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KRN Heat Exchanger and Refrigeration Limited Q2 FY26 earnings call summary

NSE: KRN · BSE: 544263

Earnings call of 6 Nov 2025, summarised by AI from the filing.

KRN reported Q2 FY26 standalone revenue of ₹227.22 cr (+126% YoY) and guides 20% utilization of new capacity this year, 50% next year.

Key takeaways

  1. Guidance New capacity utilization targeted at 20% this year and 50% next year; EBITDA margin around 20% sustainable.
  2. Change Acquired bus air conditioning business to expand into automotive HVAC.
  3. Driver Export demand from UAE, USA, Canada, and Italy, plus new products like data centre cooling.
  4. Risk Raw material price fluctuations can impact margins quarter-to-quarter.

Original filing on BSE

KRN Heat Exchanger and Refrigeration Limited Q1 FY27 results

As filed: Revenue ₹252 cr (+119% year on year), EBITDA ₹49.1 cr (+189% year on year), PAT ₹32.9 cr (+174% year on year), EBITDA margin 19.4% (+466 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹179 cr (+36% year on year), EBITDA ₹33.5 cr (+77% year on year), PAT ₹23.4 cr (+56% year on year), EBITDA margin 18.7% (+429 bps). Score 91 of 100, Above trend. EBITDA margin rose 429 bps year on year. Tax rate 13%. Not enough history for a trend yet: scored on growth alone. Share price after the results: +6.6% in 29 days (Nifty 500: −0.1%).
  • Q3 FY26: Revenue ₹153 cr (+38% year on year), EBITDA ₹31.1 cr (+107% year on year), PAT ₹22.7 cr (+62% year on year), EBITDA margin 20.3% (+676 bps). Score 93 of 100, Above trend. EBITDA margin rose 676 bps year on year. Tax rate 12%. Not enough history for a trend yet: scored on growth alone. Share price after the results: +37.6% in 28 days (Nifty 500: −4.1%).
  • Q2 FY26: Revenue ₹152 cr (+67% year on year), EBITDA ₹31.0 cr (+72% year on year), PAT ₹18.0 cr (+50% year on year), EBITDA margin 20.4% (+61 bps). Score 92 of 100, Above trend. EBITDA margin rose 61 bps year on year. Not enough history for a trend yet: scored on growth alone. Share price after the results: −1.9% in 30 days (Nifty 500: +0.3%).
  • Q1 FY26: Revenue ₹114 cr, EBITDA ₹20.0 cr, PAT ₹16.0 cr, EBITDA margin 17.5%. Not scored. No result for the same quarter last year. Share price after the results: +1.4% in 29 days (Nifty 500: −2.0%).
  • Q4 FY25: Revenue ₹131 cr, EBITDA ₹21.0 cr, PAT ₹14.0 cr, EBITDA margin 16.0%. Not scored. No result for the same quarter last year. Share price after the results: −0.9% in 30 days (Nifty 500: +7.7%).
  • Q3 FY25: Revenue ₹104 cr, EBITDA ₹16.0 cr, PAT ₹13.0 cr, EBITDA margin 15.4%. Not scored. No result for the same quarter last year.
  • Q2 FY25: Revenue ₹99.0 cr, EBITDA ₹17.0 cr, PAT ₹12.0 cr, EBITDA margin 17.2%. Not scored. No result for the same quarter last year.

Past price moves after results do not indicate future moves. Not a recommendation.

KRN Heat Exchanger and Refrigeration Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.