KRN Heat Exchanger And Refrigeration Ltd

KRN Heat Exchanger And Refrigeration Ltd has submitted its Annual Report for the Financial Year 2025-26, coinciding with the announcement of its 9th Annual General Meeting (AGM). The AGM is scheduled for September 25, 2026, and will be conducted via Video Conferencing (VC)/ Other Audio Visual Means (OAVM). The report details the company's performance, strategic initiatives under the theme 'Expand. Emerge. Evolve.', and its global expansion efforts. Key sections include corporate overview, business excellence, sustainability initiatives, governance, and detailed financial statements. The company has set September 18, 2026, as the cut-off date for remote e-voting, which will be open from September 22 to September 24, 2026.

KRN Heat Exchanger and Refrigeration Ltd has announced its 9th Annual General Meeting (AGM) will be held on Friday, September 25, 2026, at 3:00 PM IST. The meeting will be conducted virtually through Video Conferencing (VC) and Other Audio Visual Means (OAVM). The company will present audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026. Key agenda items include the appointment of a director retiring by rotation and the ratification of remuneration for the Cost Auditor. Special business includes approving revised remuneration for the Chairman and Managing Director. The cut-off date for e-voting eligibility is September 18, 2026.

KRN Heat Exchanger and Refrigeration Limited announced robust Q1 FY27 financial results, with consolidated revenue surging 118.87% year-on-year to ₹252.32 Cr. EBITDA and Net Profit also saw significant increases of 178.85% and 164.84% respectively. The company highlighted strong export growth, with overseas revenue up 177.31% and reaching 14 countries. Key business highlights include the completion of a ₹350 Cr Qualified Institutions Placement (QIP) and the sanction of an ₹182.95 Cr incentive for its Neemrana facility. IPO proceeds have been fully utilized. The company also appointed a new CFO and secured a domestic supply order post-quarter.

KRN Heat Exchanger and Refrigeration Ltd has released the Monitoring Agency Report for the quarter ended June 30, 2026, concerning the utilization of its Initial Public Offer (IPO) proceeds. The report, issued by Crisil Ratings Limited, confirms that there have been no deviations from the stated objects of the issue. The IPO, which concluded on December 27, 2024, raised gross proceeds of ₹34,194.60 lakhs, with net proceeds amounting to ₹31,111.66 lakhs after accounting for issue expenses. The company will also upload this report on its website.

KRN Heat Exchanger and Refrigeration Ltd has submitted its Monitoring Agency Report for the quarter ended June 30, 2026. Issued by Crisil Ratings Limited, the report confirms that the utilization of Qualified Institutional Placement (QIP) proceeds was in line with the objects disclosed in the offer document. The QIP raised gross proceeds of ₹34,999.99 lakhs and net proceeds of ₹34,179.48 lakhs. The funds were primarily used for repayment of borrowings and working capital requirements. The company has also uploaded the report on its website.

KRN Heat Exchanger and Refrigeration Limited has confirmed no deviation or variation in the utilization of funds raised through its Initial Public Offer (IPO). The statement, reviewed by the Audit Committee for the quarter ended June 30, 2026, indicates that all funds raised amounting to ₹341.94 Crore were utilized as per the original objects. Key allocations include investment in a wholly-owned subsidiary for a new manufacturing facility and general corporate purposes, with no discrepancies noted.

KRN Heat Exchanger and Refrigeration Ltd has confirmed no deviation or variation in the utilization of funds raised through its Qualified Institutional Placement (QIP) issue. The statement, reviewed by the Audit Committee for the quarter ended June 30, 2026, indicates that all funds raised amounting to INR 349.99 Crore have been utilized as per the original objects. The funds were allocated for repayment of borrowings, investment in its subsidiary KRN HVAC Products Private Limited for working capital, and general corporate purposes. The company's Chief Financial Officer, Pawan Nal, signed the confirmation on August 12, 2026.

KRN Heat Exchanger and Refrigeration Ltd announced changes in its auditing team during a Board of Directors meeting held on August 12, 2026. The company approved the unaudited financial results for the quarter ended June 30, 2026, reporting a consolidated revenue of ₹25,231.70 Lakhs and a profit after tax of ₹3,289.56 Lakhs. M/s. R S Chauhan & Associates have been appointed as the Cost Auditor for FY 2026-27, and M/s. Sharma Shankar & Co. as the Internal Auditor for the same financial year. The company also provided details on the utilization of funds from its recent Qualified Institutions Placement (QIP).

KRN Heat Exchanger and Refrigeration Ltd announced its unaudited financial results for the first quarter of FY27 ended June 30, 2026. The company reported a total income of ₹25,509.46 Lakhs, with revenue from operations standing at ₹25,231.70 Lakhs. Profit Before Tax (PBT) was ₹4,233.08 Lakhs, and Profit After Tax (PAT) was ₹3,274.89 Lakhs. The company also approved the appointment of a Cost Auditor and an Internal Auditor for the Financial Year 2026-27. Key financial highlights include a significant increase in revenue compared to the previous year's quarter. The company also provided details on IPO and QIP fund utilization, with a substantial portion invested in its subsidiary for a new manufacturing facility and working capital.

KRN's consolidated Q1FY27 print — revenue ₹252.32 Cr (+118.9% YoY, +40.6% QoQ) and PAT ₹32.90 Cr (+164.9% YoY, +40.8% QoQ) — clears the pre-result Street bar comfortably. Our preview had flagged ₹125–150 Cr revenue and 9–12% NPM/13–16% OPM as the expectation going in; the actual print (OPM 19.4%, NPM 12.9%) beats every metric in that range, and revenue alone is 68–100% above the top of the expected band. Against management's own Q4FY26 guidance — 50% utilisation at the new facility, doubling export revenue, and only "slight" margin improvement — the company has already overshot on exports (₹52.38 Cr this quarter vs ₹18.89 Cr a year ago, +177% YoY, well past a doubling) and on margins (OPM +418bps YoY, not slight) inside the very first quarter of the guided year. The margin bridge sits mostly on operating leverage from the new Neemrana subsidiary rather than the parent: standalone OPM is 13.6% and NPM 10.1%, both well below the consolidated 19.4%/12.9%, meaning the higher-margin incremental volume is coming from the group's new capacity, not the existing standalone business. That also explains why standalone growth (+59% revenue, +19% PAT YoY) looks far more ordinary than the headline consolidated numbers — readers should anchor on the group figure as primary but not mistake it for organic parent-level growth. Corporate developments this quarter tie directly into the ramp story: both the ₹311.12 Cr IPO proceeds and the ₹341.79 Cr QIP raised in May–June 2026 are now fully utilised with no deviation flagged, funding the Neemrana facility and subsidiary working capital that are already showing up in this quarter's output. The board also appointed new cost and internal auditors for FY27, a routine governance item. No standalone management press release/commentary was available beyond the board-outcome filing, so there is no separate management framing to reconcile against the numbers this quarter. What carries forward: the filing doesn't disclose an explicit capacity-utilisation percentage or a data-center-cooling revenue split, so the next print needs to make that ramp trajectory and mix explicit rather than inferred from segment/subsidiary totals.