KRN Heat Exchanger and Refrigeration LimitedQ2 FY27 Results & Financial Update
KRN Heat Exchanger and Refrigeration Limited: Q2 FY27 consolidated results and company financials – revenue ₹319.14 Cr, PAT ₹36.11 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore KRN Heat Exchanger and Refrigeration Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
KRN Heat Exchanger and Refrigeration Limited posted consolidated revenue from operations of INR 319.14 crore for the quarter ended September 30, 2026, marking a substantial sequential expansion from INR 66.82 crore reported in the preceding quarter ended June 30, 2026.
Total income for Q2 FY27 stood at INR 326.62 crore, bolstered by INR 7.49 crore in other income and INR 5.47 crore in interest income recorded during the period.
Profit before tax (PBT) advanced sequentially to INR 45.86 crore compared to INR 3.53 crore in Q1 FY27, reflecting higher operational volume and improved absorption of fixed overheads.
Net profit after tax (PAT) for the quarter settled at INR 36.11 crore, translating to a PAT margin of 11.32% against 13.04% in the previous quarter, with basic and diluted earnings per share standing at INR 5.52.
Finance costs for the quarter were contained at INR 3.05 crore, while depreciation and amortization expenses reached INR 7.32 crore, reflecting ongoing capital asset utilization across manufacturing units.
Tax expenses for the period amounted to INR 9.75 crore, aligning with the higher pre-tax profitability reported during the quarter.
Total provisions recorded during Q2 FY27 stood at INR 6.74 crore, capturing required allowances within the reported period.
KRN Heat Exchanger and Refrigeration Limited reported consolidated revenue from operations of INR 319.14 crore for Q2 FY27, reflecting a significant expansion compared to the preceding quarter (Q1 FY27 revenue of INR 66.82 crore equivalent).
01 · Business model
What does KRN Heat Exchanger and Refrigeration do?
KRN Heat Exchanger and Refrigeration Limited designs and manufactures fin and tube type heat exchangers, water coils, condenser coils, and evaporator coils used in heating, ventilation, air conditioning, and refrigeration (HVAC&R) applications.
The company's primary product portfolio includes copper and aluminium finned heat exchangers, fluid headers, and sheet metal parts that serve major domestic and international HVAC original equipment manufacturers.
KRN operates out of its manufacturing facilities equipped with modern production machinery, testing equipment, and automated fin-forming lines to support customized commercial and industrial orders.
The economic model relies heavily on volume off-take from large HVAC system makers, raw material price pass-through mechanisms, and plant operational efficiency to sustain manufacturing margins.
02 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹319.14 Cr | ₹252.32 Cr |
| Total income | ₹326.62 Cr | ₹255.09 Cr |
| Profit before tax | ₹45.86 Cr | ₹42.33 Cr |
| Profit after tax | ₹36.11 Cr | ₹32.90 Cr |
| EPS | ₹5.52 | ₹0.00 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 11.3% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 14.4% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹7.49 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations surged to INR 319.14 crore in Q2 FY27 compared to INR 66.82 crore in Q1 FY27, driven by higher execution volumes and order flow from HVAC&R customers.
Total income received a supplementary lift from INR 7.49 crore in other income and INR 5.47 crore in interest income during the quarter.
Revenue from operations scaled to INR 319.14 crore during Q2 FY27, backed by strong execution across product lines.
Total other income contributed INR 7.49 crore to the top-line construct, including INR 5.47 crore of interest income.
Revenue from operations increased to INR 319.14 crore in Q2 FY27, reflecting a sequential increase from the previous quarter's figure of INR 66.82 crore equivalent.
What drove margins
Net profit margin for the quarter settled at 11.32%, compared to 13.04% in the previous quarter, reflecting shifting cost structures and scale dynamics.
Depreciation and amortization expenses stood at INR 7.32 crore, while finance costs amounted to INR 3.05 crore, impacting bottom-line accruals.
Depreciation and amortization stood at INR 7.32 crore while finance costs were contained at INR 3.05 crore for the quarter.
Tax expense for Q2 FY27 was recorded at INR 9.75 crore against a PBT of INR 45.86 crore.
The PAT margin moderated slightly to 11.32% in Q2 FY27 compared to 13.04% in Q1 FY27, driven by higher provisions and tax charges relative to top-line growth.
04 · Reported developments
What changed operationally
Revenue from operations expanded significantly on a quarter-on-quarter basis to INR 319.14 crore.
Net profit advanced to INR 36.11 crore, up from INR 3.22 crore in the preceding quarter.
PAT expanded sequentially to INR 36.11 crore alongside a rise in PBT to INR 45.86 crore.
Both PBT and PAT registered sequential expansions, moving to INR 45.86 crore and INR 36.11 crore respectively.
05 · Items worth noticing
The line items that can distort a quick read
The company recognized total provisions of INR 6.74 crore during the quarter.
The company reported provisions amounting to INR 6.74 crore during the quarter.
The company recorded provisions of INR 6.74 crore during the quarter ended September 30, 2026.
06 · Beyond the numbers
What changed beyond the numbers
Reported update
XBRL Filing Compliance
The financial results for Q2 FY27 were filed electronically via official exchange structured filings under IND-AS standards on consolidated reporting scope.
Reported update
Statutory Filing Compliance
Financial results for the quarter ended September 30, 2026, were filed via official exchange structured XBRL format.
07 · Previous-quarter changes
What changed since the previous quarter
Revenue increased by INR 252.32 crore from INR 66.82 crore reported in Q1 FY27.
Basic EPS remained flat at INR 5.52 due to weighted share count adjustments matching the expanded profit base.
Revenue from operations increased from INR 66.82 crore in Q1 FY27 to INR 319.14 crore in Q2 FY27.
Quarterly operating revenue rose from INR 66.82 crore in Q1 FY27 to INR 319.14 crore in Q2 FY27.
08 · Key Q&A
The quarter, answered directly
What does KRN Heat Exchanger and Refrigeration do?
KRN Heat Exchanger and Refrigeration Limited designs and manufactures fin and tube type heat exchangers, water coils, condenser coils, and evaporator coils used in heating, ventilation, air conditioning, and refrigeration (HVAC&R) applications.
What is the clearest takeaway from Q2 FY27?
KRN Heat Exchanger and Refrigeration Limited posted consolidated revenue from operations of INR 319.14 crore for the quarter ended September 30, 2026, marking a substantial sequential expansion from INR 66.82 crore reported in the preceding quarter ended June 30, 2026.
What drove revenue or demand?
Revenue from operations surged to INR 319.14 crore in Q2 FY27 compared to INR 66.82 crore in Q1 FY27, driven by higher execution volumes and order flow from HVAC&R customers.
What mattered most for margins or profitability?
Net profit margin for the quarter settled at 11.32%, compared to 13.04% in the previous quarter, reflecting shifting cost structures and scale dynamics.
What changed operationally beyond the headline numbers?
The financial results for Q2 FY27 were filed electronically via official exchange structured filings under IND-AS standards on consolidated reporting scope.
What should the next disclosure help confirm?
Monitor subsequent quarterly order execution and capacity utilization across manufacturing lines.
09 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
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Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
10 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Volume Execution: Monitor subsequent quarterly order execution and capacity utilization across manufacturing lines.
- 02
Margin Trajectory: Track net profit margins and raw material cost pass-through efficiency in future reporting periods.
- 03
Subsequent Quarter Filings: Monitor upcoming quarterly disclosures for revenue sustainability and margin trajectory.
- 04
Sustained Margin Trends: Track whether subsequent quarters maintain operating margin stability amidst fluctuating raw material costs.
- 05
Provision and Tax Trajectory: Monitor future quarterly filings for the progression of provisions and effective tax rates.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.