KERNEX MICROSYS(I) Share price

Our HistoryOur company was incorporated on September 16 1991 as a private limited company with the object of designing developing installing and maintaining software packages for domestic and international markets. We are registered as 100% Export Oriented Unit (EOU) with Software Technology Parks of India Department of Electronics Govt. of India New Delhi.We developed and exported software packages from 1993 to 2003 namely "Mimex" for GUI application LearnX a self learning tool ELX Flicker MathX EzEc Builder Netcare E-DOCS etc. With E-DOCS we provided powerful extensible and affordable document management and imaging solutions to companies and organizations looking to reduce their dependence on paper distributed information more efficiently and assist collaboration among users. MathX was an interactive mathematical wizard on MS-Windows NT and 95 for evaluating complete expressions and solving intricate equations. It provided an easy to use interface to combine equations graphics and text in single/multiple documents. EzEc Builder package was an integrated Electronic Commerce Tool to create and maintain supermarkets on Internet. It provided aBackOffice administration and an extensive set of canned reports. A virtual ERP with all facets of electronics commerce inventory control financial accounting and customer management. Our turnover increased from Rs. 4.5 Million to Rs. 78 Million during fiscal year 1993 to 2003. In the domestic market we also developed Intelligent Data Acquisition System and installed on Konkan Railways in 53 stations from 1997 to 1999.We started developing Railway Safety systems from 1999 and successfully developed and demonstrated a prototype of ACDs to Konkan Railway Corporation Limited and Members of the Railway Safety Board. In March 2000 we entered into a Memorandum of Understanding with KRCL for Technical Collaboration for developing full scale networked Anti-Collision Systems (ACDs). We jointly with KRCL took up an intensive analysis of the major accidents that occurred in India The functional requirements of the clients and operational safety procedures have been fully considered for designing the logics of Anti Collision Systems. Based on theconcept and domain knowledge provided by Konkan Railway Corporation Ltd we developed the networked Anti-Collision Devices using Global Positioning System Radio Data Communication Application Logics and Inter facing these with an Auto Breaking System developed by KRCL.The product has been successfully developed for deployment after initial and extended field trials on the Amritsar- Jalandhar Section of Northern Railway using 125 ACDs of different types during July 2002 to January 2003. The product underwent improvements and series of successful trials over a period of 3 years. Consequent to an agreement in the year 2003 with KRCL we became the exclusive manufactures and suppliers of these systems to KRCL including installation and maintenance. On January 20 2004 the then Honorable Railway Minister launched the project at Kishangunj Bihar on a 1730 KMs rail route on the Northeast Frontier Railway route.We also developed ADDs for Metro Sky-Bus System during 2003 - 04 under technology partnership with KRCL. We have also been carrying out research and development work on Advanced Railway Signal Systems on cost sharing basis with KRCL.Major eventsDATE EVENTSeptember 1991 Incorporated on September 16 1991.March 1992 Software "Mimex" for GUI application developedMarch 1993 Exported "Mimex" and developed product like learnX Flicker MathX March 1995 Exported software MathXSeptember 1996 Business Relationship with KRCL began by supplying Intelligent Data Acquisition Systems for centrally monitoring arrival and departure timings of trains at each stationsOctober 1996 Started Oracle Financial Training Center at HyderabadMay 1997 Started Oracle Financial Training Center at BangaloreJune 1998 Successful completion of commissioning the Intelligent Data Acquisition Systems at 49 stations of Konkan Railway ProjectsOctober 1999 Prototype ACDs developed and demonstrated to KRCLDecember 1999 Prototype ACD demonstrated to Minister of Railways GoIMarch 2000 Successful completion of first phase trials of ACDs and supply of ten units to KRCL. March 2000 MoU with Konkan Railways Corporation Ltd as technology partner for ACDs design and development signed. September 2000 Set up a 100% subsidiary in US on September 25 2000.April 2002 Second Phase of ACDs trials with KRCL and receipt of purchase order for manufacturing supply and installation of 120 ACDs undertaken.June 2002 toJanuary 2003 Participated in the Networked ACD field trials in Northern Railway on Jalandhar-Amritsar sectionJune 2002 IS/ISO 9001:2000 Certification from Lloyd's Registry Quality Assurance obtained. February 2003 Agreement with KRCL for manufacturing installation commissioning and maintenance of ACDs signed.April 2003 Started working on SATDHAM safety system in partnership with KRCL November 2003 Development of ADDs related software's and station consoles for metro sky bus system for KRCL taken up.January 2004 Commenced work on ACD deployment in North Frontier RailwayFebruary 2004 We moved in to our own building of 44000 sq.ft floor area at Hi - Tech City Madhapur Hyderabad - 500 081March 2004 Manufacturing facility for ACDs with an annual capacity of 4200 was established at our new premisesMarch 2004 Commenced work on ACD deployment in Konkan Railways and deployment completed in July 2004.October 2004 Entered into agreement with KRCL for providing "Outsourced Manufacturing Facility" for manufacturing ACDsNovember 2004 Live trials on Metro Sky-bus System with ADDs completedJune 2005 MOU signed with KRCL as a technology partner of Metro Sky Bus System to provide ADDs Station Controllers and Related Application Software.