Synopsis: KRN Heat Exchanger witnessed rising institutional interest in June 2026, while ace investor Mukul Agrawal marginally reduced his stake to 1.53 percent.
This Small-Cap Stock, engaged in manufacturing heat exchangers, condenser coils, evaporator coils, and refrigeration components for HVAC, automotive, and industrial cooling applications, is in focus after Ace investor Mukul Agrawal decreased their stake in June 2026
With a market capitalization of Rs. 8,385.23 crore, the shares of KRN Heat Exchanger and Refrigeration Limited were currently trading at Rs. 1281 per equity share, rising nearly 1.40 percent from its previous day’s close price of Rs. 1,263.35.
What is the News?
KRN Heat Exchanger and Refrigeration Limited is engaged in manufacturing heat exchangers, condenser coils, evaporator coils, and refrigeration components used in air conditioning, refrigeration, ventilation, and industrial cooling applications. Ace investor Mukul Mahavir Agrawal increased their stake in KRN Heat Exchanger and Refrigeration Limited in June 2026.
In the shareholding pattern of KRN Heat Exchanger and Refrigeration Limited, the company had a majority stake held by the promoters at 67.22 percent, foreign institutional investors at 8.37 percent, domestic institutional investors at 8.64 percent, and the public at 15.76 percent in June 2026.
Promoters Holding reduced its stake in KRN Heat Exchanger and Refrigeration Limited from 70.79 percent in March 2026 to 67.22 percent in June 2026, representing a decrease of 3.57 percent.
FII has increased its stake in KRN Heat Exchanger and Refrigeration Limited from 6.66 percent in March 2026 to 8.37 percent in June 2026, an increase of 1.71 percent. Additionally, DII has also raised its stake in the company from 6.39 percent in March 2026 to an 8.64 percent stake in June 2026, up 2.25 percent.
Mukul Mahavir Agrawal is a prominent figure in the Indian stock market. According to recent shareholding disclosures, he holds stakes in around 74 listed companies, with a total portfolio value exceeding Rs. 7,430.20 crore.
In a recent quarter update, Mukul Mahavir Agrawal decreased his total holding in KRN Heat Exchanger and Refrigeration Limited from 1.61 percent in March 2026 to 1.53 percent in June 2026, marking a 0.08 percent decrease in his stake. His current holding is valued at Rs. 126.34 crores and consists of 10 lakh shares in the company.
Business Highlights:
KRN Heat Exchanger and Refrigeration Limited has a strong manufacturing presence with 2 production facilities and the capacity to manufacture millions of heat exchanger components annually. The company offers products across 10 product categories and serves 19 end-use application segments.
The company has an export presence in 14 countries and caters to more than 200 customers globally. The company also has an integrated bus AC manufacturing capability, supporting its diversified product portfolio and global growth strategy.
Business and Products:
The company manufactures non-ferrous heat exchangers using copper tubes and aluminum or copper fins. Its portfolio includes condenser coils, evaporator units and coils, fluid and steam coils, copper headers/parts, and associated sheet-metal components. These are used in air conditioners, refrigeration units, chillers, and other HVAC systems produced by OEM customers.
Company Overview:
KRN Heat Exchanger and Refrigeration Limited was incorporated in 2017 and is an Indian manufacturing company focused on fin-and-tube heat exchangers and related refrigeration equipment for the HVAC&R (heating, ventilation, air conditioning and refrigeration) industry. It supplies coils and assemblies to OEMs in India and overseas.
Recent Quarter Results:
Coming into financial highlights, KRN Heat Exchanger and Refrigeration Limited’s revenue has increased from Rs. 132 crore in Q4 FY25 to Rs. 179 crore in Q4 FY26, which has grown by 35.61 percent. The net profit has also grown by 53.33 percent from Rs. 15 crore in Q4 FY25 to Rs. 23 crore in Q4 FY26.
KRN Heat Exchanger and Refrigeration Limited’s revenue and net profit have grown at a CAGR of 39.8 percent and 39.6 percent, respectively, over the last five years.
In terms of return ratios, the company’s ROCE and ROE stand at 16.1 percent and 14.3 percent, respectively. KRN Heat Exchanger and Refrigeration Limited has an earnings per share (EPS) of Rs. 12.3, and its debt-to-equity ratio is 0.33x.
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