KRN Heat Exchan
KRN Heat Exchan Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Bus Air Conditioning Business: - Targeting to achieve 15% of the total India bus air conditioning market (approx. Bus Air Conditioning (Bus AC) segment expected to contribute ~15% of total India market (~INR1000 crores) from next year, with 20-25% industry growth annually.
From KRN Heat Exchan's Q3 FY26 earnings-call transcript · updated 25 Aug 2026.
Revenue & Sales Performance
- Bus Air Conditioning Business:
- Targeting to achieve 15% of the total India bus air conditioning market (approx. INR1,000 crore) in revenue next year.
- Market is growing at 20-25% year-on-year.
- Expected 30-40% growth in revenue from this segment annually.
- Aim to establish 20-25 service centers PAN-India in next 6-7 months.
- Plan to expand sales and service teams significantly (50+ technicians hired).
- New Facility:
- New manufacturing facility recently started billing.
- Capacity utilization expected to reach 20% in FY26, aiming for 50% next year.
- Total capacity including new facility supports revenue up to approx. INR2,000 crores.
- Export Markets:
- Gradual growth expected in markets like USA, Europe, and UAE.
- Focus on competitive pricing vs European and US suppliers (15-20% lower landed price).
- Overall:
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Profitability & Margins
See what KRN Heat Exchan said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- The company inaugurated a new facility officially on March 11, 2026, which is currently in the ramping-up stage.
- They plan to expand production capacity, aiming for 20% utilization from the new HVAC facility in FY '26 and targeting 50% capacity utilization next year.
- There is an ongoing focus on backward integration in terms of sheet metal and header components to improve margins.
- The bus air conditioning business is a strategic investment area, with plans to achieve 15% market share of the INR1,000 crore+ Indian bus AC market by next year.
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Top-ranked in Industrial Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what KRN Heat Exchan said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- The order book is on a rolling basis with main customers providing a six-month forecast and one month of firm orders.
- Orders are not project-based (except 1-2%) and are ongoing as per production needs.
- Some significant big orders are coming from data center clients, showing promising growth.
- Raw material price volatility is managed through quarterly price adjustments, so margins are stable.
- Supply to bus air conditioning OEM customers has started with one OEM last quarter and continues this quarter.
- The company expects to reach 15% market share in the bus air conditioning segment by next year.
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KRN Heat Exchan — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹179 Cr, net profit ₹23 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What KRN Heat Exchan's management said in earlier quarters
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Frequently Asked Questions
What were KRN Heat Exchan Q3 FY26 results?
Bus Air Conditioning Business: - Targeting to achieve 15% of the total India bus air conditioning market (approx. Bus Air Conditioning (Bus AC) segment expected to contribute ~15% of total India market (~INR1000 crores) from next year, with 20-25% industry growth annually.
What is KRN Heat Exchan share price analysis?
KRN Heat Exchan currently shows a neutral. The stock trades at a P/E of 100.1 with a market cap of ₹9,702 Cr. Investors should review the full earnings analysis for detailed insights.
Is KRN Heat Exchan planning capital expenditure?
The company inaugurated a new facility officially on March 11, 2026, which is currently in the ramping-up stage.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.