Published: 25th Sep 2024
By: Value Research
KRN Heat Exchanger manufactures finned tube heat exchangers to improve heat transfer efficiency in the heating, ventilation, air conditioning and refrigeration industry. Its product range includes condenser coils and evaporator units, among many others.
Total IPO size (Rs cr) 342 Offer for sale (Rs cr) - Fresh issue (Rs cr) 342 Price band (Rs) 209 - 220 Subscription dates September 25-27, 2024 Purpose of issue To fund a new manufacturing facility and general corporate purposes
1367 Net worth (Rs cr) 474 Promoter holding (%) 70.8 Price/earnings ratio (P/E) 35 Price/book ratio (P/B) 2.9M-cap (Rs cr)
2Y growth p.a. (%) FY24 FY23 FY22 Revenue 40.5 308 247 156 EBIT 94.5 54 46 14 PAT 92.1 39 32 11 Net worth 127.1 132 60 26 Total debt 104.4 92 37 22Key financials (Rs cr)
3Y average FY24 FY23 FY22 ROE (%) 57.2 40.9 75.9 54.9 ROCE (%) 38.8 31.2 50.5 34.7 EBIT margin (%) 15 17.5 18.6 9 Debt-to-equity 0.7 0.7 0.6 0.9Ratios
The company serves prestigious air conditioner giants like Daikin, Schneider Electric, Blue Star, Voltas, and Carrier. It incorporated KRN HVAC Products to increase value-added offerings, and is planning to manufacture new heat exchangers for a wider range of applications.
The company's revenue is concentrated. It has no long-term agreements with clients. Also, rising receivables and inventory impact cash flow. For our in-depth risk report, click the link below: