Overview

Detailed Summary

Kernex Microsystems is a technology company specializing in developing anti-collision and train protection systems for railways, holding a significant position in the railway safety sector.
The company's revenue from operations surged by 329% year-on-year for Q3 FY25, indicating robust growth and increased market demand for its products.
Kernex's gross contribution margin improved significantly from -27% to 23% in Q3 FY25, demonstrating operational efficiency and improved financial performance.
The firm’s strategic focus is bolstered by a substantial order book, currently valued at Rs 2,124.16 crore, showcasing strong future revenue potential.
Kernex is expanding its production capabilities to stay ahead of demand for rail safety systems, reflecting its growth trajectory and market opportunities.

Sector: Electronics
Industry: Electronics - Others
Market Cap: 1,672 Cr
Volatility: High Risk
P/E Ratio: 32.2
Industry P/E: 55.4
PEG Ratio: 0.1
P/B Ratio: 9.6
52W High: 1,433.95
52W Low: 625.55

Sales CAGR

1Y: 868.21%
3Y: 228.32%
5Y: 66.95%
10Y: 35.72%

Profit CAGR

1Y: 287.38%
3Y: —
5Y: 44.58%
10Y: —

ROE

TTM: 30.97%
3Y: 1.16%
5Y: -2.45%
10Y: -7.67%

ROCE

TTM: 19.42%
3Y: -0.91%
5Y: -2.82%
10Y: -5.13%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
DCXINDIA	188.45	2,099 Cr	158.36	1.44	0.00	1.77	3.75	0.63
KERNEX	1005.00	1,672 Cr	32.16	9.62	0.00	30.97	19.42	11.38
AIMTRON	774.65	1,596 Cr	58.95	9.49	0.00	17.45	23.36	13.36
VINYAS	1000.00	1,258 Cr	64.81	8.56	0.00	10.12	12.89	5.34
MICEL	34.85	840 Cr	91.71	3.68	0.00	4.19	6.76	2.65
CWD	307.00	682 Cr	46.44	7.33	0.00	8.09	8.96	4.62
SPICELEC	136.65	630 Cr	-71.54	292.90	0.00	-360.82	-11.69	-25.67

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	1.41	8.31	8.91	29	41	37	83	56	47	73
Expenses	4.82	13	21	24	31	28	66	43	33	56
Operating Profit	-3.41	-4.50	-12	4.86	10	8.58	17	13	14	17
OPM %	-241.84	-54.15	-138.72	16.95	24.87	23.31	20.61	22.49	30.28	23.14
Other Income	0.26	0.50	0.08	0.24	0.26	0.33	0.62	0.36	0.49	0.48
Interest	0.40	1.25	0.52	1.03	3.06	1.22	1.61	2.55	4.69	9.12
Depreciation	0.56	3.26	0.53	0.63	0.65	0.62	0.93	0.84	0.97	1.88
Profit Before Tax	-4.10	-8.51	-13	3.43	6.80	7.07	15	9.55	9.10	6.27
Tax %	-10.49	-0.59	4.88	-3.79	-0.29	-0.85	-114.01	22.41	28.35	3.35
Net Profit	-4.54	-8.56	-13	3.57	6.81	7.14	33	7.41	6.52	6.06
EPS in Rs	-2.54	-5.53	-7.51	2.15	4.08	4.28	19.35	4.44	3.85	3.61

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	12	13	8.14	15	18	6.65	4.04	20	190	217
Expenses	33	25	21	22	14	16	21	40	149	169
Operating Profit	-21	-12	-13	-7.34	3.83	-9.43	-17	-21	41	49
OPM %	-170.82	-87.22	-158.11	-49.29	20.89	-141.83	-423.75	-105.91	21.50	22.36
Other Income	-3.37	0.72	-4.32	18	1.26	-2.70	0.78	1.31	1.45	1.57
Interest	3.70	2.15	2.29	5.83	1.46	3.29	0.82	2.38	6.92	8.44
Depreciation	2.56	2.25	2.10	1.73	1.56	1.44	2.39	4.97	2.83	3.04
Profit Before Tax	-1.88	-15	-22	3.39	2.07	-17	-20	-27	33	39
Tax %	-115.04	3.69	1.14	-1.00	2.54	-2.08	-2.44	0.32	-53.97	-39.54
Net Profit	-4.05	-15	-21	3.43	2.02	-17	-20	-27	50	54
EPS in Rs	—	—	—	2.04	1.20	-10.25	-11.45	-16.18	29.86	31.25
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	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	15	17	17
Reserves	84	75	64	43	46	50	36	67	90	141
Borrowings	27	24	26	20	11	20	18	11	28	40
Other Liabilities	33	21	18	8.00	9.30	9.40	11	8.76	24	38
Total Liabilities	157	133	120	84	79	92	78	102	159	236
Fixed Assets	50	55	54	43	33	32	25	24	24	25
CWIP	9.74	0.00	0.00	0.00	0.03	0.00	0.00	2.60	2.31	7.03
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	97	78	66	41	46	61	52	75	133	204
Total Assets	157	133	120	84	79	92	78	102	159	236

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-3.53	-26	3.06	-25	-11	3.28	-4.61	-36	-72	15
Cash from Investing Activity	0.37	30	-0.03	26	0.00	-12	-6.55	-0.63	-4.59	-8.84
Cash from Financing Activity	2.73	-3.71	-2.46	-2.26	0.00	-1.46	0.03	45	65	5.41
Net Cash Flow	-0.44	0.38	0.56	-1.22	-11	-10	-11	8.53	-11	11

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	31.60%	31.60%	31.60%	29.15%	29.15%	29.15%	29.15%	29.09%	29.09%	28.97%	28.97%	28.90%
FIIs	0.00%	0.00%	0.03%	0.01%	0.01%	0.00%	0.49%	1.16%	0.07%	0.52%	0.54%	0.07%
DIIs	0.07%	0.07%	0.07%	0.07%	0.07%	0.06%	0.10%	0.79%	1.16%	1.17%	0.45%	0.13%
Public	68.33%	68.33%	68.31%	70.78%	70.77%	70.79%	70.26%	68.96%	69.68%	69.34%	70.04%	70.90%
Total Shareholders	13,094	13,791	14,660	15,007	16,240	22,241	27,058	34,242	37,894	42,149	42,785	40,187

Market Transactions

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Presentations

Investor Presentation

Q3 FY25

Investor Presentation

Q3 FY24

Actions

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Announcements

Last 7 days

Newest

Sentiment

Joint Venture

4 days ago

Kernex enters JV with Bharat Heavy Engineering to develop Moving Block System

Kernex Microsystems signed a JV agreement with Bharat Heavy Engineering Pvt Ltd (51% Kernex / 49% Bharat HE) to develop a Moving Block System integrated with ATS and ATO on the Kavach platform and CTC.

Joint Venture

4 days ago

Kernex enters JV with Bharat Heavy Engineering

Kernex Microsystems (India) Ltd. signed a joint venture with Bharat Heavy Engineering Pvt Ltd on 7 Mar 2026 to develop a Moving Block System integrated with ATS/ATO on the Kavach platform and CTC; JV split 51% Kernex / 49% Bharat.

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Frequently Asked Questions about Kernex Microsystems (India) Ltd

Kernex Microsystems (India) Ltd (KERNEX) is currently trading at 1,000.45 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.

Kernex Microsystems is a technology company specializing in developing anti-collision and train protection systems for railways, holding a significant position in the railway safety sector. The company's revenue from operations surged by 329% year-on-year for Q3 FY25, indicating robust growth and increased market demand for its products. Kernex's gross contribution margin improved significantly from -27% to 23% in Q3 FY25, demonstrating operational efficiency and improved financial performance. The firm’s strategic focus is bolstered by a substantial order book, currently valued at Rs 2,124.16 crore, showcasing strong future revenue potential. Kernex is expanding its production capabilities to stay ahead of demand for rail safety systems, reflecting its growth trajectory and market opportunities.

Over the past 52 weeks, Kernex Microsystems (India) Ltd has traded between a low of ₹625.55 and a high of ₹1,433.95. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.

Kernex Microsystems (India) Ltd has a market capitalization of approximately 1,672.26. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.

Kernex Microsystems (India) Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 32.16 and operates in the Electronics sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.

Based on its market capitalization of 1,672.26 Cr, Kernex Microsystems (India) Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.

Kernex Microsystems (India) Ltd operates in the Electronics sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.

The Price-to-Earnings (PE) ratio of Kernex Microsystems (India) Ltd is 32.16. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.

Kernex Microsystems India Ltd

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