KRN Heat Exchanger and Refrigeration Limited share price
KRN Heat Exchanger and Refrigeration Limited manufactures and sells heating ventilation and air conditioning (HVAC) parts and accessories in India and internationally. It offers condenser, chilled water, evaporator, floating type, fluid and steam, heating, sea water, and Ss coils; charge air, combi oil, converter offline oil, oil, transformer oil, water coolers, and radiators; refrigerator components, such as frost free evaporator, skin condenser, roll bond evaporator, wire on tube condenser, and aluminum tube; and complete HVAC systems, including adiabatic coolers, dry coolers, and LT-HT remote radiators. The company also provides micro channels, bus AC, and technical tubes; air cooling un…Read more
- Market Cap₹ 7,460 Cr.
- Current Price₹ 1,139.60
- High / Low₹ 1,687 / 590
- Stock P/E73.5
- Book Value₹ 92
- Dividend Yield0.00 %
- ROCE17.8 %
- ROE14.30 %
- Face Value₹ 10.0
More figures (10)
- EPS (TTM)₹ 15.50
- Price / Book12.37
- OPM16.1 %
- Debt / Equity0.33
- Sales growth (3Y)34.4 %
- Profit growth (3Y)33.3 %
- Promoter holding68.5 %
- EV / EBITDA51.3
- Beta0.79
- All-time high₹ 1,687
Price chart
| Returns | 1M | 3M | 6M | YTD | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| KRN | -20.77% | -11.70% | -5.46% | +56.64% | +36.20% | — | — |
| Nifty 50 | -0.31% | -3.85% | -4.34% | -11.42% | -9.53% | +5.46% | +4.76% |
Price returns only (dividends not included). Prices from NSE via Yahoo Finance; may be delayed.
Quick take
- KRN Heat Exchanger and Refrigeration Limited is in the Electronic Components industry (Technology), with a market value of ₹7,460 crore.
- It trades at 73.5 times its last 12 months' earnings and 12.4 times book value.
- Revenue grew 34.4% a year over the last 3 years, profit 33.3% a year.
- Return on equity was 14.3% and return on capital employed 17.8% in the latest year.
- Debt was 0.33 times shareholders' equity.
- The share price is 32.5% below its 52-week high and up 36.2% over one year.
- Promoters and insiders hold about 68.5%; institutions about 8.2%.
Pros
AI- Strong return on equity: 24.2% on average over the last 3 years.
- Latest quarter (Jun 2026): sales up 119% and profit up 165% from a year ago.
- Trades at 73.5 times earnings, below its 3-year median of 104.6.
- Borrowings are moderate at 0.33 times shareholders' equity.
- Institutional (FII + DII) holding has risen by 5.5 points over 9 quarters.
Cons
AI- Promoter holding has fallen by 5.10 points over 9 quarters, to 65.69%.
- Trades at 12.4 times its book value.
- The company has not paid a dividend recently.
Pros and cons are generated automatically from the reported figures. They are observations, not a recommendation to buy or sell.
AI analysis
Plenitude AI reads the figures on this page and explains them in plain language. It does not say whether to buy or sell.
About KRN Heat Exchanger and Refrigeration Limited
KRN Heat Exchanger and Refrigeration Limited manufactures and sells heating ventilation and air conditioning (HVAC) parts and accessories in India and internationally. It offers condenser, chilled water, evaporator, floating type, fluid and steam, heating, sea water, and Ss coils; charge air, combi oil, converter offline oil, oil, transformer oil, water coolers, and radiators; refrigerator components, such as frost free evaporator, skin condenser, roll bond evaporator, wire on tube condenser, and aluminum tube; and complete HVAC systems, including adiabatic coolers, dry coolers, and LT-HT remote radiators. The company also provides micro channels, bus AC, and technical tubes; air cooling units, out door units, ammonia evaporator, and blast freezers; sheet metals comprising fabrication and powder coated parts, sheet metal components, and SS components; and tubings which include tubing/pi…
- Employees
- 574
- Head office
- Neemrana
- NSE industry
- Capital Goods
Peer comparison
TechnologyCapital GoodsElectronic Components
Part ofNifty Microcap 250
| S.No. | Company | CMP ₹ | P/E | Mar Cap ₹ Cr | Div Yld % | NP Qtr ₹ Cr | Qtr Profit Var % | Sales Qtr ₹ Cr | Qtr Sales Var % | ROCE % | ROE % | P/B | OPM % | Debt / Eq | Prom. Hold. % | Sales ₹ Cr | Sales Var 3Yrs % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | KRN Heat Exchanger and Refrigeration | 1,139.60 | 73.5 | 7,460 | 0.00 | 33 | 164.84 | 252 | 118.87 | 17.8 | 14.3 | 12.37 | 16.1 | 0.33 | 68.49 | 600 | 34.4 |
| 2. | Syrma SGS Technology | 1,604.60 | 83.4 | 30,909 | 0.09 | 100 | 101.19 | 1,589 | 68.29 | 14.7 | 13.8 | 10.72 | 10.6 | 0.14 | 59.61 | 4,705 | 32.8 |
| 3. | Kaynes Technology India | 3,281.00 | 64.0 | 22,056 | 0.00 | 56 | -51.44 | 946 | -3.91 | 12.0 | 9.6 | 4.73 | 13.1 | 0.19 | 54.91 | 3,626 | 47.7 |
| 4. | PG Electroplast | 521.05 | 72.9 | 14,928 | 0.05 | 76 | 13.78 | 2,034 | 35.25 | 8.7 | 6.7 | 4.88 | 6.6 | 0.20 | 45.07 | 5,105 | 33.8 |
| 5. | Avalon Technologies | 1,987.30 | 99.7 | 13,292 | 0.00 | 35 | 145.31 | 484 | 49.83 | 21.7 | 16.9 | 18.40 | 8.8 | 0.28 | 54.40 | 1,599 | 19.3 |
| 6. | Centum Electronics | 4,026.20 | 370.4 | 5,943 | 0.13 | 106 | 2,238.73 | 203 | 14.42 | 37.9 | -12.5 | 17.29 | 13.4 | 0.36 | 49.91 | 950 | 2.4 |
| Median: 6 Co. | 1,795.95 | 78.5 | 14,110 | 0.03 | 66 | 123.25 | 715 | 42.54 | 16.3 | 11.7 | 11.55 | 11.9 | 0.24 | 54.66 | 2,613 | 33.3 |
Companies in the same industry; the median covers every company in it that we hold figures for. Tap a heading to sort. Sorting and comparing are ways to explore data, not recommendations.
Quarterly Results
Consolidated figures in ₹ croreStandalone figures in ₹ crore /
Source: the company's results filed with NSE, as reported. Tap a row marked + for its breakdown. Latest quarter on the right.
Profit & Loss
Consolidated figures in ₹ croreStandalone figures in ₹ crore /
Projection — your assumptions
Starts from the last four reported quarters (TTM) and applies the figures you enter; growth is pre-filled with the company's own past sales growth. This is a what-if calculator for illustration, not a forecast, estimate or recommendation.
Related party transactions
Related-party transactions are dealings with promoters, directors, subsidiaries and associates. Companies disclose them to the exchanges every half-year and in detail in the notes to their annual report.
No separate related-party filing among the recent announcements of the company.
Full details: notes to the Financial Year 2026 annual report (related party disclosures).
| ₹ Cr | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|
| 430 | 600 | 737 | |
| YOY Sales Growth % | 39.60% | ||
| 359 | 488 | 593 | |
| Material Cost % | 74% | 69% | 67% |
| Employee Cost % | 5% | 7% | 7% |
| Other Expenses % | 4% | 6% | 6% |
| Operating Profit | 71 | 112 | 144 |
| OPM % | 16% | 19% | 20% |
| 12 | 10 | 9 | |
| Exceptional items | 0 | 0 | |
| Interest | 3 | 6 | 8 |
| Depreciation | 5 | 19 | 23 |
| Profit before tax | 74 | 98 | 122 |
| 29% | 22% | 21% | |
| Current tax | 22 | 21 | |
| Deferred tax | -0 | 1 | |
| 53 | 76 | 97 | |
| Profit to shareholders | 76 | 97 | |
| YOY Profit Growth % | 44.62% | ||
| EPS in Rs | 0.00 | 12.30 | 15.50 |
Compounded Sales Growth
- TTM:
- 64%
Compounded Profit Growth
- TTM:
- 82%
Stock Price CAGR
- 1 Year:
- 36%
Return on Equity
- 4 Years:
- 32%
- Last Year:
- 14%
| ₹ Cr | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|
| 431 | 676 | 744 | |
| YOY Sales Growth % | 56.83% | ||
| 360 | 591 | 654 | |
| Material Cost % | 75% | 82% | 83% |
| Employee Cost % | 4% | 3% | 2% |
| Other Expenses % | 4% | 3% | 3% |
| Operating Profit | 71 | 85 | 90 |
| OPM % | 16% | 13% | 12% |
| 7 | 14 | 13 | |
| Exceptional items | 0 | 0 | |
| Interest | 3 | 4 | 5 |
| Depreciation | 4 | 3 | 3 |
| Profit before tax | 71 | 92 | 96 |
| 30% | 22% | 22% | |
| Current tax | 22 | 21 | |
| Deferred tax | -1 | -1 | |
| 50 | 71 | 74 | |
| YOY Profit Growth % | 42.11% | ||
| EPS in Rs | 9.25 | 11.47 | 11.90 |
Compounded Sales Growth
- TTM:
- 66%
Compounded Profit Growth
- TTM:
- 37%
Stock Price CAGR
- 1 Year:
- 36%
Return on Equity
- 4 Years:
- 32%
- Last Year:
- 14%
Financial years ending March; TTM = the last four quarters. Source: the company's results filed with NSE, as reported. Tap a row marked + for its breakdown. Dividend payout = dividends paid in the year ÷ net profit.
Balance Sheet
Consolidated figures in ₹ crore, as at 31 March
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 44 | 46 | 62 | 62 |
| Reserves | 16 | 84 | 436 | 512 |
| 37 | 87 | 33 | 187 | |
| Long term borrowings | 17 | 8 | 1 | 0 |
| Short term borrowings | 20 | 52 | 32 | 187 |
| 53 | 40 | 63 | 171 | |
| Trade payables | 49 | 37 | 55 | 158 |
| Minority interest | 0 | |||
| Current liabilities | 72 | 102 | 94 | 356 |
| Total Liabilities | 149 | 257 | 595 | 932 |
| 32 | 86 | 167 | 346 | |
| Gross block | 41 | 99 | 185 | 382 |
| Accumulated depreciation | 9 | 13 | 18 | 36 |
| Goodwill & intangibles | 0 | 1 | ||
| CWIP | 0 | 4 | 82 | 33 |
| 116 | 167 | 346 | 552 | |
| Inventories | 55 | 84 | 96 | 273 |
| Trade receivables | 39 | 52 | 93 | 175 |
| Cash & equivalents | 7 | 10 | 10 | 10 |
| Current assets | 116 | 170 | 426 | 583 |
| Total Assets | 149 | 257 | 595 | 932 |
Source: Yahoo Finance (compiled from the annual reports). Tap a row marked + for its breakdown.
Cash Flows
Consolidated figures in ₹ crore, financial years ending March
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 5 | 17 | 21 | -114 | |
| Profit for the year | 32 | 39 | 53 | 76 |
| Working capital changes | -33 | -34 | -34 | -211 |
| Direct taxes paid | -13 | -15 | -22 | -21 |
| -14 | -64 | -279 | -34 | |
| Fixed assets purchased | -14 | -70 | -151 | -248 |
| Fixed assets sold | 3 | 0 | 104 | |
| 11 | 50 | 258 | 148 | |
| Repayment of borrowings | -6 | -7 | -1 | |
| Interest paid | -3 | -4 | -3 | -6 |
| Net Cash Flow | 2 | 3 | -0 | -0 |
| Free Cash Flow | -9 | -53 | -130 | -361 |
Free cash flow = cash from operations − capital expenditure. Source: Yahoo Finance.
Ratios
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| ROE | 54.2% | 41.5% | 16.8% | 14.3% |
| ROCE | 62.4% | 37.7% | 15.4% | 17.8% |
| Operating margin | 19.1% | 18.1% | 15.8% | 16.1% |
| Net margin | 13.1% | 12.8% | 12.3% | 12.7% |
| Debt / equity | 0.62 | 0.67 | 0.07 | 0.33 |
| Current ratio | 1.61 | 1.66 | 4.52 | 1.64 |
| Debtor days | 57 | 62 | 79 | 106 |
| Inventory days | 109 | 135 | 107 | 234 |
| Days payable | 98 | 59 | 62 | 136 |
| Cash conversion cycle | 68 | 138 | 124 | 204 |
| Working capital days | 65 | 80 | 282 | 138 |
Computed from the reported statements: ROE on average equity; ROCE = EBIT / (total assets − current liabilities). Debtor days = receivables ÷ sales × 365; inventory and payable days use cost of goods sold; cash conversion cycle = debtor + inventory − payable days; working capital days = (current assets − current liabilities) ÷ sales × 365.
Shareholding Pattern
Numbers in percentages · as filed with NSE each quarter
- Promoters 65.69%
- FIIs 8.98%
- DIIs 7.98%
- Public 17.35%
| % | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Promoters | 70.79% | 70.79% | 70.79% | 70.79% | 70.79% | 69.62% | 70.79% | 65.69% | 65.69% |
| 4.05% | 1.98% | 1.21% | 2.35% | 5.46% | 5.21% | 6.67% | 8.86% | 8.98% | |
| Foreign portfolio investors (Cat. I) | 4.04% | 1.98% | 1.21% | 2.31% | 5.18% | 5.00% | 6.05% | 7.80% | 7.57% |
| Foreign portfolio investors (Cat. II) | 0.01% | 0.04% | 0.28% | 0.21% | 0.61% | 1.06% | 1.41% | ||
| 7.46% | 8.18% | 6.28% | 6.07% | 6.21% | 6.25% | 6.39% | 8.33% | 7.98% | |
| Mutual funds | 1.83% | 3.05% | 2.17% | 2.02% | 2.24% | 2.26% | 2.42% | 3.13% | 3.35% |
| Insurance companies | 0.12% | 0.04% | 0.21% | ||||||
| Banks | 1.82% | ||||||||
| Alternative investment funds | 3.51% | 5.13% | 4.11% | 4.04% | 3.97% | 3.99% | 3.97% | 5.16% | 4.42% |
| 17.69% | 19.05% | 21.72% | 20.80% | 17.54% | 18.92% | 16.16% | 17.12% | 17.35% | |
| Retail (up to ₹2 lakh) | 13.32% | 10.55% | 13.62% | 12.64% | 10.65% | 11.16% | 10.58% | 10.35% | 10.63% |
| HNIs (above ₹2 lakh) | 2.60% | 5.04% | 5.11% | 5.45% | 4.63% | 3.50% | 3.29% | 3.45% | 3.62% |
| NRIs | 0.02% | 0.31% | 0.63% | 0.45% | 0.44% | 0.49% | 0.58% | 0.51% | 0.55% |
| Bodies corporate | 1.09% | 2.35% | 1.64% | 1.64% | 1.36% | 1.65% | 1.33% | 1.88% | 1.53% |
| No. of Shareholders | 87,558 | 73,898 | 85,306 | 82,769 | 75,244 | 83,766 | 83,713 | 91,234 | 97,166 |
Source: shareholding patterns filed by the company with NSE. Public = non-institutional holders. Tap a row marked + for its breakdown.
Mutual funds & institutions holding KRN Heat Exchanger and Refrigeration
| Holder (above 1%) | Stake |
|---|---|
| WhiteOak Capital Special Opportunities FundMutual fund | 2.12% |
| Vq Fastercap FundAIF | 1.74% |
As named in the shareholding pattern for Sep 2026 filed with NSE; mutual funds together hold 3.35% of the company. Shareholders below 1% are not named in the filing.
Documents
Announcements
- Certificate under SEBI (Depositories and Participants) Regulations, 2018KRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 201806-Oct-2026
- Trading WindowKRN Heat Exchanger and Refrigeration Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 201526-Sep-2026
- Shareholders meetingKRN Heat Exchanger and Refrigeration Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 25, 2026. Further, the company has in…26-Sep-2026
- Shareholders meetingKRN Heat Exchanger and Refrigeration Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 25, 202625-Sep-2026
- Copy of Newspaper PublicationKRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Copy of Newspaper Publication03-Sep-2026
- Shareholders meetingKRN Heat Exchanger and Refrigeration Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 25, 202602-Sep-2026
- Copy of Newspaper PublicationKRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Copy of Newspaper Publication02-Sep-2026
- Copy of Newspaper PublicationKRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Copy of Newspaper Publication13-Aug-2026
- Press ReleaseKRN Heat Exchanger and Refrigeration Limited has informed the Exchange regarding a press release dated August 13, 2026, titled "Press Release".13-Aug-2026
- Monitoring Agency ReportMonitoringAgency appointed in respect of utilization of proceeds of the through Qualified InstitutionalPlacement ( QIP ) Issue of the Company12-Aug-2026
- Monitoring Agency ReportMonitoringAgency appointed in respect of utilization of proceeds of the Initial Public Offer (IPO) of theCompany.12-Aug-2026
- Statement of deviation(s) or variation(s) under Reg. 32KRN Heat Exchanger and Refrigeration Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 3212-Aug-2026
Annual reports
Credit ratings
Concalls & investor meets
- Analysts/Institutional Investor Meet/Con. Call UpdatesKRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Schedule of meet24-Sep-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesKRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Schedule of meet18-Aug-2026
- Investor PresentationKRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Investor Presentation13-Aug-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesKRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Schedule of meet03-Jun-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesKRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Schedule of meet03-Jun-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesKRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Schedule of meet27-May-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesKRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Transcript20-May-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesKRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Schedule of meet17-May-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesKRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Link of Recording16-May-2026
- Investor PresentationKRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Investor Presentation15-May-2026
Filings made by the company with NSE; documents open on NSE's website.
Key dates
- Ex-dividend date
- 1 Jan 1970
- Latest quarter
- 30 Jun 2026
- Financial year end
- 31 Mar 2026
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Latest news
In the news
- KRN Heat Exchanger Share Price: Second Straight DeclineUnivest · 16 h ago
- KRN HEAT EXCHANGER AND REFRIGERATION LTD. Share Price Today Down 5%Equitymaster · 16 h ago
- KRN Heat Exchanger Share Price DeclinesKalkine India · 1 d ago
- Zee Business. . जानिए विकास सेठी ने Powerica Ltd और KRN Heat Exchanger and Refrigeration Ltd को क्यों चुना आपके मुनाफे के लिए? #StockMarketFacebook · 4 d ago
- KRN Share Price rises 5%: price action, valuationUnivest · 6 Oct 2026
- KRN Heat Exchanger vs Nifty 50: Share Price Performance ComparedUnivest · 1 Oct 2026
- KRN Heat Exchanger and Refrigeration Q2 Results: Date, Expectations and Full PreviewUnivest · 18 Sep 2026
From the company (NSE)
- Certificate under SEBI (Depositories and Participants) Regulations, 2018KRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018NSE filing · 06-Oct-2026
- Trading WindowKRN Heat Exchanger and Refrigeration Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015NSE filing · 26-Sep-2026
- Shareholders meetingKRN Heat Exchanger and Refrigeration Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 25, 2026. Further, the company has in…NSE filing · 26-Sep-2026
- Shareholders meetingKRN Heat Exchanger and Refrigeration Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 25, 2026NSE filing · 25-Sep-2026
- Copy of Newspaper PublicationKRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Copy of Newspaper PublicationNSE filing · 03-Sep-2026
- Shareholders meetingKRN Heat Exchanger and Refrigeration Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 25, 2026NSE filing · 02-Sep-2026
- Copy of Newspaper PublicationKRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Copy of Newspaper PublicationNSE filing · 02-Sep-2026
- Copy of Newspaper PublicationKRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Copy of Newspaper PublicationNSE filing · 13-Aug-2026
Headlines from news publishers (via Google News) and the filings of the company with NSE; they open on the source website. Headlines with price targets or buy/sell calls are left out. News is for information only and is not a recommendation.
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