Kernex Microsystems JV gets LoA for Kavach order worth Rs. 311 Cr

Kernex Microsystems (India) announced that the "Southern Railways, Chennai" has issued a letter of Acceptances (LOA) to KERNEX- VRRC CONSORTIUM for the
projects:

l. Provision of Kavach (Train Collision Avoidance System), in MAS-GDR, MAS-AJJ, AJJ-RU, Sections of Chennai Division in Southern Railway for Rs. 173.11 Crores(Inc!. GST@18%).

2. Provision of Kavach (Train Collision Avoidance System) along with Tower and 48 Fiber OFC as back bone network in ARAKKONAM (AJJ IN)-JOLARPETTAI (JTJ IN) Section of Chennai Division in Southern Railway for Rs. 137.92 Crores (Inc!. GST@18%).

The Company is partner of the said Joint Venture with a share of 60%.

The accepted Bid costs for the projects are Rs. 311.03 Crores (lnc!. GST@J8%)

The Completion period is 730 days and 540 days from the date of LoA.

At 1.48 pm, Kernex Microsystems was trading at Rs. 1,297.40, up by 4.73%, with a volume of 0.29 lakh shares on the BSE.