Krn Heat Exchanger And Refrigeration Limited · NSE:KRN
Krn Heat Exchanger And Refrigeration — Q1 FY26 Earnings Presentation
50 slides from Krn Heat Exchanger And Refrigeration's earnings presentation, Jul 31, 2025
Slide 1: KRN Heat Exchanger and Refrigeration Limited – Investors' Presentation filing letter
KRN HEAT EXCHANGER AND REFRIGERATION LIMITED (Formerly Known As KRN Heat Exchanger And Refrigeration Pvt. Ltd.) Registered & Work Office: Plot No.: F-46,47,48,49, EPIP, RIICO Industrial Area, Neemrana – 301705 (RJ) CIN No.: L29309RJ2017PLC058905 Contact No. 9116629184 Date: 31st July, 2025 To, To, B
Slide 2: Q1 FY26 Investor Presentation
Q1 FY26 Investor Presentation KRN Heat Exchanger And Refrigeration Limited
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by KRN Heat Exchanger And Refrigeration Limited (KRN, The Company) solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any se
Slide 4: Q1 FY26 Financial & Operational Highlights
Q1 FY26 Financial & Operational Highlights
Slide 5: Standalone Q1 FY26 Key Financial Highlight
Standalone Q1 FY26 Key Financial Highlight 130.00 25.00 Total Income EBITDA EBITDA Margin% Net Profit Net Profit % 23.00 17 120.00 117.14 15.69 21.00 19.79 16 19.00 15 110.00 14 17.06 13 11.63 13.39 17.00 17.50 17.30 12 11 100.00 98.73 15.00 11.78 10 9 8 13.00 90.00 7 6 11.00 5 4 9.00 80.00 3 7.00 2
Slide 6: Q1 FY26 - Profit & Loss Statement - Standalone
Q1 FY26 - Profit & Loss Statement - Standalone In ₹ Cr Particulars Q1 FY25 Q1 FY26 YoY Revenues 97.45 114.40 Other Income 1.27 2.74 Total Income 98.73 117.14 18.65% Raw Material 73.67 84.88 Employee costs 3.89 5.33 Other expenses 2.84 4.40 Total Expenditure 80.40 94.61 EBITDA 17.06 19.79 16.02% EBID
Slide 7: Q1 FY26 - Profit & Loss Statement - Consolidated
Q1 FY26 - Profit & Loss Statement - Consolidated In ₹ Cr Particulars Q1 FY25 Q1 FY26 YoY Revenues 95.78 115.28 Other Income 1.19 3.58 Total Income 96.98 118.86 22.56% Raw Material 70.97 85.72 Employee costs 4.20 6.65 Other expenses 2.91 5.31 Total Expenditure 78.09 97.69 EBITDA 17.70 17.59 -0.58% EB
Slide 8: Q1 FY26 Consolidated Export Revenue
Q1 FY26 Consolidated Export Revenue: A Testament to Strong Global Demand (In Cr) Q1 FY26 Export Revenue (In %) United Arab Emirates 8.76 1.22 17.95 Canada 2.93 Italy 3.57 18.90 46.40 USA 3.39 Other 0.23 15.53 United Arab Emirates Canada Italy USA Other Total 18.89 Investor Presentation 7
Slide 9: Management's Comment On Q1 FY26 Performance
Management's Comment On Q1 FY26 Performance “We have made a strong start to FY26. The successful commissioning of our Neemrana facility under our subsidiary, KRN HVAC Products Pvt. Ltd., marks a major milestone in our growth journey. This state-of-the-art manufacturing hub significantly enhances our
Slide 10: Q1 FY26 Key Business Highlights
Q1 FY26 Key Business Highlights Subsidiary Commences Production At Neemrana Plant • Commercial Operations: KRN HVAC Products Pvt. Ltd., subsidiary commenced production on May 31, 2025. • Location: RIICO Industrial Area, Neemrana, Alwar, Rajasthan. • Product Focus: Heat Exchangers and HVAC products.
Slide 11: Company Overview
Company Overview
Slide 12: Customized Heat Exchanger Production
KRN Heat Exchanger And Refrigeration Limited: Customized Heat Exchanger Production KRN Heat Exchanger and These products serve essential Refrigeration Limited (KRN, The roles in air conditioning, heating, Company) specializes in ventilation, refrigeration, and manufacturing fin and tube-type process
Slide 13: Core Principles For Success: Mission, Vision, and Values
Core Principles For Success: Mission, Vision, and Values MISSION To maximize the value creation of all the clients of the company through supply of cost-effective products, services through integration of people, technology, process and business system. VALUES To provide excellent solution to VISION
Slide 14: KRN At A Glance: Scale, Strength, Success
KRN At A Glance: Scale, Strength, Success: Key Highlights 7+ 5 MM to 15.88 MM. 2 Years In Business heat exchanger tubes Manufacturing Facilities 6 19 1 Million Products End-Use Product Category units annually Total Production Capacity 780+ 10+ Consolidated Team Certificates FY25 (₹ in Cr) Revenue: 4
Slide 15: Journey Of Growth
From Startup Spark to Market Star: Journey Of Growth • New lines added 25X21.65 mm in 9.52mm, 30.00 X26.0 mm in 12.7mm • New lines added featuring a 5/8” diameter • Company expanded its plant area to tube, specifically designed to cater Air 7,800 Sq. Mt. by acquiring plot no. 46 Handling Unit (AHU)
Slide 16: Global Presence
Crossing Borders With Confidence: Global Presence 05 11 12 08 09 07 06 02 13 03 14 10 04 1. United Arab Emirates 2. USA 3. Italy 4. Saudi Arabia 5. Norway 6. Czech Republic 7. Germany 8. United Kingdom 9. Poland 10. China 11. Canada 12. Ireland 13. France 14. Croatia Investor Presentation 15
Slide 17: Certificates
Certifying Quality, Validating Trust: Certificates ISO 45001:2018 ISO 14001:2015 ISO 45001:2018 AHRI IS 11329 : 2018 BS EN ISO 13134 BS EN ISO 13535 UL-CA-2133826-0 Investor Presentation 16
Slide 18: Certificates
Certifying Quality, Validating Trust: Certificates UL-CA-2133828-0 UL-CA-2135187-0 UL-US-2135178-0 UL-US-2140353-0 UL-US-2141923-0 UL-US-2140355-0 UL-US-2141932-0 Investor Presentation 17
Slide 19: KRN's Management
KRN’s Management: Focused on Efficiency and Future Growth Mr. Santosh Kumar Yadav Chairman and Managing Director He is the Promoter, Chairman, and Managing Director of the Company, holding diplomas in Business Management and Mechanical Engineering. With over 19 years of experience in manufacturing h
Slide 20: KRN's Management
KRN’s Management: Focused on Efficiency and Future Growth Mr. Srinivasa Rao Anasingaraju Independent Director He holds bachelor’s and master’s degrees in commerce, a law degree, and is a qualified Cost Accountant (ICWAI) and Company Secretary (ICSI). A registered Insolvency Professional, he has 22 y
Slide 21: Business Overview
Business Overview
Slide 22: Leading The Way With Exceptional Products
Leading The Way With Exceptional Products Evaporator Coils • Fin spacing from 1.15 to 8.5 mm for various HVAC and refrigeration systems. • Hydrophilic coating prevents water droplets in refrigerated spaces. • Multiple refrigerant circuits ensure balanced distribution. • Dual evaporators for industri
Slide 23: Leading The Way With Exceptional Products
Leading The Way With Exceptional Products Condensing Units and Air-cooling Units • A refrigeration circuit includes a compressor, condenser, throttle device, and evaporator. • The compressor sends refrigerant to the condenser to release heat. • Refrigerant passes through the expansion valve into the
Slide 24: Product & Usage Scenarios – Air Conditioning
Product & Usage Scenarios Air Conditioning Use Case Products Use Case Products Residential AC Precision Air Conditioning Cassette type Railway/Metro HVAC HVAC Fan Coil Unit Automotive (FCU) HVAC Defence Air Commercial HVAC Conditioning Data Centre Cooling Investor Presentation 23
Slide 25: Product & Usage Scenarios – Refrigeration
Product & Usage Scenarios Refrigeration Use Case Products Use Case Products Commercial Beverage Refrigeration Coolers Water Coolers Vending Machines Chest Freezers Investor Presentation 24
Slide 26: Product & Usage Scenarios – Process Cooling, White Goods
Product & Usage Scenarios Process Cooling White Goods Use Case Products Use Case Products Cloth Dryer/ Civil and Washing Construction Machines Others Medical Dry Air Cooler Equipment Swimming Pool Heat Pump Investor Presentation 25
Slide 27: New Arrivals Preview
New Arrivals Preview Bar & Plate Exchanger Oil Cooling Unit with Blower & Motor Roll Bond Evaporator The Bar & Plate Heat Exchanger is a device An oil cooler is a smaller, separate radiator Roll-Bond evaporators provide designed to recover heat from one fluid and from the engine's main radiator, des
Slide 28: Product Quality & Innovation
Product Quality & Innovation Quality Control: Product Design: In-house quality checks like Helium Leak Test, Water Continuous investment in product design and Leak Test, Salt Spray Testing. development. Investor Presentation 27
Slide 29: Advanced Coatings For Heat Exchanger Durability
Advanced Coatings For Heat Exchanger Durability Nano Coating Powder Coated with Nano Coating Bly Gold Coating To enhance the longevity and corrosion Nano coating provides This coating helps Powder coating, on the It ensures uniform resistance of heat a thin, protective layer prevent corrosive other
Slide 30: Stringent Testing For KRN Products
Stringent Testing For KRN Products Helium leak Testing Machine Contamination Testing Salt Spray Test KRN maintains a dedicated in- house facility for rigorous These tests encompass the By employing these quality checks on its Helium Leak Test, Water comprehensive testing manufactured products. Their
Slide 31: Manufacturing Hub
Built for Scale, Driven By Precision: Manufacturing Hub Operational Efficiency Details Evaporator & Condenser Coils Installed Capacity: 5,66,551 Capacity Utilization: 84.09% Headers/ Copper Parts: Installed Capacity: 6,18,667 Capacity Utilization: 84.53% Sheet Metal Parts Installed Capacity: 5,56,80
Slide 32: Trusted By Industry Titans: Marquee Clients
Trusted By Industry Titans: Marquee Clients Daikin Airconditioning Schneider Electric IT Business India Kirloskar Chillers Private Limited India Private Limited (since 2018) Private Limited (since 2019) (since 2020) Climaventa Climate Technologies Knorr-Bremse India Private Limited Blue Star Limited
Slide 33: Geographical Wise Revenue Breakup
Geographical Wise Revenue Breakup FY25 In % FY24 In % FY23 In % 15.69 14.68 11.40 84.31 85.26 88.53 Domestic Sales Export Sales In ₹ Cr Particulars FY25 FY24 FY23 Domestic Sales 362.40 262.85 219.10 Export Sales 67.45 45.27 28.20 Total 429.85 308.28 247.48 The FY23 figures are standalone, while the
Slide 34: Continent Wise Revenue Breakup
Continent Wise Revenue Breakup In % In % In % FY25 FY24 FY23 12.84 17.48 22.03 13.79 51.25 51.75 23.55 58.97 26.73 21.62 Asia North America & South America Europe Oceania In ₹ Cr Particulars FY25 FY24 FY23 Asia 34.90 26.69 14.45 North America & South America 14.58 10.66 7.54 Europe 9.30 7.91 6.21 Oc
Slide 35: Industry Overview
Industry Overview
Slide 36: Driving Growth in the Evolving HVAC Industry
Driving Growth in the Evolving HVAC Industry The Indian Heating, Ventilation, and Air Conditioning (HVAC) sector is experiencing significant growth, driven by factors such as rapid urbanization, increasing disposable income, and changing climatic conditions. Government initiatives, including ‘Make i
Slide 37: Growth Forecast In Indian Finned Tube Heat Exchanger Market
Growth Forecast In Indian Finned Tube Heat Exchanger Market Market Growth Projection: Renewable Energy Technological Government Initiatives: The Indian heat exchanger tubes Investments: Advancements: Government programs like market is expected to grow from Rising investments in solar, Material and m
Slide 38: Financial Overview
Financial Overview
Slide 39: Key Financial Statement
Key Financial Statement Total Income EBITDA EBITDA Margin% Net Profit Net Profit % 441.71 70.51 58.45 52.88 313.74 49.09 250.02 39.39 33.55 19.83 18.96 16.40 13.42 12.55 11.97 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 All Amount In ₹ Cr & Margins In % Note: EBITDA and EBITDA margin computed on Re
Slide 40: Profit & Loss Statement
Profit & Loss Statement In ₹ Cr Particulars FY25 FY24 FY23 Revenues 429.85 308.28 247.48 Other Income 11.86 5.46 2.54 Total Income 441.71 313.74 250.02 Raw Material 318.94 222.26 176.29 Employee costs 21.09 13.10 9.28 Other expenses 19.31 14.47 12.83 Total Expenditure 359.34 249.83 198.39 EBITDA 70.
Slide 41: Balance Sheet
Balance Sheet In ₹ Cr Equities & Liabilities FY25 FY24 FY23 Assets FY25 FY24 FY23 Equity 62.16 46.14 44.00 Non-Current Assets Reserves 436.48 84.15 13.89 Fixed assets 167.47 86.15 32.15 Non-Controlling Interests 0.00 0.00 0.00 Non Current Investments 0.00 0.00 0.00 Net Worth 498.63 130.28 57.89 Othe
Slide 42: Cashflow Highlights
Cashflow Highlights In ₹ Cr Particulars FY25 FY24 FY23 Cashflow from Operations 21.444 16.92 5.17 Cashflow from Investments -279.3 -64.17 -13.99 Cashflow from Financing 257.77 50.10 10.91 Net Cash Flow -0.04 2.85 2.10 The FY23 figures are standalone, while the FY24 and FY25 figures are consolidated.
Slide 43: Key Ratios
Key Ratios (In %) (In %) ROE ROCE 57.95 48.57 26.39 30.23 12.38 10.60 FY23 FY24 FY25 FY23 FY24 FY25 (In Times) (In Times) Debt to Equity Ratio Interest Coverage Ratio 0.63 19.31 0.46 14.47 13.66 0.07 FY23 FY24 FY25 FY23 FY24 FY25 The FY23 figures are standalone, while the FY24 and FY25 figures are c
Slide 44: Key Ratios
Key Ratios (In Times) (In Times) Current Ratio Receivable Turnover Ratio 4.52 6.40 5.88 4.62 1.58 1.66 FY23 FY24 FY25 FY23 FY24 FY25 (In ₹) (In ₹) Earnings Per Share Book Value Per Share 9.75 80.22 8.76 7.62 28.24 13.16 FY23 FY24 FY25 FY23 FY24 FY25 The FY23 figures are standalone, while the FY24 an
Slide 45: The Way Forward
The Way Forward
Slide 46: SWOT Analysis
SWOT Analysis Strengths Weakness Opportunities Threats • Promoters exhibit strong • Being Import dependent for raw • Indian HVAC Market expected to • May be due to risks or uncertainties or leadership and are supported by material, the company may face grow by a CAGR of 14.5% till 2029 as assumption
Slide 47: Core Competencies
Core Competencies Strong leaders with Effective quality control Consistent financial Established Long‐standing business experienced senior checks performance Manufacturing facility relationships with management leading clientele • Strong leadership from • In-house facility for stringent • Growth fro
Slide 48: Strategic Direction
Strategic Direction • Served 113 customers in FY 2024-25 Commitment to high-quality, safety- • Top 10 customers accounted for compliant products Close interaction • Diversifying customer base and with customers to understand market increasing market share 72.31% of revenue perception and demand Inco
Slide 49: Stock Data
Stock Data Stock Information Share Holding Pattern As on 31-07-2025 As on 30-06-2025 NSE Code KRN BSE 544263 ISIN INE0Q3J01015 29.21% Share Price ₹ 850.25 Promoter & Promoter Group Market Capitalization ₹ Cr 5,284.86 No. of Share Outstanding 6,21,56,600 Public Face Value ₹ 10.00 70.79% 52 Week High
Slide 50: Thank You
Thank You KRN Heat Exchanger And Refrigeration Limited Plot No. F-46,47,48,49, EPIP, RIICO Industrial Area, Neemrana – 301705 (RJ) Phone: +91- 9257025440 Website: https://krnheatexchanger.com Email: cs@krnheatexchanger.com Kirin Advisors Private Limited 713-B, Lodha Supremus II, Wagle Estate, Thane
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