KERNEX2024-01-012024-03-31 KERNEX2024-01-012024-03-31 KERNEX2024-01-012024-03-31in-bse-fin:OneOperatingExpenses01Member KERNEX2024-01-012024-03-31in-bse-fin:OneOperatingExpenses02Member KERNEX2024-01-012024-03-31in-bse-fin:OneOperatingExpenses03Member KERNEX2024-01-012024-03-31in-bse-fin:FourOperatingExpenses01Member KERNEX2024-01-012024-03-31in-bse-fin:FourOperatingExpenses02Member KERNEX2024-01-012024-03-31in-bse-fin:FourOperatingExpenses03Member KERNEX2024-03-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 532686 KERNEX NOTLISTED Kernex Microsystems (India) Limited Equity 2023-04-01 2024-03-31 2024-07-13 2024-07-10 INR Lakhs Yearly 08:45:00 23:35:00 2024-07-13 2024-07-13 true Cash Flow Indirect Statement on impact of audit qualification Single segment SAFETY EQUIPMENTS FOR RAILWAYS 2024-01-01 2024-03-31 Audited Standalone 89401000.00 2813000.00 92213000.00 149026000.00 0.00 -17072000.00 35142000.00 4667000.00 5339000.00 39330000.00 216432000.00 -124219000.00 0.00 -124219000.00 0.00 -6473000.00 -6473000.00 0.00 -117746000.00 0.00 0.00 0.00 0.00 -117746000.00 61000.00 -117685000.00 0.00 0.00 167594000.00 10 -7.03 -7.03 0.00 0.00 -7.03 -7.03 1. The above statement of Audited Standalone Financial Results of Kernex Micro Systems (India) Limited ( the company ) which have been prepared in accordance with the Indian Accounting Standards ( Ind AS ) prescribed udder section 133 of the companies act, 2013 ( the act ) read with relevant rules issued thereunder, other accounting generally accepted in India and guidelines issued by the Securities Exchange Board of India( SEBI ) were reviewed and recommended by the Audit Committee; are considered and approved by the Board of Directors in their meeting held on July 13, 2024. Theses results are as per Regulation 33 of SEBI( Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended. 2. The Company Operates on one reportable Segment.i.e Safety Systems for Railways and hence segment reporting as per ind AS-108 is not applicable.3. The auditors of the company qualified their report that impairment to an extent of Rs 1440.43 lakhs has not been provided in the standalone financial statements as required under IND AS36( Impairment of assets) towards (a) complete erosion of net worth of Avant-Garde Infosystems, Inc i.e .AGI ( 100% wholly owned foreign subsidiary imported in sourcing of electronic components) and thus investment made in that company of Rs 1275.97 lakhs amounts imparied fully.(b) Non provision for accumulated losses for share of TCAS JV for an amount of Rs 164.46 Lakhs.( TCAS-JV is a Joint Venture in which company has 80% share of profits/losses engaged in execution of railway projects, by way of impairment of investment of Rs 8 lakhs and Rs 156.46 lakhs from loan and advances and receivables. The company management is of opinion that the 100% subsidiary (AGI) being a cost centre provides synergy in securing procurement efficiency and therefore it's impairment cannot be assessed independent at the present. IND AS-36 stipulates that one of the criteria for assessing impairment can be determined by assessing whether the carrying amount of the net assets of the company exceed the market capitalisation. Considering this factor, the company’s market capitalisation is far higher and no impairment is required on this account. In so far as the losses in TCAS JV, the management is confident that it is temporary and the ongoing project in the JV would eventually result in net surplus. 4. The company's assessment of recoverability and impairment of the following financial assets has been included by the auditors under Emphasis of matter . The Management is of the view that these assets are good and recoverable and consequently no provision beyond what is carried in the books is required. a.Trade receivables from customers Rs 532.46 lakhs( Including related party of Rs.323.77( Previous year Rs 512.12 lakhs) net of Expected credit loss (ECL) provision. b.Minium alternative tax credit (MAT) Credit receivable is Rs 122.56 Lakhs.( Previous year Rs 122.56 lakhs). Recoverability of MAT credit would depend upon company ability to earn taxable profits in future before expiry of the timelimite prescribed for carryforward of MAT credit. C.Margin money deposits with banks of Rs.1492.04 Lakhs (Previous year Rs 1702.34 lakhs) secured for customer guarantees under arbitration/negotiation 5. The figures for the quarter ended 31 St March 2024 and 2023 represent the differences between the audited figures in respect of full financial year and the published figures for the nine months ended December 31,2023 and December 31,2022, respectively. 6. The Results for the quarter ended 31 St March , 2024 are also available on websites of BSELimited, National Stock Exchange Limited and on the company's website.7. Figures for previous periods have been regrouped/rearranged, wherever considered necessary , inline with the current period presentation. Place: Hyderabad Date: 13.07.2024 Single segment 2023-04-01 2024-03-31 Audited Standalone 192983000.00 20166000.00 213149000.00 501257000.00 0.00 -375499000.00 120513000.00 22386000.00 23404000.00 126010000.00 418070000.00 -204921000.00 0.00 -204921000.00 0.00 -869000.00 -869000.00 0.00 -204053000.00 0.00 0.00 0.00 0.00 -204053000.00 61000.00 -203992000.00 0.00 0.00 167594000.00 10 1050545000.00 -12.83 -12.83 0.00 0.00 -12.83 -12.83 Amount transferred to capital expenditure -28715000.00 Other Expenses 50460000.00 Project Execution Expenses 17585000.00 Amount transferred to capital expenditure -35277000.00 Other Expenses 102106000.00 Project Execution Expenses 59180000.00 236815000.00 0.00 0.00 0.00 84000.00 23139000.00 0.00 0.00 128397000.00 60939000.00 48970000.00 5071000.00 243377000.00 0.00 25874000.00 529289000.00 716956000.00 0.00 3632000.00 38480000.00 151331000.00 0.00 2427000.00 195870000.00 15497000.00 271110000.00 1199433000.00 0.00 0.00 1728722000.00 167594000.00 1050545000.00 1218139000.00 1218139000.00 1852000.00 0.00 0.00 1852000.00 135000.00 11496000.00 0.00 0.00 13483000.00 240578000.00 197864000.00 47630000.00 486072000.00 11028000.00 0.00 0.00 0.00 497100000.00 0.00 0.00 510583000.00 1728722000.00 22386000.00 -577288000.00 -249000.00 0.00 -147804000.00 0.00 -3778000.00 -1376000.00 0.00 157506000.00 0.00 0.00 0.00 23404000.00 0.00 -1683000.00 27615000.00 -380000.00 0.00 -8706000.00 0.00 -7164000.00 0.00 0.00 0.00 0.00 10950000.00 0.00 0.00 -492239000.00 -697160000.00 0.00 0.00 0.00 0.00 0.00 -697160000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9298000.00 2213000.00 24849000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 146000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7164000.00 0.00 -23139000.00 0.00 -48055000.00 0.00 0.00 523900000.00 0.00 0.00 0.00 0.00 0.00 158952000.00 3221000.00 0.00 0.00 0.00 22386000.00 0.00 -24676000.00 632570000.00 -112645000.00 0.00 -112645000.00 151126000.00 38481000.00 81000.00 81000.00 20000.00 20000.00