KERNEX2024-10-012024-12-31 KERNEX2024-10-012024-12-31 KERNEX2024-10-012024-12-31in-bse-fin:OneOperatingExpenses01Member KERNEX2024-10-012024-12-31in-bse-fin:OneOperatingExpenses02Member KERNEX2024-10-012024-12-31in-bse-fin:OneOperatingExpenses03Member KERNEX2024-10-012024-12-31in-bse-fin:FourOperatingExpenses01Member KERNEX2024-10-012024-12-31in-bse-fin:FourOperatingExpenses02Member KERNEX2024-10-012024-12-31in-bse-fin:FourOperatingExpenses03Member KERNEX2024-12-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 532686 KERNEX NOTLISTED Kernex Microsystems (India) Limited Equity 2024-04-01 2025-03-31 2025-02-13 2025-02-09 INR Lakhs Third quarter 09:10:00 10:55:00 2025-02-13 2025-02-13 Not applicable Single segment Safety Systems for Railways 2024-10-01 2024-12-31 Unaudited Standalone 367977000.00 5013000.00 372991000.00 211912000.00 0.00 -67272000.00 49739000.00 12096000.00 6199000.00 89514000.00 302189000.00 70802000.00 0.00 70802000.00 0.00 -636000.00 -636000.00 0.00 71437000.00 0.00 0.00 0.00 0.00 71437000.00 0.00 71437000.00 0.00 0.00 167594000.00 10 4.26 4.26 0.00 0.00 4.26 4.26 1.The above statement of Unaudited Standalone Financial Results of Kernex Microsystems (India) Limited ( the company ) which have been prepared in accordance with the Indian Accounting Standards ( Ind AS ) prescribed under section 133 of the companies act, 2013 ( the act ) read with relevant rules issued thereunder, other accounting principles 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 February 13, 2025. 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 a qualified 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 in respect of provision for impairment of Rs 1543.97 Lakhs has not been provided in the standalone financial statements as required under IND AS 36( Impairment of assets) towards (a) Diminishing of carrying value of the total amount of investment made in Avant-Garde Infosystems, Inc i.e .AGI (100% wholly owned foreign subsidiary) of Rs 1275.97 Lakhs consequent to complete erosion of net worth of Avant-Garde Infosystems, Inc. b) Non provision for accumulated losses for the share of TCAS JV for an amount of Rs 268.00 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 260.00 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 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 380.97 lakhs( PY 609.39 Lakhs) Includes a related party of Rs.234.75 Lakhs( Previous year Rs 320.00 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). c.Margin money deposits with banks of Rs.1637.70 Lakhs (Previous year Rs 1513.31 Lakhs) secured for customer guarantees of Rs 2177.23 lakhs (Previous Year Rs 2161.71 Lakhs) under arbitration/negotiation 5. The Results for the quarter and Nine months ended December 31, 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 2024-12-31 Unaudited Standalone 1066343000.00 14427000.00 1080770000.00 667507000.00 0.00 -156261000.00 120610000.00 51872000.00 18986000.00 196114000.00 898828000.00 181942000.00 0.00 181942000.00 0.00 -2135000.00 -2135000.00 0.00 184077000.00 0.00 0.00 0.00 0.00 184077000.00 0.00 184077000.00 0.00 0.00 167594000.00 10 10.98 10.98 0.00 0.00 10.98 10.98 Amount Transferred to Capital Expenditure -6166000.00 Other Expenses 5311000.00 Project Execution Expenses 90369000.00 Amount Transferred to Capital Expenditure -22441000.00 Other Expenses 46089000.00 Project Execution Expenses 172466000.00