Kernex Microsystems

₹480 6.4 | 1.4%

WEBSITE BSE:532686 NSE : KERNEX MICRO 18 May, 12:50

Market Cap ₹804 Cr.

Stock P/E -44.2

P/B 6.2

Current Price ₹480

Book Value ₹ 77

Face Value 10

52W High ₹718

Dividend Yield 0%

52W Low ₹ 243.9

Edit Ratio

Kernex Microsystems Research see more...

Overview Inc. Year: 1991Industry: Electronics - Components

Kernex Microsystems (India) Ltd is an primarily India-based organisation, that is engaged within the manufacture and sale of safety structures and software offerings for railways. The Company's principal activities consist of operational upkeep of anti-collision devices for railways; supply of Train Collision Avoidance Systems (TCAS) devices, and set up of Lxcs Gates for Egyptian National Railways. The Company offers various value-added embedded R&D offerings and electronics manufacturing offerings (EMS/CEM) to its customers. The Company gives quite a number of merchandise, including LxGuard, TrainSHIELD, SAFELx, Sentinex, Casry, KMDAX, Automatic Timing (Recording) Device for Railway Wagons (ATRW), KTPIS, and Battery Charger Cum Power Supply (BPCS2440). The Company also gives diverse services, which include turnkey product improvement, digital product design, embedded software program design, electronic manufacturing, Environmental Stress Screening (ESS) testing and training.

Kernex Microsystems Share Price

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Peer Comparison

Kernex Microsystems Quarterly Results

#(Fig in Cr.)	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Net Sales	2	3	1	1	1	0	2	1	1	1
Other Income	0	0	1	0	0	0	2	-2	0	0
Total Income	2	3	2	1	1	1	4	-1	1	2
Total Expenditure	4	5	3	4	3	4	6	7	1	5
Operating Profit	-2	-1	-1	-3	-2	-4	-2	-8	-0	-3
Interest	1	1	1	1	1	1	1	-1	0	0
Depreciation	0	0	0	0	0	0	0	1	1	1
Exceptional Income / Expenses	0	0	0	-4	0	0	0	0	0	0
Profit Before Tax	-3	-3	-2	-9	-3	-5	-3	-8	-1	-4
Provision for Tax	0	0	0	0	0	0	0	0	0	0
Profit After Tax	-3	-3	-2	-9	-3	-5	-4	-8	-1	-5
Adjustments	0	-0	0	-0	-0	0	0	0	0	0
Profit After Adjustments	-3	-3	-2	-9	-3	-5	-4	-8	-1	-4
Adjusted Earnings Per Share	-2.7	-2.4	-1.6	-7	-2.4	-3.3	-2.6	-5.3	-0.6	-2.9

Kernex Microsystems Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	28	30	20	12	12	13	8	15	18	7	4	5
Other Income	3	3	2	2	2	1	21	18	1	2	2	0
Total Income	31	33	21	14	14	14	29	33	20	8	6	6
Total Expenditure	23	28	26	21	33	25	21	22	14	16	21	19
Operating Profit	8	5	-5	-7	-19	-11	8	11	5	-8	-15	-13
Interest	4	3	3	6	4	2	2	6	1	3	2	0
Depreciation	3	4	4	3	3	2	2	2	2	1	2	3
Exceptional Income / Expenses	0	0	0	0	24	0	-25	0	0	-4	0	0
Profit Before Tax	1	-3	-13	-16	-2	-15	-22	3	2	-17	-20	-16
Provision for Tax	1	-0	-0	-0	2	-1	-0	-0	0	0	0	0
Profit After Tax	0	-2	-13	-16	-4	-15	-21	3	2	-17	-20	-18
Adjustments	0	0	0	0	0	0	0	-0	0	0	0	0
Profit After Adjustments	0	-2	-13	-16	-4	-15	-21	3	2	-17	-20	-17
Adjusted Earnings Per Share	0.3	-1.7	-10.1	-12.7	-3.2	-11.8	-17.1	2.7	1.6	-13.8	-12.8	-11.4

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-43%	-36%	-21%	-18%
Operating Profit CAGR	0%	NAN%	0%	NAN%
PAT CAGR	0%	NAN%	0%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	79%	117%	83%	24%
ROE Average	-32%	-20%	-18%	-12%
ROCE Average	-22%	-12%	-9%	-6%

Kernex Microsystems Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	128	127	113	97	88	76	56	59	63	48	82
Minority's Interest	0	0	0	0	0	0	0	0	0	0	-0
Borrowings	0	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	-0	-0	3	7	9	0	3	3	1	2
Total Current Liabilities	32	47	48	56	39	35	28	17	26	28	18
Total Liabilities	161	174	161	156	133	120	84	79	92	78	102
Fixed Assets	60	58	53	50	55	54	43	33	32	25	24
Other Non-Current Assets	20	16	17	17	12	8	8	11	11	3	5
Total Current Assets	81	100	92	89	66	58	33	35	50	49	73
Total Assets	161	174	161	156	133	120	84	79	92	78	102

Kernex Microsystems Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	12	8	13	6	5	6	6	7	2	5	-13
Cash Flow from Operating Activities	4	-1	-6	-4	-26	3	-25	-11	3	-5	-32
Cash Flow from Investing Activities	-0	-1	1	0	30	-0	29	25	1	6	0
Cash Flow from Financing Activities	-7	7	-2	3	-4	-2	-2	-6	-1	0	45
Net Cash Inflow / Outflow	-4	5	-8	-0	0	1	1	7	3	2	13
Closing Cash & Cash Equivalent	8	13	6	5	6	6	7	15	5	7	0

Kernex Microsystems Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	0.29	-1.69	-10.11	-12.75	-3.24	-11.77	-17.06	2.74	1.62	-13.77	-12.82
CEPS(Rs)	2.5	1.54	-6.78	-10.18	-1.19	-9.98	-15.38	4.13	2.86	-12.62	-11.41
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	102.63	101.64	90.61	77.27	70.13	60.94	44.49	47.18	50.12	34.17	53.14
Core EBITDA Margin(%)	18.08	5.74	-35.3	-72.04	-170.82	-87.22	-158.11	-49.29	20.89	-141.83	-416.29
EBIT Margin(%)	18.74	1.96	-48.85	-81.33	14.74	-98.7	-237.03	61.97	19.26	-203.95	-426.28
Pre Tax Margin(%)	5.16	-8.4	-66.26	-133.91	-15.31	-114.84	-265.18	22.79	11.31	-253.48	-483.81
PAT Margin (%)	1.27	-7.06	-64.78	-131.23	-32.92	-110.6	-262.16	23.02	11.03	-258.76	-495.6
Cash Profit Margin (%)	11.02	6.45	-43.43	-104.79	-12.13	-93.71	-236.31	34.65	19.52	-237.16	-436.51
ROA(%)	0.22	-1.26	-7.55	-10.05	-2.8	-11.63	-20.93	4.2	2.36	-20.27	-22.35
ROE(%)	0.28	-1.65	-10.52	-15.19	-4.4	-17.96	-32.37	5.98	3.32	-32.67	-32.07
ROCE(%)	3.65	0.39	-6.47	-7.28	1.5	-12.27	-21.67	12.65	4.63	-18.19	-21.64
Receivable days	576.09	623.09	1005.37	1567.97	1386.28	1068.1	1151.94	342.27	247.51	626.43	903.45
Inventory Days	208.62	227.46	444.67	764.73	519.69	257.62	247.95	46.32	95.9	425.21	875.23
Payable days	708.35	2979.52	0	957.51	355.28	1695.71	257.23	14.14	75.14	145.7	135.72
PER(x)	105.97	0	0	0	0	0	0	4.79	41.08	0	0
Price/Book(x)	0.3	0.34	0.37	0.41	0.59	0.61	0.52	0.28	1.32	4.39	4.63
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	1.63	1.91	3.26	5.71	5.71	4.97	5.14	0.82	4.67	27.96	88.84
EV/Core EBITDA(x)	5.72	12.36	-11.86	-10.19	-3.66	-6.07	5.32	1.11	16.82	-24.14	-24.2
Net Sales Growth(%)	-35.62	5.66	-34.58	-39.02	3.37	8.16	-38.85	82.9	23.13	-63.7	-39.27
EBIT Growth(%)	-48.04	-89	-1733.88	-3.59	118.37	-824.07	-46.85	147.82	-61.72	-484.34	-26.94
PAT Growth(%)	-91.28	-684.82	-499.87	-26.04	74.58	-263.35	-44.95	116.06	-41.01	-951.85	-16.32
EPS Growth(%)	-91.28	-684.81	-499.86	-26.04	74.58	-263.34	-44.95	116.04	-40.96	-951.87	6.91
Debt/Equity(x)	0.13	0.21	0.25	0.35	0.28	0.34	0.37	0.18	0.32	0.42	0.13
Current Ratio(x)	2.5	2.13	1.9	1.59	1.69	1.67	1.18	2.1	1.9	1.74	4.16
Quick Ratio(x)	2.02	1.67	1.36	1.15	1.43	1.42	1.09	2.02	1.58	1.49	3.46
Interest Cover(x)	1.38	0.19	-2.81	-1.55	0.49	-6.12	-8.42	1.58	2.42	-4.12	-7.41
Total Debt/Mcap(x)	0.43	0.61	0.67	0.84	0.48	0.55	0.71	0.65	0.24	0.1	0.03

Kernex Microsystems Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	31.04	34.52	31.27	31.27	31.27	31.6	31.6	31.6	29.15	29.15
FII	0	0	0	0	0	0	0	0.03	0.01	0.01
DII	0	0	0	0.08	0.08	0.07	0.07	0.07	0.07	0.07
Public	68.96	65.48	68.73	68.65	68.65	68.33	68.33	68.31	70.78	70.77
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	0.39	0.43	0.43	0.43	0.43	0.49	0.49	0.49	0.49	0.49
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	0.86	0.82	0.95	0.95	0.95	1.06	1.06	1.06	1.19	1.19
Others	0	0	0	0	0	0	0	0	0	0
Total	1.25	1.25	1.38	1.38	1.38	1.55	1.55	1.55	1.68	1.68

Pros

Debtor days have improved from 145.7 to 135.72days.
Company is almost debt free.

Cons

Promoter holding is low: 29.15%.
Company has a low return on equity of -20% over the last 3 years.
Stock is trading at 6.2 times its book value.
Earnings include an other income of Rs. 2 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.