KRN Heat Exchanger and Refrigeration Ltd (KRN) — shareholding pattern, promoter holding, financials and share price
About KRN Heat Exchanger and Refrigeration Ltd (KRN)
KRN Heat Exchanger and Refrigeration Ltd operates in the Other Industrial Products industry, within the Capital Goods sector. It trades on the NSE as KRN and on the BSE under scrip code 544263. Its ISIN is INE0Q3J01015.
KRN Heat Exchanger and Refrigeration (KHERL), manufactures fin and tube-type heat exchangers for the Heat Ventilation Air Conditioning, and Refrigeration Industry. [1]
KRN Heat Exchanger and Refrigeration Limited manufactures fin‑and‑tube heat exchangers and assembled HVAC&R components—condensers, evaporator coils, headers, fluid/steam coils and sheet metal parts—for industrial, commercial, transport and data‑center cooling applications, operating two manufacturing facilities with in‑house testing and coatings capabilities and a listed corporate profile since October 2024.
Financially KRN reported strong volume‑led growth: consolidated Q3 total income rose ~33% year‑on‑year to ₹155 crore with EBITDA nearly doubling to ₹31 crore and consolidated 9M EBITDA up 53%; consolidated margins and net profit expansion highlight operational gearing benefits from scale and HVAC subsidiary contribution.
Listed peers in Other Industrial Products: Esab India Ltd, Subros Ltd, Kirloskar Industries Ltd, Harsha Engineers International Ltd, Ador Welding Ltd, Diffusion Engineers Ltd.
Valuation & Returns
10 Jul 2026At ₹1,230.65 a share on 10 Jul 2026, KRN Heat Exchanger and Refrigeration Ltd (KRN) was valued at a price-to-earnings ratio of 105.36x against an industry P/E of 37x and a price-to-book of 16.16x on a book value of ₹76.18 per share as of Mar 2025. Solomo computes return on equity of 15.33% and return on capital employed of 19.52% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2025 to Mar 2026.
- P/E
- 105.36x
- Industry P/E
- 37x
- P/B
- 16.16x
- EPS (TTM)
- ₹11.68
- Book value / share
- ₹76.18
- ROE
- 15.33%
- ROCE
- 19.52%
- ROA
- 12.85%
- Debt / equity
- 0.07x
- Dividend yield
- 0%
- EBITDA margin
- 20.43%
- 52-week range
- ₹589.75 – ₹1,405
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, KRN Heat Exchanger and Refrigeration Ltd (KRN) reported revenue of ₹600 crore, net profit of ₹76 crore and earnings per share of ₹12.3. That compares with revenue of ₹430 crore and net profit of ₹53 crore in Mar 2025. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹179 crore and net profit ₹23 crore (consolidated).
| Metric | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Revenue (₹ cr) | 307 | 430 | 600 |
| Net profit (₹ cr) | 39 | 53 | 76 |
| EPS (₹) | 8.54 | 8.51 | 12.3 |
| Measure | 3Y | 1Y |
|---|---|---|
| Sales growth | 40.31% | 39.43% |
| Profit growth | 67.95% | 34.25% |
| Stock price CAGR | - | 49% |
Ownership Summary
Jun 2026As of Jun 2026, promoters hold 65.69% of KRN Heat Exchanger and Refrigeration Ltd (KRN) (down 5.1 pp QoQ), foreign institutional investors (FII) hold 8.86% and domestic institutional investors (DII) hold 8.33%. Market capitalisation was ₹8,056 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Sep 2024.
Largest disclosed public shareholders in Jun 2026: VQ FASTERCAP FUND 2.41%, WHITEOAK CAPITAL SPECIAL OPPORTUNITIES FUND 2.09%, MUKUL MAHAVIR AGRAWAL 1.53%, Hood River International Opportunity Fund 1.05%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Jun 2026 | 65.69% | - | 8.86% | 8.33% | 34.31% |
| Mar 2026 | 70.79% | - | 6.67% | 6.39% | 29.21% |
| Dec 2025 | 69.62% | - | 5.21% | 6.25% | 30.38% |
| Sep 2025 | 70.79% | - | 5.46% | 6.21% | 29.21% |
| Jun 2025 | 70.79% | - | 2.35% | 6.07% | 29.21% |
| Mar 2025 | 70.79% | - | 1.21% | 6.28% | 29.21% |
| Dec 2024 | 70.79% | - | 1.98% | 8.18% | 29.21% |
| Sep 2024 | 70.79% | - | 4.05% | 7.46% | 29.21% |