Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 9 Sep - Newspaper publication about the 34th Annual General Meeting of the Company
Source: Bse
Kernex Microsystems (India) Limited (KERNEX)
Micro CapIndustrials stocks · Micro cap · NSE
Kernex Microsystems (India) Limited operates in Railway Signalling & Safety, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
₹1,737.6
-34.90 · -1.97%
Market cap ₹2,792 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result13 Aug, 12:04 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags04 Oct 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
51NeutralSMA20 -2.0% / mo · MACD +
Stock trend: 51
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
KERNEXD candles · FIT view+34.0%Latest close ₹1737.60 on 2026-10-19
Bar
-2.1%
RSI
48
MACD hist
12.64
52W pos
51%
2026-10-19O ₹1774.00H ₹1777.30L ₹1712.50C ₹1737.60Vol 1.2L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
KERNEXNifty India ManufacturingNifty 500
- KERNEX
- -18.0%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- -12.5 pp
Chart stats
19 Oct 2026- From 52W high
- -32.7%
- 52W range position
- 51%
- ATR (14)
- 4.9%
- Volume vs 20D
- 0.84x
- Avg traded value
- ₹25.1 Cr
- 20D price channel
- ₹1,600.5 - ₹1,818.7
₹2,580
₹850 - ₹2,580
₹85.5
Latest completed session
20-session average
43.2% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED69
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent100
Revenue +800.0% · PAT +1471.4% YoY
Technical
Neutral51
Price trend and sector-relative-strength timing.
Valuation
Legacy model+61.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence73
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 100/100Rev +800% YoY · PAT +1471% YoY · margin expansion · +98% QoQ · operating leverage
Filed 13 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹504 Cr | +800.0% | +97.7% |
| EBITDA | ₹163 Cr | +1153.8% | +55.2% |
| Operating margin | 32.0% | +1000 bps | -900 bps |
| PAT | ₹110 Cr | +1471.4% | +61.8% |
| PAT margin | 21.8% | +933 bps | -484 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 14.60
- P/B
- 11.23
- EV/EBITDA
- 9.65
- Market Cap
- 2792.00Cr
Profitability
- ROE
- 43.50%
- ROCE
- 47.80%
- ROA
- 20.78%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 88.00%
- EPS 5Y
- 116.00%
- Revenue 3Y
- 176.00%
- EPS 3Y
- 86.00%
Balance Sheet
- Debt/Equity
- 0.65
- Interest Coverage
- 7.67×
- Altman Z
- 4.97
- Book Value
- 148.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 5/5
- OCF
- -100.00 Cr
- EPS TTM
- 113.51
Shareholding
- Promoter Hold
- 28.73%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 47%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 504+97.6% vs prev
Net Profit
₹ CrLatest: 110+61.8% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term uptrend intact. RSI 48.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~2.1% over last month) — short-term momentum negative.
- RSI(14) at 48 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 33% off 52W high · 104% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
84
RS percentile
Stage 1 Base / Transition
1M return
+0.3%
3M return
-18.0%
6M return
+41.8%
1Y return
+39.2%
RS 1D
-1
RS 20D
-5
Sector rank
#2
Industry rank
-
Stage evidence
- Price is within 1.1% of the 30-week proxy.
- The 30-week proxy changed +5.8% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price above
Sector
leading
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 165.13-0.95%
RS vs Nifty 500165
Valuation & peers
U-Score 69 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 69 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Growth at Value
Fundamental score breakdown
U band · UNDERVALUEDValuation15/30
Growth23/25
Quality20/20
Balance Sheet5/15
Cash Flow3/10
Piotroski
6/9 (+3)
Penalties
0
Raw sum
69
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
69/100 · legacy band UNDERVALUED
Positive drivers
- Fair-value margin of safety is positive at 61.0%.
- Quality contributes 20/20 to the score.
- Growth contributes 23/25 to the score.
Main drags
- Cash flow is weaker at 3/10; verify the latest quarterly trend.
- Balance sheet is weaker at 5/15; verify the latest quarterly trend.
- Valuation is weaker at 15/30; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
14.6
PB
11.2
EV/EBITDA
9.7
ROE
43.5%
ROCE
47.8%
FCF Yield
—
Debt/Equity
0.7
MoS
+61.0%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
69
Previous: 69
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+61.0%
Previous: +61.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
69
69
69
69
69
69
69
69
69
69
69
69
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹614.81
-182.6% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹4,460.94
+61.0% MoS
PEG
0.14
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
TITAGARH
Large
TITAGARH RAIL SYSTEMS LIMITED
Railway Equipment
match 113
30
51.9
6.8%
-35%
OVERVALUED
JWL
Large
Jupiter Wagons Limited
Railway Equipment
match 109
29
48.5
6.4%
-28%
OVERVALUED
TEXRAIL
Micro
Texmaco Rail & Engineering Limited
Capital Goods
match 85
51
21.9
7.3%
+48%
FAIR VALUE
TRANSRAILL
Micro
Transrail Lighting Limited
Lighting
match 81
76
15.0
20.0%
+62%
DEEP VALUE
DHARARAIL
SME
Dhara Rail Projects Ltd.
Railway Infrastructure
match 65
71
13.2
35.7%
+46%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Kernex Microsystems (India) Limited operates in Railway Signalling & Safety, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
73Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 72nd percentile of the scored universe and 70th percentile within Industrials. Main check: cash conversion is weak at 52/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
14 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
72nd percentile
overall median 67 · Industrials: 70th pctile, median 68 · Micro: 54th pctile, median 73
Evidence depth
Financial-only
14 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
52
watch · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
98
strong · capital discipline
Results
57
watch · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸5 years of positive FCF.
- ▸ROCE is 47.8%.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸Operating cash flow is negative at ₹-100 Cr.
- ▸OPM spread across recent quarters is 20%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Kernex Microsystems (India) Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Change in Management 29 May - Mr. E. B. Rao moved from COO to President, Diversification and New Business Opportunities, effective today.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Addendum To The Boards'' Report For The Financial Year 2025-26 Which Forms An Integral Part Of The 34Th Annual Report 22 Sep - Addendum to 34th Annual Report: reappoints two independent directors, appoints Mrs. Renuka Rani C, and notes one cessation.
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.