Financial Results of the Company for the quarter and half year ended September 30, 2025
KRN · price
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KRN Heat Exchanger reported strong topline growth for Q2 FY26, with standalone revenue from operations jumping to Rs 22,342.50 lakhs from Rs 9,894.09 lakhs a year ago, roughly 126% growth. Consolidated Q2 revenue rose to Rs 15,206.82 lakhs (vs Rs 9,109.59 lakhs). For H1 FY26, standalone revenue grew ~72% to Rs 33,782.40 lakhs and consolidated revenue grew ~43% to Rs 26,735.03 lakhs. Standalone profit after tax for H1 was Rs 3,934.23 lakhs (vs Rs 2,373.43 lakhs, up ~66%), while consolidated PAT rose ~25% to Rs 3,044.20 lakhs, lifted partly by a still loss-making subsidiary (KRN HVAC Products, ~Rs 890 lakhs loss in H1) where IPO proceeds are being deployed for a new Neemrana facility. The auditor (Keyur Shah & Co.) issued an unmodified limited review report on both standalone and consolidated results, and there were no pending investor complaints.
Strong revenue and earnings growth, supported by both domestic and export markets, is positive for shareholders and likely to be viewed favourably by the market. However, consolidated EBITDA margins appear to have compressed versus the prior year, and the subsidiary continues to post losses, which are worth tracking as the IPO-funded capacity comes online.