KRN Heat Exchan Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 25 Aug 2026 | Industrial Products | Market Cap: ₹9.7K Cr
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.
Price
₹1,471
Market Cap
₹9.7K Cr
P/E Ratio
100.1
How does KRN Heat Exchan rank in Industrial Products?
Compare KRN Heat Exchan against every Industrial Products company this quarter on revenue, margins and earnings-call signals.
KRN Heat Exchan — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹179 Cr, net profit ₹23 Cr.
Full financials →📊 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:
- → - Consolidated revenue growth around 40% Y-o-Y for 9 months period.
- → - Continuing steady execution and operational scaling.
📈 Profitability & Margins
- →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.
- →New facility ramping up; capacity utilization at 20% in FY '26, aiming for 50% next year.
- →Focus on backward integration and cost control to maintain/improve margins.
- →Consolidated EBITDA growth of 53% in 9M FY '26; net profit up nearly 40%.
- →Inventory gains and backward integration aiding margin expansion.
- →Expect 30-40% growth in Bus AC revenue post entering the market.
- →New business segments and incremental customers (40+ added last quarter) provide steady growth.
- →Full utilization of new capacities could drive substantial revenue expansion beyond INR400 crores annually.
- →Company anticipates stable order pipeline and positive industry outlook.
- →Earnings per share (EPS) expected to improve with scale and operational efficiencies.
🏗️ Capital Expenditure Plans
💰 Fundraising & Capital Structure
📋 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.
- →Export orders from the UAE market are increasing, with focus also on Europe and the USA.
- →No explicit quantitative number was disclosed, but strong visibility exists for the next 6-9 months.
Key Metrics
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 concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.