KRN HEAT EXCHANGER AND REFRIGERATION LIMITED-HVAC and Refrigeration Innovators
KRN makes fin and tube-type heat exchangers at its Neemrana, Rajasthan facility. They supply important parts like evaporator coils, condenser coils, and sheet metal for HVAC and refrigeration systems used in homes, businesses, and industries.
What is a fin and tube heat exchanger?
These devices have fins attached to tubes, which help move heat efficiently. You see these in air conditioners and refrigerators. A car’s radiator works similarly, cooling the engine by transferring heat from the coolant through the tubes.
Key Products and Applications:
Evaporator Coils – These are used in air conditioners and fridges to pull heat from the air and transfer it to refrigerants, cooling the space. KRN made ₹11,558.70 lakhs in 2023-24 from evaporator coils, 37.49% of its total revenue.
Condenser Coils – These release heat outdoors. KRN earned ₹17,029.57 lakhs (55.24% of total revenue) from condenser coils in 2023-24.
Fluid and Steam Coils – Used in systems like heated swimming pools to keep them warm.
Condensing Units – KRN also makes systems for cold storage or ice cream factories to keep temperatures regulated.
Headers, Copper Parts, and Sheet Metal Components – Small but important parts like copper fittings added ₹467.81 lakhs in revenue (1.52% of total).
Revenue Growth:
KRN has grown steadily, earning ₹30,828.31 lakhs in 2023-24. More than 90% of this came from evaporator and condenser coils. Over the last three years, the company has seen a 25.46% annual growth rate due to high demand.
Major Clients and Global Expansion:
KRN works with big companies like Daikin, Blue Star, and Schneider Electric. They are expanding worldwide, with exports making up 15% of total revenue. Their biggest export markets are Asia (59%), North America (23.5%), and Europe (17.5%).
Risks and Challenges:
KRN depends on a few big clients like Daikin, which accounts for 33% of their revenue. Any problem with this relationship could hurt their finances. They also buy 43% of raw materials from Malaysia, which exposes them to geopolitical risks.
Conclusion:
KRN is well-positioned to continue its growth as demand for HVAC and refrigeration systems increases. The company dominates the market for evaporator and condenser coils, and its financials are strong.
KRN Heat Exchanger IPO GMP : 100%
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