KRN Heat Exchanger and Refrigeration
KRN Heat Exchanger and Refrigeration Ltd valuation: P/E, P/B and sector benchmarks.
Twelve years of multiples investors have paid for KRN Heat Exchanger and Refrigeration Ltd, framed against the sector median so the premium or discount is obvious at a glance.
KRN Heat Exchanger and Refrigeration Ltd trades at a P/E of 77.24× and P/B of 8.63×.
Valuation
Profitability
Growth
Financial Health
KRN Heat Exchanger and Refrigeration Ltd financials: P&L, balance sheet, cash flow, ratios.
Twelve years of audited numbers for KRN Heat Exchanger and Refrigeration Ltd, switchable between annual and quarterly views, consolidated or standalone.
KRN Heat Exchanger and Refrigeration Ltd reports its full P&L, balance sheet, cash flow and ratios on this page — current market capitalisation of ₹7,839.19 Cr and reported EPS of ₹9.50.
| Period | 2025 | 2026 |
|---|---|---|
| Revenue from Operations | 430 | 600 |
| Other Income | 12 | 10 |
| Total Income | 442 | 610 |
| Cost of Goods Sold (COGS) | 319 | 412 |
| Gross Profit | 111 | 188 |
| +Operating Expenses | 40 | 76 |
| EBITDA | 71 | 112 |
| +Non-Operating Expenses | 8 | 25 |
| Profit Before Tax (PBT) | 74 | 98 |
| +Tax Expense | 21 | 21 |
| Profit After Tax (PAT) | 53 | 76 |
| Earnings Per Share (EPS) | 8.51 | 12.30 |
| Diluted Shares Outstanding (Nos.) | 6 | 6 |
| +Additional Disclosures | 686 | 924 |
| Sales Growth % | — | 39.60 |
| YoY Sales Growth % | — | 39.60 |
| Material Cost % | 74 | 41 |
| Employee Cost % | 5 | 7 |
| Other Cost % | 4 | 6 |
| OPM % | 16 | 19 |
| Tax % | 29 | 22 |
| Profit Growth % | — | 44.62 |
| Gross Margin % | 0.00 | 0.00 |
| EBITDA Margin % | 0.00 | 0.00 |
| Interest Coverage Ratio | 0.00 | 0.00 |
| Additional Fields | 66 | 94 |
KRN Heat Exchanger and Refrigeration segment analysis: revenue and profit mix.
Disclosed business segments at KRN Heat Exchanger and Refrigeration with their share of revenue and profit, switchable between consolidated and standalone reporting.
KRN Heat Exchanger and Refrigeration discloses revenue and profit across multiple business segments — toggle between consolidated and standalone views to see the mix.
Segment-wise Financial Analysis
KRN Heat Exchanger and Refrigeration Ltd investment thesis: bull case, bear case, and the flip lines.
Why someone would buy KRN Heat Exchanger and Refrigeration Ltd, why someone wouldn't, and the quantitative tripwires that would force the call to flip.
KRN Heat Exchanger and Refrigeration Ltd's investment case rests on 8 positive markers and 8 flagged concerns drawn from the latest reported filings.
What you're getting.
Promoter holding is robust at 70.8%, indicating strong insider confidence. The company also maintains a very low debt-to-equity ratio of 0.07, providing financial stability and flexibility.
KRN demonstrates good operational efficiency with a ROCE of 20.80% and ROE of 16.80%. These figures suggest effective capital utilization and decent returns for shareholders.
The company reported a significant quarterly sales growth of 20.40%, indicating strong demand for its products and effective market penetration in the "Other Industrial Products" sector.
KRN has shown a consistent upward trend in quarterly sales, growing from 71 Cr in Sep 2023 to 115 Cr in June 2025, demonstrating sustained revenue expansion over time.
As part of the "Capital Goods" sector, KRN can benefit from increasing industrialization and infrastructure development, driving demand for its "Heat Exchanger and Refrigeration" products.
What can break it.
KRN's stock trades at a high P/E ratio of 93.20, significantly above many peers like Inox India (48.71) and Esab India (44.77), suggesting it might be overvalued compared to its earnings.
Despite strong sales growth, the quarterly profit growth (PAT) is a modest 3.76%. This indicates potential pressure on margins or rising expenses, impacting bottom-line expansion.
The stock has seen a decline over the last five trading days and is currently trading at 800.00, significantly below its 52-week high of 1012.00, indicating recent downward pressure.
The company's price-to-book value stands at 9.93, which is quite high. This suggests that the market is valuing the company significantly above its net asset value, potentially indicating overvaluation.
KRN operates in a competitive landscape with peers like HBL Engineering and Inox India, which often exhibit higher ROCE and more robust quarterly profit growth, posing a competitive challenge.
What would change my mind.
Trim if P/E re-rates above 100. The valuation cushion thins from there.
Reassess if quarterly profit growth prints below 0% for two consecutive quarters. The bull case relies on compounding earnings.
Watch interest coverage if debt-to-equity climbs above 1.00. Balance sheet risk re-prices growth multiples fast.
KRN Heat Exchanger and Refrigeration Ltd peer comparison — same-sector benchmarks.
Same-sector listed peers ranked on P/E, market cap, dividend yield and growth — KRN Heat Exchanger and Refrigeration Ltd is highlighted for quick read-across.
Quick Compare
Peer Comparison
KRN Heat Exchanger and Refrigeration Ltd technical analysis: indicators, pivots and CPR.
Live RSI, MACD and moving-average signals plus today's pivot and Central Pivot Range levels for KRN Heat Exchanger and Refrigeration Ltd — derived from the live tape, not yesterday's close.
KRN Heat Exchanger and Refrigeration Ltd last traded at ₹1,094.4 with an intraday range of ₹1,084.4–₹1,194.9 — live indicator, pivot and CPR signals below.
Pivot points
Standard pivot — most widely referenced.
Pivot levels · Classic
Live: ₹1094.40| Level | Price (₹) | Distance | % Δ |
|---|---|---|---|
| R4 | 1385.73 | +291.33 | +26.62% |
| R3 | 1275.23 | +180.83 | +16.52% |
| R2 | 1235.07 | +140.67 | +12.85% |
| R1 | 1164.73 | +70.33 | +6.43% |
| PIVOT | 1124.57 | 30.17 | 2.76% |
| CURRENT | 1094.40 | — | — |
| S1 | 833.23 | -261.17 | -23.86% |
| S2 | 943.73 | -150.67 | -13.77% |
| S3 | 1014.07 | -80.33 | -7.34% |
| S4 | 1054.23 | -40.17 | -3.67% |
KRN is trading Below CPR, indicating Bearishness
CPR is Wider, suggesting unlikely for trending moves
Day's range: ~
Trading Below opening range, showing Bearishness
KRN Heat Exchanger and Refrigeration Ltd delivery volume — last 20 sessions of conviction.
Daily traded volume and delivery percentage for KRN Heat Exchanger and Refrigeration Ltd over 20 sessions — the gap between intraday flipping and genuine accumulation.
Latest session delivery in KRN Heat Exchanger and Refrigeration Ltd stood at 37.5% of traded volume, against a 20-day average of 28.6%.
KRN Heat Exchanger and Refrigeration announcements: results, concalls, ratings, M&A.
Filings KRN Heat Exchanger and Refrigeration sent to the exchanges, sequenced as they hit the tape — concall transcripts, results, credit ratings and presentations.
KRN Heat Exchanger and Refrigeration files concall transcripts, results, credit ratings and corporate-action notices on the NSE and BSE exchange portals — latest 170 documents below.
Committee Meeting Updates
KRN Heat Exchanger and Refrigeration Limited has informed the Exchange regarding Outcome of Committee Meeting held on Jun 09, 2026.
Disclosure under SEBI Takeover Regulations
Santosh Kumar Yadav has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India…
Analysts/Institutional Investor Meet/Con. Call Updates
KRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Schedule of meet
General Updates
KRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Revised Intimation under Regulation 30 of SEBI (Listing Obligations and…
General Updates
KRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Approval under Rajasthan Investment PromotionScheme (RIPS-2024)
Investor decks & rating reports.
KRN Heat Exchanger and Refrigeration dividend history, splits and bonus issues.
Every dividend, stock split and bonus issue KRN Heat Exchanger and Refrigeration has declared, sequenced by announce and record date.
KRN Heat Exchanger and Refrigeration corporate-action history below covers all declared dividends, stock splits and bonus issues recorded with NSE and BSE.
About KRN Heat Exchanger and Refrigeration Ltd: business, sector, key facts.
What KRN Heat Exchanger and Refrigeration Ltd does, where it operates, the people running it, and the numbers that describe the entity behind the ticker.
KRN Heat Exchanger and Refrigeration Ltd operates in the Building Products industry under the Industrials sector, listed as NSE: KRN, BSE: 544263.
KRN Heat Exchanger and Refrigeration Ltd
KRN Heat Exchanger and Refrigeration Limited is a manufacturer and supplier of heat exchangers primarily utilized in the heating, ventilation, air conditioning, and refrigeration (HVAC&R) sector. Their core product line consists of fin and tube-type heat exchangers constructed from aluminum and copper. This specialization positions them within a niche market demanding high-quality, efficient components for a range of applications.
The company's product portfolio encompasses a wide array of heat exchanger types tailored to diverse HVAC&R needs. This includes condenser coils, crucial for releasing heat from refrigerant systems; evaporator units and coils, responsible for absorbing heat; header/copper parts, which serve as critical connecting components; fluid and steam coils, used for heating and cooling various fluids; condensing and air-cooling units, offering complete systems for specific applications; and sheet metal parts, essential for the structural integrity and functionality of their larger assemblies. This comprehensive offering allows KRN to cater to a broad spectrum of customer requirements within the industry.
KRN's geographical reach extends beyond its base in Neemrana, India, to encompass a significant international presence. Their operations span across the rest of Asia, Europe, and North America, indicating a commitment to global market penetration and a diverse customer base. This broad geographic reach suggests a robust distribution network and a capability to serve clients with varying needs and specifications across different continents.
Established in 2017, KRN is a relatively young company in the heat exchanger industry. However, their established product range, international reach, and focus on a critical component within the HVAC&R sector suggests a rapid growth trajectory. Their ability to offer a comprehensive suite of products, from individual components to integrated units, indicates a strategic approach aimed at providing comprehensive solutions to their clients rather than simply supplying individual parts.
Questions investors ask about KRN Heat Exchanger and Refrigeration Ltd (KRN).
Quick answers grounded in this page's data — price action, fundamentals, ratios and ownership.
01What is the current share price of KRN Heat Exchanger and Refrigeration Ltd (KRN)?
The current share price of KRN Heat Exchanger and Refrigeration Ltd (KRN) is ₹1,094.4. Today, the stock has declined by ₹78.20 (6.67%), trading in a range of ₹1,084.4 to ₹1,194.9. The stock opened at ₹1,162.8 with a trading volume of 6,74,105 shares.
02Is KRN Heat Exchanger and Refrigeration Ltd stock a good investment for long-term?
KRN Heat Exchanger and Refrigeration Ltd can be considered for long-term investment based on several factors. The company has a market capitalization of ₹7,839.19 crores, P/E ratio of 77.24, ROE of 0.00%, and ROCE of 20.80%. The dividend yield stands at 0.00%. However, investment decisions should be based on your financial goals, risk appetite, and thorough research. It's recommended to consult with a SEBI-registered financial advisor before making investment decisions.
03What is the 52-week high and low price of KRN Heat Exchanger and Refrigeration Ltd stock?
The 52-week high price of KRN Heat Exchanger and Refrigeration Ltd (KRN) is ₹1,405, while the 52-week low is ₹589.8. Currently trading at ₹1,094.4, the stock is 61.9% away from its 52-week low and 22.1% below its 52-week high. These levels help investors understand the stock's price volatility and trading range over the past year.
04Should I buy KRN Heat Exchanger and Refrigeration Ltd stock at the current price?
Whether to buy KRN Heat Exchanger and Refrigeration Ltd stock at ₹1,094.4 depends on multiple factors. The stock is currently trading with a P/E ratio of 77.24 and P/B ratio of 8.63. Today's performance shows a loss of 6.67%. Consider analyzing the company's fundamentals, technical indicators, industry trends, and your investment horizon. Compare these metrics with industry peers and consult a financial advisor for personalized advice.
05What is the dividend yield of KRN Heat Exchanger and Refrigeration Ltd and when is the next dividend?
KRN Heat Exchanger and Refrigeration Ltd offers a dividend yield of 0.00%, which means for every ₹100 invested at the current price of ₹1,094.4, you can expect to receive approximately ₹0.00 annually as dividends. The face value of the stock is ₹10.00. For information about the next dividend announcement and ex-dividend date, please check the company's official announcements or visit the BSE/NSE websites.
06What are the key financial ratios and metrics of KRN Heat Exchanger and Refrigeration Ltd?
KRN Heat Exchanger and Refrigeration Ltd's key financial metrics include: P/E Ratio: 77.24, P/B Ratio: 8.63, ROE: 0.00%, ROCE: 20.80%, Dividend Yield: 0.00%, EPS: ₹9.50, Book Value: ₹80.22, and Debt-to-Equity: 0.07. The company's market cap stands at ₹7,839.19 crores. These metrics help evaluate the company's valuation, profitability, and financial health.
07How is KRN Heat Exchanger and Refrigeration Ltd stock performing today in the market?
KRN Heat Exchanger and Refrigeration Ltd stock opened at ₹1,162.8 and is currently trading at ₹1,094.4, showing a decline of ₹78.20 (6.67%). The intraday high is ₹1,194.9 and low is ₹1,084.4. The trading volume stands at 6,74,105 shares, indicating moderate market participation today.
08What is the P/E ratio of KRN Heat Exchanger and Refrigeration Ltd and what does it indicate?
KRN Heat Exchanger and Refrigeration Ltd has a Price-to-Earnings (P/E) ratio of 77.24, which means investors are willing to pay ₹77.24 for every ₹1 of earnings. With an EPS of ₹9.50, this P/E ratio suggests the stock may be trading at a premium, possibly due to high growth expectations. Compare this with industry peers and historical P/E ratios for better context.
The data, ratios and commentary about KRN Heat Exchanger and Refrigeration Ltd (KRN) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.
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