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KRN Heat Exch Refrig share price

KRN Heat Exchanger And Refrigeration Ltd.

NSE: KRN BSE: 544263 SECTOR: Engineering - Industrial Equipments  73.32 K   78   12

857.40
-6.20 (-0.72%)
BSE: Today, 04:01 PM

Price Summary

Today's High

₹ 874.35

Today's Low

₹ 852.75

52 Week High

₹ 1011.6

52 Week Low

₹ 402.4

FinStar

Ownership Stable
Ownership strength is slightly missing the benchmark.
ValuationExpensive
The stock is at a premium valuation at this point.
EfficiencyExcellent
The company knows very well the utilization of its assets.
FinancialsVery Stable
The company possesses stable growth history and manageable debt.
*It is just an analytical rating of the company and not an investment advice.

Company Essentials

Market Cap

5329.31 Cr.

Enterprise Value

5329.05 Cr.

No. of Shares

6.22 Cr.

P/E

98.28

P/B

10.41

Face Value

₹ 10

Div. Yield

0 %

Book Value (TTM)

₹  82.39

CASH

33.73 Cr.

DEBT

33.47 Cr.

Promoter Holding

70.79 %

EPS (TTM)

₹  8.72

Sales Growth

39.89%

ROE

16 %

ROCE

20.72%

Profit Growth

25.8 %

* Total debt includes long term borrowing, short term borrowing plus current maturities of long-term borrowing
* Ratios are based on latest Audited Financial Result.

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Price Chart 1d 1w 1m 3m 6m 1Yr 3Yr 5Yr

 

Volume Chart 1d 1w 1m 3m 6m 1Yr 3Yr 5Yr

* Prices are based on daily market changes.
* The chart is based on the standalone earnings of the company. * Negative values and values more than 1000x in PE chart is considered 0.

Peer Comparison

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* The Peers list includes companies operating in the same industry and having comparable market cap.

 Group Companies

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Ratios

Sales Growth

1 Year39.89%
3 Year40.31%
5 YearNA

Profit Growth

1 Year25.8%
3 Year67.95%
5 YearNA

ROE%

1 Year16%
3 Year44.62%
5 Year41.52%

ROCE %

1 Year20.72%
3 Year43.44%
5 Year37.75%

Debt/Equity

0.0674

Price to Cash Flow

277.85

Interest Cover Ratio

22.0185

CFO/PAT (5 Yr. Avg.)

0.132294412570424

Shareholding Pattern

Promoter Pledging %

Date Promoter % Pledge %
Jun 2025 70.79 0.00
Mar 2025 70.79 0.00
Dec 2024 70.79 0.00
Sep 2024 70.79 0.00
Investors List
* Figures given above are % of equity capital

 Strengths

  • The company has shown a good profit growth of 67.9540645488991% for the Past 3 years.
  • The company has shown a good revenue growth of 40.3051077896257% for the Past 3 years.
  • The company has significantly decreased its debt by 26.2221 Cr.
  • Company has been maintaining healthy ROE of 44.6156666666667% over the past 3 years.
  • Company has been maintaining healthy ROCE of 43.4429% over the past 3 years.
  • Company is virtually debt free.
  • Company has a healthy Interest coverage ratio of 22.0185.
  • The company has an efficient Cash Conversion Cycle of 87.3553 days.
  • Company has a healthy liquidity position with current ratio of 3.4344.
  • The company has a high promoter holding of 70.79%.

 Limitations

  • The company is trading at a high PE of 98.28.
  • The company is trading at a high EV/EBITDA of 64.6071.

Quarterly Result (All Figures in Cr.)

PARTICULARS Sep 2024 Dec 2024 Mar 2025 Jun 2025
Net Sales 98.94 103.95 130.84 114.4
Total Expenditure 81.38 87.81 110.6 94.61
Operating Profit 17.56 16.14 20.25 19.79
Other Income 1.54 3.15 1.32 2.74
Interest 1.1 0.36 0.91 0.63
Depreciation 0.92 0.93 0.9 0.94
Exceptional Items 0 0 0 0
Profit Before Tax 17.08 18 19.75 20.96
Tax 4.98 5.31 6 5.28
Profit After Tax 12.1 12.69 13.75 15.69
Adjusted EPS (Rs) 1.95 2.04 2.21 2.52

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Net Sales 75.82 156.11 247.48 308.24 431.19
Total Expenditure 70.4 139.18 198.16 249.31 360.18
Operating Profit 5.43 16.94 49.32 58.92 71.01
Other Income 0.99 2.11 2.4 5.36 7.28
Interest 1.28 1.54 3.05 3.98 3.39
Depreciation 1.73 2.54 3.17 3.92 3.65
Exceptional Items 0 0 0 0 0
Profit Before Tax 3.4 14.97 45.5 56.39 71.24
Tax 0.94 4.38 13.18 16.51 21.07
Net Profit 2.47 10.59 32.31 39.88 50.17
Adjusted EPS (Rs.) 0.56 2.41 7.34 8.65 8.07

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity and Liabilities
Share Capital 4.4 4.4 44 46.14 62.16
Total Reserves 8.66 21.13 15.57 84.64 434.29
Borrowings 10.79 11.01 16.54 7.97 1.43
Other N/C liabilities 0.47 0.61 0.64 0.77 0.45
Current liabilities 28.08 55.64 72.01 90.15 90.77
Total Liabilities 52.4 92.79 148.76 229.67 589.09
Assets
Net Block 21.28 21.32 32.15 26.95 25.81
Capital WIP 0 0 0 0.51 0
Intangible WIP 0 0 0 0 0
Investments 0 0 0 5 250.67
Loans & Advances 0.05 0.16 0.16 0.19 0.19
Other N/C Assets 0 0.34 0.68 0.68 0.68
Current Assets 31.06 70.98 115.77 196.34 311.75
Total Assets 52.4 92.79 148.76 229.67 589.09
* Other Non-current Liabilities include Net deferred Liabilities

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Profit from operations 3.4 14.97 45.5 56.39 71.24
Adjustment 3.11 3.78 5.87 10.19 5.84
Changes in Assets & Liabilities -7.07 -9.93 -33.04 -61.22 -37.17
Tax Paid -0.77 -4.34 -13.26 -14.86 -20.73
Operating Cash Flow -1.33 4.48 5.07 -9.49 19.18
Investing Cash Flow -12.97 -2.72 -13.99 -1.32 -272.37
Financing Cash Flow 9.37 3.38 11.01 13.51 243.81
Net Cash Flow -4.92 5.15 2.1 2.7 -9.38

Corporate Actions

Investors Details

PARTICULARS Sep 2024% Dec 2024% Mar 2025% Jun 2025%
promoters 70.79 70.79 70.79 70.79
anju devi 38.13 38.13 - 38.13
santosh kumar yadav 32.66 32.66 32.66 32.66
anju devi - - 38.13 -
PARTICULARS Sep 2024% Dec 2024% Mar 2025% Jun 2025%
investors 29.21 29.21 29.21 29.21
holani venture capital fu... - - 1.61 1.63
mukul mahavir agrawal - 1.61 1.61 1.61
sathyamoorthi devarajulu - - - 1.01
vq fastercap fund - 1.17 1.17 1.17
whiteoak capital special ... - 2.30 1.41 1.45
holani venture capital fu... 1.40 1.53 - -
mint focused growth fund ... 1.02 - - -

Annual Reports

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Ratings & Research Reports

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Concalls & Presentations

TYPE QUARTER Link
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Concall Q3FY25
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Presentation Q4FY25
Presentation Q4FY25
Presentation Q3FY25

Company News

KRN Heat Exch Refrig - Quaterly Results 31 Jul, 5:28 PM KRN Heat Exch Refrig - Quaterly Results 31 Jul, 5:28 PM KRN Heat Exch Refrig - Quaterly Results 31 Jul, 5:28 PM KRN Heat Exchanger and Refrigeration informs about outcome of investor meetings 24 Jun, 9:39 AM KRN Heat Exchanger and Refrigeration informs about analyst meet 18 Jun, 5:11 PM KRN Heat Exchanger And Refrigeration informs about change in directorate 18 Jun, 1:52 PM KRN Heat Exchanger’s arm commences commercial production in Rajasthan facility 31 May, 4:28 PM KRN Heat Exch Refrig - Quaterly Results 12 May, 2:47 PM KRN Heat Exch Refrig - Quaterly Results 12 May, 2:47 PM KRN Heat Exch Refrig - Quaterly Results 12 May, 2:47 PM KRN Heat Exchanger and Refrigeration informs about board meeting 5 May, 5:05 PM KRN Heat Exchanger’s arm secures Indian Railways Vendor Approval 25 Mar, 12:40 PM KRN Heat Exchanger and Refrigeration incorporates subsidiary 28 Feb, 12:52 PM KRN Heat Exchanger and Refrigeration informs about disclosure 20 Feb, 12:40 PM KRN Heat Exchanger and Refrigeration informs about transcript of conference call 7 Feb, 5:23 PM KRN Heat Exchanger and Refrigeration reports 74% rise in Q3 consolidated net profit 28 Jan, 2:59 PM KRN Heat Exch Refrig - Quaterly Results 27 Jan, 7:26 PM KRN Heat Exch Refrig - Quaterly Results 27 Jan, 7:26 PM KRN Heat Exch Refrig - Quaterly Results 27 Jan, 7:26 PM KRN Heat Exchanger And Refrigeration informs about clarification 12 Nov, 5:26 PM KRN Heat Exch Refrig - Quaterly Results 30 Oct, 1:04 PM KRN Heat Exch Refrig - Quaterly Results 30 Oct, 1:04 PM KRN Heat Exch Refrig - Quaterly Results 30 Oct, 1:04 PM KRN Heat Exchanger coming with an IPO to raise Rs 342 crore 23 Sep, 5:07 PM

KRN Heat Exch Refrig Stock Price Analysis and Quick Research Report. Is KRN Heat Exch Refrig an attractive stock to invest in?

Stock investing requires careful analysis of financial data to determine a company's true net worth. This is generally done by examining the company's profit and loss account, balance sheet and cash flow statement, which can be time-consuming and cumbersome.

Examining a company's financial ratios is an easier way to determine its performance, which can help to make sense of the overwhelming amount of information in its financial statements. 

Here are a few indispensable ratios that should be a part of every investor’s research process, or, in simpler words, how to analyse KRN Heat Exch Refrig. 

  • PE ratio: Price to Earnings ratio, which indicates how much an investor is willing to pay for a share for every rupee of earnings. A general rule of thumb is that shares trading at a low P/E are undervalued (it depends on other factors too). KRN Heat Exch Refrig has a PE ratio of 98.6268239285674 which is high and comparatively overvalued.

  • Return on Assets (ROA): Return on Assets measures how effectively a company can earn a return on its investment in assets. In other words, ROA shows how efficiently a company can convert the money used to purchase assets into net income or profits. KRN Heat Exch Refrig has ROA of 12.2562% which is a bad sign for future performance. (Higher values are always desirable.)

  • Current ratio: The current ratio measures a company's ability to pay its short-term liabilities with its short-term assets. A higher current ratio is desirable so that the company could be stable to unexpected bumps in business and economy. KRN Heat Exch Refrig has a Current ratio of 3.4344.

  • Return on equity: ROE measures the ability of a firm to generate profits from its shareholders' investments in the company. In other words, the return on equity ratio shows how much profit each rupee of common stockholders’ equity generates. KRN Heat Exch Refrig has a ROE of 15.999%. (Higher is better)

  • Debt to equity ratio: It is a good metric to check out the capital structure along with its performance. KRN Heat Exch Refrig has a Debt to Equity ratio of 0.0674 which means that the company has low proportion of debt in its capital.

  • Sales growth: KRN Heat Exch Refrig has reported revenue growth of 39.8897% which is fair in relation to its growth and performance. 

  • Operating Margin: This will tell you about the operational efficiency of the company. The operating margin of KRN Heat Exch Refrig for the current financial year is 16.4682737087644%.

  • Dividend Yield: It tells us how much dividend we will receive in relation to the price of the stock. The current year dividend for KRN Heat Exch Refrig is Rs 0 and the yield is 0%.

  • Earnings Per Share: It tells us how much profit is allocated to to each outstanding share of a common stock. The latest EPS of KRN Heat Exch Refrig is Rs 8.7243. The higher the EPS, the better it is for investors. 

One can find all the Financial Ratios of KRN Heat Exch Refrig in Ticker for free. Also, one can get the intrinsic value of KRN Heat Exch Refrig by using Valuation Calculators, which are available with a Finology ONE subscription. 

KRN Heat Exch Refrig FAQs

Q1. What is KRN Heat Exch Refrig share price today?
Ans: The current share price of KRN Heat Exch Refrig is Rs 860.45.

Q2. What is the market capitalisation of KRN Heat Exch Refrig?
Ans: KRN Heat Exch Refrig has a market capitalisation of Rs 5348.264647 Cr., calculated based on its latest share price.

Q3. What are the P/E and P/B ratios of KRN Heat Exch Refrig?
Ans: The PE ratio of KRN Heat Exch Refrig is 98.6268239285674 and the P/B ratio of KRN Heat Exch Refrig is 10.443203512907, showing how the stock is valued against its earnings and book value.

Q4. What is the 52-week high and low of KRN Heat Exch Refrig share?
Ans: The 52-week high share price of KRN Heat Exch Refrig is Rs 1012, and the 52-week low share price of KRN Heat Exch Refrig is Rs 402.1.

Q5. Does KRN Heat Exch Refrig pay dividends?
Ans: Currently, KRN Heat Exch Refrig does not pay dividends. Dividend yield of KRN Heat Exch Refrig is around 0%.

Q6. What are the face value and book value of KRN Heat Exch Refrig shares?
Ans: The face value of KRN Heat Exch Refrig shares is Rs 10, while the book value per share of KRN Heat Exch Refrig is around Rs 82.3933. Face value is the nominal value set by the company, whereas book value reflects its accounting worth.

Q7. What is the debt of KRN Heat Exch Refrig?
Ans: KRN Heat Exch Refrig has a total debt of Rs 33.4673 Cr., which affects investor sentiment and financial stability. 

Q8. What are the ROE and ROCE of KRN Heat Exch Refrig?
Ans: The ROE of KRN Heat Exch Refrig is 15.999% and ROCE of KRN Heat Exch Refrig is 20.7202%. ROE shows how efficiently the company is generating profit from shareholders’ equity, while the ROCE is reflects how efficiently the company uses its capital to generate returns.

Q9. Is KRN Heat Exch Refrig a good buy for the long term?
Ans: The KRN Heat Exch Refrig long-term outlook depends on debt levels, earnings growth, and sector trends. If it sustains profits and manages debt well, it may be considered for long-term investment.

Q10. Is KRN Heat Exch Refrig undervalued or overvalued?
Ans: Based on valuation ratios like P/E, P/B, and EV/EBITDA, one can analyse whether the KRN Heat Exch Refrig appears undervalued or overvalued at current levels. You can check detailed valuation metrics and peer comparisons on Finology Ticker.

Q11. How to check KRN Heat Exch Refrig’s financials?
Ans: You can review KRN Heat Exch Refrig’s financial statements - including balance sheet, income statement, and quarterly results - on Finology Ticker.

Last Updated on:
Brief about KRN Heat Exch Refrig

KRN Heat Exchanger Share Price and Business Overview

KRN Heat Exchanger and Refrigeration Limited is a prominent name in the manufacturing and export of high-quality heat exchangers and refrigeration products. Specializing in aluminium/copper fins and copper tube heat exchangers, the company serves a wide spectrum of industries, primarily focusing on Heating, Ventilation, Air Conditioning, and Refrigeration (HVAC&R) sectors.

KRN Heat Exchanger listed recently via IPO with 118.18% listing gain. It is also present in BSE IPO IndexOne can track all the new listed IPOs for free on Ticker. 

Key Highlights:

  • Expertise in customized coils with diverse configurations to ensure optimal performance.
  • Rigorous quality control processes, including Helium Leak Tests, Water Leak Tests, and Burst Pressure Testing to meet international standards.
  • Trusted by renowned clients like Daikin India, Schneider Electric, Voltas, Carrier, and Kirloskar, among others.
  • Advanced manufacturing facility integrated with cutting-edge technology sourced globally.

Business Model of KRN Heat Exchanger

KRN operates on a B2B (Business-to-Business) model, catering to a broad range of industries in India with a versatile product portfolio, including:

  1. Shell and Tube Heat Exchangers

    • Used in sectors like oil & gas, power generation, and petrochemicals.
       
  2. Finned Tube Heat Exchangers

    • Ideal for applications requiring a large surface area, such as refrigeration and air conditioning systems.
       
  3. Plate Heat Exchangers

    • Designed for space-constrained applications like food and beverage processing.
       
  4. Refrigeration Products

    • Includes condensers, evaporators, and cooling towers.

Revenue Segmentation:

  • Evaporator Coils: 37.49%
  • Condenser Coils: 55.24%
  • Other HVAC parts: 7.27%

Industry Overview

Global Heat Exchanger Market

The global heat exchanger industry was valued at USD 16.8 billion in 2023 and has been growing at a CAGR of 6.4% since 2019. This growth is fueled by increasing global demand for sustainable and energy-efficient solutions.

Indian Market Insights

In India, the heat exchanger market reached USD 689 million in 2023, with a CAGR of 10% between 2019 and 2023.

  • Shell & Tube Heat Exchangers dominate the market, accounting for 53% of revenue.
  • Finned Tube Heat Exchangers hold a 21% share.

HVAC Industry Growth

The Indian HVAC market generated a turnover of USD 9.1 billion in 2023 and is expected to grow by 14.5% CAGR to reach USD 20.5 billion by 2029. Increasing residential and industrial applications are driving this growth.

Key Players in the Indian Heat Exchanger Industry

  • Alfa Laval India Private Limited
  • REX Heat Exchanger Private Limited
  • Danfoss Power Solutions India Private Limited
  • Kelvion India Private Limited
  • Prijai Heat Exchanger Private Limited
  • Spirotech Heat Exchangers Private Limited

Strengths of KRN Heat Exchanger

  1. State-of-the-Art Manufacturing Facility: Equipped with modern tools and technologies for precision and efficiency.
  2. Quality Control: Products undergo stringent tests to ensure compliance with international standards.
  3. Consistent Revenue Growth: Achieved 25.46% YoY growth in revenue and 54.52% YoY growth in profit in FY24.
  4. High Capacity Utilization: Operates at 84.7% capacity utilization, ensuring optimized production.

Risk Factors

Internal Risks

  • Customer Dependency: Relies heavily on a single customer (Daikin India), contributing over 33% of annual revenue. Top 10 customers account for over 70% of revenue.
     
  • Import Dependency: Over 78% of raw materials are imported from countries like China, Thailand, and South Korea. Changes in government policies or geopolitical risks may impact operations.

External Risks

  • Inflation: Rising costs could affect profitability.
     
  • Regulatory Changes: Uncertainty in compliance requirements may pose challenges.

Opportunities for KRN Heat Exchanger

  1. HVAC Demand from Infrastructure Expansion

    • Government initiatives like airport infrastructure development worth INR 6,209.2 crores will boost HVAC demand.
    • Increasing building stock in India, projected to grow at a 6.6% CAGR, will further drive demand.
       
  2. Pharmaceutical Sector Growth

    • The Indian pharmaceutical market, growing at a CAGR of 10%, offers significant opportunities for heat exchangers and refrigeration products.
       
  3. Technological Advancements

    • Innovations such as smart heat exchangers and energy-efficient designs will create new business avenues.

Future Outlook

With a strong foothold in the Indian HVAC and heat exchanger market, KRN Heat Exchanger and Refrigeration Limited is well-positioned for growth. The company's focus on quality, customization, and innovation, coupled with its ability to serve a diverse range of industries, makes it a key player in the sector.

Why Monitor KRN Heat Exchanger Share Price?

  • Growing demand in HVAC and pharmaceutical sectors.
  • Continuous innovation in heat exchanger designs.
  • Strong client relationships with leading OEMs.

For investors, KRN Heat Exchanger Share Price reflects the company's growth trajectory, making it a valuable stock to watch in the heat exchanger industry.

KRN Heat Exchanger and Refrigeration Limited has established itself as a trusted manufacturer in the heat exchanger and refrigeration domain. With a growing client base, a focus on quality, and a rising presence in high-demand sectors, the company's future looks promising. Investors keen on long-term growth may consider tracking KRN Heat Exchanger Share Price to capitalize on its potential.

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