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RIIs | NIIs | QIBs | Eligible employees |About KRN Heat Exchanger and Refrigeration Limited
KRN Heat Exchanger and Refrigeration Limited is a prominent manufacturer of fin and tube-type heat exchangers for the HVAC&R industry. The company's product lineup includes condenser coils, evaporator units, and various other components made primarily from copper and aluminium, tailored to client specifications with tube diameters ranging from 5MM to 15.88 MM.
KRN's products are utilised in a wide range of applications including residential and commercial air conditioning, refrigeration for food and beverages, and specialised cooling systems for data centres and medical equipment. To ensure longevity and efficiency, the company applies advanced protective coatings like nano and powder coatings to critical parts.
Manufacturing is conducted at KRN's extensive facilities located in the RIICO Industrial Area, Neemrana, Rajasthan. These plants are equipped with state-of-the-art technology to maintain high standards of quality and productivity. KRN holds several key certifications such as ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, and others, reflecting its commitment to quality and environmental management.
Industry Outlook:
- The Indian HVAC market is poised for robust growth, with projections to expand from USD 7.8 billion in 2021 to USD 27.4 billion by 2030, driven by a 15% CAGR.
- India's heat exchanger market is recovering post-COVID-19, with revenues rising to USD 625 million in 2022 and expected growth of 11% annually, reflecting a resilient demand rebound.
KRN Heat Exchanger and Refrigeration Limited IPO Details
KRN Heat Exchanger and Refrigeration Limited IPO Dates
The exact dates are yet to be announced.
KRN Heat Exchanger and Refrigeration Limited IPO Price Band
The exact price range is yet to be announced.
KRN Heat Exchanger and Refrigeration Limited IPO Lot Size
The exact lot size is not announced yet.
KRN Heat Exchanger and Refrigeration Limited IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding will be directed to KRN HVAC Products Private Limited to establish a new manufacturing facility in Neemrana, Alwar, Rajasthan for the Proposed Project.
- Additional funds will be allocated for general corporate purposes.
Peer Details
KRN Heat Exchanger and Refrigeration does not have any listed peers which are directly comparable.
How to Check the Allotment Status of the KRN Heat Exchanger and Refrigeration Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the Individual order details page of the IPO that you had applied for.
- Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Contact Details of KRN Heat Exchanger and Refrigeration Limited IPO
- Registered office: Plot No. F - 46, 47, 48, 49 EPIP, RIICO Industrial Area, Neemrana, Alwar Rajasthan 301705, India
- Phone: +91 – 9257025440
- E-mail:cs@krnheatexchanger.com
IPO Financials
| Particulars | For the period Ended on September 30, 2023 | Year ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|---|
| Total Revenue (in ₹ lakh) | 16,285.31 | 24,988.51 | 15,822.53 | 7,680.95 |
| Profit After Tax (PAT) (in ₹ lakh) | 1,932.97 | 3,231.35 | 1,059.04 | 246.56 |
| Cash & Cash Equivalents (in ₹ lakh) | 458.17 | 745.70 | 536.05 | 21.02 |
| Net Worth (in ₹ lakh) | 7,957.08 | 5,957.01 | 2,553.15 | 1,306.02 |
| Debt to Equity Ratio(x) | 0.57 | 0.62 | 0.87 | 1.27 |
| Return on Equity (%) | 27.78% | 75.94% | 54.88% | 23.01% |
| Return on Capital Employed (RoCE) (%) | 23.53% | 50.46% | 34.65% | 15.75% |
| Earning Per Share (EPS)-in absolute ₹ | 4.39 | 7.34 | 2.41 | 0.56 |
Know before investing
Strengths
3-
KRN Heat Exchanger and Refrigeration Limited exhibits robust financial performance, with a substantial revenue increase to ₹16,064.24 lakh in 2023, demonstrating a CAGR growth of 48.34% over the past three years, indicating strong market demand and effective business strategies.
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The company has established an extensive manufacturing capability at its RIICO industrial area facility in Neemrana, fully equipped for end-to-end production, which enables control over quality and cost advantages over competitors who outsource production stages.
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KRN maintains a comprehensive in-house quality management system with 41 dedicated employees, ensuring product excellence through multi-level checks such as Helium and Water Leak Tests, contributing to a consistent reputation for quality and reliability in the market.
Risks
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KRN Heat Exchanger and Refrigeration Limited plans to invest ₹22,688.54 lakhs in a new manufacturing facility. However, delays or cost overruns in machinery acquisition and construction could significantly exceed the budgeted ₹24,410.98 lakhs, impacting financial stability.
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The company derives substantial revenue from a few key customers, with 75.94% from the top 10 in 2023. Any loss or reduction in orders from these customers could materially harm business and financial outcomes.
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80.58% of the company's raw materials were imported as of September 2023. Any new import restrictions or tariffs could escalate costs and disrupt supply chains, adversely affecting operations and profitability.
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KRN Heat Exchanger and Refrigeration IPO FAQs
KRN Heat Exchanger and Refrigeration IPO is a book-built IPO. The exact dates and price range are yet to be announced.
The exact dates and price range are yet to be announced.
The IPO subscription window is not announced yet.
Retail investors can apply for a minimum of one lot. However, the lot size has not been announced yet.
The exact date is not announced yet.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the individual order details page of the IPO that you had applied for.
- Check the IPO allotment status as such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The exact date is not announced yet.
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