KRN Heat Exchanger is a fast-growing manufacturer of heat exchangers, condenser/evaporator coils and HVAC&R components.

$KRN KRN Heat Exchanger is a fast-growing manufacturer of heat exchangers, condenser/evaporator coils and HVAC&R components, benefiting from rising cooling demand, industrial capex, data centers and exports. FY26 consolidated revenue reached ₹600.1 crore, up ~40% YoY, while EBITDA rose 59.5% to ₹112.5 crore and PAT increased 44.6% to ₹76.5 crore. Latest News: Q4 FY26 revenue grew 36.5% YoY to ₹179.5 crore, with PAT rising 57.1% to ₹23.4 crore. The company is benefiting from healthy domestic/export demand and capacity expansion. A recent domestic order worth about ₹50.9 crore for heat-exchanger coils provides additional order visibility. With strong growth, improving margins, export opportunities and increasing demand from HVAC, refrigeration and data-center cooling, KRN offers attractive structural growth potential; however, valuation, execution and raw-material price volatility remain key risks.