KRN Heat Exchanger and Refrigeration Ltd: Why Is It Outperforming Nifty 500?

KRN Heat Exchanger and Refrigeration Ltd's latest quarterly results (Dec 2025) show

• PAT Growth YoY: +64.3% (stable)
• Revenue Growth YoY: +37.8%
• Operating Margin: 20.0% (volatile)

KRN Heat Exchanger and Refrigeration Ltd's profit is growing with an stable trend.

• PAT Growth YoY: +64.3% (latest quarter)
• PAT Growth QoQ: +27.8% (sequential)
• 3-Year PAT CAGR: +35.9%
• Trend: Stable — consistent growth pattern

KRN Heat Exchanger and Refrigeration Ltd's revenue growth trend is stable.

• Revenue Growth YoY: +37.8%
• Revenue Growth QoQ: +0.7% (sequential)
• 3-Year Revenue CAGR: +40.1%

KRN Heat Exchanger and Refrigeration Ltd's operating margin is volatile.

• Current OPM: 20.0%
• OPM Change YoY: +6.0% basis points
• OPM Change QoQ: 0.0% basis points

KRN Heat Exchanger and Refrigeration Ltd's long-term compounding rates

• 3-Year Profit CAGR: +35.9%
• 3-Year Revenue CAGR: +40.1%

KRN Heat Exchanger and Refrigeration Ltd's earnings growth is stable with mixed signals on a sequential basis.

• YoY Acceleration: +14.3% bps
• Sequential Acceleration: -22.2% bps

KRN Heat Exchanger and Refrigeration Ltd's trailing twelve month (TTM) performance

• TTM PAT: ₹68 Cr
• TTM PAT Growth: +36.0% YoY
• TTM Revenue: ₹552 Cr
• TTM Revenue Growth: +45.3% YoY
• TTM Operating Margin: 17.5%

KRN Heat Exchanger and Refrigeration Ltd appears significantly overvalued based on our fair value analysis.

• Valuation Signal: Significantly Overvalued
• Current PE: 118.0x
• Price-to-Book: 15.2x

KRN Heat Exchanger and Refrigeration Ltd's current PE ratio is 118.0x.

• Current PE: 118.0x
• Market Cap: 8.1K Cr

KRN Heat Exchanger and Refrigeration Ltd's current PE is 118.0x.

• Current PE: 118.0x
• Valuation Assessment: Significantly Overvalued

KRN Heat Exchanger and Refrigeration Ltd's price-to-book ratio is 15.2x.

• Price-to-Book (P/B): 15.2x
• Book Value per Share: ₹85
• Current Price: ₹1295

KRN Heat Exchanger and Refrigeration Ltd is rated Average with a fundamental score of 45.09/100. This score is calculated from objective financial metrics

• Revenue Growth YoY: +37.8% (10% weight)
• PAT Growth YoY: +64.3% (10% weight)
• PAT Growth QoQ: +27.8% (10% weight)
• Margins stable (10% weight)

KRN Heat Exchanger and Refrigeration Ltd has a debt-to-equity ratio of N/A.

• Total Debt: ₹30 Cr

KRN Heat Exchanger and Refrigeration Ltd's return ratios over recent years

• FY2025: ROCE 21.0%

KRN Heat Exchanger and Refrigeration Ltd's operating cash flow is positive (FY2025).

• Cash from Operations (CFO): ₹21 Cr
• Free Cash Flow (FCF): ₹-258 Cr
• CFO/PAT Ratio: 40% (weak cash conversion)

KRN Heat Exchanger and Refrigeration Ltd currently does not pay a significant dividend (yield 0.00%).

• Dividend Yield: 0.00%
• Current Price: ₹1295

KRN Heat Exchanger and Refrigeration Ltd's shareholding pattern (Mar 2026)

• Promoters: 70.8%
• FII (Foreign): 6.7%
• DII (Domestic): 6.4%
• Public: 16.2%

KRN Heat Exchanger and Refrigeration Ltd's promoter holding has remained stable recently.

• Current Promoter Holding: 70.8% (Mar 2026)
• Previous Quarter: 70.8% (Dec 2025)
• Change: 0.00% (stable)

KRN Heat Exchanger and Refrigeration Ltd has been outperforming Nifty 500 for 12 consecutive weeks, indicating strong sustained outperformance.

KRN Heat Exchanger and Refrigeration Ltd is an established outperformer with 12 weeks of consecutive Nifty 500 outperformance.

Based on quantitative research signals, here is why KRN Heat Exchanger and Refrigeration Ltd may be worth studying

• Earnings growing at +64.3% YoY
• Cash flow is positive — CFO ₹21 Cr

KRN Heat Exchanger and Refrigeration Ltd investment thesis summary:

KRN Heat Exchanger and Refrigeration Ltd's forward outlook based on current data signals

• Earnings Trend: stable
• Revenue Trend: stable
• Margin Trend: volatile
• Valuation: Significantly Overvalued