KERNEX2024-07-012024-09-30 KERNEX2024-07-012024-09-30 KERNEX2024-07-012024-09-30in-bse-fin:OneOperatingExpenses01Member KERNEX2024-07-012024-09-30in-bse-fin:OneOperatingExpenses02Member KERNEX2024-07-012024-09-30in-bse-fin:FourOperatingExpenses01Member KERNEX2024-07-012024-09-30in-bse-fin:FourOperatingExpenses02Member KERNEX2024-09-30 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 532686 KERNEX NOTLISTED Kernex Microsystems (India) Limited Equity 2024-04-01 2025-03-31 2024-11-14 2024-11-09 INR Lakhs Half yearly 10:30:00 16:15:00 2024-11-14 2024-11-14 true Cash Flow Indirect Not applicable Single segment Safety Systems for Railways 2024-07-01 2024-09-30 Unaudited Standalone 411597000.00 4851000.00 416447000.00 287390000.00 -75786000.00 42753000.00 36188000.00 29957000.00 6495000.00 17151000.00 344147000.00 72301000.00 0.00 72301000.00 0.00 -150000.00 -150000.00 0.00 72451000.00 0.00 0.00 0.00 0.00 72451000.00 0.00 72451000.00 0.00 0.00 167594000.00 10 4.32 4.32 0.00 0.00 4.32 4.32 1. The above statement of Unaudited 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 November 14, 2024. Theses results are as per Regulation 33 of SEBI( Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended. The statutory Auditors have carried out a limited review on the Unaudited standalone financial results and issued qualifed report thereon. 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 of Rs 1526.16Lakhs 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 Impairment agansit Loan given to TCAS JV ( a Joint Venture in which company has 80% share of profits/losses engaged in execution of railway projects) . The impairment is required towards non recoverability to the extent of Rs 250.19 Lakhs out of the total advance of Rs 508.17 Lakhs due to the insufficiency of net assest avaibale.( To the extent of Rs 270.48 Lakhs only) for recovery of said advance. The company management is of opinion that the 100% subsidiary (AGI) being a cost center 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 TCAS 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 required. a.Trade receivables (Non current ) from customers Rs 359.72 lakhs ( PY Rs 609.39 lakhs) Including a related party of Rs.216.96 Lakhs ( PY 418.38Lakhs) net of Expected credit loss (ECL) provision. b.Minium alternative tax credit (MAT) Credit receivable is Rs 122.56 Lakhs( PY 122.26 Lakhs). c.Margin money deposits with banks of Rs.1561.54 lakhs ( PY 1508.60 Lakhs) secured for customer guarantees of Rs 2161.71 lakhs ( PY 2090.97 Lakhs) under arbitration/negotiation. 5 The Results for the quarter and Half year ended September 30 , 2024 are also available on websites of BSE Limited, the National Stock Exchange Limited and on the company's website. 6.Figures for previous periods have been regrouped/rearranged, wherever considered necessary , inline with the current period presentation. Single segment 2024-04-01 2024-09-30 Unaudited Standalone 698366000.00 9414000.00 707780000.00 455595000.00 -88989000.00 82097000.00 70871000.00 39776000.00 12787000.00 24502000.00 596639000.00 111141000.00 0.00 111141000.00 0.00 -1500000.00 -1500000.00 0.00 112641000.00 0.00 0.00 0.00 0.00 112641000.00 0.00 112641000.00 0.00 0.00 167594000.00 10 6.72 6.72 0.00 0.00 6.72 6.72 Amount Transfer to capital Expenditure -5936000.00 Others 23087000.00 Amount Transfer to capital Expenditure -16274000.00 Others 40776000.00 230539000.00 745000.00 0.00 0.00 52000.00 35282000.00 0.00 0.00 128397000.00 35973000.00 50817000.00 1990000.00 217177000.00 25874000.00 509667000.00 767007000.00 0.00 239379000.00 82017000.00 156154000.00 0.00 3038000.00 480587000.00 29786000.00 276764000.00 1554144000.00 0.00 0.00 2063811000.00 167594000.00 1162861000.00 1330455000.00 1330455000.00 1023000.00 0.00 1023000.00 5598000.00 9997000.00 16618000.00 306367000.00 313294000.00 78612000.00 698274000.00 18465000.00 0.00 0.00 0.00 716738000.00 0.00 0.00 733356000.00 2063811000.00 39776000.00 -60057000.00 -210780000.00 0.00 -10477000.00 0.00 3081000.00 -14549000.00 0.00 115430000.00 0.00 6404000.00 0.00 12787000.00 0.00 15469000.00 0.00 30983000.00 0.00 325000.00 0.00 4816000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -76424000.00 34717000.00 0.00 0.00 0.00 0.00 0.00 34717000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6510000.00 0.00 0.00 0.00 12823000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1848000.00 0.00 0.00 0.00 0.00 4816000.00 0.00 0.00 0.00 -16365000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 66235000.00 1274000.00 0.00 0.00 0.00 39776000.00 0.00 0.00 25185000.00 43537000.00 0.00 43537000.00 38480000.00 82017000.00 0.00 0.00 0.00 0.00