KRN Heat Exchanger and Refrigeration Limited Approves Quarter Results; Appoints Cost and Internal Auditors

KRN Heat Exchanger and Refrigeration Limited Approves Quarter Results; Appoints Cost and Internal Auditors​

KRN Heat Exchanger and Refrigeration Limited has announced the approval of its unaudited consolidated and standalone financial results for the quarter ended June 30, 2026. The company also formalized key management appointments, appointing a new Cost Auditor and an Internal Auditor for the financial year 2026-27.

The Board of Directors approved the quarterly performance metrics, alongside a Limited Review Report issued by the Statutory Auditors. KRN, which specializes in manufacturing fin and tube type heat exchangers for the Heat Ventilation Air Conditioning and Refrigeration (HVAC&R) industry, showcased segmented revenue streams from both domestic and international markets during the period.

Financial Performance Snapshot​

The company's consolidated financial results showed a Total Income of 25,509.46 Lakhs for the quarter ending June 30, 2026. The Net Profit attributable to the owner of the company stood at 3,269.56 Lakhs. Total Comprehensive Income for the period was recorded at 3,274.89 Lakhs.

A detailed look at the consolidated performance across various quarters is provided in the table below:

Segment and Geographical Revenue Analysis​

The company's operations were segmented into India and Overseas markets. For the quarter ended June 30, 2026, the total segment revenue amounted to 25,231.70 Lakhs. The Indian market contributed 19,994.00 Lakhs of this revenue, while the Overseas segment generated 5,237.70 Lakhs.

The country wise export revenue totaled 5,237.70 Lakhs for the quarter, with significant contributions from several key markets:

• USA: 1,706.88 Lakhs
• France: 1,037.75 Lakhs
• United Arab Emirates: 594.09 Lakhs
• Italy: 564.72 Lakhs

Key Management and Financial Transactions​

The Board of Directors formally approved the appointment of external auditors for the financial year 2026-27, based on recommendations from the Audit Committee.

M/s R S Chauhan & Associates (FRN: 003517) was appointed as the Cost Auditor, effective August 12, 2026. M/s Sharma Shankar & Co. (FRN: 019317C) was appointed as the Internal Auditor for the same financial year.

Regarding capital structure and fund utilization, the company reported that during the quarter, it completed a Qualified Institutions Placement (QIP). The proceeds from the QIP amounted to approximately 34,999.99 Lakhs, with net proceeds of 34,179.48 Lakhs after deducting issue expenses. This amount was fully utilized against planned purposes, including repayment of borrowings (3,000.00 Lakhs), investment in the subsidiary KRN HVAC Products Private Limited (23,525.75 Lakhs), and general corporate purposes (7,653.73 Lakhs).

Subsidiary Performance Details​

The accompanying financial results included details of two subsidiaries: KRN HVAC Products Private Limited and Thermotech Research Laboratory Private Limited. The unaudited interim financial results for these subsidiaries reflected a total income of 16,718.73 Lakhs, a total profit after tax of 1,422.72 Lakhs, and a total comprehensive income of 1,419.39 Lakhs for the quarter ended June 30, 2026.

KRN Stock Price Movement​

KRN Heat Exchanger and Refrigeration Limited shares gained 3.67% on Wednesday, closing at ₹1331.90 after climbing ₹47.30 from previous levels. The stock traded within a daily range of ₹1294 to ₹1345 and registered a volume of 341,240 shares during the session.