KRN HEAT:

KRN

PLI, RIPS INCENTIVE BENEFITS TO SUPPORT FY27 MARGINS; FY26 MARGINS IN LINE WITH H1 FY26 margins expected to remain similar to H1 levels. US market may face challenges due to tariffs. Company projects 20–25% capacity utilisation for FY26. Bus air conditioning business expected to contribute to growth next year, with higher exports supporting margin improvement.