Kernex Microsystems (India) Limited
NSE: KERNEXTransport Related Services
Share price
₹1,736.30
+2.11% close of 9 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
64
out of 100 · worked out 9 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹2,952 Cr
P/E ratio
15.5
P/B ratio
11.7
ROCE
47.8%
ROE
43.3%
Dividend yield
0.0%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Our sales figures for this company step up at Mar 2026 and we hold nothing that says why, so we cannot honestly quote a growth rate across it.
Whether it grew faster than its sector
Our sales figures for this company step up at Mar 2026 and we hold nothing that says why, so there is no honest growth rate of its own to set against its sector.
Room to re-rate, or risk of de-rating
Too little price history yet to compare it with its own past.
Whether growth justifies the valuation
Priced at 0.2 times its growth rate, on earnings growth of 86%.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Kernex Microsystems (India) Limited — this one | 86%/yr | 15.5× | ₹0.18 |
| InterGlobe Aviation | -11%/yr | — | — |
| GMR AIRPORTS LIMITED | 42%/yr | 173.5× | ₹4.1 |
| JSW Infrastructure Limited | 29%/yr | 50.9× | ₹1.8 |
| Container Corporation of India Limited | 2%/yr | 27.1× | ₹13.5 |
| Delhivery Limited | 26%/yr | 250.3× | ₹9.6 |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies across the whole Services sector, it ranks 4 of 143 on returns, 100 of 130 on growth, 31 of 143 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
A wide advantage: it earns 47.8% on capital, ahead of 97% of companies across its whole sector. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
No — Over the last five years the business itself consumed ₹197 crore of cash before any plant spend, funded from lenders and shareholders. And the profit is not backed by cash: it reported a profit over 12 years and consumed cash from the business. Its cash comes back faster than it used to: it went from being waiting 226 days for its cash to waiting 150 days for its cash.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
8 of 10 checks clear · 80%
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Revenue was Rs 503.6 Cr and net profit was Rs 109.8 Cr in Q1 FY27.
Announced 13 Aug 2026 · Consolidated · Unaudited
Revenue
₹504 Cr
Net profit
₹110 Cr
EPS
₹65.37
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹2,952 Cr
- Prev close
- ₹1,736.30
- 52w High
- ₹2,580
- 52w Low
- ₹850
- Enterprise value
- ₹3,087 Cr
- Beta
- 1.4
- Price CAGR 1y
- 53.0%
- Price CAGR 3y
- 54.0%
- Price CAGR 5y
- 87.0%
- Price CAGR 10y
- 46.0%
Ratios
- Return on assets
- 9.6%
- PEG ratio
- 0.2
- P/E ratio
- 15.5
- P/B ratio
- 11.7
- EV / EBITDA
- 10.3
- Industry P/E
- 20.1
- ROCE
- 47.8%
- ROCE 5y average
- 3.0%
- ROE
- 43.3%
- Debt / Equity
- 0.7
- Interest coverage
- 5.2
- Dividend yield
- 0.0%
- ROE 3y average
- 26.0%
- ROE last year
- 44.0%
Annual P&L
- Annual revenue
- ₹430 Cr
- Annual profit
- ₹88 Cr
- Operating margin
- 35.0%
- Net profit margin
- 20.5%
- EBITDA margin
- 34.7%
- Sales growth 3y
- 375.5%
- Sales growth 5y
- 88.6%
- Profit growth 3y
- 86.0%
- Profit growth 5y
- 116.0%
- EPS
- ₹52.6
- Sales growth TTM
- 305.0%
- Profit growth TTM
- 253.0%
- Dividend payout
- 0.0%
Quarter P&L
- Sales latest quarter
- ₹504 Cr
- Profit latest quarter
- ₹110 Cr
- YoY quarterly sales growth
- 800.4%
- YoY quarterly profit growth
- 1471.4%
- OPM latest quarter
- 32.3%
Balance Sheet
- Book Value
- ₹146
- Face Value
- ₹10.0
- Total debt
- ₹162 Cr
- Total cash
- ₹27 Cr
- Borrowings
- ₹162 Cr
- Reserves / Equity
- 13.6
Cash Flow
- Operating cash flow
- -₹100 Cr
- Free cash flow
- -₹107 Cr
- FCF yield
- -4.6%
- Net cash flow
- -₹14 Cr
Shareholding
- Promoter holding
- 28.7%
- FII holding
- 2.5%
- DII holding
- 0.1%
- Public holding
- 68.7%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| Blackbuck | 608.25 | 64.6 | 11,085 | 0.00 | 42.2 | 25.1 | 204.2 | 42.2 | 12.8 |
| Kernex Microsys. | 1,732.55 | 15.3 | 2,911 | 0.00 | 109.9 | 1372.5 | 503.6 | 800.4 | 47.8 |
| Median | 1,170.40 | 39.9 | 6,998 | 0.00 | 76.0 | 698.8 | 353.9 | 421.3 | 30.3 |
Competes with: BLACKBUCK LIMITED
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0.96 | 1.41 | 8.31 | 8.91 | 29 | 41 | 37 | 83 | 56 | 47 | 73 | 255 | 504 |
| Expenses | 1 | 5 | 13 | 21 | 24 | 31 | 28 | 66 | 43 | 33 | 56 | 149 | 341 |
| Material Cost | 27 | 30 | 69 | 180 | 116 | 268 | |||||||
| Change in Inventories | 20 | -2.60 | -50 | -155 | -15 | -21 | |||||||
| Purchases of Stock-in-Trade | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Employee Cost | 6.52 | 6.59 | 7.39 | 9.03 | 9.44 | 14 | |||||||
| Other Expenses | 12 | 9.03 | 7.14 | 21 | 39 | 80 | |||||||
| Operating Profit | -0 | -3 | -4 | -12 | 5 | 10 | 9 | 17 | 13 | 14 | 17 | 105 | 163 |
| OPM % | -52 | -242 | -54 | -139 | 17 | 25 | 23 | 21 | 22 | 30 | 23 | 41 | 32 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 |
| Exceptional items (within Other Income) | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Interest | 0 | 0 | 1 | 1 | 1 | 3 | 1 | 2 | 3 | 5 | 9 | 12 | 13 |
| Depreciation | 1 | 1 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| Profit before tax | -1 | -4 | -9 | -13 | 3 | 7 | 7 | 15 | 10 | 9 | 6 | 92 | 148 |
| Tax % | 9 | 10 | 1 | -5 | -4 | -0 | -1 | -114 | 22 | 28 | 3 | 26 | 26 |
| Net Profit | -1 | -5 | -9 | -13 | 4 | 7 | 7 | 33 | 7 | 7 | 6 | 68 | 110 |
| EPS in Rs | -0.57 | -2.85 | -5.07 | -7.53 | 2.16 | 4.09 | 4.28 | 19 | 4.45 | 3.92 | 3.59 | 41 | 65 |
| Diluted EPS in Rs | 19 | 4.44 | 3.86 | 3.61 | 41 | 65 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 18 | 12 | 12 | 13 | 8 | 15 | 18 | 7 | 4 | 20 | 190 | 430 | 878 |
| Expenses | 25 | 20 | 33 | 25 | 21 | 22 | 14 | 16 | 21 | 42 | 149 | 281 | 579 |
| Material Cost | 94 | 395 | |||||||||||
| Change in Inventories | 4.34 | -223 | |||||||||||
| Purchases of Stock-in-Trade | 0 | 0 | |||||||||||
| Employee Cost | 19 | 32 | |||||||||||
| Other Expenses | 31 | 77 | |||||||||||
| Operating Profit | -7 | -9 | -21 | -12 | -13 | -7 | 4 | -9 | -17 | -23 | 41 | 149 | 299 |
| OPM % | -37 | -76 | -171 | -87 | -158 | -49 | 21 | -142 | -416 | -117 | 22 | 35 | 34 |
| Other Income | 2 | 2 | 25 | 1 | -4 | 18 | 1 | -3 | 1 | 1 | 1 | 2 | 2 |
| Exceptional items (within Other Income) | 0 | 0 | |||||||||||
| Interest | 3 | 6 | 4 | 2 | 2 | 6 | 1 | 3 | 1 | 3 | 6.92 | 28 | 39 |
| Depreciation | 4 | 3 | 3 | 2 | 2 | 2 | 2 | 1 | 2 | 2.34 | 2.83 | 6 | 7 |
| Profit before tax | -13 | -16 | -2 | -15 | -22 | 3 | 2 | -17 | -20 | -27 | 32 | 117 | 256 |
| Tax % | -2 | -2 | 115 | -4 | -1 | -1 | 2 | 2 | 2 | -0 | -54 | 25 | |
| Net Profit | -13 | -16 | -4 | -15 | -21 | 3 | 2 | -17 | -20 | -27 | 50 | 88 | 191 |
| EPS in Rs | -10 | -13 | -3.24 | -12 | -17 | 2.74 | 1.62 | -14 | -13 | -16 | 30 | 53 | 114 |
| Diluted EPS in Rs | 30 | 53 | |||||||||||
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- 43%
- 5 years
- 89%
- 3 years
- 375%
- TTM
- 305%
Compounded profit growth
- 10 years
- 22%
- 5 years
- 116%
- 3 years
- 86%
- TTM
- 253%
Stock price CAGR
- 10 years
- 46%
- 5 years
- 87%
- 3 years
- 54%
- 1 year
- 53%
Return on equity
- 10 years
- 1%
- 5 years
- 14%
- 3 years
- 26%
- Last year
- 44%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 15 | 17 | 17 | 17 |
| Reserves | 101 | 84 | 75 | 64 | 43 | 46 | 50 | 36 | 67 | 90 | 141 | 231 |
| Borrowings | 28 | 33 | 24 | 26 | 21 | 11 | 20 | 18 | 11 | 28 | 40 | 162 |
| Other Liabilities | 20 | 27 | 21 | 19 | 16 | 16 | 12 | 14 | 11 | 27 | 38 | 509 |
| Minority Interest | -0.60 | -0.69 | ||||||||||
| Total Liabilities | 162 | 157 | 133 | 121 | 93 | 85 | 95 | 80 | 104 | 161 | 236 | 919 |
| Fixed Assets | 53 | 50 | 55 | 54 | 43 | 33 | 32 | 25 | 24 | 24 | 25 | 34 |
| CWIP | 10 | 10 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 2 | 7 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 99 | 97 | 78 | 68 | 50 | 53 | 63 | 55 | 78 | 135 | 204 | 885 |
| Total Assets | 162 | 157 | 133 | 121 | 93 | 85 | 95 | 80 | 104 | 161 | 236 | 919 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -6 | -4 | -26 | 3 | -23 | -11 | 3 | -5 | -36 | -71 | 15 | -100 |
| Cash from Investing Activity | 1 | 0 | 30 | -0 | 26 | 25 | -12 | -7 | -1 | -5 | -9 | -8 |
| Cash from Financing Activity | -2 | 3 | -4 | -2 | -2 | -6 | -1 | 0 | 45 | 64 | 5 | 94 |
| Net Cash Flow | -8 | -0 | 0 | 1 | 1 | 7 | -10 | -11 | 9 | -11 | 11 | -14 |
| Free Cash Flow | -6 | -4 | 4 | 3 | 6 | 12 | 3 | 1 | -37 | -76 | 6.16 | -107 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 1,043 | 1,643 | 1,236 | 996 | 674 | 316 | 239 | 596 | 0 | 94 | 45 | 268 |
| Inventory Days | 1,779 | 293 | 1,915 | 844 | 266 | 962 | 967 | 2,141 | 2,098 | 195 | 787 | |
| Days Payable | 962 | 325 | 1,225 | 405 | 20 | 101 | 177 | 43 | 460 | 76 | 938 | |
| Cash Conversion Cycle | 1,043 | 2,460 | 1,205 | 1,686 | 1,114 | 562 | 1,099 | 1,385 | 2,098 | 1,731 | 164 | 117 |
| Working Capital Days | 748 | 889 | 629 | 505 | 272 | 236 | 164 | 226 | 1,219 | 1,161 | 128 | 150 |
| ROCE % | -6 | -7 | -18 | -12 | -15 | -8 | 4 | -13 | -23 | -21 | 24 | 48 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash
135inr_cr
2026-03-31
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
News
News and filings about Kernex Microsystems (India) Limited. Open one to see why it matters.
20 Aug, 18:05 IST · Company event · medium impact
Kernex Microsystems (India) Limited has won a new order or contract
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
Uses as raw material
- CAB roof antenna for Loco Kavach systems
- Electronic components for railway safety systems (controllers and PLCs)
- Microchip/Xilinx FPGA platform components for MIE 3.0 cards
- Optical fibre cable (OFC backbone)
- PCB assemblies (surface-mount and mixed-technology)
- UHF communication backbone equipment
- Wire and cable assemblies, cabling and harnessing
operates infra for
- Egyptian National Railways
- North Central Railway
- South Central Railway
- South Eastern Railway
- Southern Railway
- Western Railway
Buys from
- ACS Technologies Limited · Train Collision Avoidance System (TCAS) PCB services. Carried from the prior discovery pas…
Sells to
- Banaras Locomotive Works · 505 on-board KAVACH loco equipment units
- Chittaranjan Locomotive Works · On-board KAVACH loco equipment (2,500 units)
- Dedicated Freight Corridor Corporation of India Ltd (DFCCIL) · Kavach ATP on 931-km Eastern DFC double-line section, incl. signalling towers
- Egyptian National Railways · Level-crossing safety systems, wheel sensors, booms and onboard safety systems
- Indian Railways · Kavach/TCAS train collision-avoidance and railway safety/signalling systems
- Integral Coach Factory, Chennai · 55 TCAS units; supply, installation and commissioning
- North Central Railway · Kavach/TCAS systems, towers and 4x48-fibre OFC backbone
- South Central Railway · Kavach upgrade (v3.2->4.0) and automatic block signalling
- South Eastern Railway · Kavach on GO & GO routes (688 RKM), Kharagpur & Chakradharpur divisions
- Southern Railway · Kavach systems with tower and 48-fibre OFC backbone network
- Western Railway · Kavach v4.0, UHF and OFC communication backbone
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Services
- Industry
- Transport Related Services
- Classification
- Services › Transport Related Services
- ISIN
- INE202H01019
Plants
- Kernex Microsystems manufacturing facility (100% EOU)
News impact
Big market events that reach Kernex Microsystems (India) Limited, and how the effect spreads.
No recent market events reach this company.
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 20 Sep 2012 | unspecified | ₹1 |
|---|---|---|
| 19 Sep 2011 | unspecified | ₹1 |
| 16 Oct 2007 | bonus | ₹0 |
Splits, bonuses & buybacks
- daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016
Bulk & block deals
| Date | Who | Bought / sold | Shares | Price |
|---|---|---|---|---|
| 18 Aug 2026 | QE SECURITIES LLP | BUY | 1,02,150 | ₹1,852.15 |
| 18 Aug 2026 | HRTI PRIVATE LIMITED | SELL | 1,01,858 | ₹1,853.03 |
| 18 Aug 2026 | QE SECURITIES LLP | SELL | 99,466 | ₹1,842.03 |
| 18 Aug 2026 | HRTI PRIVATE LIMITED | BUY | 94,703 | ₹1,838.06 |
| 17 Aug 2026 | HRTI PRIVATE LIMITED | BUY | 1,30,695 | ₹1,840.90 |
| 17 Aug 2026 | HRTI PRIVATE LIMITED | SELL | 1,02,180 | ₹1,861.05 |
| 17 Aug 2026 | QE SECURITIES LLP | BUY | 93,243 | ₹1,886.72 |
| 17 Aug 2026 | QE SECURITIES LLP | SELL | 87,287 | ₹1,836.47 |
| 13 Aug 2026 | HRTI PRIVATE LIMITED | BUY | 1,37,057 | ₹2,324.21 |
| 13 Aug 2026 | HRTI PRIVATE LIMITED | SELL | 1,34,217 | ₹2,333.25 |
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Annual report · 2024-255 Sep 2025
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.