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Kernex Microsystems (India) Ltd (KERNEX) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

BSE: 532686 NSE: KERNEX | Electronics - Components | Small Cap

Kernex Microsystems Share Price

1,166.20 57.55 (5.19%)
As on 10-Apr'26 16:59

Kernex Microsystems (India) Ltd (KERNEX)

BSE: 532686 NSE: KERNEX
Key Metrics
Market Cap
₹1,960 Cr.
P/E Ratio
40.34
Price to Book (P/B)
10.22
Price to Sales (P/S)
7.71
EV/EBITDA
34.33
Return on Capital Employed (ROCE)
22.32%
Current Price
₹1,166.2
Return on Equity (ROE)
34.60%
Return on Assets (ROA)
25.43%
Operating Profit Margin
21.5%
Net Profit Margin
26.85%
Gross Profit Margin
19.1%
Book Value per Share
₹114.1
Sales Growth (YoY)
882.64%
Sales Growth (3 Years)
228.29%
Operating Profit Growth (1 Year)
NA%
Operating Profit Growth (3 Years)
N/A%
Net Profit Growth (1 Year)
NA%
52-Week Low / High
₹672 / 1,434
Net Profit Growth (3 Years)
N/A%
Dividend Yield
0.00%
Promoter Holding
28.85%
Pledged shares (%)
of Promoter's holding (%)
8.84%

Check Before You Invest

Q.1
Kernex Microsystems (India) Ltd belongs to the Capital Goods & Industrial Consumables sector, operating specifically within the Electronics - Components segment.
Q.1 Gross Profit margin of Kernex Microsystems (India) Ltd?
Kernex Microsystems (India) Ltd Gross profit margin which is the profit after deduction of direct costs, is 19.1% for FY-2025 , which is above its 5 year median of 0% , indicating increasing margins.
Q.1 Promoter shareholding and pledge status of Kernex Microsystems (India) Ltd?
Promoters hold 28.85% of the Kernex Microsystems (India) Ltd, with 8.84% of their stake pledged, indicating low pledge risk.
Q.1 Revenue growth of Kernex Microsystems (India) Ltd vs industry peers?
Kernex Microsystems (India) Ltd revenue CAGR is 66.96% , compared to the industry median CAGR of 0% , indicating faster growth and gaining its market share.
Q.1 Stock return of Kernex Microsystems (India) Ltd over the last decade?
Over the last 9 years, the stock has delivered a CAGR of 43% based on the current price.
Q.1 Is Kernex Microsystems (India) Ltd a good quality company?
Kernex Microsystems (India) Ltd is a quality company, based on a 10 year financial track record .

DeciZen - make an informed investing decision on Kernex Microsystems

Based on:

Overall Rating

1. Quality

2. Valuation

Overvalued

3. Price Trend

Strong

Kernex Microsystems (India) stock performance

Key Ratios
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Is Kernex Microsystems (India) Ltd an attractive stock to invest in?

1. Is Kernex Microsystems (India) Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Kernex Microsystems (India) Ltd is a below average quality company.

2. Is Kernex Microsystems (India) Ltd undervalued or overvalued?

The key valuation ratios of Kernex Microsystems (India) Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Kernex Microsystems (India) Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Kernex Microsystems (India) Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray :

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Kernex Microsystems (India) Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % -7.1%1.6%-12%-21.2%12.4%1.7%-17.9%-19.9%-14.4%22.3%-
Value Creation
Index
-1.5-0.9-1.9-2.5-0.1-0.9-2.3-2.4-2.00.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 11.912.313.37.514.615.65.4219.3190254
Sales YoY Gr.-3.4%8.2%-43.9%95.7%6.6%-65.6%-62.7%865%882.6%-
Adj EPS -11.1-16.4-11-26.3-2.80.3-13.7-12.3-11.830.328.9
YoY Gr.-NANANANANA-5170.4%NANANA-
BVPS (₹) 83.676.965.549.355.756.142.559.772.7102.9114.1
Adj Net
Profit
-13.8-20.5-13.8-32.9-3.50.3-17.1-19-19.850.849
Cash Flow from Ops. -5.9-25.92.5-25-8.10.9-5.4-34.4-69.410.8-
Debt/CF from Ops. -4.6-0.77.7-0.5-0.715.1-2.2-0.3-0.43.7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 36%67%228.3%882.6%
Adj EPS NANANANA
BVPS2.3%13.1%34.3%41.6%
Share Price 42.9% 86.3% 71% 40.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-12.4-20.5-15.5-45.9-5.30.5-26.6-25.2-18.534.426.6
Op. Profit
Mgn %
-71.2-169.5-78.1-163.1-48.97.5-180.4-739.4-85.821.522.1
Net Profit
Mgn %
-116.2-167-103.5-440-23.92.2-319.2-948.9-102.726.819.1
Debt to
Equity
0.30.20.20.20.10.20.20.10.20.2-
Working Cap
Days
2,7092,3601,7562,2007478022,3986,6181,492254251
Cash Conv.
Cycle
2,0991,7581,1521,4473913631,2682,9007898694

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 26.60%

Sales growth is growing at healthy rate in last 3 years 228.29%

Sales growth is good in last 4 quarters at 255.50%

Net Profit has been subdued in last 3 years 0.00%

Latest Financials

Standalone Consolidated
TTM EPS (₹) 28.9 31.3
TTM Sales (₹ Cr.) 254 259
BVPS (₹) 114.1 107.1
Reserves (₹ Cr.) 175 163
P/BV 10.22 10.89
PE 40.34 37.21
From the Market
52 Week Low / High (₹) 672.05 / 1433.95
All Time Low / High (₹) 11.03 / 1584.00
Market Cap (₹ Cr.) 1,960
Equity (₹ Cr.) 16.8
Face Value (₹) 10
Industry PE 50.1

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *8.778.778.778.778.798.798.828.828.828.84
* Pledged shares as % of Promoter's holding (%)

Valuation of Kernex Microsystems - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Event Update

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Analyst's Notes

data not found
No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales121213715165219190
Operating Expenses + 203325202215151837149
Manufacturing Costs57634335420
Material Costs51324104311399
Employee Cost 745445571117
Other Costs 491284335813
Operating Profit -8-21-11-12-71-10-16-1741
Operating Profit Margin (%) -71.2%-169.0%-85.0%-163.0%-49.4%6.8%-182.0%-799.0%-90.3%21.5%
Other Income + 221211822122
Exceptional Items 0240-2500-4000
Interest 4322112237
Depreciation 3322221223
Profit Before Tax -14-1-15-2180-16-19-2033
Tax -02-1-0-0000-0-18
Profit After Tax -13-4-14-2180-17-20-2051
PAT Margin (%) -111.0%-28.5%-108.0%-276.0%55.1%2.4%-309.0%-991.0%-105.0%26.9%
Adjusted EPS (₹)-10.6-2.8-11.5-16.56.50.3-13.3-12.8-12.230.4
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 10496826270705392122173
Share Capital 12121212121212151717
Reserves 9284694957584177105156
Debt +271819135141292440
Long Term Debt0000000000
Short Term Debt271819135141282439
Minority Interest0000000000
Trade Payables1387013332016
Others Liabilities 10101289101477-0
Total Liabilities 15513211983849782111173228

Fixed Assets

Net Fixed Assets +50555443333225242425
Gross Block77838375666762636569
Accumulated Depreciation27283032343537394144
CWIP 10000000027
Investments 11111188131313
Inventories251092187147252
Trade Receivables524137151313110519
Cash Equivalents 5667131719321934
Others Assets 13181314141911293878
Total Assets 15513211983849782111173228

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -6-262-25-81-5-34-6911
PBT -14-1-15-2180-16-19-2033
Adjustment 7-221312-14165816
Changes in Working Capital 1-34-16-3-05-20-57-38
Tax Paid 0000000000
Cash Flow From Investing Activity + 030-0291546-5-5-9
Capex 029-02824-05-1-2-4
Net Investments 0000-1030-500
Others 00001111-2-5
Cash Flow From Financing Activity + 5-3-2-2-1-1148639
Net Proceeds from Shares 000000049500
Net Proceeds from Borrowing 0-30-0-0000-00
Interest Paid -40-2-2-1-1-2-2-3-7
Dividend Paid 0000000000
Others 900000401616
Net Cash Flow -00015429-1111

Finance Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-11.92-3.5-16.22-28.8412.290.53-26.92-27.32-19.0634.6
ROCE (%)-7.071.61-11.96-21.1912.391.68-17.9-19.94-14.3722.32
Asset Turnover Ratio0.080.090.110.070.170.170.060.020.140.95
PAT to CFO Conversion(x)N/AN/AN/AN/A-1N/AN/AN/AN/A0.22
Working Capital Days
Receivable Days1,5681,3811,0661,264351301824010123
Inventory Days765520258270471135281,932811119
Payable Days9583101,2432811417935081933365

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Kernex Microsystems (India) Ltd FAQs

The current trading price of Kernex Microsystems on 10-Apr-2026 16:59 is ₹1,166.2.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 09-Apr-2026 the market cap of Kernex Microsystems stood at ₹1,959.5 Cr

The latest P/E ratio of Kernex Microsystems as of 09-Apr-2026 is 40.34.

The latest P/B ratio of Kernex Microsystems as of 09-Apr-2026 is 10.22.

The 52-week high of Kernex Microsystems is ₹1,434 and the 52-week low is ₹672.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Kernex Microsystems is ₹254 ( Cr.) .

About Kernex Microsystems (India) Ltd

Kernex Microsystems was incorporated on September 15, 1991 as a private limited company with the object of designing, developing, installing and maintaining software packages for domestic and international markets. They are registered as 100% Export Oriented Unit (EOU) with Software Technology Parks of India, Department of Electronics, Govt. of India, New Delhi.

The company is presently engaged in the business of manufacturing, installing and maintaining of anti-collision systems as well as conceptualizing, designing, and developing certain railway safety and signal systems for Konkan Railways Corporation Ltd. These safety and signal systems are suitable for medium to low speed & density railway tracks like in India and other developing countries.

It entered into technology partnership with Konkan Railway Corporation Ltd, Navi Mumbai for design, engineering and development of anti-collision systems for providing safety to trains in Railways. It hold exclusive license for manufacturing, installation, commissioning and maintenance of anti-collision systems in India. The company also has an outsourced facility for the Konkan Railways Corporation Ltd. for manufacture and supply of ACDs and related accessories.

The company is a technology partner for the development and implementation of ADDs for Metro Sky-Bus Urban Transportation System, Advanced Railway Signal Systems and other safety systems. It holds the exclusive marketing rights of ACD systems all over the world except India.

They developed and exported software packages from 1993 to 2003 namely “Mimex” for GUI application, LearnX a self learning tool, ELX, Flicker, MathX, EzEc Builder, Netcare, E-DOCS, etc. With E-DOCS, They provided powerful, extensible and affordable document management and imaging solutions to companies and organizations looking to reduce their dependence on paper distributed information more efficiently and assist collaboration among users. MathX was an interactive mathematical wizard on MS-Windows, NT and 95 for evaluating complete expressions and solving intricate equations. It provided an easy to use interface to combine equations, graphics and text in single/multiple documents. EzEc Builder package was an integrated Electronic Commerce Tool to create and maintain supermarkets on Internet. It provided a BackOffice administration and an extensive set of canned reports. A virtual ERP, with all facets of electronics commerce, inventory control, financial accounting and customer management. Their turnover increased from Rs. 4.5 Million to Rs. 78 Million during fiscal year 1993 to 2003. In the domestic market, we also developed Intelligent Data Acquisition System and installed on Konkan Railways in 53 stations from 1997 to 1999.

The company started developing Railway Safety systems from 1999 and successfully developed and demonstrated a prototype of ACDs to Konkan Railway Corporation and Members of the Railway Safety Board. In March 2000 we entered into a Memorandum of Understanding with KRCL for Technical Collaboration for developing full scale networked Anti-Collision Systems (ACDs). They, jointly with KRCL, took up an intensive analysis of the major accidents that occurred in India, The functional requirements of the clients and operational safety procedures have been fully considered, for designing the logics of Anti Collision Systems. Based on the concept and domain knowledge provided by Konkan Railway Corporation Ltd, we developed the networked Anti-Collision Devices, using Global Positioning System, Radio Data Communication, Application Logics and Inter facing these with an Auto Breaking System developed by KRCL.

With operations in USA and planned operations in Far East, Africa and Middle East, Kernex is truly a global player in the offing.

Product range of the company includes:

  • Raksha kavach- It is a fully integrated, state of the art electronic control system designed to minimize collisions and increase safety on any railway network, both freight as well as passenger trains. It is a non-vital system providing an additional layer of safety in train operations to prevent dangerous train collisions, caused due to human errors or limitations and equipment failures.
  • Auto Control System - Auto control system (ACS) from is a cost-effective solution for rail based urban mass transportation. It can be used in both Manual and Auto mode operations. It supports Drivers, Station managers and Supervising staff with automatic functions and display information. This system monitors and controls continuously rail movements, Rail and station operations with the help of fail-safe signaling methodologies
  • Satdham Safety System (SSS)- The present signal systems involve fixed optical signals and physical monitoring wherein track circuits and relays are used. These are further linked and net worked with complex logical paths and routes on which a train is to be received or dispatched. Physical wiring and very large number of relays with on / off status are combined and designs with layout plans for wiring are prepared laboriously to ensure interlocking of signals.
  • Auto Tracking And Safety System (ATS) - Advancements in Modern communication technology can effectively be used to provide solutions and improve quality and efficiency of our transportation system. ATS is a fleet tracking, security and management solution for owners of vehicles to obtain information on the location and status of each vehicle in real-time.
  • Accurex- Accurex is a state of art Data Acquisition System developed and engineered by Kernex Microsystems ( India ) Ltd., Hyderabad . Accurex follows open systems standard and can be used for a wide range of applications such as Railways, Process Industries, R&D establishments, Defence establishments etc. Accurex comprises of a Central Monitoring Unit (CMU) and a number of Intelligent Data Acquisition Systems (IDAS) connected on a wide area network, which can be based on a copper cable, Telephone network, Optical Fibre cable, VHF/UHF/Microwave/GSM Radio network or Satellite link.
  • Edocs- Edocs is a 100% browser-based document management system that transforms the way businesses work with both paper and electronic documents. Enterprise and/or departmental applications involving: Document Management and Workflow Scanning PDF file management It can be easily implemented at a fraction of the cost of older client/server systems. The cornerstone of EDOCS's architecture is a COM-based API, which integrates seamlessly with other Windows® NT-based Internet, Intranet, or extranet applications.

The customer list of the company includes:

  • Konkan Railway Corporation Limited (also a technical partner)
  • North-East Frontier Railway
  • SKYBUS METRO Corporation Limited
  • DAXPRO, Kuala Lumpur, Malaysia
  • Electronic Corporation of India Limited
  • Singareni Collieries Company Limited
  • Wolverine Information Systems Inc. U.S.A
  • JKL Corporation Fremont, CA, U.S.A
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