Kernex Microsystems (India) Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.

Qualified audit opinionEmphasis of matterRevenue growth above 20%EBITDA margin compressionResults View source PDF Explain this filing

KERNEX · price

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AI summary

Kernex Microsystems reported Q3 FY26 results with consolidated revenue from operations of ₹7,259.76 lakhs, nearly doubling from ₹3,680.80 lakhs in Q3 FY25 (about 97% growth). For the nine-month period, consolidated revenue grew roughly 65% to ₹17,564 lakhs and consolidated PAT rose about 14% to ₹1,999 lakhs. Despite the strong top-line, Q3 consolidated PAT fell to ₹605.88 lakhs from ₹713.51 lakhs a year ago, and standalone nine-month PAT actually declined to ₹1,606 lakhs from ₹1,841 lakhs, with finance costs more than tripling to ₹1,636 lakhs (from ₹531 lakhs) pressuring margins. The statutory auditor issued a qualified conclusion on the standalone results because the company did not recognise an impairment of ₹1,275.97 lakhs on its investment in wholly owned US subsidiary Avant-Garde Infosystems, whose net worth is fully eroded. An emphasis of matter was added on long-outstanding trade receivables of ₹422.73 lakhs and bank guarantees of ₹265.03 lakhs under arbitration. Order book stands at roughly ₹3,268 crores, with ₹2,500 crores from LOCO TCAS projects at CLW and BLW.

Likely market impact

Strong order book and double-digit revenue growth support the business outlook, but the auditor's qualified opinion on the US subsidiary impairment, sharply higher finance costs squeezing margins, and a YoY drop in Q3 PAT are clear red flags that may weigh on sentiment. Shareholders should track margin trends and the resolution of the AGI impairment question in upcoming filings.