Krn Heat Exchanger And Refrigeration Limited

PE 99.21 is extremely high; stock gained 66% in one year against volatile quarterly earnings (EPS ₹2.43–₹5.2), leaving minimal buffer for disappointment

Operating margins swing from 8.9% to 20.28% across recent quarters, indicating order or cost volatility; verify if project-cycle lumpiness or deteriorating cost control

Quarterly revenue fluctuates 50%+ (₹136–₹252 Cr range), suggesting weak order visibility or customer concentration; assess pipeline and backlog stability

Promoter shareholding fell 5.1 points in three months (70.79% to 65.69%); clarify whether dilution reflects capex funding, founder exit, or other capital events

Latest quarter revenue ₹252.32 Cr (Jun 2026) nearly double the Dec 2025 low of ₹136.34 Cr signals order recovery; verify if sustainable or cyclical

Operating margins of 19.45%–20.28% in strong quarters demonstrate profitability at scale; growth in high-margin orders would compound on ₹9,617 Cr market cap

ROE of 14.26% and moderate D/E of 0.33 indicate capacity for additional capital deployment; verify capex plans and whether company can scale revenue with controlled cost growth

Industrial cooling and refrigeration embed in manufacturing, data centers, and infrastructure; verify whether company is capturing emerging data-center cooling demand