KRN Heat Exchanger Reports Strong Q1 FY27 Results with Revenue Growth of 118.86% and EBITDA Surge
Rajasthan – August 13, 2026 – KRN Heat Exchanger and Refrigeration Limited, a manufacturer and exporter specializing in aluminium/copper fins, copper tube heat exchangers, water coils, condenser, and evaporator coils, has announced its unaudited financial results for the first quarter of FY27. The company operates within the HVAC&R industry, providing solutions used by OEMs across various sectors.The Q1 FY27 results demonstrate robust growth across both standalone and consolidated segments, reflecting strong demand for their products in both domestic and international markets.
Financial Performance Overview (₹ Cr)
KRN Heat Exchanger reported significant figures during the quarter. The company’s revenue from operations surged impressively on a consolidated basis.The following table details the key financial metrics for KRN across Q1 FY27, comparing results against previous periods:
| Particulars (₹ Cr) | Standalone Q1 FY27 | Standalone Q1 FY26 | Consolidated Q1 FY27 | Consolidated Q1 FY26 |
|---|---|---|---|---|
| Revenue From Operations | 181.97 | 114.40 | 252.32 | 115.28 |
| EBITDA | 24.67 | 19.79 | 49.06 | 17.59 |
| EBITDA Margin (%) | 13.56% | 17.30% | 19.44% | 15.26% |
| Net Profit | 18.67 | 15.69 | 32.90 | 12.42 |
| Net Profit Margin (%) | 10.26% | 13.71% | 13.04% | 10.77% |
| Diluted EPS (₹) | 2.95 | 2.52 | 5.20 | 2.00 |
Key Business and Operational Highlights for Q1 FY27
KRN Heat Exchanger noted several operational achievements that support its continued growth trajectory in the manufacturing sector.Consolidated Segment Growth:
- Total segment revenue reached ₹ 252.32 Cr in Q1 FY27, compared to ₹ 115.28 Cr in Q1 FY26, representing a year-on-year growth of 118.86%.
- Domestic revenue stood at ₹ 199.94 Cr, contributing 79.24% of the total segment revenue and marking a growth of 107.42% over Q1 FY26.
Export Market Performance:
- Overseas revenue increased by 177.31% year on year, reaching ₹ 52.38 Cr. This accounts for 20.76% of the total segment revenue, up from 16.38% in Q1 FY26.
- Exports were distributed 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%.
Management Perspective and Strategic Focus
Mr. Santosh Kumar, Chairman & Managing Director of KRN Heat Exchanger and Refrigeration Limited, commented on the performance, stating that the company started FY27 on a strong footing, with consolidated revenue growing by 119% year-on-year in Q1 FY27.He attributed the results to the continued strength of their business model and the expanding demand for efficient heating, ventilation, air conditioning, and refrigeration solutions. Kumar emphasized that the growth in exports was particularly encouraging, noting a 177% increase in overseas revenue across the quarter. He added that strong domestic growth provides a balanced foundation for expansion.
Moving forward, the company’s focus remains on building scale and strengthening manufacturing capabilities. Investments are being channeled into capacity enhancement, localization, and backward integration to support future growth.
Corporate Milestones
The company achieved several key corporate milestones during the quarter:| Milestone | Details |
|---|---|
| Qualified Institutions Placement (QIP) | An issue was opened on May 26, 2026, and closed on June 1, 2026. A total of 3,301,886 equity shares were allotted at ₹ 1,060 per share, aggregating ₹ 350.00 Cr. The net proceeds amounted to ₹ 341.79 Cr. |
| Rajasthan State Incentive | An incentive of ₹ 182.95 Cr was sanctioned by the Government of Rajasthan for the Neemrana facility, aiding the company's expansion and localization efforts. |
| IPO Proceeds Utilization | IPO proceeds totaling ₹ 311.12 Cr were fully utilized as of June 30, 2026. Of this amount, ₹ 235.76 Cr was invested as equity in KRN HVAC Products Pvt. Ltd. for the Neemrana facility, and ₹ 75.36 Cr was allocated to general corporate purposes. |
| Key Appointments | Mr. Pawan Nawal was appointed Chief Financial Officer and Key Managerial Personnel effective from May 15, 2026. |
| Order Win | KRN HVAC Products Pvt. Ltd. secured a domestic supply order of ₹ 50.87 Cr for heat exchanger coils on July 23, 2026. |
About the Company
KRN Heat Exchanger and Refrigeration Limited was established in 2017 in Neemrana, India. The company specializes in manufacturing aluminium and copper fin and tube heat exchangers, including condenser and evaporator coils, which are essential components for OEMs in the HVAC&R industry. Supported by an engineering team with over 20 years of experience, KRN focuses on delivering customized and durable solutions that meet international quality standards.KRN Stock Price Movement
Today, KRN Heat Exchanger and Refrigeration Limited shares surged as it closed at ₹1398.40, jumping 4.99% in post-market trading. The stock delivered a strong performance, with 58,411 shares traded today as the equity approached its crucial 52-week high mark.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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