KRN Heat Exchanger and Refrigeration Ltd (KRN) Share Price & Fundamentals

What we do

KRN Heat Exchanger and Refrigeration Limited manufactures fin and tube heat exchangers mainly from copper and aluminum for HVAC&R industries, enhancing efficiency with advanced coatings.

Founded in

2,017

Market share

A recognized player in Indian HVAC&R heat exchanger manufacturing with growing global exports to 14 countries.

Problem solved

Solves heating, ventilation, air conditioning, and refrigeration efficiency challenges via durable, corrosion-resistant heat exchangers.

Top clients or who we serve

Supplies to HVAC OEMs including Daikin, Schneider Electric, Blue Star; B2B primarily serving commercial and industrial sectors.

Key management

Santosh Kumar Yadav, Chairman and Managing Director, with 19+ years industry experience, leads strategic growth and operations.

Our journey and innovations

Incorporated in 2017, expanded manufacturing capability, introduced nano and powder coatings to improve product longevity, and listed IPO in 2024.

Where we operate

Plants in Neemrana and Bhiwadi, India; exports to UAE, USA, Europe, Canada, and other global markets.

Top products or what we offer

Manufactures condenser coils, evaporator coils, fluid/steam coils, headers, sheet metal parts, and advanced heat exchangers with custom designs.

Top brands

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Raw materials needed

Copper, aluminium, brazing materials, sheet metal parts.

Raw materials supplier

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Recurring vs cyclical contribution

Revenue is driven by recurring demand in HVAC&R manufacturing sectors with some cyclical economic dependencies.

Our industry position

Strong domestic manufacturer with increasing export footprint; growing financial performance and sector presence.

Financial highlights

FY25 consolidated revenue ₹441.7 Cr, net profit ₹52.88 Cr, EBITDA ₹70.51 Cr; healthy growth from prior years.

Geographical revenue split

FY25 revenue split: 84% India, 16% outside India including UAE, USA, Europe, Canada.

Order book

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Whats driving growth

Demand growth driven by HVAC market expansion, urbanization, energy efficiency needs, and export market penetration.

Our future plans

Expand product portfolio, increase manufacturing capacity, enhance R&D via subsidiary Thermotech Research Laboratory.

Our green promise

Invests in sustainable manufacturing and coating technologies; committed to ESG practices and renewable energy applications.

Our people and values

Employs 1250+ staff with focus on employee wellbeing, training, diversity, and strong corporate culture.

Key challenges ahead

Raw material supply risks, competitive pressures, customer in-house manufacturing trends, and regulatory hurdles.

Interesting facts

First listed heat exchanger company in region; runs in-house brazing school and advanced leak testing labs.

Risks and strategy

Mitigates supply chain, regulatory, and operational risks through diversified sourcing, quality assurance, and strategic leadership.