Kernex Microsystems (India) Ltd
Incorporated in 1991, Kernex Microsystems Ltd manufactures and sells Safety Systems and Software services for Railways[1]
- Market Cap ₹ 2,171 Cr.
- Current Price ₹ 1,298
- High / Low ₹ 1,584 / 334
- Stock P/E 43.4
- Book Value ₹ 94.2
- Dividend Yield 0.00 %
- ROCE 23.8 %
- ROE 37.8 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 43.9% CAGR over last 5 years
Cons
- Stock is trading at 13.8 times its book value
- Promoter holding is low: 29.1%
- Company has a low return on equity of 1.30% over last 3 years.
- Debtor days have increased from 26.1 to 45.5 days.
- Promoter holding has decreased over last 3 years: -5.43%
* 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
Services Services Transport Services Transport Related Services
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
28 | 18 | 12 | 12 | 13 | 8 | 15 | 18 | 7 | 4 | 20 | 190 | |
27 | 25 | 20 | 33 | 25 | 21 | 22 | 14 | 16 | 21 | 40 | 149 | |
Operating Profit | 2 | -7 | -9 | -21 | -12 | -13 | -7 | 4 | -9 | -17 | -20 | 41 |
OPM % | 6% | -37% | -76% | -171% | -87% | -158% | -49% | 21% | -142% | -416% | -103% | 22% |
3 | 2 | 2 | 25 | 1 | -4 | 18 | 1 | -3 | 1 | 1 | 1 | |
Interest | 3 | 3 | 6 | 4 | 2 | 2 | 6 | 1 | 3 | 1 | 3 | 7 |
Depreciation | 4 | 4 | 3 | 3 | 2 | 2 | 2 | 2 | 1 | 2 | 5 | 3 |
Profit before tax | -2 | -13 | -16 | -2 | -15 | -22 | 3 | 2 | -17 | -20 | -27 | 32 |
Tax % | -16% | -2% | -2% | 115% | -4% | -1% | -1% | 2% | 2% | 2% | -0% | -54% |
-2 | -13 | -16 | -4 | -15 | -21 | 3 | 2 | -17 | -20 | -27 | 50 | |
EPS in Rs | -1.69 | -10.11 | -12.74 | -3.24 | -11.78 | -17.06 | 2.74 | 1.62 | -13.76 | -12.82 | -15.76 | 29.98 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 26% |
5 Years: | 66% |
3 Years: | 206% |
TTM: | 868% |
Compounded Profit Growth | |
---|---|
10 Years: | 20% |
5 Years: | 44% |
3 Years: | 78% |
TTM: | 289% |
Stock Price CAGR | |
---|---|
10 Years: | 41% |
5 Years: | 143% |
3 Years: | 91% |
1 Year: | 266% |
Return on Equity | |
---|---|
10 Years: | -11% |
5 Years: | -2% |
3 Years: | 1% |
Last Year: | 38% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 15 | 17 | 17 |
Reserves | 115 | 101 | 84 | 75 | 64 | 43 | 46 | 50 | 36 | 67 | 90 | 141 |
26 | 28 | 33 | 24 | 26 | 21 | 11 | 20 | 18 | 11 | 28 | 40 | |
20 | 20 | 27 | 21 | 19 | 16 | 16 | 12 | 14 | 11 | 27 | 38 | |
Total Liabilities | 174 | 162 | 157 | 133 | 121 | 93 | 85 | 95 | 80 | 104 | 161 | 236 |
58 | 53 | 50 | 55 | 54 | 43 | 33 | 32 | 25 | 24 | 24 | 32 | |
CWIP | 10 | 10 | 10 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 2 | 0 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
107 | 99 | 97 | 78 | 68 | 50 | 53 | 63 | 55 | 78 | 135 | 204 | |
Total Assets | 174 | 162 | 157 | 133 | 121 | 93 | 85 | 95 | 80 | 104 | 161 | 236 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-1 | -6 | -4 | -26 | 3 | -23 | -11 | 3 | -5 | -36 | -72 | 15 | |
-1 | 1 | 0 | 30 | -0 | 26 | 25 | -12 | -7 | -1 | -5 | -9 | |
7 | -2 | 3 | -4 | -2 | -2 | -6 | -1 | 0 | 45 | 65 | 5 | |
Net Cash Flow | 5 | -8 | -0 | 0 | 1 | 1 | 7 | -10 | -11 | 9 | -11 | 11 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 711 | 1,043 | 1,643 | 1,236 | 996 | 674 | 316 | 239 | 596 | 0 | 7 | 45 |
Inventory Days | 1,779 | 293 | 1,915 | 844 | 266 | 962 | 967 | 2,141 | 2,098 | 195 | ||
Days Payable | 962 | 325 | 1,225 | 405 | 20 | 101 | 177 | 43 | 460 | 76 | ||
Cash Conversion Cycle | 711 | 1,043 | 2,460 | 1,205 | 1,686 | 1,114 | 562 | 1,099 | 1,385 | 2,098 | 1,644 | 164 |
Working Capital Days | 782 | 1,182 | 1,740 | 1,357 | 1,205 | 1,190 | 497 | 567 | 1,217 | 2,155 | 1,521 | 222 |
ROCE % | 0% | -6% | -7% | -18% | -12% | -15% | -8% | 4% | -13% | -23% | -21% | 24% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
6 Jun - Kernex awarded Rs.182.81 Cr Western Railways KAVACH safety system project, 730-day completion.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
27 May - Kernex delayed Q3 and FY24 financial results, paid fines, promoters' shares frozen temporarily.
- Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 23 May
-
Announcement under Regulation 30 (LODR)-Code of Conduct under SEBI (PIT) Regulations, 2015
23 May - Non-Executive Director violated insider trading code; fined Rs. 15,000 for contra trades worth Rs. 5.3 Cr.
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Board Meeting Outcome for Outcome Of Board Meeting
23 May - Kernex Microsystems approved FY25 audited results, re-appointed auditors, granted 1,200 ESOPs, and appointed new MD.
Annual reports
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Financial Year 2024
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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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Business Overview:[1][2]
KML, an ISO 9001:2015 certified, 100% Export Oriented Unit, provides turnkey electronic systems and technical support. It specializes in anti-collision devices, railway safety and signal systems, train collision avoidance systems, and automatic level crossing gates.