KERNEX
Kernex Microsystems (India) share price & financials
- Price
- ₹2,039.3
- Market cap
- ₹2.9k Cr
- Sector
- Services
What Kernex Microsystems (India) Limited does
Kernex Microsystems designs, manufactures and executes turnkey railway-safety systems, most notably Kavach, India's indigenous Train Collision Avoidance System (TCAS) that evolved over a 14-year journey from earlier Anti-Collision Device technology. It is one of only three OEMs qualified by RDSO and Indian Railways to supply Kavach, manufactures the system along with automatic level-crossing gates at its Hyderabad facility, and also undertakes supply, installation, testing and commissioning of these systems across multiple Indian Railway zones. The company additionally works in telecom and defence electronics and provides embedded systems/IoT product design and development services. Incorporated in 1991 and listed on the NSE and BSE since 2005, it operates from a 10-acre campus near Hyderabad's Shamshabad airport equipped with in-house environmental, verification-and-validation and factory-acceptance test laboratories.
Segments
- Railway Safety Systems
- Telecom & Defence
- Embedded & IoT Products
- Workforce
- 350 employees across R&D, hardware/software/firmware design, engineering, production, QC & testing, and project execution/O&M
- Kavach production capacity
- 450 units/month
- Level-crossing gate production capacity
- 10 units/month, scalable up to 25/month
- Campus size
- 10-acre campus with ~265,000 sq ft of built-up infrastructure in Hyderabad, 7 km from Shamshabad Airport
- In-house test infrastructure
- Environmental test labs (burn-in chambers, thermal cycling, vibration/bump testing), dedicated Verification & Validation labs, Factory Acceptance Testing units, and a Loco Brake Interface test lab
- OEM qualification
- One of only 3 OEMs qualified by RDSO/Indian Railways in the last 8 years to supply Kavach
Quarterly results
Q1 FY27: revenue up 800.0%, net profit up 1471.4% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 41 | 37 | 83 | 56 | 47 +15% | 73 +97% | 255 +207% | 504 +800% |
| EBITDA | 10 | 9 | 17 | 13 | 14 +40% | 17 +89% | 105 +518% | 163 +1154% |
| Net profit | 7 | 7 | 33 | 7 | 7 +0% | 6 −14% | 68 +106% | 110 +1471% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +54.9% 1Y
1Y: ₹1,118.3 on 10 Sept 2025 → ₹1,732.1. High ₹2,549.2 (5 Aug 2026), low ₹857 (30 Mar 2026).
Financials, as filed
Revenue grew 356.9% a year over 3 years, FY23 to FY26. Operating margin widened to 34.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹5 Cr | ₹19 Cr | ₹190 Cr | ₹431 Cr |
| Operating profit | ₹-18 Cr | ₹-19 Cr | ₹41 Cr | ₹149 Cr |
| Operating margin | -387.4% | -100.0% | 21.6% | 34.6% |
| Interest | ₹1 Cr | ₹2 Cr | ₹7 Cr | ₹29 Cr |
| Depreciation | ₹2 Cr | ₹6 Cr | ₹4 Cr | ₹6 Cr |
| Net profit | ₹-20 Cr | ₹-28 Cr | ₹51 Cr | ₹88 Cr |
| Net margin | -434.3% | -147.4% | 26.8% | 20.4% |
| Cash from operations | ₹-36 Cr | ₹-71 Cr | ₹15 Cr | ₹-100 Cr |
| Free cash flow | ₹-37 Cr | ₹-76 Cr | ₹6 Cr | ₹-107 Cr |
| ROCE | -23.0% | -21.0% | 24.0% | 48.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹12 Cr | ₹12 Cr | ₹15 Cr | ₹17 Cr | ₹17 Cr | ₹17 Cr |
| Reserves | ₹50 Cr | ₹36 Cr | ₹67 Cr | ₹90 Cr | ₹157 Cr | ₹231 Cr |
| Borrowings | ₹20 Cr | ₹18 Cr | ₹11 Cr | ₹28 Cr | ₹89 Cr | ₹162 Cr |
| Other liabilities | ₹12 Cr | ₹14 Cr | ₹11 Cr | ₹27 Cr | ₹199 Cr | ₹509 Cr |
| Total liabilities | ₹95 Cr | ₹80 Cr | ₹104 Cr | ₹161 Cr | ₹461 Cr | ₹919 Cr |
| Fixed assets | ₹32 Cr | ₹25 Cr | ₹24 Cr | ₹24 Cr | ₹34 Cr | ₹34 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹3 Cr | ₹2 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹63 Cr | ₹55 Cr | ₹78 Cr | ₹135 Cr | ₹427 Cr | ₹885 Cr |
| Total assets | ₹95 Cr | ₹80 Cr | ₹104 Cr | ₹161 Cr | ₹461 Cr | ₹919 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs added +1.96 pp while DIIs trimmed −1.06 pp.
- Promoters
- 28.7%
- FIIs
- 2.5%
- DIIs
- 0.1%
- Government
- 0.1%
- Public
- 68.7%
Since Jun 2025
- FIIs +1.96 pp
- DIIs −1.06 pp
- Public −0.65 pp
How it drifted, 12 quarters
Over this window promoters fell from 31.6% to 28.7% — −2.9 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 31.6%, FIIs 0.0%, Government 0.1%, Public 68.3%.Dec '23: Promoters 29.1%, FIIs 0.0%, DIIs 0.0%, Government 0.1%, Public 70.8%.Mar '24: Promoters 29.1%, FIIs 0.0%, DIIs 0.0%, Government 0.1%, Public 70.8%.Jun '24: Promoters 29.1%, Government 0.1%, Public 70.8%.Sep '24: Promoters 29.1%, FIIs 0.5%, DIIs 0.0%, Government 0.1%, Public 70.3%.Dec '24: Promoters 29.1%, FIIs 1.2%, DIIs 0.7%, Government 0.1%, Public 69.0%.Mar '25: Promoters 29.1%, FIIs 0.1%, DIIs 1.1%, Government 0.1%, Public 69.7%.Jun '25: Promoters 29.0%, FIIs 0.5%, DIIs 1.1%, Government 0.1%, Public 69.3%.Sep '25: Promoters 29.0%, FIIs 0.5%, DIIs 0.4%, Government 0.1%, Public 70.0%.Dec '25: Promoters 28.9%, FIIs 0.1%, DIIs 0.1%, Government 0.1%, Public 70.9%.Mar '26: Promoters 28.9%, FIIs 0.3%, DIIs 0.0%, Government 0.1%, Public 70.8%.Jun '26: Promoters 28.7%, FIIs 2.5%, DIIs 0.1%, Government 0.1%, Public 68.7%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Raju Madhav Mantena newly disclosed 0.66% held
The same filing shows 2 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Kernex Microsystems (India) Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Anji Raju Manthena | 14.80% | unchanged |
| Sitarama Raju Manthena | 4.24% | unchanged |
| Sreelakshmi Manthena | 3.81% | unchanged |
| Srinivasa Raju Manthena | 3.61% | unchanged |
| Mrt Signals Limited | 2.33% | −0.25 pp |
| Janardhana Reddy Vinta | 1.95% | unchanged |
| Penang Enterprises Private Limited | 1.83% | unchanged |
| Anant Jain | 1.64% | unchanged |
| Manthena Parvathi | 1.60% | unchanged |
| Raju Madhav Mantena | 0.66% | newly disclosed |
| Raju N Mantena | 0.01% | −0.12 pp |
| Madhav Mantena | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Kernex Microsystems (India) Limited
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