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KERNEX MICROSYSTEMS INDIA LT (KERNEX)

Electronic Technology

Earnings #14Growth #3
Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.73 / 100
Profitability 96Growth 100Balance sheet 23
Momentum scoreHow strong the recent trend is: 3-month price change, 12-month improvement in earnings and the rise in FII + DII holding, among companies above ₹500 cr.60 / 100
Price 4Earnings 97FII/DII 78

Passes these screens: Quality Compounder · Value Pick

Share Price
₹1563.50
P/E
13.8x
ROCE
48.0%
Market Cap
₹2626 cr
Revenue (TTM)
₹879 cr
P/S
3.0x
P/B
10.6x
ROE
76.9%
Operating Margin
32.0%
Debt / Equity
0.7x
Promoter Holding
28.7%
12M Momentum
20.1%
P/E vs its own history23rd percentilesince Feb '19
P/E vs Electronic Technology0.3xthe sector median

52-week range

₹850.00₹2580.00
41% of the way from its 52-week low to its high

Price risk

1Y volatility
61.3%
Beta vs sector
1-year daily
1.04

Balance sheet & cash

Interest cover
operating profit ÷ interest
7.5x
Cash from profit, 3Y
operating cash flow ÷ net profit
-1.41x
low
Share count, 1Y
unchanged

Was the rally earned?

+20%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 138 points, but investors now pay less per rupee of profit (P/E 40.3x to 13.8x), which took 118 points back.
  • The share count barely moved.
1 year Net profit growth: +139 pts. Points of the price return explained by net profit growing (or shrinking).+139 ptsP/E change: -118 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-118 ptsShare count change: -0 pts. Points of the price return explained by the share count changing. More shares count against the price. +20% 1 year Net profit growth: +139 pts. Points of the price return explained by net profit growing (or shrinking).+139 ptsP/E change: -118 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-118 ptsShare count change: -0 pts. Points of the price return explained by the share count changing. More shares count against the price. +20%
Net profit growth+139 ptsNet profit rose about 253%, which lifts the price.
P/E change-118 ptsThe P/E fell from 40.3x to 13.8x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+1795%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 2593 points, but investors now pay less per rupee of profit (P/E 50.9x to 13.8x), which took 798 points back.
  • The share count rose 42%.
5 years Net profit growth: +2806 pts. Points of the price return explained by net profit growing (or shrinking).+2806 ptsP/E change: -798 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-798 ptsShare count change: -213 pts. Points of the price return explained by the share count changing. More shares count against the price. +1795% 5 years Net profit growth: +2806 pts. Points of the price return explained by net profit growing (or shrinking).+2806 ptsP/E change: -798 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-798 ptsShare count change: -213 pts. Points of the price return explained by the share count changing. More shares count against the price. +1795%
Net profit growth+2806 ptsNet profit rose about 9826%, which lifts the price.
P/E change-798 ptsThe P/E fell from 50.9x to 13.8x, which lowers the price.
Share count change-212 ptsShare count rose 42%, which lowers the price.
What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Not shown for 3 years: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare with other companies

Is it expensive against its own past and its peers?

13.8xP/E todayWithin its usual range
Against its own history23rd percentileMedian 38.6x; usual range 7.5x to 100.3x since 2019-02.
Against Electronic Technology13.8x vs 55.3xBelow the Electronic Technology median.
6.1x133.2x260.2x387.2xFeb '19Sep '20Apr '22Nov '23Jun '25Oct '266.1x133.2x260.2x387.2xFeb '19Sep '21Apr '24Oct '26
P/E (this company)10th to 90th percentile of its own historyIts medianElectronic Technology median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianElectronic Technology median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianElectronic Technology median
How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dashed line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Electronic Technology is valued

What is the price implying?

~43%annual earnings growth implied by the price

At a P/E of 177.8x, the price would imply about 43.4%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Fewer than six years of annual earnings are available, which is too little to measure delivered growth.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Electronic Technology The market-wide Expectations lists

What changed?

  1. Oct '26Fell 39% from the Aug 2026 peak to the Oct 2026 low.
  2. Sep '26Moved into the top quartile of Electronic Technology on EPS growth (from the 2nd quartile).
  3. Aug '26Volume reached 10.5x its 50-day median on 2026-08-13; price +3.3% that day.
  4. Jun '26Moved into the top quartile of Electronic Technology on ROCE (from the 2nd quartile).
  5. May '26Regained the 2024-12 peak, 14 months after the low.
  6. May '26Volume reached 12.9x its 50-day median on 2026-05-29; price +13.8% that day.
  7. Mar '26Year-on-year EPS growth turned positive.
  8. Mar '26Moved into the top quartile of Electronic Technology on EPS growth (from the bottom quartile).
Show 22 earlier events
  1. Jan '26Volume reached 20.5x its 50-day median on 2026-01-16; price +7.4% that day.
  2. Oct '25Volume reached 12.2x its 50-day median on 2025-10-15; price -0.3% that day.
  3. Sep '25Slipped to the 2nd quartile of Electronic Technology on ROCE (from the top quartile).
  4. Aug '25Volume reached 5.1x its 50-day median on 2025-08-19; price +5.0% that day.
  5. Jul '25Moved into the top quartile of Electronic Technology on ROCE (from the bottom quartile).
  6. May '25Volume reached 10.4x its 50-day median on 2025-05-27; price -0.4% that day.
  7. Mar '25EPS (TTM) turned positive.
  8. Mar '25Fell 57% from the Dec 2024 peak to the Mar 2025 low.
  9. Mar '25P/E crossed above the 90th percentile of its own history to date (259.9x).
  10. Dec '24Volume reached 9.4x its 50-day median on 2024-12-12; price +5.0% that day.
  11. Nov '24Regained the 2024-08 peak, 1 month after the low.
  12. Oct '24Fell 31% from the Aug 2024 peak to the Oct 2024 low.
  13. Sep '24Moved into the top quartile of Electronic Technology on operating margin (from the bottom quartile).
  14. Aug '24Regained the 2024-01 peak, 2 months after the low.
  15. Jul '24Share count is up 13.3% over 12 months.
  16. Jul '24Volume reached 9.3x its 50-day median on 2024-07-18; price +1.2% that day.
  17. Jun '24Revenue (TTM) reached a new high of ₹19 cr.
  18. Jun '24Fell 51% from the Jan 2024 peak to the Jun 2024 low.
  19. Jun '24Volume reached 28.4x its 50-day median on 2024-06-20; price +5.0% that day.
  20. Feb '24Volume reached 10.8x its 50-day median on 2024-02-26; price +5.0% that day.
  21. Jan '24Debt / equity halved over 12 months to 0.13x.
  22. Aug '23Regained the 2022-10 peak, 5 months after the low.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Are profits backed by cash?

2 of 7 checks are within range, 2 near a threshold, 3 beyond a threshold.
Tap a check to see how it is measured.

Other income reliance0%Within range

Other income as a share of pre-tax profit (trailing twelve months): 0.4%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate2%Beyond threshold

Median quarterly effective tax rate over about 2.5 years: 1.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion-1.41xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: -1.41x (cash from operations ₹-156 cr, net profit ₹111 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow2 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 2. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+223 daysBeyond threshold

Debtor days are above the median of the previous three fiscal years by 223 days (268 vs 45). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+478 days / 2 yrsNear threshold

Days payable changed by +478 over two years. Bands: rise of up to 30 days; more than 30 days.

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 2 years, FIIs added 2.5 pts.
  • The number of shareholders rose from 15,007 to 41,803 (+179%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters29.1%28.7%-0.4 pts
FIIs0.0%2.5%+2.5 pts
DIIs0.0%0.1%0.0 pts
Public and others70.8%68.7%-2.1 pts

Number of shareholders

41,803shareholders+179% since Dec '23
15k24k34k43k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 15,007
Mar '24: 16,240
Jun '24: 22,241
Sep '24: 27,058
Dec '24: 34,242
Mar '25: 37,894
Jun '25: 42,149
Sep '25: 42,785
Dec '25: 40,187
Mar '26: 41,511
Jun '26: 41,803
 15k24k34k43k Dec '23Dec '24Dec '25Jun '26
Dec '23: 15,007
Mar '24: 16,240
Jun '24: 22,241
Sep '24: 27,058
Dec '24: 34,242
Mar '25: 37,894
Jun '25: 42,149
Sep '25: 42,785
Dec '25: 40,187
Mar '26: 41,511
Jun '26: 41,803

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

How rough has the ride been?

Maximum drawdown-60.1%recovered 2020-12
1-year volatility61.3%annualised
Beta vs sector index0.673-year daily, correlation 0.31
Volume spikes4last 90 sessions, 5x the 50-day median

Monthly share price

₹13₹773₹1,532₹2,292 Feb '19Sep '20Apr '22Nov '23Jun '25Oct '26
2019-02: ₹21.85
2019-03: ₹22.30
2019-04: ₹24.70
2019-05: ₹25.50
2019-06: ₹26.90
2019-07: ₹20.80
2019-08: ₹18.50
2019-09: ₹27.55
2019-10: ₹23.65
2019-11: ₹21.60
2019-12: ₹20.15
2020-01: ₹18.50
2020-02: ₹19.95
2020-03: ₹13.35
2020-04: ₹13.75
2020-05: ₹13.15
2020-06: ₹17.75
2020-07: ₹16.75
2020-08: ₹19.50
2020-09: ₹18.50
2020-10: ₹17.35
2020-11: ₹23.10
2020-12: ₹29.10
2021-01: ₹24.90
2021-02: ₹30.05
2021-03: ₹66.45
2021-04: ₹42.70
2021-05: ₹58.75
2021-06: ₹79.60
2021-07: ₹77.05
2021-08: ₹70.95
2021-09: ₹73.15
2021-10: ₹82.50
2021-11: ₹83.00
2021-12: ₹124.10
2022-01: ₹117.65
2022-02: ₹109.80
2022-03: ₹145.35
2022-04: ₹183.30
2022-05: ₹169.75
2022-06: ₹188.40
2022-07: ₹219.90
2022-08: ₹228.20
2022-09: ₹286.65
2022-10: ₹361.80
2022-11: ₹341.55
2022-12: ₹276.20
2023-01: ₹296.95
2023-02: ₹270.90
2023-03: ₹245.50
2023-04: ₹274.95
2023-05: ₹256.75
2023-06: ₹358.45
2023-07: ₹311.60
2023-08: ₹410.70
2023-09: ₹447.05
2023-10: ₹604.15
2023-11: ₹572.50
2023-12: ₹577.15
2024-01: ₹684.75
2024-02: ₹656.85
2024-03: ₹560.00
2024-04: ₹528.25
2024-05: ₹410.65
2024-06: ₹396.30
2024-07: ₹588.65
2024-08: ₹820.05
2024-09: ₹748.95
2024-10: ₹769.55
2024-11: ₹1111.45
2024-12: ₹1345.80
2025-01: ₹1300.70
2025-02: ₹881.55
2025-03: ₹779.70
2025-04: ₹731.10
2025-05: ₹1161.70
2025-06: ₹1187.00
2025-07: ₹1093.20
2025-08: ₹1033.30
2025-09: ₹1021.20
2025-10: ₹1301.60
2025-11: ₹1132.30
2025-12: ₹1219.30
2026-01: ₹1257.80
2026-02: ₹1078.00
2026-03: ₹857.00
2026-04: ₹1348.80
2026-05: ₹1689.90
2026-06: ₹2159.90
2026-07: ₹2291.70
2026-08: ₹1735.90
2026-09: ₹1686.00
2026-10: ₹1563.50
 ₹13₹773₹1,532₹2,292 Feb '19Sep '21Apr '24Oct '26
2019-02: ₹21.85
2019-03: ₹22.30
2019-04: ₹24.70
2019-05: ₹25.50
2019-06: ₹26.90
2019-07: ₹20.80
2019-08: ₹18.50
2019-09: ₹27.55
2019-10: ₹23.65
2019-11: ₹21.60
2019-12: ₹20.15
2020-01: ₹18.50
2020-02: ₹19.95
2020-03: ₹13.35
2020-04: ₹13.75
2020-05: ₹13.15
2020-06: ₹17.75
2020-07: ₹16.75
2020-08: ₹19.50
2020-09: ₹18.50
2020-10: ₹17.35
2020-11: ₹23.10
2020-12: ₹29.10
2021-01: ₹24.90
2021-02: ₹30.05
2021-03: ₹66.45
2021-04: ₹42.70
2021-05: ₹58.75
2021-06: ₹79.60
2021-07: ₹77.05
2021-08: ₹70.95
2021-09: ₹73.15
2021-10: ₹82.50
2021-11: ₹83.00
2021-12: ₹124.10
2022-01: ₹117.65
2022-02: ₹109.80
2022-03: ₹145.35
2022-04: ₹183.30
2022-05: ₹169.75
2022-06: ₹188.40
2022-07: ₹219.90
2022-08: ₹228.20
2022-09: ₹286.65
2022-10: ₹361.80
2022-11: ₹341.55
2022-12: ₹276.20
2023-01: ₹296.95
2023-02: ₹270.90
2023-03: ₹245.50
2023-04: ₹274.95
2023-05: ₹256.75
2023-06: ₹358.45
2023-07: ₹311.60
2023-08: ₹410.70
2023-09: ₹447.05
2023-10: ₹604.15
2023-11: ₹572.50
2023-12: ₹577.15
2024-01: ₹684.75
2024-02: ₹656.85
2024-03: ₹560.00
2024-04: ₹528.25
2024-05: ₹410.65
2024-06: ₹396.30
2024-07: ₹588.65
2024-08: ₹820.05
2024-09: ₹748.95
2024-10: ₹769.55
2024-11: ₹1111.45
2024-12: ₹1345.80
2025-01: ₹1300.70
2025-02: ₹881.55
2025-03: ₹779.70
2025-04: ₹731.10
2025-05: ₹1161.70
2025-06: ₹1187.00
2025-07: ₹1093.20
2025-08: ₹1033.30
2025-09: ₹1021.20
2025-10: ₹1301.60
2025-11: ₹1132.30
2025-12: ₹1219.30
2026-01: ₹1257.80
2026-02: ₹1078.00
2026-03: ₹857.00
2026-04: ₹1348.80
2026-05: ₹1689.90
2026-06: ₹2159.90
2026-07: ₹2291.70
2026-08: ₹1735.90
2026-09: ₹1686.00
2026-10: ₹1563.50

Last 90 trading days

₹1,564₹1,892₹2,221₹2,549 Jun 23Jul 20Aug 13Sep 8Oct 6Oct 30
2026-06-23: ₹1960.70
2026-06-25: ₹2035.70
2026-06-30: ₹2159.90
2026-07-02: ₹2389.10
2026-07-06: ₹2403.00
2026-07-08: ₹2038.60
2026-07-10: ₹2157.50
2026-07-14: ₹2192.90
2026-07-16: ₹2105.00
2026-07-20: ₹2120.10
2026-07-22: ₹2195.60
2026-07-24: ₹2205.20
2026-07-28: ₹2282.40
2026-07-30: ₹2215.10
2026-08-03: ₹2278.00
2026-08-05: ₹2549.20
2026-08-07: ₹2451.80
2026-08-11: ₹2387.30
2026-08-13: ₹2242.70
2026-08-17: ₹1751.70
2026-08-19: ₹1875.00
2026-08-21: ₹1934.50
2026-08-25: ₹1899.40
2026-08-27: ₹1801.20
2026-08-31: ₹1735.90
2026-09-02: ₹1736.40
2026-09-04: ₹1817.00
2026-09-08: ₹1732.00
2026-09-10: ₹1709.50
2026-09-15: ₹1656.30
2026-09-17: ₹1722.60
2026-09-21: ₹1779.70
2026-09-23: ₹1731.00
2026-09-25: ₹1693.50
2026-09-29: ₹1744.10
2026-10-01: ₹1643.50
2026-10-06: ₹1749.70
2026-10-08: ₹1700.50
2026-10-12: ₹1780.50
2026-10-14: ₹1798.30
2026-10-16: ₹1772.50
2026-10-21: ₹1658.20
2026-10-23: ₹1587.20
2026-10-27: ₹1615.70
2026-10-29: ₹1612.40
2026-10-30: ₹1563.50
 ₹1,564₹1,892₹2,221₹2,549 Jun 23Aug 5Sep 17Oct 30
2026-06-23: ₹1960.70
2026-06-25: ₹2035.70
2026-06-30: ₹2159.90
2026-07-02: ₹2389.10
2026-07-06: ₹2403.00
2026-07-08: ₹2038.60
2026-07-10: ₹2157.50
2026-07-14: ₹2192.90
2026-07-16: ₹2105.00
2026-07-20: ₹2120.10
2026-07-22: ₹2195.60
2026-07-24: ₹2205.20
2026-07-28: ₹2282.40
2026-07-30: ₹2215.10
2026-08-03: ₹2278.00
2026-08-05: ₹2549.20
2026-08-07: ₹2451.80
2026-08-11: ₹2387.30
2026-08-13: ₹2242.70
2026-08-17: ₹1751.70
2026-08-19: ₹1875.00
2026-08-21: ₹1934.50
2026-08-25: ₹1899.40
2026-08-27: ₹1801.20
2026-08-31: ₹1735.90
2026-09-02: ₹1736.40
2026-09-04: ₹1817.00
2026-09-08: ₹1732.00
2026-09-10: ₹1709.50
2026-09-15: ₹1656.30
2026-09-17: ₹1722.60
2026-09-21: ₹1779.70
2026-09-23: ₹1731.00
2026-09-25: ₹1693.50
2026-09-29: ₹1744.10
2026-10-01: ₹1643.50
2026-10-06: ₹1749.70
2026-10-08: ₹1700.50
2026-10-12: ₹1780.50
2026-10-14: ₹1798.30
2026-10-16: ₹1772.50
2026-10-21: ₹1658.20
2026-10-23: ₹1587.20
2026-10-27: ₹1615.70
2026-10-29: ₹1612.40
2026-10-30: ₹1563.50

Drawdown from peak

0% -30% -59% Feb '19Dec '22Oct '26 0% -30% -59% Feb '19Dec '22Oct '26
Largest drawdowns

-60.1% (2019-10 peak to 2020-03 low, recovered 2020-12)

-57.2% (2024-12 peak to 2025-03 low, recovered 2026-05)

-50.8% (2024-01 peak to 2024-06 low, recovered 2024-08)

Most recent volume spikes

2026-08-18: 6.5x the 50-day median, price +8.6% that day

2026-08-17: 7.2x the 50-day median, price -13.5% that day

2026-08-14: 5.9x the 50-day median, price -9.7% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Where does it rank among Electronic Technology peers?

Each cell is the company's percentile rank among its Electronic Technology peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Nov '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Oct '26
Lower rank Higher rank

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Electronic Technology sector page Watch it move against Electronic Technology in the Observatory

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

CompanySectorSimilarityClosest on
SANGHVI MOVERS (SANGHVIMOV)Industrial Services50%operating margin, market cap
IIFL CAPITAL SERVICES (IIFLCAPS)Finance44%promoter holding, debt/equity
ARIHANT FOUNDATIONS & HOUSING (ARIHANT)Finance43%P/E, operating margin
MAGELLANIC CLOUD (MCLOUD)Technology Services43%P/E, operating margin
ORIANA POWER (ORIANA)Industrial Services43%revenue growth, debt/equity
WEBSOL ENERGY SYSTEM (WEBELSOLAR)Electronic Technology59%promoter holding, ROCE
GENUS POWER INFRASTRUCTURES LT (GENUSPOWER)Electronic Technology35%P/E, revenue growth
ALPEX SOLAR (ALPEXSOLAR)Electronic Technology13%ROCE, market cap

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What happened next to similar setups

−14.4%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like KERNEX MICROSYSTEMS INDIA LT today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −43% to +13% vs the market, against −5% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −9.1%, 80% range −20.2% to −2.5%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
AVPINFRA · Jun 2025: −64.0% vs market
SURAJEST · Dec 2024: −58.9% vs market
KOPRAN · Jan 2022: −54.4% vs market
BASILIC · Jun 2025: −51.4% vs market
APS · Sep 2025: −49.8% vs market
MBAPL · Jun 2023: −47.4% vs market
RAJRATAN · Mar 2023: −47.3% vs market
GGBL · Oct 2025: −46.1% vs market
SKMEGGPROD · Jan 2024: −45.8% vs market
EMSLIMITED · Apr 2025: −45.6% vs market
SHAKTIPUMP · Aug 2025: −44.0% vs market
KHAICHEM · Jun 2022: −43.3% vs market
EKC · Jun 2022: −43.1% vs market
ORIANA · Jul 2025: −41.1% vs market
MASTEK · Jan 2022: −39.0% vs market
MENONBE · Jul 2023: −31.1% vs market
ASALCBR · Jul 2025: −29.8% vs market
DOLATALGO · Nov 2021: −27.2% vs market
RUPA · Aug 2021: −26.0% vs market
PVP · Apr 2024: −24.4% vs market
EPIGRAL · Feb 2023: −22.8% vs market
PUNJABCHEM · Nov 2021: −22.7% vs market
ROHLTD · Aug 2023: −17.8% vs market
FAIRCHEMOR · May 2022: −16.2% vs market
SOLEX · Jun 2025: −16.0% vs market
ARIHANTCAP · Mar 2025: −12.8% vs market
JTLIND · May 2023: −11.4% vs market
ESTER · Jun 2021: −10.4% vs market
FACT · Apr 2021: −7.0% vs market
BFUTILITIE · Mar 2024: −6.1% vs market
RSYSTEMS · Apr 2022: +1.8% vs market
POKARNA · Jun 2025: +2.7% vs market
IIFLCAPS · Dec 2024: +5.0% vs market
IMAGICAA · Sep 2023: +7.6% vs market
BESTAGRO · Apr 2022: +11.5% vs market
VIVIANA · Jun 2025: +12.3% vs market
ROSSELLIND · Jun 2021: +12.7% vs market
SHAREINDIA · Aug 2022: +12.9% vs market
GTPL · Apr 2021: +18.2% vs market
ANGELONE · Jun 2022: +18.7% vs market
MANINFRA · Jun 2022: +24.8% vs market
SANGHVIMOV · Sep 2025: +25.7% vs market
CAPLIPOINT · Jan 2021: +27.3% vs market
MONARCH · Jun 2024: +27.6% vs market
ALPEXSOLAR · Mar 2025: +37.6% vs market
STLTECH · May 2020: +51.0% vs market
SRHHYPOLTD · Mar 2021: +62.5% vs market
KPIGREEN · Sep 2023: +117.0% vs market
THEJO · Mar 2021: +150.0% vs market
REFEX · Mar 2024: +172.2% vs market
Similar setups −14.4%All companies −5.3%← worse than the marketbetter than the market →

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 3 beyond the range shown, drawn at the edge

Similar setups' median
−14.4%
All companies' median
−5.3%
Beat the market
40% vs 44%

50 past situations · 50 companies · 31 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
MANINFRA
Finance		 Jun 2022 13x33% +97%−41% +25%
ORIANA
Industrial Services		 Jul 2025 29x42% +11%−19% −41%
SHAKTIPUMP
Producer Manufacturing		 Aug 2025 24x55% +8%−40% −44%
ROSSELLIND
Electronic Technology		 Jun 2021 17x— +149%−10% +13%
BASILIC
Consumer Services		 Jun 2025 26x30% −2%−35% −51%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
DOLATALGO
Finance		 Nov 2021 10x64% +83%−31% −27%
SHAREINDIA
Finance		 Aug 2022 18x57% +112%−22% +13%
IIFLCAPS
Finance		 Dec 2024 14x35% +123%−26% +5%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, interest cover and size. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to KERNEX MICROSYSTEMS INDIA LT. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-10-30. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 97,430 company-months from 2000 companies; financial: 5,632 company-months from 106 companies. 2240 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.
Monthly history (93 months)
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1013.8x₹879 cr76.9%48.0%0.7x
2026-0914.9x₹879 cr77.0%48.0%0.7x
2026-0833.0x₹431 cr35.5%48.0%0.7x
2026-0743.6x₹431 cr35.5%48.0%0.7x
2026-0641.1x₹431 cr35.5%48.0%0.7x
2026-0553.8x₹259 cr33.5%24.0%0.3x
2026-0442.9x₹259 cr33.5%24.0%0.3x
2026-0327.3x₹259 cr33.5%24.0%0.3x
2026-0233.6x₹223 cr34.2%24.0%0.3x
2026-0139.2x₹223 cr34.2%24.0%0.3x
2025-1238.0x₹223 cr34.2%24.0%0.3x
2025-1135.1x₹217 cr34.2%24.0%0.3x
2025-1040.3x₹217 cr34.2%24.0%0.3x
2025-0931.6x₹217 cr34.2%24.0%0.3x
2025-0834.5x₹190 cr32.3%24.0%0.3x
2025-0736.5x₹190 cr32.3%24.0%0.3x
2025-0639.6x₹190 cr32.3%24.0%0.3x
2025-05387.2x₹116 cr4.7%-21.0%0.3x
2025-04243.7x₹116 cr4.7%-21.0%0.3x
2025-03259.9x₹116 cr4.7%-21.0%0.3x
2025-02—₹87 cr-10.3%-21.0%0.3x
2025-01—₹87 cr-10.3%-21.0%0.3x
2024-12—₹87 cr-10.3%-21.0%0.3x
2024-11—₹47 cr-21.5%-21.0%0.3x
2024-10—₹47 cr-21.5%-21.0%0.3x
2024-09—₹47 cr-21.5%-21.0%0.3x
2024-08—₹19 cr-26.2%-21.0%0.3x
2024-07—₹19 cr-26.2%-21.0%0.3x
2024-06—₹19 cr-26.2%-21.0%0.3x
2024-05—₹4 cr-24.4%-23.0%0.1x
2024-04—₹4 cr-24.4%-23.0%0.1x
2024-03—₹4 cr-24.4%-23.0%0.1x
2024-02—₹4 cr-24.4%-23.0%0.1x
2024-01—₹4 cr-24.4%-23.0%0.1x
2023-12—₹4 cr-24.4%-23.0%0.1x
2023-11—₹4 cr-24.4%-23.0%0.1x
2023-10—₹4 cr-24.4%-23.0%0.1x
2023-09—₹4 cr-24.4%-23.0%0.1x
2023-08—₹4 cr-24.4%-23.0%0.1x
2023-07—₹4 cr-24.4%-23.0%0.1x
2023-06—₹4 cr-24.4%-23.0%0.1x
2023-05—₹7 cr-35.4%-13.0%0.4x
2023-04—₹7 cr-35.4%-13.0%0.4x
2023-03—₹7 cr-35.4%-13.0%0.4x
2023-02—₹7 cr-35.4%-13.0%0.4x
2023-01—₹7 cr-35.4%-13.0%0.4x
2022-12—₹7 cr-35.4%-13.0%0.4x
2022-11—₹7 cr-35.4%-13.0%0.4x
2022-10—₹7 cr-35.4%-13.0%0.4x
2022-09—₹7 cr-35.4%-13.0%0.4x
2022-08—₹7 cr-35.4%-13.0%0.4x
2022-07—₹7 cr-35.4%-13.0%0.4x
2022-06—₹7 cr-35.4%-13.0%0.4x
2022-05104.8x₹18 cr3.1%4.0%0.3x
2022-04113.1x₹18 cr3.1%4.0%0.3x
2022-0389.7x₹18 cr3.1%4.0%0.3x
2022-0267.8x₹18 cr3.1%4.0%0.3x
2022-0172.6x₹18 cr3.1%4.0%0.3x
2021-1276.6x₹18 cr3.1%4.0%0.3x
2021-1151.2x₹18 cr3.1%4.0%0.3x
2021-1050.9x₹18 cr3.1%4.0%0.3x
2021-0945.2x₹18 cr3.1%4.0%0.3x
2021-0843.8x₹18 cr3.1%4.0%0.3x
2021-0747.6x₹18 cr3.1%4.0%0.3x
2021-0649.1x₹18 cr3.1%4.0%0.3x
2021-0521.4x₹15 cr5.6%-8.0%0.2x
2021-0415.6x₹15 cr5.6%-8.0%0.2x
2021-0324.3x₹15 cr5.6%-8.0%0.2x
2021-0211.0x₹15 cr5.6%-8.0%0.2x
2021-019.1x₹15 cr5.6%-8.0%0.2x
2020-1210.6x₹15 cr5.6%-8.0%0.2x
2020-118.4x₹15 cr5.6%-8.0%0.2x
2020-106.3x₹15 cr5.6%-8.0%0.2x
2020-096.8x₹15 cr5.6%-8.0%0.2x
2020-087.1x₹15 cr5.6%-8.0%0.2x
2020-076.1x₹15 cr5.6%-8.0%0.2x
2020-066.5x₹15 cr5.6%-8.0%0.2x
2020-05—₹8 cr-38.2%-15.0%0.4x
2020-04—₹8 cr-38.2%-15.0%0.4x
2020-03—₹8 cr-38.2%-15.0%0.4x
2020-02—₹8 cr-38.2%-15.0%0.4x
2020-01—₹8 cr-38.2%-15.0%0.4x
2019-12—₹8 cr-38.2%-15.0%0.4x
2019-11—₹8 cr-38.2%-15.0%0.4x
2019-10—₹8 cr-38.2%-15.0%0.4x
2019-09—₹8 cr-38.2%-15.0%0.4x
2019-08—₹8 cr-38.2%-15.0%0.4x
2019-07—₹8 cr-38.2%-15.0%0.4x
2019-06—₹8 cr-38.2%-15.0%0.4x
2019-05—₹13 cr-19.7%-12.0%0.3x
2019-04—₹13 cr-19.7%-12.0%0.3x
2019-03—₹13 cr-19.7%-12.0%0.3x
2019-02—₹13 cr-19.7%-12.0%0.3x

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

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