Kernex Microsystems (India) Ltd.

•

kernex.inBSE: 532686NSE: KERNEX

Market Cap₹ 2,914 Cr.

Current Price

High / Low₹ 2,580 / 850

Stock P/E15.3

Book Value₹ 213

Price to Book8.30

Dividend Yield0.00 %

ROCE23.7 %

ROE38.0 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company has delivered good profit growth of 71.0% CAGR over last 5 years
Latest quarter profit grew 1382.0% YoY, showing strong momentum
Operating margins have improved to 21.5% from -115.8%
Company has delivered good sales growth of 66.4% CAGR over last 5 years
Working capital cycle has improved - days down from 1474 to 212
Company maintains a comfortable, low leverage position

CONS

Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -27.89x)
Company has a low return on capital employed of -6.8%
Company has a low return on equity of -7.4% over last 3 years
Operating cash flow has been negative in recent years
Effective tax rate is unusually low at -54.0% - earnings may be flattered
Equity base is being diluted - shares outstanding up 34.1%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsElectricalsElectronics - Components

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SYRMA	1588.65	83.22	30634.01	0.09	105.69	111.72	1588.62	68.29	17.70	10.17
2.	KAYNES	3500.00	67.87	23462.13	0.00	56.43	-24.37	946.02	40.47	13.38	15.60
3.	AVALON	2265.95	113.44	15155.19	0.00	34.87	145.31	484.41	49.83	20.34	11.96
4.	UTLSOLAR	446.70	46.58	13709.30	0.00	577.94	—	13456.93	—	36.46	18.94
5.	CYIENTDLM	904.15	87.42	7177.45	0.00	16.29	118.21	373.80	34.25	10.41	9.93
6.	VIKRAMSOLR	166.80	16.94	6044.07	0.00	19.78	-85.17	1563.09	37.89	34.07	8.06
7.	SAATVIKGL	396.30	20.30	5037.17	0.00	5.36	-95.49	511.01	-44.20	55.18	6.62
8.	WEBELSOLAR	75.79	10.86	3290.52	0.33	77.79	—	372.60	115.39	63.74	33.70
9.	KERNEX	1734.35	15.28	2914.34	0.00	109.85	1382.00	503.58	800.38	23.69	32.33
10.	MODINSULAT	449.50	22.51	2119.12	0.00	29.60	94.43	188.30	33.19	10.53	16.89
11.	INA	93.04	10.24	2051.08	0.00	380.25	796.94	7406.98	1766.82	34.98	9.74
12.	IKIO	224.45	37.30	1734.57	0.00	11.05	364.51	169.29	40.91	10.02	12.97

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	1	1	8	9	29	41	37	83	56	47	73	255	504
	1	5	13	21	24	31	28	66	43	33	56	149	356
Operating Profit	-0	-3	-4	-12	5	10	9	17	13	14	17	105	148
OPM %	-52.08%	-241.84%	-54.15%	-138.72%	16.95%	24.87%	23.31%	20.61%	22.49%	30.28%	23.14%	41.29%	29.32%
	0	0	0	0	0	0	0	1	0	0	0	1	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 %	-9.30%	-10.46%	-0.59%	4.88%	-4.08%	-0.29%	-0.85%	-114.01%	22.41%	28.35%	3.35%	25.91%	25.85%
Net Profit	0	0	0	0	4	7	7	33	7	7	6	68	110
	-0.66	-2.78	-5.44	-7.53	2.16	4.09	4.29	19.44	4.45	3.87	3.61	40.69	65.37

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	12	12	13	8	15	18	7	4	20	190	878
	21	33	25	21	22	14	16	21	42	149	594
Operating Profit	-9	-21	-12	-13	-7	4	-9	-17	-23	41	284
OPM %	-73.50%	-170.82%	-87.22%	-158.11%	-49.29%	20.89%	-141.83%	-416.29%	-116.71%	21.50%	32.33%
	2	25	1	-4	18	1	-3	1	1	1	2
Interest	6	4	2	2	6	1	3	1	3	7	39
Depreciation	3	3	2	2	2	2	1	2	2	3	7
Profit before Tax	-16	-2	-15	-22	3	2	-17	-20	-27	33	256
Tax %	2.01%	-115.04%	3.69%	1.14%	-1.00%	2.54%	-2.08%	-2.44%	0.32%	-53.97%	25.41%
Net Profit	-16	-4	-15	-21	3	2	-17	-20	-27	50	191
EPS	-12.75	-3.24	-11.77	-17.06	2.74	1.62	-13.76	-14.64	-15.76	29.98	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 26%
5 Years:: 66%
3 Years:: 206%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 71%
3 Years:: —

STOCK PRICE CAGR

10 Years:: 45%
5 Years:: 92%
3 Years:: 53%
1 Year:: 57%

RETURN ON EQUITY

10 Years:: -12%
5 Years:: -10%
3 Years:: -7%
Last Year:: 38%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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
Minority Interest	0	0	0	0	0	0	0	-0	-0	-1
	84	75	64	43	46	50	30	67	90	140
	31	30	34	20	14	23	18	11	28	40
Trade Payables	13	11	6	0	1	1	2	0	16	20
	15	5	4	8	6	5	15	8	8	2
Total Liabilities	156	133	120	84	79	92	78	102	159	219
	50	55	54	43	33	32	25	24	24	25
Capital Work in Progress	10	0	0	0	0	0	0	0	0	0
	25	10	9	2	1	8	7	14	72	53
	0	0	0	0	0	0	0	0	5	24
Cash & Bank	5	6	6	7	15	18	19	33	19	34
	67	62	51	31	30	35	25	31	39	83
Total Assets	156	133	120	84	79	92	78	102	159	219

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-4	-26	3	-25	-11	3	-5	-36	-71	15
Cash from Investing	0	30	-0	29	25	1	6	-1	-5	-9
Cash from Financing	3	-4	-2	-2	-6	-1	0	45	64	5
	-0	0	1	1	7	3	2	9	-11	11

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
29.15	29.15	29.09	29.09	28.97	28.97	28.90	28.85	28.73
0.00	0.49	1.16	0.07	0.52	0.54	0.07	0.30	2.48
0.00	0.00	0.73	1.10	1.11	0.39	0.04	0.02	0.05
0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06
70.79	70.30	68.96	69.68	69.34	70.04	70.93	70.77	68.68

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Copy of Newspaper Publication

2026-09-09 - Kernex Microsystems (India) Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-08

Record Date

2026-09-08 - Kernex Microsystems (India) Limited has informed the Exchange that Record date for the purpose of Meeting is 23-Sep-2026.

2026-09-08

Shareholders meeting

2026-09-08 - Kernex Microsystems (India) Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026

2026-09-08

Copy of Newspaper Publication

2026-09-08 - Kernex Microsystems (India) Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-05

Appointment

2026-09-05 - Kernex Microsystems (India) Limited has informed the Exchange regarding Appointment of Mrs Renuka Rani C as Non- Executive Independent Director of the company w.e.f. September 06, 2026.

2026-09-05

Appointment

2026-09-05 - Kernex Microsystems (India) Limited has informed the Exchange regarding Appointment of Mr P Dnakara Rao as Non- Executive Independent Director of the company w.e.f. September 30, 2026.

2026-09-05

Retirement

2026-09-05 - Kernex Microsystems (India) Limited has informed the Exchange about Retirement

2026-09-05

Appointment

2026-09-05 - Kernex Microsystems (India) Limited has informed the Exchange regarding Appointment of Mr A Seshagiri Rao as Non- Executive Independent Director of the company w.e.f. September 06, 2026.

2026-09-04

General Updates

2026-09-04 - Kernex Microsystems (India) Limited has informed the Exchange about General Updates

News

Recent coverage and analyst commentary for KERNEX

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Kernex Microsystems (India) Ltd.

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Free 5nance Account

Name

SYRMA

1588.65

83.22

30634.01

0.09

105.69

111.72

1588.62

68.29

17.70

10.17

KAYNES

3500.00

67.87

23462.13

0.00

56.43

-24.37

946.02

40.47

13.38

15.60

AVALON

2265.95

113.44

15155.19

0.00

34.87

145.31

484.41

49.83

20.34

11.96

UTLSOLAR

446.70

46.58

13709.30

0.00

577.94

—

13456.93

—

36.46

18.94

CYIENTDLM

904.15

87.42

7177.45

0.00

16.29

118.21

373.80

34.25

10.41

9.93

VIKRAMSOLR

166.80

16.94

6044.07

0.00

19.78

-85.17

1563.09

37.89

34.07

8.06

SAATVIKGL

396.30

20.30

5037.17

0.00

5.36

-95.49

511.01

-44.20

55.18

6.62

WEBELSOLAR

75.79

10.86

3290.52

0.33

77.79

—

372.60

115.39

63.74

33.70

KERNEX

1734.35

15.28

2914.34

0.00

109.85

1382.00

503.58

800.38

23.69

32.33

MODINSULAT

449.50

22.51

2119.12

0.00

29.60

94.43

188.30

33.19

10.53

16.89

INA

93.04

10.24

2051.08

0.00

380.25

796.94

7406.98

1766.82

34.98

9.74

IKIO

224.45

37.30

1734.57

0.00

11.05

364.51

169.29

40.91

10.02

12.97

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

255

504

149

356

Operating Profit

-0

-3

-4

-12

105

148

OPM %

-52.08%

-241.84%

-54.15%

-138.72%

16.95%

24.87%

23.31%

20.61%

22.49%

30.28%

23.14%

41.29%

29.32%

Interest

Depreciation

Profit before Tax

-1

-4

-9

-13

148

Tax %

-9.30%

-10.46%

-0.59%

4.88%

-4.08%

-0.29%

-0.85%

-114.01%

22.41%

28.35%

3.35%

25.91%

25.85%

Net Profit

110

-0.66

-2.78

-5.44

-7.53

2.16

4.09

4.29

19.44

4.45

3.87

3.61

40.69

65.37

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

190

878

149

594

Operating Profit

-9

-21

-12

-13

-7

-9

-17

-23

284

OPM %

-73.50%

-170.82%

-87.22%

-158.11%

-49.29%

20.89%

-141.83%

-416.29%

-116.71%

21.50%

32.33%

-4

-3

Interest

Depreciation

Profit before Tax

-16

-2

-15

-22

-17

-20

-27

256

Tax %

2.01%

-115.04%

3.69%

1.14%

-1.00%

2.54%

-2.08%

-2.44%

0.32%

-53.97%

25.41%

Net Profit

-16

-4

-15

-21

-17

-20

-27

191

EPS

-12.75

-3.24

-11.77

-17.06

2.74

1.62

-13.76

-14.64

-15.76

29.98

—

Dividend Payout %

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Minority Interest

-0

-1

140

Trade Payables

Total Liabilities

156

133

120

102

159

219

Capital Work in Progress

Cash & Bank

Total Assets

156

133

120

102

159

219

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-4

-26

-25

-11

-5

-36

-71

Cash from Investing

-0

-1

-5

-9

Cash from Financing

-4

-2

-6

-1

-0

-11

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

29.15

29.09

28.97

28.90

28.85

28.73

0.00

0.49

1.16

0.07

0.52

0.54

0.07

0.30

2.48

0.00

0.73

1.10

1.11

0.39

0.04

0.02

0.05

0.06

70.79

70.30

68.96

69.68

69.34

70.04

70.93

70.77

68.68

Kernex Microsystems (India) Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Kernex Microsystems (India) Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI