Jaipur (Rajasthan) [India], May 16: KRN Heat Exchanger and Refrigeration Limited, one of India’s growing manufacturers and exporters of aluminium/copper fins, copper tube heat exchangers, condenser coils, evaporator coils, and water coils, has announced its audited financial results for Q4 and full-year FY26, reporting strong growth across revenue, profitability, exports, and operational expansion.
Listed on both the BSE and NSE, the company delivered significant year-on-year improvement in consolidated performance, supported by increased production capacity, rising export demand, and improved operating efficiencies.
Strong Consolidated Financial Performance in FY26
For the full financial year FY26, the company reported:
Total Consolidated Income: ₹609.81 Crore
(Up 38.06% YoY)
EBITDA: ₹112.48 Crore
(Up 59.52% YoY)
EBITDA Margin: 18.74%
(Improved by 234 basis points YoY)
Net Profit: ₹76.47 Crore
(Up 44.62% YoY)
Net Profit Margin: 12.54%
(Improved by 57 basis points YoY)
Diluted EPS: ₹12.30
(Up 26.15% YoY)
The company’s Q4 FY26 consolidated performance also reflected strong momentum:
Q4 Total Income: ₹181.40 Crore
(Up 33.55% YoY)
Q4 EBITDA: ₹33.55 Crore
(Up 77.56% YoY)
Q4 Net Profit: ₹23.36 Crore
(Up 57.14% YoY)
Management attributed the performance to:
Capacity expansion
Higher operational efficiencies
Improved product mix
Increasing export demand
Better utilization of manufacturing infrastructure
Export Business Expands Across Global Markets
One of the major highlights of FY26 was the company’s growing export footprint.
KRN Heat Exchanger and Refrigeration recorded:
Export revenue of approximately ₹99 Crore across 18 countries.
Key international markets included:
UAE — 37.9%
USA — 31.1%
Italy — 13.3%
The company’s growing international demand reflects rising global opportunities in:
HVAC systems
Refrigeration infrastructure
Industrial cooling solutions
Energy-efficient heat exchange technologies
Industry analysts believe increasing global demand for energy-efficient cooling infrastructure is creating strong export opportunities for Indian component manufacturers.
Major Capacity Expansion Strengthens Balance Sheet
The company also reported substantial growth in its asset base during FY26.
Key balance sheet highlights include:
Total Assets: Approximately ₹932 Crore
(Up 57% YoY)
Property, Plant & Equipment (PP&E): Approximately ₹314 Crore
(Up nearly 268% YoY)
The sharp increase reflects:
Commissioning of new manufacturing facilities
Ongoing infrastructure investments
Capacity enhancement initiatives
The expansion is expected to support:
Higher production capabilities
Larger export volumes
Improved operating leverage
Future revenue scalability
Standalone Financial Performance
On a standalone basis, the company reported:
FY26 Standalone Highlights:
Total Income: ₹689.95 Crore
(Up 57.36% YoY)
EBITDA: ₹84.79 Crore
(Up 19.41% YoY)
Net Profit: ₹71.31 Crore
(Up 42.11% YoY)
Diluted EPS: ₹11.47
(Up 24% YoY)
While standalone EBITDA margins moderated due to operational scaling and facility expansion costs, the company maintained strong profitability growth during the year.
New CFO Appointment
As part of its leadership strengthening strategy, the company also announced the appointment of:
Pawan Nawal
as the new Chief Financial Officer with effect from May 15, 2026.
The appointment comes during a period of:
Rapid business scaling
Expansion of manufacturing infrastructure
Increasing international operations
Strengthening corporate governance systems
Management Commentary
Commenting on the company’s FY26 performance,
Santosh Kumar said:
“FY26 marks a pivotal phase in KRN’s journey, reflecting a clear transition to a higher scale of operations. During the year, we delivered strong consolidated revenue growth of approximately 38% to ₹610 Crore, supported by consistent execution, improving capacity utilisation, and the initial contribution from our new facility.”
He further emphasized that profitability growth and margin expansion reflected:
Improving operational efficiency
Better execution capabilities
Strong demand momentum
Enhanced manufacturing productivity
India’s HVAC & Refrigeration Sector Continues to Grow
India’s:
HVAC
Cooling systems
Refrigeration infrastructure
Industrial climate solutions
markets are witnessing increasing demand due to:
Urban infrastructure growth
Industrial expansion
Commercial real estate development
Data centre expansion
Rising demand for energy-efficient systems
The increasing global focus on:
Sustainable cooling
Energy-efficient technologies
Smart industrial infrastructure
is also opening new opportunities for manufacturers operating in the heat exchanger ecosystem.
Industry experts believe Indian manufacturers with strong export capabilities and scalable infrastructure may benefit significantly from global supply chain diversification trends.
Future Outlook
With:
Expanded manufacturing infrastructure
Rising export contribution
Strong operational growth
Improved profitability
Increasing global demand
KRN Heat Exchanger and Refrigeration Limited is positioning itself for its next phase of expansion within both domestic and international HVAC and industrial cooling markets.
The company’s continued focus on:
Operational efficiency
Export growth
Infrastructure investment
Product scalability
Financial discipline
could further strengthen its position within India’s rapidly evolving industrial manufacturing ecosystem.
