Divya Agarwal
Jaipur [Rajasthan], May 21: KRN Heat Exchanger and Refrigeration Limited (BSE: 544263 | INE0Q3J01015 | NSE: KRN), one of the prominent manufacturers and exporters of aluminium/copper fins, copper tube heat exchangers, water coils, and condenser and evaporator coils has announced its Unaudited Financial Results for Q1 FY27
Key Financial Highlights
Q1 FY27 Standalone Key Financial Highlights
- Revenue from Operations of ₹181.97 Cr, YoY growth of 59.07%
- EBITDA of ₹24.67 Cr, YoY growth of 24.67%
- EBITDA Margin of 13.56%, YoY decline of 374 Bps
- Net Profit of ₹18.67 Cr, YoY growth of 19.02%
- Net Profit Margin of 10.26%, YoY decline of 345 Bps
- Diluted EPS of ₹2.95, YoY growth of 17.06%
Q1 FY27 Consolidated Key Financial Highlights
- Revenue from Operations of ₹252.32 Cr, YoY growth of 118.87%
- EBITDA of ₹49.06 Cr, YoY growth of 178.85%
- EBITDA Margin of 19.44%, YoY growth of 418 Bps
- Net Profit of ₹32.90 Cr, YoY growth of 164.84%
- Net Profit Margin of 13.04%, YoY growth of 266 Bps
- Diluted EPS of ₹5.20, YoY growth of 160.00%
*EBITDA is calculated on Revenue from Operation
Commenting on the Performance, Mr. Santosh Kumar, Chairman & Managing Director of KRN Heat Exchanger and Refrigeration Limited, said, “We have begun FY27 on a strong note, with consolidated revenue growing 119% year-on-year in Q1 FY27. The performance reflects the continued strength of our business model and the growing demand for efficient heating, ventilation, air conditioning and refrigeration solutions. We remain encouraged by the underlying business environment and the opportunities emerging across both domestic and international markets.
The growth in exports is particularly encouraging, with overseas revenue increasing 177% year-on-year and our products reaching customers across 14 countries during the quarter. This expansion reflects the growing acceptance of KRN’s products across international markets and the trust that customers are placing in our manufacturing capabilities, product quality and execution. At the same time, strong domestic growth demonstrates the depth of demand within our core market and provides a balanced foundation for our expansion.
As we move ahead, our focus remains on building scale, strengthening our manufacturing capabilities and deepening our presence across high-potential markets. The investments being made in capacity, localisation and backward integration are aimed at creating a stronger and more integrated operating base to support the next phase of growth. With a growing customer base, expanding export footprint and favourable industry opportunities, we remain focused on executing our strategy with discipline and building KRN into a stronger global player in the HVAC&R ecosystem.”
Other Key Highlights for Q1 FY27 – Consolidated
- The Company recorded total segment revenue of ₹252.32 Cr in Q1 FY27 against ₹115.28 Cr in Q1 FY26, a year-on-year growth of 118.86%.
- Overseas revenue grew 177.31% year-on-year to ₹52.38 Cr, taking the export share to 20.76% of total segment revenue from 16.38% in Q1 FY26. Exports were spread across 14 countries during the quarter.
- The USA was the largest export market at 32.59% of overseas revenue, followed by France at 19.81%, Vietnam at 12.20%, the United Arab Emirates at 11.34% and Italy at 10.78%, with Canada, Sri Lanka and Brazil among the other contributors.
- Domestic revenue stood at ₹199.94 Cr, contributing 79.24% of total segment revenue and marking growth of 107.42% over Q1 FY26.
Q1 FY27 Key Business Highlights
| Qualified Institutions Placement Completed | Issue opened 26 May 2026 and closed 1 June 2026.33,01,886 equity shares allotted at ₹1,060 per share, aggregating ₹349.99 Cr.₹349.99 Cr QIP completed during the quarter, with net proceeds of ₹341.79 Cr. The funds raised have been allocated towards the stated objective, while the unutilised portion is parked in fixed deposits (FDs) and bonds. |
| State Incentive for Neemrana Facility | Incentive of ₹182.95 Cr sanctioned by the Government of Rajasthan for the Neemrana facility.Supports the Company’s expansion, localisation and backward integration programme. |
| IPO Proceeds Fully Utilised | IPO proceeds of ₹311.12 Cr fully utilised as at 30 Junes 2026, with no unutilised balance.₹235.76 Cr invested as equity in KRN HVAC Products Pvt. Ltd. for the Neemrana manufacturing facility and ₹75.36 Cr towards general corporate purposes. |
| Chief Financial Officer Appointed | Mr. Pawan Nawal appointed Chief Financial Officer and Key Managerial Personnel with effect from 15 May 2026. |
| Order Won Subsequent to the Quarter | KRN HVAC Products Pvt. Ltd. received a domestic supply order of ₹50.87 Cr for heat exchanger coils on 23 July 2026. |
About KRN Heat Exchangers and Refrigeration Limited
KRN Heat Exchanger and Refrigeration Limited (KRN. the “Company”), founded in 2017 in Neemrana, India, specializes in manufacturing aluminium and copper fin and tube heat exchangers, including water coils, condenser coils, and evaporator coils. Their products are widely used by OEMs in the HVAC&R industry for heating, ventilation, air conditioning, and refrigeration applications.
The company is supported by a skilled engineering team with over 20+ years of industry experience,
focusing on creating customized, durable solutions that meet international quality standards. By building
on their expertise, KRN focuses on product quality and manufacturing processes for reliable end-user
solutions.
In FY26, the company reported significant financial results, including Standalone total income of ₹689.95
Cr, EBITDA of ₹84.79 Cr, and Net Profit of ₹71.31 Cr
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