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

KRN Heat Exchanger and Refrigeration Ltd's latest quarterly results (Mar 2026) show

• PAT Growth YoY: +53.3% (stable)
• Revenue Growth YoY: +35.6%
• Operating Margin: 19.0% (volatile)

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

• PAT Growth YoY: +53.3% (latest quarter)
• PAT Growth QoQ: 0.0% (sequential)
• 3-Year PAT CAGR: +39.6%
• Trend: Stable — consistent growth pattern

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

• Revenue Growth YoY: +35.6%
• Revenue Growth QoQ: +17.0% (sequential)
• 3-Year Revenue CAGR: +39.8%

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

• Current OPM: 19.0%
• OPM Change YoY: +5.0% basis points
• OPM Change QoQ: -1.0% basis points

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

• 3-Year Profit CAGR: +39.6%
• 3-Year Revenue CAGR: +39.8%

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

• YoY Acceleration: -11.0% bps
• Sequential Acceleration: -27.8% bps
• Note: YoY and QoQ trends are diverging — worth monitoring

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

• TTM PAT: ₹76 Cr
• TTM PAT Growth: +43.4% YoY
• TTM Revenue: ₹599 Cr
• TTM Revenue Growth: +39.3% YoY
• TTM Operating Margin: 18.7%

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

• Valuation Signal: Significantly Overvalued
• Current PE: 102.0x
• Price-to-Book: 12.9x

KRN Heat Exchanger and Refrigeration Ltd's current PE ratio is 102.0x.

• Current PE: 102.0x
• Market Cap: 7.8K Cr

KRN Heat Exchanger and Refrigeration Ltd's current PE is 102.0x.

• Current PE: 102.0x
• Valuation Assessment: Significantly Overvalued

KRN Heat Exchanger and Refrigeration Ltd's price-to-book ratio is 12.9x.

• Price-to-Book (P/B): 12.9x
• Book Value per Share: ₹92
• Current Price: ₹1191

KRN Heat Exchanger and Refrigeration Ltd is rated Weak with a fundamental score of 32/100. This score is calculated from objective financial metrics

• Revenue Growth YoY: +35.6% (10% weight)
• PAT Growth YoY: +53.3% (10% weight)
• PAT Growth QoQ: 0.0% (10% weight)
• Margins stable (10% weight)

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

• Total Debt: ₹187 Cr

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

• FY2025: ROCE 21.0%
• FY2026: ROCE 16.0%

KRN Heat Exchanger and Refrigeration Ltd's operating cash flow is negative (FY2026).

• Cash from Operations (CFO): ₹-114 Cr
• Free Cash Flow (FCF): ₹-148 Cr
• CFO/PAT Ratio: -150% (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: ₹1191

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

• Promoters: 67.2%
• FII (Foreign): 8.4%
• DII (Domestic): 8.6%
• Public: 15.8%

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

• Current Promoter Holding: 67.2% (Jun 2026)
• Previous Quarter: 70.8% (Mar 2026)
• Change: -3.57% (decreasing — worth monitoring)

KRN Heat Exchanger and Refrigeration Ltd has been outperforming Nifty 500 for 3 consecutive weeks, indicating early-stage outperformance.

KRN Heat Exchanger and Refrigeration Ltd is a re-entry — it briefly dropped off the outperformance list but has now returned. Re-entries can signal renewed strength.

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

• Earnings growing at +53.3% YoY

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