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    KRN Heat Exchanger and Refrigeration Limited

    Manufactures heat exchangers and integrated HVAC&R systems from two Neemrana, Rajasthan plants for global cooling markets.

    Capital Goods
    Industrials
    View KRN earnings calls
    ₹1,249.9
    +4.37% from avg

    Overview

    Price

    ₹1,249.9

    Market Cap

    ₹8.1k Cr

    Sector

    Capital Goods

    Industrials

    Rank

    2

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY24FY25FY26FY26
    LiabilitiesEquity Capital46626262
    Reserves84436466512
    Borrowings873330187
    Other Liabilities4063170171
    Total Liabilities257595729932
    AssetsFixed Assets8285283314
    CWIP4821133
    Investments0000
    Other Assets171428434585
    Total Assets257595729932

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY24FY25FY26
    ActivitiesCash from Operating1721-114
    Cash from Investing-64-279-34
    Cash from Financing50258148
    SummaryCapital Expenditure
    Free Cash Flow-41-65-312
    FCF Margin

    Valuation

    Assumptions

    Current — KRN
    Price
    ₹1,250
    EPS (TTM)
    ₹12.31
    PE (TTM)
    101.5
    Profit growth
    43.4%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (81.5×) and current (101.5×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹1,250
    vs
    Fair value · 15% return
    ₹3,042
    143%Undervalued

    At 43.4% growth and a 82× exit, ₹1250 only delivers your return if you pay ₹3,042. The price is currently baking in 22% growth.

    EPS grows 43.4%/yr for 5 years, then fades to 6% over 2, exits at 82×.

    YearGrowthEPS (₹)
    FY2743.4%17.65
    FY2843.4%25.31
    FY2943.4%36.30
    FY3043.4%52.05
    FY3143.4%74.65
    FY3224.7% ·fade93.08
    FY336.0% ·fade98.67

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

    Learn to analyse KRN Heat Exchanger and Refrigeration Limited

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