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KRN Heat Exchanger and Refrigeration

KRN NSE
₹1,011.70 −23.80 (−2.30%)
P/E
65.95
View as Markdown
MCP
Close 4 Nov 2026 ₹1,011.70 +207.70 +25.8% 1Y
Start ₹804.00

Key Fundamentals

MicrocapIndustrial ProductsCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
16.00%
Debt to Equity
0.33
EPS (TTM)
₹15.34
Book Value
₹150.36
Market Cap
—
P/E (TTM)
65.95
P/B
6.73
ROE
14.10%
Dividend Yield
0.00%
EBITDA
₹122 Cr
52W High
₹1,687.00
52W Low
₹589.80
Day Range
₹983.80 – ₹1,023.20
Volume
26,76,264

Peer Comparison

Industrials › Industrial Products › Other Industrial Products

KRN Heat Exchanger and Refrigeration peer comparison
HBL Engineering
₹836.4029.69₹22,697 Cr10.470.37%45.30%59.30%₹3,339 Cr₹780 Cr
INOX India
₹1,936.7068.97₹17,030 Cr15.730.11%26.10%33.50%₹1,618 Cr₹255 Cr
ESAB India
₹5,330.0036.98₹8,482 Cr19.111.37%48.80%64.70%₹1,577 Cr₹222 Cr
KRN Heat Exchanger and Refrigeration (this company)
₹1,011.7065.95₹6,440 Cr6.730.00%14.10%16.00%₹737 Cr₹97 Cr
Harsha Engineers
₹462.0027.19₹4,075 Cr3.000.34%10.50%13.00%₹1,719 Cr₹154 Cr
Subros
₹595.1023.34₹3,836 Cr3.120.51%14.50%19.20%₹3,909 Cr₹167 Cr
Ador Welding
₹1,414.2021.46₹2,487 Cr4.320.52%16.40%22.70%₹1,258 Cr₹115 Cr
Median 7 companies₹1,011.7029.69₹6,440 Cr6.730.37%16.40%22.70%₹1,618 Cr₹167 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

40 Weak

Data confidence 98/100

Category scores

Quality
29
Poor
Returns, margins, earnings quality 22% weight
Valuation
19
Poor
Cheap vs sector & own history 24% weight
Growth
98
Strong
Sales & profit trajectory 9% weight
Financial Health
65
Good
Solvency, leverage, coverage 9% weight
Momentum
20
Poor
Trend strength, vol-adjusted 12% weight
Ownership
44
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company is expected to give good quarter

Weaknesses

4
  • Stock is trading at 15.3 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company might be capitalizing the interest cost
  • Debtor days have increased from 82.5 to 106 days.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1243
OscillatorsBullish243
Moving AveragesStrong Bearish1000

Key readings

RSI (14)
32.23
Neutral
MACD (12,26,9)
−89.59
Bearish
SMA (50)
1,373.99
Bearish
SMA (200)
1,142.63
Bearish

As of

Analyst Rating

Based on 2 analysts
TIED50%

1 of 2 analysts rate Buy, 0 Hold, 1 Sell.

As of

BUY
1
50%
HOLD
0
0%
SELL
1
50%

Growth Rate

From the financial statements below. 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
1Y+39.53%
TTM+63.92%

Net profit

Net profit growth by window
1Y+43.40%
TTM+83.02%

Operating cash flow

Operating cash flow growth by window
1YTurned negative
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
1Y+2.39 pp
TTM+3.76 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2024₹307 Cr
Mar 2025₹430 Cr
Mar 2026₹600 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2024₹39.00 Cr
Mar 2025₹53.00 Cr
Mar 2026₹76.00 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹201 Cr +64.8% vs FY26
Reported High Mean Low

Quarterly Results

₹ Cr
KRN quarterly results, ₹ crore
Particulars Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
71
66
82
96
91
111
132
115
152
153
179
252
319
Expenses
58
54
64
78
73
96
113
98
122
122
146
203
270
Operating Profit
13
12
18
18
18
16
19
18
30
31
34
49
49
OPM %
19%
18%
21%
18%
20%
14%
14%
15%
20%
20%
19%
19%
15%
Other Income
1
1
2
1
1
5
4
4
2
2
2
3
7
Interest
1
1
1
1
1
0
1
1
1
2
3
3
—
Depreciation
1
1
1
1
1
1
1
2
5
6
6
6
7
PBT
12
11
17
17
17
19
21
18
27
26
27
42
46
Tax %
29%
29%
30%
29%
29%
28%
30%
32%
33%
12%
13%
22%
21%
Net Profit
9
8
12
12
12
14
15
12
18
23
23
33
36
EPS (₹)
1.96
1.71
2.61
2.59
1.98
2.21
2.39
2
2.9
3.65
3.76
5.03
—

Sep 2026: from the results filed on 29 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
KRN profit and loss, annual, ₹ crore
Particulars Mar 2024Mar 2025Mar 2026TTM
Sales
307
430
600
737
Expenses
249
359
487
593
Operating Profit
59
70
112
144
OPM %
19%
16%
19%
20%
Other Income
5
12
10
9
Interest
4
3
6
8
Depreciation
4
5
19
23
PBT
56
74
98
122
Tax %
30%
29%
22%
—
Net Profit
39
53
76
97
EPS (₹)
8.54
8.51
12.3
15.34
Div. Payout %
0%
0%
0%
—

Balance Sheet

₹ Cr
KRN balance sheet, annual, ₹ crore
Particulars Mar 2024Mar 2025Mar 2026
Equity Capital
46
62
62
Reserves
84
436
512
Borrowings
87
33
187
Other Liabilities
40
63
171
Total Liabilities
257
595
932
Fixed Assets
82
85
314
CWIP
4
82
33
Investments
0
0
0
Other Assets
171
428
585
Total Assets
257
595
932

Cash Flow

₹ Cr
KRN cash flow, annual, ₹ crore
Particulars Mar 2024Mar 2025Mar 2026
Operating
17
21
−114
Investing
−64
−279
−34
Financing
50
258
148
Net Cash Flow
3
0
0
Free Cash Flow
−41
−52
−312
CFO/OP
54
61
−82

Ratios

KRN financial ratios, annual
Particulars Mar 2024Mar 2025Mar 2026
Debtor Days
62
79
106
Inventory Days
139
110
242
Days Payable
60
63
140
Cash Conversion Cycle
141
125
208
Working Capital Days
62
153
110
ROCE %
—
21%
16%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view KRN Heat Exchanger and Refrigeration insights

60 extracted metrics across FY23–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 65.69%
  • Public 14.26%
  • FIIs 8.98%
  • DIIs 7.98%
  • Others 3.09%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Documents

Frequently Asked Questions about KRN Heat Exchanger and Refrigeration

What does KRN Heat Exchanger and Refrigeration Ltd do?
KRN Heat Exchanger and Refrigeration (KHERL), manufactures fin and tube-type heat exchangers for the Heat Ventilation Air Conditioning, and Refrigeration Industry.
Where is KRN Heat Exchanger and Refrigeration Ltd (KRN) listed?
KRN Heat Exchanger and Refrigeration Ltd trades as KRN on the NSE and under code 544263 on the BSE.
Which sector does KRN Heat Exchanger and Refrigeration Ltd belong to?
KRN Heat Exchanger and Refrigeration Ltd is classified under the Industrial Products sector, in the Other Industrial Products industry.
What is the PE ratio of KRN Heat Exchanger and Refrigeration Ltd?
KRN Heat Exchanger and Refrigeration Ltd trades at a PE ratio of 65.95 as of 4 Nov 2026, on earnings per share of ₹15.34, against a book value of ₹150.36 per share.
What is the 52-week high and low of KRN Heat Exchanger and Refrigeration Ltd?
Over the last 52 weeks KRN Heat Exchanger and Refrigeration Ltd has traded between ₹589.8 and ₹1,687 as of 4 Nov 2026.
What is the Return on Equity (ROE) of KRN Heat Exchanger and Refrigeration Ltd?
KRN Heat Exchanger and Refrigeration Ltd reported a return on equity of 14.10%. Its debt-to-equity ratio is 0.33.

Company Information

KRN Heat Exchanger and Refrigeration (KHERL), manufactures fin and tube-type heat exchangers for the Heat Ventilation Air Conditioning, and Refrigeration Industry.

Website krnheatexchanger.com
Listed 3 Oct 2024
Face Value ₹10

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