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KRN Heat Exchanger and Refrigeration Limited KRN NSETECH

Technology · Electronic Components · India
https://krnheatexchanger.com
Company Profile ↓
₹1,054.60
+16.99% 1Y
Mkt Cap₹6,903.25 Cr
P/E68.04
P/B15.04
52W High₹1,660.20
52W Low₹598.10
Book Value₹92.14
EPS (TTM)₹15.50

Company Overview

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/piping, U- and C- bend, headers, and I-Kit. In addition, it offers precision-engineered evaporator and condenser coils, bar and plate heat exchangers, and bus air-conditioning systems for original equipment manufacturers. The company was incorporated in 2017 and is based in Neemrana, India.

Why Investors Should Care

Healthy Capital Returns

Return on capital employed stands at 17.8%.

Consistent Profit Growth

Net profit has compounded at 33.3% per year over the last five years.

Steady Revenue Expansion

Revenue has grown at a 34.4% CAGR over the past five years.

Healthy Margins

Operating margin of 16.9% supports profitability.

Conservative Balance Sheet

Carries low leverage with a debt-to-equity ratio of 0.33.

Recent Developments

  • Mar 2026 Revenue of ₹600.01 Cr (+39.8% YoY); net profit ₹76.47 Cr.
  • Trailing 12 Months Year-on-year growth — revenue +118.9%, earnings +160.0%.
  • 5-Year Trend Long-term compounding — revenue CAGR 34.4%, profit CAGR 33.3%.

Growth & Price Performance

Compounded Sales Growth

5 Years:34.37%
1 Year:118.90%

Compounded Profit Growth

5 Years:33.26%
1 Year:160.00%

Stock Price Performance

1 Year:+16.99%
6 Months:-20.61%
3 Months:-14.20%
1 Month:-25.55%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

Technical Snapshot Bearish
52-Week Range 43% of range
₹598.10 ₹1,660.20
Trend Signals
  • Price vs 50-DMABelow
  • Price vs 200-DMABelow
  • RSI (14)22.55 · Oversold
Price Performance
1M-25.55%
3M-14.20%
6M-20.61%
1Y+16.99%
Valuation vs Sector

P/E of 68.04 is above the sector median of 24.84 — pricier than peers.

Auto-generated from price history and fundamentals; not investment advice.

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Price Chart

NSE TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Compounding revenue at 34.4% over 5 years.
  • Profit CAGR of 33.3% over 5 years.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

  • Trading at a high P/E of 68.0.
  • Trading 36.5% below its 52-week high.
  • RSI at 23 suggests oversold conditions.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
68.04
Industry PE
24.84
Forward P/E
25.85
PEG Ratio
-
Book Value
₹92.14
Price to Book
15.04
P/S
12.31
EV/EBITDA
63.47
Dividend Yield
0.00%

Growth (CAGR)

Revenue 5Y
34.37%
Profit 5Y
33.26%
Revenue (YoY)
118.90%
Earnings (YoY)
160.00%

Profitability & Returns

ROCE
17.83%
ROE
13.32%
ROA
8.21%
Profit Margin
13.15%
Op Margin
16.88%
Gross Margin
32.56%
EPS (Latest Qtr)
₹5.20
EPS (TTM)
₹15.50

Balance Sheet & Liquidity

Debt/Equity
0.33
Quick Ratio
0.87
Current Ratio
1.64
Debt
₹187.31 Cr
Total Assets
₹931.82 Cr
Current Assets
₹583.13 Cr
Working Capital
₹227.55 Cr

Ownership

Promoter Holding
68.49%
Chg in Prom Hold
-3.94%
FII / Inst Holding
8.08%
Chg in FII Hold
-0.01%

Financial Snapshot

Enterprise Value
₹6,903.25 Cr
Total Revenue (TTM)
₹737.09 Cr
EBITDA
₹143.19 Cr
Free Cash Flow
₹-361.33 Cr
Operating Cash Flow
₹-113.80 Cr
Shares Outstanding
₹6.55 Cr
Gross Margin
32.56%
Payout Ratio
0.00%

Peer comparison

Peer companies in the same sector (Technology).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 KRN KRN Heat Exchanger and Refrigeration Limited NSETECH 1,054.60 68.04 ₹6,903.25 Cr 0.00% 17.83% 13.32% 34.37% 33.26%
2 TCS Tata Consultancy Services Limited NIFTY50NSEAITECH 2,529.00 17.73 ₹9.15 L Cr 3.12% 54.93% 47.74% 5.80% 5.30%
3 INFY Infosys Limited NIFTY50NSEAITECH 1,168.00 15.50 ₹4.73 L Cr 5.02% 41.66% 32.00% 3.44% 3.58%
4 HCLTECH HCL Technologies Limited NIFTY50NSEAITECH 1,424.20 22.16 ₹3.85 L Cr 5.10% 27.21% 24.07% 8.65% 3.87%
5 WIPRO Wipro Limited NIFTY50NSEAITECH 189.17 15.03 ₹1.87 L Cr 5.01% 17.85% 16.13% 0.78% 5.16%
6 TECHM Tech Mahindra Limited NIFTY50NSEAITECH 1,834.70 31.72 ₹1.63 L Cr 3.42% 19.82% 16.24% 2.16% -0.14%
7 LTM LTM Limited NSETECH 4,298.00 24.38 ₹1.27 L Cr 1.92% 25.39% 21.97% 8.43% 4.41%
8 LGEINDIA LG Electronics India Limited NIFTY_MIDNSETECH 1,662.60 61.83 ₹1.13 L Cr 0.00% 27.64% 21.98% 1.25% -
9 PAYTM One97 Communications Limited NIFTY_MIDNSEAITECH 1,670.00 167.33 ₹1.07 L Cr 0.00% 3.68% 3.45% 2.20% 43.71%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in INR.

Metric Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue 71.00 Cr66.00 Cr82.00 Cr96.00 Cr91.00 Cr111.47 Cr131.50 Cr115.28 Cr152.00 Cr153.23 Cr179.48 Cr252.32 Cr
Cost of Revenue -----84.81 Cr98.74 Cr85.72 Cr-100.86 Cr120.92 Cr171.03 Cr
Gross Profit -----26.66 Cr32.76 Cr29.56 Cr-52.37 Cr58.55 Cr81.29 Cr
Operating Expenses 58.00 Cr54.00 Cr64.00 Cr78.00 Cr73.00 Cr12.03 Cr15.05 Cr14.15 Cr122.00 Cr27.05 Cr30.98 Cr38.70 Cr
Operating Income 12.00 Cr11.00 Cr17.00 Cr17.00 Cr17.00 Cr14.62 Cr17.71 Cr15.41 Cr25.00 Cr25.32 Cr27.57 Cr42.59 Cr
EBITDA 13.00 Cr12.00 Cr18.00 Cr18.00 Cr18.00 Cr20.70 Cr23.22 Cr21.17 Cr30.00 Cr33.34 Cr35.46 Cr51.84 Cr
Interest Expense 1.00 Cr1.00 Cr1.00 Cr1.00 Cr1.00 Cr37.60 L92.01 L69.55 L1.00 Cr1.70 Cr2.64 Cr3.04 Cr
Pretax Income 12.00 Cr11.00 Cr17.00 Cr17.00 Cr17.00 Cr19.14 Cr21.12 Cr18.29 Cr27.00 Cr25.87 Cr26.85 Cr42.33 Cr
Tax Provision 3.48 Cr3.19 Cr5.10 Cr4.93 Cr4.93 Cr5.41 Cr6.25 Cr5.87 Cr8.91 Cr3.21 Cr3.49 Cr9.44 Cr
Net Income 9.00 Cr8.00 Cr12.00 Cr12.00 Cr12.00 Cr13.73 Cr14.87 Cr12.42 Cr18.00 Cr22.66 Cr23.36 Cr32.90 Cr
Diluted EPS 1.961.712.612.591.982.122.392.002.903.653.755.20

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue -247.30 Cr308.12 Cr429.16 Cr600.01 Cr
Cost of Revenue -183.68 Cr228.01 Cr327.78 Cr425.37 Cr
Gross Profit -63.62 Cr80.10 Cr101.38 Cr174.65 Cr
Operating Expenses -16.51 Cr24.27 Cr33.72 Cr78.01 Cr
Operating Income -47.11 Cr55.84 Cr67.66 Cr96.63 Cr
EBITDA -51.03 Cr62.55 Cr81.76 Cr121.50 Cr
Interest Expense -2.36 Cr2.63 Cr2.80 Cr4.78 Cr
Pretax Income -45.50 Cr55.93 Cr74.32 Cr97.96 Cr
Tax Provision -13.18 Cr16.54 Cr21.45 Cr21.49 Cr
Net Income -32.31 Cr39.39 Cr52.88 Cr76.47 Cr
Diluted EPS -6.938.459.7512.30

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets -148.76 Cr257.42 Cr595.11 Cr931.82 Cr
Current Assets -115.77 Cr169.78 Cr425.54 Cr583.13 Cr
Cash & Equivalents -7.46 Cr10.31 Cr10.26 Cr9.99 Cr
Inventory -55.08 Cr84.41 Cr95.85 Cr272.91 Cr
Receivables -38.66 Cr52.44 Cr92.96 Cr174.71 Cr
Total Liabilities -89.19 Cr127.14 Cr96.48 Cr357.82 Cr
Current Liabilities -72.01 Cr101.99 Cr94.05 Cr355.58 Cr
Long Term Debt -16.54 Cr7.97 Cr1.43 Cr21.47 L
Total Debt -36.64 Cr86.96 Cr33.47 Cr187.31 Cr
Total Equity -59.57 Cr130.28 Cr498.63 Cr573.99 Cr
Shares Outstanding -6.22 Cr6.22 Cr6.22 Cr6.22 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow 5.07 Cr16.92 Cr21.44 Cr-113.80 Cr
Investing Cash Flow -13.99 Cr-64.17 Cr-279.26 Cr-34.16 Cr
Financing Cash Flow 11.01 Cr50.10 Cr257.77 Cr147.69 Cr
Capital Expenditure -14.00 Cr-69.79 Cr-151.01 Cr-247.53 Cr
Free Cash Flow -8.93 Cr-52.86 Cr-129.56 Cr-361.33 Cr
Net Change in Cash 2.10 Cr2.85 Cr-4.47 L-27.55 L

Ratios (Annual)

Figures in %.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % -25.7%26.0%23.6%29.1%
Operating Margin % -19.1%18.1%15.8%16.1%
Net Margin % -13.1%12.8%12.3%12.7%
ROE % -54.2%30.2%10.6%13.3%
ROCE % -61.4%35.9%13.5%16.8%

Shareholding Pattern

Insiders
68.49%
Institutions
8.08%
Public Float
25.63%

Analyst View

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Latest News

Recent headlines for KRN

Google News ue, 13 Oct 2026

Krones (XTRA:KRN) Stock Fair Value Falls As Analysts Weigh Softer Growth And Margins - Yahoo Finance

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Google News ue, 20 Oct 2026

Mutual funds raise stake in KRN Heat Exchanger; Union MF enters with five schemes - TradingView

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Google News ue, 13 Oct 2026

Mukul Agarwal adds 470% multibagger to Rs 8,000 crore portfolio, trims KRN Heat exposure - The Economic Times

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Google News ue, 02 Jun 2026

KRN Heat Exchanger Raises ₹350 Crore via Qualified Institutions Placement - The Globe and Mail

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Google News Mon, 11 May 2026

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Google News hu, 08 Oct 2026

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KRN — Frequently Asked Questions

What is the current share price of KRN Heat Exchanger and Refrigeration Limited (KRN)?

As of 2026-10-23 04:58 IST, KRN Heat Exchanger and Refrigeration Limited (KRN) trades at ₹1,054.60 on NSE. Its 52-week range is ₹598.10 to ₹1,660.20.

What is the market capitalisation of KRN?

KRN Heat Exchanger and Refrigeration Limited (KRN) has a market capitalisation of ₹6,903.25 Cr on NSE.

What is the P/E ratio of KRN?

KRN trades at a trailing price-to-earnings (P/E) ratio of 68.04. The industry average P/E is 24.84. Its price-to-book (P/B) ratio is 15.04.

What is the return on equity (ROE) of KRN?

KRN has a return on equity (ROE) of 13.32%. Its return on capital employed (ROCE) is 17.83%.

Is KRN a good stock to buy?

This page provides a data-driven analysis of KRN Heat Exchanger and Refrigeration Limited (KRN), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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