This recent IPO stock has surged to 7.40% after stock showed better than expected results for Q2 FY25. KRN Heat Exchanger, which leads India’s HVAC industry with six cutting-edge product lines, from evaporator coils to sheet metal parts, serves diverse industrial needs with precision-engineered thermal management solutions and has delivered stellar performance even after IPO listing gain of 118.18 percent.
Share Price Movement
The share price of KRN Heat Exchanger and Refrigeration Limited went up by 7.4 percent to Rs. 577.30 per share on Thursday, a significant rise from its previous close of Rs. 537.50 per share. The market capitalisation now stands at approximately Rs. 3,588 crore as of November 07, 2024.
What Happened
KRN Heat Exchanger and Refrigeration Limited’s stock price surged 7.40% following Jump in Q2 FY25 results.
According to its recent filing, in the quarter ending September 2024, KRN Heat Exchanger and Refrigeration Limited’s consolidated revenue from operations has increased by 27.95 percent YOY, from Rs. 71 crore in Q2 FY24 to Rs. 91 crore in Q2 FY25.
The company’s consolidated net profit has increased by 42.98 percent, from Rs. 8 crore in Q2 FY24 to Rs. 12 crore in Q2 FY25.
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Product Wise Revenue Breakup
Condenser coils dominate KRN’s revenue portfolio at 55.24% in FY24, followed by evaporator coils at 37.49%. Headers and copper parts contribute 1.52%, while sheet metal parts account for 0.05%. Other operating revenue comprises 5.70% of total earnings.
Shareholding Pattern
As of the November 2024 shareholding pattern, KRN Heat Exchanger and Refrigeration Limited is primarily held by the promoter with 70.79 percent, foreign institutional investors hold 4.05 percent, and the public by 17.80 percent.
About the company
KRN Heat Exchanger and Refrigeration Ltd has emerged as a powerhouse in India’s HVAC manufacturing sector since its establishment in 2017. Moreover, the company’s state-of-the-art facility in Neemrana, Rajasthan, spans an impressive 150,000 square feet.
Subsequently, the company demonstrates remarkable growth through its diverse product portfolio. KRN manufactures advanced heat exchangers, evaporator units, and condenser coils, serving industry giants like Daikin and Carrier. Furthermore, their production capacity exceeds one million units annually, utilising cutting-edge technology for precision engineering. Additionally, the company’s commitment to customisation sets them apart, addressing specific client requirements across various sectors.
KRN’s financial trajectory shows promising developments. The company successfully transitioned to public status in 2023, with revenue projections reaching ₹308 crore for FY24. Additionally, their international presence continues to expand, with exports growing from 10% to 15%.
Written By Fazal Ul Vahab C H
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