Kernex Microsystems India Ltd. · NSE:KERNEX
Kernex Microsystems India — Q1 FY2026-27 Earnings Presentation
20 slides from Kernex Microsystems India's earnings presentation, Sep 4, 2026
Slide 1: Submission of Investor Presentation to BSE and NSE
Date: 4th September 2026 To To The Listing / Compliance Department The Listing / Compliance Department Bombay Stock Exchange Limited National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers Plot No.C/1, G Block, Exchange Plaza Dalal Street Bandra – Kurla Complex, Bandra (E) Mumbai – 400 001 Mu
Slide 2: Q1 FY 2026-27 Performance Overview: Operational Velocity and Long-Term Horizon
Q1 FY 2026-27 Performance Overview: Operational Velocity and Long-Term Horizon
Slide 3: Kernex — Company Overview / Resources
Kernex — Company Overview / Resources 30+ years in Railway Safety Systems · NSE & BSE Listed · Hyderabad, India TRACK RECORD PUBLIC MARKETS CAMPUS MANPOWER 30+ Years NSE & BSE 10 Acres 740+ Railway safety systems design & development Listed on both exchanges since 2005 265,000 sq ft infrastructure ·
Slide 4: Certifications & Operating Credentials
Certifications & Operating Credentials Approvals and Operating milestones underpinning the Company’s Kavach Delivery Capability INDUSTRY FIRST INDUSTRY FIRST First Kavach OEM interfaced with four Electronic Interlocking systems First OEM to operate Vande Bharat commercially with Kavach Kavach must i
Slide 5: Financial Performance
Financial Performance Standalone · ₹ in Crores unless stated Q1 FY26-27 MOMENTUM * REVENUE EBITDA (MARGIN) PROFIT BEFORE TAX PAT (MARGIN) EPS ₹502.03 Cr ₹163.03 Cr ₹147.86 Cr ₹109.57 Cr ₹65.21 Strong operational execution and Single Q1outperforms the entire previous financial year scaling efficienci
Slide 6: Quarterly Financial Highlights — Standalone
Quarterly Financial Highlights — Standalone ₹ in Crores unless stated · STANDALONE 550 500 Q1 FY26-27 450 502 400 FY 25-26 426 350 300 250 200 150 Q1 FY26-27 Q1 FY25-26 FY 25-26 Q1 FY26-27 100 163 53 143 148 Q1 FY26-27 Q1 FY25-26 Q1 FY25-26 FY 25-26 109 Q1 FY25-26 110 50 13 FY 25-26 10 7 80 0 Revenu
Slide 7: Quarterly Operating Trend — Standalone
Quarterly Operating Trend — Standalone ₹ in Crores unless stated · Q1 FY 2024-25 through Q1 FY 2026-27 Net Revenue & EBITDA by Quarter (₹ Cr) 550 502 500 450 400 350 300 255 250 200 163 150 102 83 100 72 41 37 53 45 50 29 18 26 5 11 9 13 11 0 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q
Slide 8: Standalone Financial Snapshot — 4-Year Trend
Standalone Financial Snapshot — 4-Year Trend ₹ in Crores unless stated · FY 20 22-23 through Q1 FY 20 26-27 Revenue, EBITDA & PAT Trend (₹ Cr) 550 502 500 450 426 400 350 300 250 190 200 163 143 150 110 80 100 51 43 50 19 2 0 -15 -20 -15 -20 -50 FY 22-23 FY 23-24 FY 24-25 FY 25-26 Q1 FY26-27 Revenue
Slide 9: Quarterly Operating Trend — Consolidated
Quarterly Operating Trend — Consolidated ₹ in Crores unless stated · Q1 FY 2024-25 through Q1 FY 2026-27 Net Revenue & EBITDA by Quarter (₹ Cr) 550 504 500 450 400 350 300 255 250 200 163 150 106 83 100 73 56 47 41 37 50 29 18 17 5 11 9 13 15 0 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26
Slide 10: Quarterly Financial Highlights — Consolidated
Quarterly Financial Highlights — Consolidated ₹ in Crores unless stated CONSOLIDATED 550 500 Q1 FY26-27 504 450 400 FY 25-26 430 350 300 250 200 150 Q1 FY26-27 FY 25-26 Q1 FY26-27 151 163 Q1 FY25-26 148 100 FY 25-26 Q1 FY26-27 56 117 Q1 FY25-26 Q1 FY25-26 Q1 FY25-26 FY 25-26 110 50 13 10 7 88 0 Reve
Slide 11: Order Book Position
Order Book Position | All values inclusive of GST | KMIL share of contract value Total Orders Received Executed by KMIL Balance Order Book ₹5,174 Cr − ₹1,687 Cr =− ₹3,487 Cr 33% of total value delivered 67% remaining to execute Split by nature of work (₹ Cr, incl. GST) Contracts with the highest exe
Slide 12: Working Capital — Scaling with the Order Book
Working Capital — Scaling with the Order Book Fund and Non-Fund Based Limits sanctioned by the Banking Consortium | ₹ Crore ₹655 Cr 25.8x ₹281 Cr ₹664 Cr Total limits Growth since FY23 Undrawn Headroom Assessed requirement ₹490 Cr sanctioned + ₹165 Cr in process From ₹19 Cr to ₹490 Cr sanctioned Ava
Slide 13: Kavach Market Opportunity & Status - up to FY29
Kavach Market Opportunity & Status- up to FY 29 Figures in Route KM (RKM) TOTAL ADDRESSABLE 81,000 RKM 3,300 RKM Indian Railways network Dedicated Freight Corridor ORDERS AWARDED (TILL COMMISSIONE D TILL FY26 NEW E PC PIPE LINE RESIDUAL OPPORTUNITY 41,000 RKM FY26) 24,000 RKM 2,569 RKM 16,000 RKM 10
Slide 14: Expanding Fleet Baseline and Regulatory Tailwinds
Expanding Fleet Baseline: Indian Railways adds ~approx 5 new locomotives daily (~1,900+ per annum), continuously growing the national rolling stock asset base. Mandatory Regulatory Tailwinds: Per Mandate 100% of newly manufactured rolling stock must be eventually outfitted with (ATP/ KAVACH) modul
Slide 15: Future Kavach Projections — FY27 to FY29
Future Kavach Projections — FY27 to FY29 FY27: order book in hand & FY27–FY29: Kavach pipeline | All values inclusive of GST ₹3,487 Cr ₹5,420 Cr ₹8,907 Cr* Order book in hand Potential Kavach projects intake Total executable base (Excluding AMC Revenue) Secures the FY27 execution base In hand plus e
Slide 16: Business Diversification Roadmap
Business Diversification Roadmap Transformation from a railway-safety product company to a diversified rail-technology and critical-infrastructure enterprise, with no single vertical dependency. Four initial growth domains Train Control & Safety AI, BIM & Digital Twin 1 2 ABS, CTC & Moving Block • C
Slide 17: Five New Sub-Sector Business Lines & LxCS Opportunity
Five New Sub-Sector Business Lines & LxCS Opportunity Detail behind the diversification domains — the addressable opportunity and target market for each of the five new lines. SUB-SECTOR BUSINESS OPPORTUNITY TARGET SECTORS & CUSTOMERS 5YRS REVENUE POTENTIAL (in CRS) Digitalisation of large industria
Slide 18: Entry Strategy & Value-Chain Progression
Entry Strategy & Value-Chain Progression Common thread: leverage Kavach, signalling and railway electronics with AI, IoT and system integration; enter through partnerships; build recurring AMC/O&M and platform revenue. SUB-SECTOR ENTRY STRATEGY PROGRESSION Leverage Company expertise in railway safet
Slide 19: Disclaimer
Disclaimer The future-outlook statements given above are forward looking and are based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable and must not be distributed, published or reproduced. Forward-loo
Slide 20: THANK YOU
THANK YOU Kernex Microsystems (India) Limited · Delivering Railway Safety
Kernex Microsystems (India) — Q1 FY2026-27 Earnings Presentation on 6ix