Kernex Microsystems (India) Limited has informed the Exchange regarding 'Update on CLW order'.
KERNEX · price
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Kernex Microsystems has informed exchanges about its 2024 order from Chittaranjan Locomotive Works (CLW) for KAVACH train protection equipment on 2,500 locomotives. The company could not deliver on time because of delays in the certification process and asked for more time, but CLW rejected the extension request in a letter dated January 9, 2026. Management has clarified that this rejection will not hurt the company's financials, technical standing, or its ability to bid for future Indian Railway projects. Indian Railways has recently floated fresh locomotive tenders through CLW and Banaras Locomotive Works, and bidding is complete with results expected soon. Kernex plans to use the unsupplied inventory from the existing project for these upcoming requirements and other opportunities.
Short-term sentiment may be cautious as the missed deadline and denied extension raise execution concerns, but management's reassurance of no financial hit and the prospect of winning fresh CLW/BLW tenders limit downside risk. Investors should watch for the upcoming tender results, which could be a meaningful catalyst.