On 6 Nov 2026, Kernex Microsystems (India) was priced at ₹1,698.50, or 15.0× trailing earnings, against an industry P/E of 27.7×, and the shares are 34% below their 52-week high. Its ROCE of 47% is the highest among the 7 largest Software (Application) peers. Debt is 0.66× equity. It is a small-cap company with a market cap of ₹2,854 Cr, ranked 18th of 74 Software (Application) companies by market cap; the shares rose 38% over the past year.
- ₹1,700.00
- ₹1,729.90
- ₹1,675.30
- ₹1,750.30
- 95.2K
Health check
- ReturnsAhead
+37.7% over a year, better than 5 of 7 peers.
- Price tagCheaper
P/E 15.0 vs industry 27.7.
- GrowthStrong
Sales +373.8% a year over 3 years.
- ProfitabilityStrong
ROCE 46.8% vs peer median 12.6%.
- Balance sheetStretched
Debt 0.66× equity, interest covered 15.9×, Piotroski 3 of 9.
- Red flags1 to check
34% below its 52-week high.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹2,854 Cr
- Small cap
- P/E
- 15.0
- Industry 27.7
- Price to book
- 11.48
- Peers 8.24
- Dividend yield
- 0.00%
- ROE
- 43.5%
- Peers 15.3%
- ROCE
- 46.8%
- Peers 12.6%
- Debt to equity
- 0.66
- Debt ₹162 Cr
- EPS (TTM)
- ₹113.53
- Face value ₹10
- OPM (TTM)
- 34.1%
- Net margin 21.7%
- Sales growth
- +800.4%
- Latest quarter vs a year ago
- Profit growth
- +1371.5%
- Latest quarter vs a year ago
- Price to sales
- 3.25
- EV/EBITDA 10.0
Strengths and risks
Strengths
- Return on equity of 43.5%.
- Return on capital employed of 46.8%.
- Quarterly profit up 1371.5% on a year ago.
- Quarterly sales up 800.4% on a year ago.
- Net margin of 21.7%.
Risks to check
- 34% below its 52-week high.
About Kernex Microsystems (India)
Kernex Microsystems (India) Limited, together with its subsidiaries, engages in the manufacture and sale of safety systems and software services for railways in India, Egypt, the United States, and internationally. The company offers safety products for the railroad industry, such as LxGuard, a level crossing protection system; TrainSHIELD, a train collision avoidance system; SAFELx, a train actuated warning device; SENTINEX, a level crossing warning…
- Headquarters
- Hyderabad
- Employees
- 609
- Sector
- Technology
- ISIN
- INE202H01019
- Website
- kernex.in
Price range
- Avg volume (3M)
- 2.9 L
- 1-year return
- plus 37.7%
- From 52-week high
- minus 34.2%
Peers · Software - Application
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TATAELXSITata Elxsi | 3,855.00 | minus 1.66% | 24,019 | 35.8 | 8.24 | 26.2% | 23.9% | 22.7% | 6.1% | −5.9% | 1.95% | minus 27.2% |
| URBANCOUrban Company | 158.12 | minus 0.25% | 23,446 | – | 12.14 | −7.2% | −21.5% | −22.9% | 34.7% | – | 0.00% | plus 6.5% |
| KFINTECHKfin Technologies | 915.80 | minus 1.14% | 15,835 | 45.6 | 9.75 | 18.9% | 22.6% | 38.1% | 22.5% | 20.6% | 1.31% | minus 13.4% |
| KPITTECHKPIT Technologies | 540.45 | plus 0.12% | 14,713 | 27.7 | 3.99 | 21.3% | 15.3% | 26.7% | 24.2% | 18.7% | 1.39% | minus 53.3% |
| BBOXBlack Box | 810.95 | minus 5.36% | 14,402 | 62.2 | 11.18 | 12.6% | 21.3% | 9.0% | 0.2% | 109.3% | 0.12% | plus 56.1% |
| AMAGIAmagi Media Labs | 568.25 | minus 0.04% | 12,293 | 119.9 | 6.74 | 5.0% | 6.3% | 3.9% | 30.3% | – | 0.00% | plus 63.2% |
| BLACKBUCKBLACKBUCK | 557.55 | plus 3.06% | 10,161 | 56.4 | 6.71 | 11.7% | 12.8% | 23.9% | 53.9% | – | 0.00% | minus 17.3% |
| KERNEXKernex Microsystems (India) | 1,698.50 | minus 2.96% | 2,854 | 15.0 | 11.48 | 46.8% | 43.5% | 31.9% | 373.8% | – | 0.00% | plus 37.7% |
| Median of 7 peers | – | −0.25% | 14,713 | 51.0 | 8.24 | 12.6% | 15.3% | 22.7% | 24.2% | 19.7% | 0.12% | −13.4% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 55.9 | 47.1 | 72.6 | 255 | 504 | |
| 43.3 | 32.8 | 55.8 | 149 | 341 | |
| 12.6 | 14.3 | 16.8 | 105 | 163 | |
| 22.5% | 30.3% | 23.1% | 41.3% | 32.3% | |
| 0.4 | 0.5 | 0.5 | 0.9 | 0.5 | |
| 2.6 | 4.7 | 9.1 | 11.8 | 13.2 | |
| 0.8 | 1 | 1.9 | 2.1 | 1.9 | |
| 9.6 | 9.1 | 6.3 | 92.1 | 148 | |
| 22.4% | 28.4% | 3.3% | 25.9% | 25.8% | |
| 7.5 | 6.6 | 6 | 68.3 | 110 | |
| 4.44 | 3.86 | 3.61 | 40.69 | 65.37 |
Profit & loss
- Sales CAGR 3Y
- +373.8%
- ROE
- 43.5%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 4 | 19.6 | 190 | 430 | |
| – | +385.1% | +868.3% | +126.7% | |
| 19.5 | 37.1 | 149 | 281 | |
| −15.5 | −17.6 | 40.8 | 149 | |
| −383.7% | −89.6% | 21.5% | 34.6% | |
| 0.4 | −0.4 | −2.5 | −18.1 | |
| 2 | 2 | 2.9 | 7.8 | |
| 2.4 | 2.3 | 2.8 | 5.8 | |
| – | −4.4 | −0 | – | |
| −19.5 | −26.8 | 32.5 | 117 | |
| −2.4% | 0.3% | −54.0% | 24.6% | |
| −19.8 | −26.4 | 50.2 | 88.3 | |
| -14.64 | -16.61 | 29.95 | 52.71 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 15.5 | 16.8 | 16.8 | 16.8 | |
| 66.7 | 89.9 | 141 | 231 | |
| 10.7 | 28 | 40.3 | 162 | |
| 8.8 | 24.1 | 38.2 | 509 | |
| 102 | 159 | 236 | 919 | |
| 23.7 | 23.7 | 25 | 27.2 | |
| 2.1 | 2.5 | 2.2 | 16.5 | |
| 15.3 | 3.9 | 15 | 1.5 | |
| 60.4 | 129 | 194 | 874 | |
| 102 | 159 | 236 | 919 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −36 | −71.1 | 14.5 | −99.7 | |
| −0.6 | −4.6 | −8.8 | −7.6 | |
| 45.1 | 64.3 | 5.4 | 93.7 | |
| 8.5 | −11.4 | 11.1 | −13.6 | |
| −0.6 | −4.8 | −8.8 | −14.6 | |
| −36.6 | −75.9 | 5.7 | −114 |
Shareholding pattern
- Promoters28.73%
- Public71.27%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 28.73% | 71.27% | 0.00 | |
| 30 Jun 2026 | 28.73% | 71.27% | minus 0.12 | |
| 31 Mar 2026 | 28.85% | 71.15% | minus 0.05 | |
| 31 Dec 2025 | 28.90% | 71.10% | minus 0.07 | |
| 30 Sep 2025 | 28.97% | 71.03% | – |
Major shareholders
Filings & events
News
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