KRN Heat Exchanger and Refrigeration Limited
5,299words
9turns
0analyst exchanges
0executives
Key numbers — 35 extracted
rs,
18.65%
16.02%
34.85%
35.59%
22.56%
0.58%
3.77%
3.85%
1 Million
10.60%
12.38%
Guidance — 12 items
Area
opening
“Since 2020 31 Geographical Wise Revenue Breakup FY25 In % FY24 In % FY23 In % 15.69 14.68 84.31 85.26 Particulars Domestic Sales Export Sales Total Domestic Sales Export Sales FY25 362.40 67.45 429.85 The FY23 figures are standalone, while the FY24 and FY25 figures are consolidated.”
Area
opening
“Investor Presentation 11.40 88.53 FY24 262.85 45.27 308.28 FY23 219.10 28.20 247.48 In ₹ Cr 32 Continent Wise Revenue Breakup FY25 12.84 In % FY24 In % FY23 In % 17.48 22.03 13.79 21.62 Particulars Asia North America & South America Europe Oceania Total Export Revenue 51.75 23.55 58.97 26.73 Asia North America & South America Europe Oceania FY25 34.90 14.58 9.30 8.66 67.45 FY24 26.69 10.66 7.91 0.00 45.27 The FY23 figures are standalone, while the FY24 and FY25 figures are consolidated.”
Area
opening
“The Indian HVAC market is projected to reach $30 billion by 2030, growing at a CAGR of 15.8%, offering substantial opportunities for both local and international manufacturers.”
Area
opening
“Source: ITD Investor Presentation 35 Growth Forecast In Indian Finned Tube Heat Exchanger Market”
Market Growth Projection
opening
“The Indian heat exchanger tubes market is expected to grow from USD 856.4 million in 2024 to USD 1,428.4 million by 2033, at a CAGR of 5.6%.”
Government Initiatives
opening
“Government programs like SECI’s planned 500-MW concentrated solar-thermal project are boosting demand for advanced heat exchanger tubes, supporting renewable energy infrastructure growth.”
Government Initiatives
opening
“Source: imarc Investor Presentation 36 Financial Overview Key Financial Statement Total Income EBITDA EBITDA Margin% Net Profit Net Profit % 441.71 70.51 313.74 49.09 250.02 39.39 33.55 58.45 52.88 19.83 18.96 16.40 13.42 12.55 11.97 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 Note: EBITDA and EBITDA margin computed on Revenues.”
Government Initiatives
opening
“The FY23 figures are standalone, while the FY24 and FY25 figures are consolidated.”
Government Initiatives
opening
“The FY23 figures are standalone, while the FY24 and FY25 figures are consolidated.”
Government Initiatives
opening
“Investor Presentation 41 Key Ratios 57.95 ROE 30.23 (In %) 48.57 ROCE 26.39 FY23 FY24 10.60 FY25 FY23 FY24 (In %) 12.38 FY25 Debt to Equity Ratio (In Times) Interest Coverage Ratio (In Times) 0.63 0.46 14.47 13.66 19.31 FY23 FY24 The FY23 figures are standalone, while the FY24 and FY25 figures are consolidated.”
Risks & concerns — 1 flagged
These tests encompass the Helium Leak Test, Water Leak Test, Contamination Test, Salt Spray Testing, Burst Pressure Testing, and Pressure Cyclic Testing.
— Product Design
Speaking time
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Opening remarks
Product Design
Continuous investment in product design and development. Investor Presentation 27 Advanced Coatings For Heat Exchanger Durability Nano Coating Powder Coated with Nano Coating Bly Gold Coating To enhance the longevity and corrosion resistance of heat exchangers and their components, advanced coatings such as nano coating and powder coating are applied to surfaces including copper tubes, brazing joints, and fin sheets. Investor Presentation Nano coating provides a thin, protective layer at the nanoscale, offering enhanced corrosion resistance, improved longevity, self-cleaning properties, and reduced fouling. This coating helps prevent corrosive elements from reacting with the metal, extends component life, and reduces maintenance needs. Powder coating, on the other hand, involves electrostatically applying a dry powder that is then cured under heat, resulting in a durable, scratch-resistant, and corrosion-resistant finish It ensures uniform coverage, even on complex shapes, and allows f
Area
1,00,000 Sq.ft Investor Presentation 30 Trusted By Industry Titans: Marquee Clients Daikin Airconditioning India Private Limited (since 2018) Schneider Electric IT Business India Private Limited (since 2019) Kirloskar Chillers Private Limited (since 2020) Climaventa Climate Technologies Private Limited (since 2021) Knorr-Bremse India Private Limited Since 2020 Blue Star Limited (since 2021) Carrier Air Conditioning & Refrigeration Limited Since 2019 Investor Presentation Voltas Limited Since 2019 Trosten Industries Company LLC. Since 2020 31 Geographical Wise Revenue Breakup FY25 In % FY24 In % FY23 In % 15.69 14.68 84.31 85.26 Particulars Domestic Sales Export Sales Total Domestic Sales Export Sales FY25 362.40 67.45 429.85 The FY23 figures are standalone, while the FY24 and FY25 figures are consolidated. Investor Presentation 11.40 88.53 FY24 262.85 45.27 308.28 FY23 219.10 28.20 247.48 In ₹ Cr 32 Continent Wise Revenue Breakup FY25 12.84 In % FY24 In % FY23 In % 17.48 22.03 13.79 21
Market Growth Projection
The Indian heat exchanger tubes market is expected to grow from USD 856.4 million in 2024 to USD 1,428.4 million by 2033, at a CAGR of 5.6%. Renewable Energy
Investments
Rising investments in solar, wind, and biomass projects are driving demand for heat exchanger tubes, especially in CSP and geothermal systems where efficient energy transfer is critical. Technological
Advancements
Material and manufacturing innovations are enhancing tube performance and durability, meeting the growing need for efficient solutions in chemicals, petrochemicals, and renewable energy.
Government Initiatives
Government programs like SECI’s planned 500-MW concentrated solar-thermal project are boosting demand for advanced heat exchanger tubes, supporting renewable energy infrastructure growth. Source: imarc Investor Presentation 36 Financial Overview Key Financial Statement Total Income EBITDA EBITDA Margin% Net Profit Net Profit % 441.71 70.51 313.74 49.09 250.02 39.39 33.55 58.45 52.88 19.83 18.96 16.40 13.42 12.55 11.97 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 Note: EBITDA and EBITDA margin computed on Revenues. The FY23 figures are standalone, while the FY24 and FY25 figures are consolidated. Investor Presentation 38 All Amount In ₹ Cr & Margins In % Profit & Loss Statement Particulars Revenues Other Income Total Income Raw Material Employee costs Other expenses Total Expenditure EBITDA EBIDTA (%) Finance Costs Depreciation PBT Tax Net Profit Total Comprehensive Income For The Year Net Profit Margin (%) FY25 429.85 11.86 441.71 318.94 21.09 19.31 359.34 70.51 16.40 3.41 4.63 74.32 2