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 ₹ 5,338 Cr.
- Current Price ₹ 859
- High / Low ₹ 1,012 / 402
- Stock P/E 98.4
- Book Value ₹ 79.9
- Dividend Yield 0.00 %
- ROCE 20.7 %
- ROE 16.0 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company is expected to give good quarter
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.1%
Cons
- Stock is trading at 10.8 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Working capital days have increased from 105 days to 159 days
* 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
Industrials Capital Goods Industrial Products Other Industrial Products
Part of BSE SmallCap BSE IPO BSE Allcap BSE Industrials
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|
76 | 156 | 246 | 308 | 431 | 448 | |
70 | 139 | 197 | 249 | 360 | 374 | |
Operating Profit | 5 | 17 | 49 | 59 | 71 | 74 |
OPM % | 7% | 11% | 20% | 19% | 16% | 16% |
1 | 2 | 2 | 5 | 7 | 9 | |
Interest | 1 | 2 | 3 | 4 | 3 | 3 |
Depreciation | 2 | 3 | 3 | 4 | 4 | 4 |
Profit before tax | 3 | 15 | 46 | 56 | 71 | 76 |
Tax % | 27% | 29% | 29% | 29% | 30% | |
2 | 11 | 32 | 40 | 50 | 54 | |
EPS in Rs | 5.61 | 24.07 | 7.34 | 8.64 | 8.07 | 8.72 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 40% |
TTM: | 42% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 69% |
TTM: | 34% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | % |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 27% |
Last Year: | 16% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|
Equity Capital | 4 | 4 | 44 | 46 | 62 |
Reserves | 9 | 21 | 16 | 85 | 434 |
17 | 22 | 37 | 60 | 33 | |
23 | 45 | 53 | 39 | 60 | |
Total Liabilities | 52 | 93 | 149 | 230 | 590 |
21 | 21 | 32 | 27 | 26 | |
CWIP | 0 | 0 | 0 | 1 | 0 |
Investments | 0 | 0 | 0 | 5 | 251 |
31 | 71 | 117 | 197 | 313 | |
Total Assets | 52 | 93 | 149 | 230 | 590 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|
-1 | 4 | 5 | -7 | 19 | |
-13 | -3 | -14 | -4 | -272 | |
9 | 3 | 11 | 14 | 244 | |
Net Cash Flow | -5 | 5 | 2 | 3 | -9 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|
Debtor Days | 84 | 70 | 57 | 62 | 78 |
Inventory Days | 33 | 63 | 114 | 139 | 108 |
Days Payable | 129 | 120 | 102 | 59 | 60 |
Cash Conversion Cycle | -11 | 14 | 69 | 142 | 127 |
Working Capital Days | -17 | 3 | 42 | 113 | 159 |
ROCE % | 42% | 67% | 42% | 21% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 12h
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
1 Aug - Q1 FY26 earnings call audio recording available on company website.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 1 Aug
- Announcement under Regulation 30 (LODR)-Investor Presentation 31 Jul
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
31 Jul - KRN reports 35% net profit growth Q1 FY26; new Neemrana plant commissioned; ₹141.72 Cr PLI incentive approved.
Annual reports
No data available.
Concalls
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Aug 2025Transcript PPT
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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 heat exchangers and related thermal solutions. These products are used for efficient heat transfer between fluids, typically for heating and cooling applications.