Kernex Microsystems (India) Ltd

Kernex Microsys. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Kernex Microsystems (India) Ltd

₹ 536 -1.42%
26 Apr - close price
kernex.in BSE: 532686 NSE : KERNEX
About

Kernex Microsystems (India) Ltd manufactures, installs, and maintains anti-collision devices, and conceptualises, designs, and develops railway safety and signal systems. [1]

Key Points

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]

Website BSE NSE
  • Market Cap ₹ 899 Cr.
  • Current Price ₹ 536
  • High / Low ₹ 721 / 244
  • Stock P/E
  • Book Value ₹ 49.6
  • Dividend Yield 0.00 %
  • ROCE -23.2 %
  • ROE -30.4 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Stock is trading at 10.8 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -21.2% over past five years.
  • Promoter holding is low: 29.2%
  • Company has a low return on equity of -17.4% over last 3 years.
  • Company might be capitalizing the interest cost
  • Company has high debtors of 827 days.
  • Working capital days have increased from 1,593 days to 2,995 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023
0.89 2.93 13.97 1.63 3.11 1.07 0.84 0.99 0.42 2.11 0.52 0.96 1.41
0.18 1.49 10.92 4.17 4.81 2.85 4.24 3.48 4.17 6.38 7.12 1.46 4.82
Operating Profit 0.71 1.44 3.05 -2.54 -1.70 -1.78 -3.40 -2.49 -3.75 -4.27 -6.60 -0.50 -3.41
OPM % 79.78% 49.15% 21.83% -155.83% -54.66% -166.36% -404.76% -251.52% -892.86% -202.37% -1,269.23% -52.08% -241.84%
0.32 0.18 0.55 0.15 0.20 1.02 -4.09 0.11 0.23 1.95 -1.51 0.47 0.26
Interest 0.40 0.62 0.07 0.55 1.08 0.73 0.93 0.61 0.66 0.81 -1.26 0.21 0.40
Depreciation 0.39 0.40 0.39 0.39 0.32 0.45 0.28 0.32 0.36 0.35 1.36 0.62 0.56
Profit before tax 0.24 0.60 3.14 -3.33 -2.90 -1.94 -8.70 -3.31 -4.54 -3.48 -8.21 -0.86 -4.11
Tax % 12.50% -38.33% 3.18% -1.50% -3.10% -5.67% -1.15% -0.91% -1.98% -5.17% -2.07% -9.30% -10.46%
0.22 0.83 3.04 -3.39 -2.98 -2.05 -8.79 -3.35 -4.62 -3.66 -8.37 -0.94 -4.53
EPS in Rs 0.18 0.66 2.43 -2.71 -2.39 -1.64 -7.04 -2.43 -3.33 -2.63 -5.33 -0.57 -2.85
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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 18 12 12 13 8 15 18 7 4 5
34 22 27 25 20 33 25 21 22 14 16 21 20
Operating Profit 9 5 2 -7 -9 -21 -12 -13 -7 4 -9 -17 -15
OPM % 22% 19% 6% -37% -76% -171% -87% -158% -49% 21% -142% -416% -296%
2 3 3 2 2 25 1 -4 18 1 -3 1 1
Interest 4 4 3 3 6 4 2 2 6 1 3 1 0
Depreciation 1 3 4 4 3 3 2 2 2 2 1 2 3
Profit before tax 7 1 -2 -13 -16 -2 -15 -22 3 2 -17 -20 -17
Tax % 37% 76% 16% 2% 2% -115% 4% 1% -1% 2% -2% -2%
4 0 -2 -13 -16 -4 -15 -21 3 2 -17 -20 -18
EPS in Rs 3.30 0.29 -1.69 -10.11 -12.74 -3.24 -11.78 -17.06 2.74 1.62 -13.76 -12.82 -11.38
Dividend Payout % 30% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -17%
5 Years: -21%
3 Years: -35%
TTM: 51%
Compounded Profit Growth
10 Years: %
5 Years: -8%
3 Years: -30%
TTM: -19%
Stock Price CAGR
10 Years: 29%
5 Years: 84%
3 Years: 132%
1 Year: 95%
Return on Equity
10 Years: -16%
5 Years: -19%
3 Years: -17%
Last Year: -30%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 115 116 115 101 84 75 64 43 46 50 36 67 61
18 16 26 28 33 24 26 21 11 20 18 11 21
19 16 20 20 27 21 19 16 16 12 14 9 9
Total Liabilities 165 161 174 162 157 133 121 93 85 95 80 102 107
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 0 0 0 0 0 0 0 0 0 0 0 0 0
93 91 107 99 97 78 68 50 53 63 55 78 85
Total Assets 165 161 174 162 157 133 121 93 85 95 80 102 107

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

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 4 -1 -6 -4 -26 3 -23 -11 3 -5 -32
-1 -0 -1 1 0 30 -0 26 25 -12 -7 -32
-10 -7 7 -2 3 -4 -2 -2 -6 -1 0 45
Net Cash Flow -2 -3 5 -8 -0 0 1 1 7 -10 -11 -19

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 1,043 1,643 1,236 996 674 316 239 596 827
Inventory Days 599 1,408 1,779 293 1,915 844 266 962 967 1,582
Days Payable 267 753 962 325 1,225 405 20 101 177 43
Cash Conversion Cycle 696 1,282 711 1,043 2,460 1,205 1,686 1,114 562 1,099 1,385 2,366
Working Capital Days 450 759 782 1,182 1,740 1,357 1,205 1,190 497 567 1,217 2,995
ROCE % 7% 4% 0% -6% -7% -18% -12% -15% -8% 4% -13% -23%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
22.34% 22.34% 31.04% 34.52% 31.27% 31.27% 31.27% 31.60% 31.60% 31.60% 29.14% 29.14%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.03% 0.01% 0.01%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.01%
0.00% 0.00% 0.00% 0.00% 0.00% 0.08% 0.08% 0.07% 0.07% 0.07% 0.06% 0.06%
77.66% 77.66% 68.96% 65.48% 68.73% 68.66% 68.65% 68.34% 68.33% 68.30% 70.79% 70.77%
No. of Shareholders 14,02313,35912,76112,51412,22413,02413,09113,09413,79114,66015,00716,240

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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Concalls

  • Feb 2024
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