KRN Heat Exchanger And Refrigeration Ltd Q4 FY25 Results

FY25 has been a landmark year for KRN, with strong operational performance and key milestones. We maintained capacity utilization above 90%, reflecting healthy demand and efficient execution. During the year, we operationalized our bar-plate facility and launched a dedicated R&D arm to drive innovation. Our focus on efficiency also progressed well, with solar integration, automation, and ERP implementation enhancing transparency, cost control, and discipline. These structural improvements are set to boost our margin profile over the coming years. Looking ahead, commercial production at our Neemrana plant under KRN HVAC is expected in Q2 FY26. This facility, with a sixfold capacity increase, will support entry into high-growth sectors like railway electrification, heavy equipment, and industrial cooling. We aim to scale capacity utilization to 80-85% over the next three years, supported by a strong order pipeline and our MoU with the Rajasthan government. Sectoral demand remains robust, particularly in cold storage, data centers, and commercial cooling. Export opportunities, especially in North America, are improving due to favorable tariff changes. Our recent entry into the bar & plate segment is also gaining momentum in railway and industrial applications. With these tailwinds and our growing capabilities, KRN is well-positioned to tap emerging opportunities in energy-efficient infrastructure, both in India and globally.