Nos. of Bell and Light Level Crossing Protection Systems.
Domestic Projects: The Co has got a new section in SCR for 250 Km and works for installation and commissioning of the new Section began from Dec' 2020. [7]