KRN Heat Exchanger and Refrigeration Limited — PPTs, 15-05-2026: Investor Presentation

KRN Heat Exchanger and Refrigeration (KRN) reported robust financial results for the year ended March 31, 2026. Consolidated revenue grew 38.06% YoY to ₹600.06 Cr, while Net Profit surged 44.62% to ₹76.47 Cr. EBITDA saw a substantial 59.52% increase to ₹112.48 Cr, with margins strengthening to 18.74%. Exports were a key growth driver, reaching ~₹99 Cr across 18 countries.

Growth was significantly driven by the new HVAC manufacturing facility, which became operational in May 2025, and the strategic acquisition of Sphere Refrigeration's Bus AC division in Q2 FY26. This acquisition positions KRN to target ₹160 Cr revenue from the Bus AC segment by FY27, entering the larger ₹1,000 Cr+ Bus AC market. The company also secured a notable ₹20 Cr data-center cooling order, adding 70+ new customers in FY26.

Management expects to scale the new plant to ~50% utilization, further boost Bus AC production, and expand export revenue to 30-50% of the mix. Anticipated PLI and Rajasthan RIPS approvals are expected to enhance profitability, leveraging new capacities amidst strong demand from data centers, infrastructure, and mobility.