Kernex: TCAS led multi year growth story

Orders for 70km(30%) to kernex have already been allotted or its anticipated?

The 70km was a historical trial order - award year is mentioned in the document.

Believe the key monitorable is the new tender that has been floated for 1200 km worth 190 crores on 8th March 2019 (

One of the eligibility criteria is:
“Annual financial turnover during the last 3 years, ending 31st March of the previous financial year should be at least 30% of the estimated cost of the EOI and profit making for each of the last 3 financial years.”

Does Kernex qualify the criteria? According to Screener they are a loss-making company for the last 6 consecutive years. Sales doesn’t meet the criteria either.

b11bd849-d535-49f3-8c61-4c6d8f4491cc.pdf (256.8 KB)

Got orders worth INR 57cr from sri lanka railway

Commentary in annual report FY 19

  1. Order win from Sri Lankan railways worth $8 million = 57 crores

  2. Tender bidding for 1,200 kms of tracks

While the AR doesn’t specifically the value of tender being bid for, indicative value from the link below appears to be 189 crores.

The progress of this tender would be important to track.

Kernex fresh order announcement.

kernex order announcement sep 22.pdf (319.6 KB)


Number of shares increased by 15 lakhs. Per share ₹250 is issue price, debt converted to equity.


Another ₹254 Cr order to Kernex.


Any news on performance of Kernex? Though their order value is growing but execution is not seen.