KRN Heat Exchanger and Refrigeration Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
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KRN Heat Exchanger reported consolidated revenue from operations of ₹11,528.21 lakhs in Q1 FY26, up about 20.4% YoY from ₹9,578.45 lakhs in Q1 FY25. Total income rose to ₹11,885.74 lakhs. Consolidated profit after tax was ₹1,242.08 lakhs versus ₹1,197.00 lakhs a year ago, a modest ~3.8% growth, because the newly started subsidiary KRN HVAC Products booked a loss of ₹326.48 lakhs in its first month of commercial production (started May 31, 2025). On a standalone basis, the picture was stronger: revenue grew to ₹11,439.90 lakhs (~17.4% YoY) and PAT jumped to ₹1,568.56 lakhs (~34.8% YoY). Consolidated EPS stood at ₹2.00, lower than ₹2.59 in Q1 FY25, mainly because the share count rose after the IPO. The statutory auditor (Keyur Shah & Co.) issued an unmodified limited review report on both sets of results.
Top-line growth at the standalone parent level was healthy, but consolidated bottom-line growth was muted due to start-up losses at the new subsidiary, which may pressure near-term consolidated margins and EPS. Investors should watch how quickly the new Neemrana subsidiary turns profitable, as it received the bulk of the IPO proceeds (₹23,575.66 lakhs) and ₹5,769.37 lakhs is still pending deployment.