KRN Heat Exchanger IPO: Rajasthan-Based HVAC&R Manufacturer
- Share.Market
- 2 min read
- 25 Sep 2024
KRN Heat Exchanger, based in Rajasthan, specializes in manufacturing fin and tube-type heat exchangers for the heating, ventilation, air conditioning, and refrigeration (HVAC&R) industry.
KRN Heat Exchanger And Refrigeration Limited was founded in August 2017. It manufactures heat exchangers in various shapes and sizes, depending on customer requirements and/or market demand.
Its manufacturing facility is situated in Neemrana, Rajasthan, over an aggregated area of 7,800 sq. mt.
Product Offered by KRN Heat Exchanger
The company offers a wide range of products like:
- Copper tubes: Aluminum or copper fins
- Fin spacing: Anti-corrosion coated fins
- Painted coils
- Standard and customized coils in any dimension and capacity.
KRN Heat Exchanger IPO Objectives
Invest in the wholly owned subsidiary, KRN HVAC Products Pvt Ltd for setting up a new manufacturing facility at Neemrana, Alwar, Rajasthan, and general corporate purposes.
| IPO Date | September 25, 2024 to September 27, 2024 |
| Listing Date | Thursday, October 3, 2024 (Tentative) |
| Face Value | ₹10 per share |
| Price Band | ₹209 to ₹220 per share |
| Lot Size | 65 Shares |
| Total Issue Size | 15,523,000 shares (aggregating up to ₹341.51 Cr) |
| Fresh Issue | 15,523,000 shares (aggregating up to ₹341.51 Cr) |
| Offer for Sale | Nil |
KRN Heat Exchanger Financials
Here are the financial details of the company:
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Revenue | 313.54 | 249.89 | 158.23 |
| Profit After Tax | 39.07 | 32.31 | 10.59 |
Note: In ₹ Crore
Product Revenue Mix
| Product | Amount (FY 23-24, Consolidated) | % of total revenue (FY 23-24) |
| Evaporator Coils | 11,558.70 | 37.49% |
| Condenser Coils | 17,029.57 | 55.24% |
| Headers/Copper Parts | 467.81 | 1.52% |
| Sheet Metal Parts | 14.10 | 0.05% |
| Other Operating Revenue* | 1,758.13 | 5.70% |
| Total Revenue | 30,828.31 | 100.00% |
Imports vs Exports
| Domestic Sales | 85.32% |
| Exports | 14.68% |
Which countries does KRN Heat Exchange export their products to?
The company also export products overseas to countries including UAE, USA, Italy, Saudi Arabia, Norway, Czech Republic, Germany, UK, and more
Clients of KRN Heat Exchange
- Daikin Airconditioning India Pvt Ltd
- Schnieder Electric IT Business India Pvt Ltd
- Kirloskar Chillers Private Ltd, Blue Star Ltd
- Climaventa Climate Technologies Pvt Ltd
- Frigel Intelligent Cooling Systems India Pvt Ltd
Key Strengths of KRN Heat Exchange
These are a few of the strengths of the company:
- Over 20+ years of industry experience
- Long‐standing business relationships with leading clients
- The promoters have a strong leadership personality and are supported by a highly experienced management team
- Effective quality controls
- Consistent financial performance
- Established production facility
- Offers a wide variety of product range
