Kernex Microsystems (India) Ltd - Stock Valuation and Financial Performance

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

Kernex Microsystems Share Price

560 -9.45 -1.66%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Kernex Microsystems

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Kernex Microsystems (India) stock performance -

mw4me loader
P/E Ratio (SA):
0.00
Market Cap:
934.5 Cr.
52-wk low:
225
52-wk high:
718

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 Fair zone.

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

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

10 Year X-Ray of Kernex Microsystems:

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'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % -0.5%-4.9%-8.1%-14.9%-11.4%-35.6%-3.5%1.2%-20%-20.3%-
Value Creation
Index
-1.0-1.4-1.6-2.1-1.8-3.5-1.3-0.9-2.4-2.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 29.821.411.912.313.37.514.615.65.4211
Sales YoY Gr.--28.2%-44.4%3.4%8.2%-43.9%95.7%6.6%-65.6%-62.7%-
Adj EPS -2.3-7.6-11.1-16.4-11-26.3-2.80.3-13.7-12.3-9.6
YoY Gr.-NANANANANANANA-5170.4%NA-
BVPS (₹) 103.294.883.676.965.549.355.756.142.559.771.7
Adj Net
Profit
-2.9-9.4-13.8-20.5-13.8-32.9-3.50.3-17.1-19-16
Cash Flow from Ops. -2.10.6-5.9-25.92.5-25-8.10.9-5.4-30.6-
Debt/CF from Ops. -10.134.3-4.6-0.77.7-0.5-0.715.1-2.2-0.3-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -25.9%-31.6%-48.5%-62.7%
Adj EPS NANANANA
BVPS-5.9%-1.8%2.3%40.6%
Share Price 32.3% 89.4% 110.3% 126.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
-2.2-7.6-12.4-20.5-15.5-45.9-5.30.5-26.6-25.2-14.6
Op. Profit
Mgn %
5.8-17.4-71.2-169.5-78.1-163.1-48.97.5-180.4-739.4-111.7
Net Profit
Mgn %
-9.6-44.1-116.2-167-103.5-440-23.92.2-319.2-948.9-148.8
Debt to
Equity
0.20.20.30.20.20.20.10.20.20.1-
Working Cap
Days
1,0881,5842,7092,3601,7562,2007478022,3986,6185,869
Cash Conv.
Cycle
7171,1262,0991,7581,1521,4473913631,2683,5834,239

Recent Performance Summary

Sales growth is good in last 4 quarters at 814.56%

Return on Equity is Poor

Sales growth has been subdued in last 3 years -48.47%

Latest Financials - Kernex Microsystems (India) Ltd.

Standalone Consolidated
TTM EPS (₹) -9.6 -10.3
TTM Sales (₹ Cr.) 10.8 5
BVPS (₹.) 71.7 67.7
Reserves (₹ Cr.) 103 97
P/BV 7.77 8.24
PE 0.00 0.00
From the Market
52 Week Low / High (₹) 225.00 / 718.00
All Time Low / High (₹) 11.03 / 718.00
Market Cap (₹ Cr.) 935
Equity (₹ Cr.) 16.8
Face Value (₹) 10
Industry PE 89.1

Management X-Ray of Kernex Microsystems:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.008.778.778.778.77
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Kernex Microsystems

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales30211212137151652
Operating Expenses 28252033252022151518
Manufacturing Costs13857634334
Material Costs115132410431
Employee Cost 9974544557
Other Costs 57491284335
Operating Profit 2-4-8-21-11-12-71-10-16
Operating Profit Margin (%) 5.8%-17.4%-71.2%-169.0%-85.0%-163.0%-49.4%6.8%-182.0%-799.0%
Other Income 322212118221
Interest 3343221122
Depreciation 4433222212
Exceptional Items 000240-2500-40
Profit Before Tax -2-10-14-1-15-2180-16-19
Tax 0002-100000
Profit After Tax -2-9-13-4-14-2180-17-20
PAT Margin (%) -5.7%-43.9%-111.0%-28.5%-108.0%-276.0%55.1%2.4%-309.0%-991.0%
Adjusted EPS (₹)-1.4-7.5-10.6-2.8-11.5-16.56.50.3-13.3-12.8
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 12911810496826270705392
Share Capital 12121212121212121215
Reserves 1171069284694957584177
Minority Interest0000000000
Debt212227181913514129
Long Term Debt0000000000
Short Term Debt212227181913514128
Trade Payables1213138701333
Others Liabilities 871010128910147
Total Liabilities 17016015513211983849782111

Fixed Assets

Gross Block77777783837566676263
Accumulated Depreciation19242728303234353739
Net Fixed Assets58535055544333322524
CWIP 1010100000000
Investments 111111118813
Inventories212625109218712
Trade Receivables5552524137151313119
Cash Equivalents 76566713171932
Others Assets18121318131414191121
Total Assets 17016015513211983849782111

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -21-6-262-25-81-5-31
PBT -2-10-14-1-15-2180-16-19
Adjustment 677-221312-14165
Changes in Working Capital -631-34-16-3-05-16
Tax Paid 0000000000
Cash Flow From Investing Activity -110300291546-4
Capex -100290282405-1
Net Investments 000000-1030-5
Others 0100001111
Cash Flow From Financing Activity 1-25-3-2-2-1-1148
Net Proceeds from Shares 00000000049
Net Proceeds from Borrowing 000-3000000
Interest Paid -3-3-40-2-2-1-1-2-2
Dividend Paid 0000000000
Others 4190000040
Net Cash Flow -2-1000154213
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-1.32-7.59-11.92-3.5-16.22-28.8412.290.53-26.92-27.32
ROCE (%)0.66-4.33-7.071.61-11.96-21.1912.391.68-17.9-19.94
Asset Turnover Ratio0.180.130.080.090.110.070.170.170.060.02
PAT to CFO Conversion(x)N/AN/AN/AN/AN/AN/A-1INFN/AN/A
Working Capital Days
Receivable Days6239171,5681,3811,0661,2643513018241,891
Inventory Days227405765520258270471135281,765
Payable Days2,9713,1419583101,24328114179350954

Kernex Microsystems (India) Ltd Stock News

Kernex Microsystems (India) Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Kernex Microsystems on 28-Mar-2024 16:01 is ₹560.0.
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 28-Mar-2024 16:01 the market cap of Kernex Microsystems stood at ₹934.5.
The latest P/E ratio of Kernex Microsystems as of 28-Mar-2024 16:01 is 0.00.
The latest P/B ratio of Kernex Microsystems as of 28-Mar-2024 16:01 is 7.77.
The 52-week high of Kernex Microsystems is ₹718.0 and the 52-week low is ₹225.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Kernex Microsystems is ₹10.79 ( 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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