KRN Heat Exchanger and Refrigeration Ltd
KRN Heat Exchanger and Refrigeration (KHERL), manufactures fin and tube-type heat exchangers for the Heat Ventilation Air Conditioning, and Refrigeration Industry.[1]
- Market Cap ₹ 4,798 Cr.
- Current Price ₹ 771
- High / Low ₹ 1,012 / 402
- Stock P/E 90.7
- Book Value ₹ 80.2
- Dividend Yield 0.00 %
- ROCE 20.7 %
- ROE 16.8 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
Cons
- Stock is trading at 9.62 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Engineering Industry: Engineering
Part of BSE SmallCap BSE IPO BSE Allcap BSE Industrials
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | |
|---|---|---|
| 307 | 430 | |
| 249 | 359 | |
| Operating Profit | 59 | 70 |
| OPM % | 19% | 16% |
| 5 | 12 | |
| Interest | 4 | 3 |
| Depreciation | 4 | 5 |
| Profit before tax | 56 | 74 |
| Tax % | 30% | 29% |
| 39 | 53 | |
| EPS in Rs | 8.47 | 8.51 |
| Dividend Payout % | -0% | -0% |
| Compounded Sales Growth | |
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| TTM: | 40% |
| Compounded Profit Growth | |
|---|---|
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| 5 Years: | % |
| 3 Years: | % |
| TTM: | 35% |
| Stock Price CAGR | |
|---|---|
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| Return on Equity | |
|---|---|
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| Last Year: | 17% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | |
|---|---|---|
| Equity Capital | 46 | 62 |
| Reserves | 86 | 436 |
| 87 | 33 | |
| 40 | 63 | |
| Total Liabilities | 258 | 595 |
| 82 | 85 | |
| CWIP | 4 | 82 |
| Investments | -0 | -0 |
| 172 | 428 | |
| Total Assets | 258 | 595 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | |
|---|---|---|
| 3 | 21 | |
| -66 | -279 | |
| 66 | 258 | |
| Net Cash Flow | 3 | -0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | |
|---|---|---|
| Debtor Days | 62 | 79 |
| Inventory Days | 139 | 110 |
| Days Payable | 60 | 63 |
| Cash Conversion Cycle | 141 | 125 |
| Working Capital Days | 138 | 180 |
| ROCE % | 21% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
1d - FY25 revenue INR441.71 Cr, PLI incentive INR141.72 Cr, Indian Railways vendor approval, new R&D subsidiary.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2d - Scheduled analyst/investor meeting on 22-May-2025, virtual/physical mode.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
15 May - Audio recording of Q4 FY25 earnings call available on company website.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
15 May - KRN's subsidiary approved for ₹141.72 Cr PLI incentives to boost manufacturing and expansion.
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
15 May - Q4 FY25 Monitoring Agency Report confirms IPO proceeds used as disclosed; minor delay in subsidiary investment due to regulations.
Annual reports
No data available.
Concalls
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May 2025Transcript PPT REC
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May 2025TranscriptNotesPPT
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT REC
Business Profile[1] KRN Heat Exchangers designs, manufactures, and supplies of heat exchangers and related thermal solutions. These products are used for efficient heat transfer between fluids, typically for heating or cooling applications.