Kernex Microsystems (India) Ltd

KERNEX

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Market Cap

₹ 1,697 Cr

P/E

31.54

Turned 1 L into 40.19 L in last 5 Years

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Performance

MARKET LEADER

Valuation

REASONABLE

Growth

STABLE

Profitability

HIGH MARGIN

Technicals

Bearish

Risk

MODERATE RISK

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Price

PE Ratio

Price

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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

1,697 Cr

Volatility

High Risk

P/E Ratio

31.5

Industry P/E

53.0

PEG Ratio

0.1

P/B Ratio

9.8

52W High

1,584.00

52W Low

625.55

Sales CAGR

868.21%

228.32%

66.95%

10Y

35.72%

Profit CAGR

287.38%

—

44.58%

10Y

—

ROE

TTM

30.97%

1.16%

-2.45%

10Y

-7.67%

ROCE

TTM

19.42%

-0.91%

-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	163.90	1,833 Cr	71.26	1.26	0.00	1.77	3.75	1.23
KERNEX	1012.90	1,697 Cr	31.54	9.77	0.00	30.97	19.42	11.62
AIMTRON	803.60	1,640 Cr	63.98	10.58	0.00	17.45	23.36	13.36
VINYAS	1175.10	1,479 Cr	76.16	10.06	0.00	10.12	12.89	5.34
MICEL	44.68	1,077 Cr	111.70	4.71	0.00	4.19	6.76	2.73
CWD	2013.50	885 Cr	352.63	10.00	0.00	8.09	8.96	4.62
ELIN	167.20	830 Cr	21.66	1.50	0.00	6.91	10.27	4.70

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	0.96	1.41	8.31	8.91	29	41	37	83	56	47
Expenses	1.46	4.82	13	21	24	31	28	66	43	33
Operating Profit	-0.50	-3.41	-4.50	-12	4.86	10	8.58	17	13	14
OPM %	-52.08	-241.84	-54.15	-138.72	16.95	24.87	23.31	20.61	22.49	30.28
Other Income	0.47	0.26	0.50	0.08	0.24	0.26	0.33	0.62	0.36	0.49
Interest	0.21	0.40	1.25	0.52	1.03	3.06	1.22	1.61	2.55	4.69
Depreciation	0.62	0.56	3.26	0.53	0.63	0.65	0.62	0.93	0.84	0.97
Profit Before Tax	-0.86	-4.10	-8.51	-13	3.43	6.80	7.07	15	9.55	9.10
Tax %	-9.30	-10.49	-0.59	4.88	-3.79	-0.29	-0.85	-114.01	22.41	28.35
Net Profit	-0.94	-4.54	-8.56	-13	3.57	6.81	7.14	33	7.41	6.52
EPS in Rs	-0.61	-2.55	-5.54	-7.53	2.16	4.09	4.29	19.40	4.45	3.86

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	-10.28	-11.48	-16.22	29.94	32.00
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

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	31.27%	31.60%	31.60%	31.60%	29.15%	29.15%	29.15%	29.15%	29.09%	29.09%	28.97%	28.97%
FIIs	0.00%	0.00%	0.00%	0.03%	0.01%	0.01%	0.00%	0.49%	1.16%	0.07%	0.52%	0.54%
DIIs	0.08%	0.07%	0.07%	0.07%	0.07%	0.07%	0.06%	0.10%	0.79%	1.16%	1.17%	0.45%
Public	68.65%	68.33%	68.33%	68.31%	70.78%	70.77%	70.79%	70.26%	68.96%	69.68%	69.34%	70.04%
Total Shareholders	13,091	13,094	13,791	14,660	15,007	16,240	22,241	27,058	34,242	37,894	42,149	42,785

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Dec 09, 2025	Irage broking services llp	Bulk	Buy	1,000.05	0.08 Cr	823	0.00
Dec 09, 2025	Irage broking services llp	Bulk	Sell	1,030.69	10.60 Cr	1,02,859	0.61
Dec 09, 2025	Irage broking services llp	Bulk	Buy	1,030.14	10.58 Cr	1,02,741	0.61
Dec 09, 2025	Irage broking services llp	Bulk	Sell	1,006.77	0.07 Cr	705	0.00
Jun 06, 2025	Venkataramamurthy raju lakamraju	Insider - Promoter Group	Disposal	1,149.50	0.33 Cr	2,883	0.02
Mar 24, 2025	Janardhana reddy vinta	Insider - Director	Disposal	637.43	1.91 Cr	30,000	0.17
Mar 18, 2025	Narender revised	Insider - Designated Person	Disposal	807.00	11.68 Cr	1,44,766	0.85
Mar 14, 2025	Narender	Insider - Designated Person	Disposal	807.00	10.88 Cr	1,34,766	0.79
Mar 04, 2025	Janardhana reddy vinta	Insider - Director	Acquisition	850.00	0.51 Cr	6,000	0.03
Feb 25, 2025	Janardhana reddy vinta	Insider - Director	Acquisition	900.54	2.90 Cr	32,161	0.19

Projection

Actions

Action Type

‌
‌

Announcements

Last 7 days

Newest

Sentiment

Corporate Action

2 hours ago

Equity Shares Allotment Announcement

Kernex Microsystems (India) Ltd. has allotted 43,000 equity shares pursuant to the KMIL ESOS-2023, increasing the paid-up equity share capital.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q3 FY25

Investor Presentation

Q3 FY24

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Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	0.96	1.41	8.31	8.91	29	41	37	83	56	47
Expenses	1.46	4.82	13	21	24	31	28	66	43	33
Operating Profit	-0.50	-3.41	-4.50	-12	4.86	10	8.58	17	13	14
OPM %	-52.08	-241.84	-54.15	-138.72	16.95	24.87	23.31	20.61	22.49	30.28
Other Income	0.47	0.26	0.50	0.08	0.24	0.26	0.33	0.62	0.36	0.49
Interest	0.21	0.40	1.25	0.52	1.03	3.06	1.22	1.61	2.55	4.69
Depreciation	0.62	0.56	3.26	0.53	0.63	0.65	0.62	0.93	0.84	0.97
Profit Before Tax	-0.86	-4.10	-8.51	-13	3.43	6.80	7.07	15	9.55	9.10
Tax %	-9.30	-10.49	-0.59	4.88	-3.79	-0.29	-0.85	-114.01	22.41	28.35
Net Profit	-0.94	-4.54	-8.56	-13	3.57	6.81	7.14	33	7.41	6.52
EPS in Rs	-0.61	-2.55	-5.54	-7.53	2.16	4.09	4.29	19.40	4.45	3.86

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	-10.28	-11.48	-16.22	29.94	32.00
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)

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
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

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
DCXINDIA	163.90	1,833 Cr	71.26	1.26	0.00	1.77	3.75	1.23
KERNEX	1012.90	1,697 Cr	31.54	9.77	0.00	30.97	19.42	11.62
AIMTRON	803.60	1,640 Cr	63.98	10.58	0.00	17.45	23.36	13.36
VINYAS	1175.10	1,479 Cr	76.16	10.06	0.00	10.12	12.89	5.34
MICEL	44.68	1,077 Cr	111.70	4.71	0.00	4.19	6.76	2.73
CWD	2013.50	885 Cr	352.63	10.00	0.00	8.09	8.96	4.62
ELIN	167.20	830 Cr	21.66	1.50	0.00	6.91	10.27	4.70

Oscillators

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

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

1,697 Cr

Volatility

High Risk

P/E Ratio

31.5

Industry P/E

53.0

PEG Ratio

0.1

P/B Ratio

9.8

52W High

1,584.00

52W Low

625.55

Sales CAGR

868.21%

228.32%

66.95%

10Y

35.72%

Profit CAGR

287.38%

—

44.58%

10Y

—

ROE

TTM

30.97%

1.16%

-2.45%

10Y

-7.67%

ROCE

TTM

19.42%

-0.91%

-2.82%

10Y

-5.13%