BSE: 544263 | NSE: KRN | Engineering - Industrial Equipments |
Past 10 year’s financial track record analysis by Moneyworks4me indicates that KRN Heat Exchanger And Refrigeration Ltd is a below average quality company.
The key valuation ratios of KRN Heat Exchanger And Refrigeration Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of KRN Heat Exchanger And Refrigeration Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|
| ROCE % ⓘ | 15.8% | 42.7% | 67.5% | - |
| Value Creation Index ⓘ | 0.1 | 2.1 | 3.8 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||
| Sales ⓘ | 75.8 | 156 | 247 | 247 |
| Sales YoY Gr. | - | 105.9% | 58.5% | - |
| Adj EPS ⓘ | 0.5 | 2.3 | 7.3 | 5.2 |
| YoY Gr. | - | 372.9% | 222% | - |
| BVPS (₹) ⓘ | 3 | 5.8 | 13.5 | 0 |
| Adj Net Profit ⓘ | 2.1 | 10 | 32.2 | 32 |
| Cash Flow from Ops. ⓘ | -1.3 | 4.5 | 5.1 | - |
| Debt/CF from Ops. ⓘ | -12.5 | 4.9 | 7.2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | NA | 58.5% | ||||
| Adj EPS ⓘ | NA | NA | NA | 222% | ||||
| BVPSⓘ | NA | NA | NA | 133.5% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|
| Return on Equity % ⓘ | 16.2 | 51.7 | 75.6 | 76.8 |
| Op. Profit Mgn % ⓘ | 7.2 | 10.9 | 19.9 | 18.3 |
| Net Profit Mgn % ⓘ | 2.8 | 6.4 | 13 | 13.1 |
| Debt to Equity ⓘ | 1.3 | 0.9 | 0.6 | 0 |
| Working Cap Days ⓘ | 0 | 96 | 117 | 262 |
| Cash Conv. Cycle ⓘ | 0 | 8 | 27 | 215 |
Return on Equity has increased versus last 3 years average to 76.80%
Debt to equity has declined versus last 3 years average to 0.62
Sales growth is good in last 4 quarters at 19.49%
Sales growth has been subdued in last 3 years 0.00%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 5.2 | 6.3 |
| TTM Sales (₹ Cr.) | 247 | 308 |
| BVPS (₹.) ⓘ | 0 | 133 |
| Reserves (₹ Cr.) ⓘ | 764 | 765 |
| P/BV ⓘ | 0.00 | 5.55 |
| PE ⓘ | 141.88 | 117.35 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 402.40 / 798.65 |
| All Time Low / High (₹) | 402.40 / 752.25 |
| Market Cap (₹ Cr.) | 4,585 |
| Equity (₹ Cr.) | 62.2 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 57.5 |
| Pledged * | 0.00 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|
| Sales | 76 | 156 | 247 |
| Operating Expenses ⓘ | 70 | 139 | 198 |
| Manufacturing Costs | 3 | 7 | 7 |
| Material Costs | 61 | 123 | 176 |
| Employee Cost | 4 | 6 | 9 |
| Other Costs ⓘ | 2 | 4 | 6 |
| Operating Profit ⓘ | 5 | 17 | 49 |
| Operating Profit Margin (%) | 7.2% | 10.8% | 19.9% |
| Other Income ⓘ | 1 | 2 | 2 |
| Interest ⓘ | 1 | 2 | 3 |
| Depreciation ⓘ | 2 | 3 | 3 |
| Exceptional Items ⓘ | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 3 | 15 | 45 |
| Tax ⓘ | 1 | 4 | 13 |
| Profit After Tax | 2 | 11 | 32 |
| PAT Margin (%) | 3.3% | 6.8% | 13.1% |
| Adjusted EPS (₹) | 0.6 | 2.4 | 7.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 13 | 26 | 60 | |||||||
| Share Capital ⓘ | 4 | 4 | 44 | |||||||
| Reserves ⓘ | 9 | 21 | 16 | |||||||
| Minority Interest | 0 | 0 | 0 | |||||||
| Debt | 14 | 19 | 34 | |||||||
| Long Term Debt | 11 | 11 | 17 | |||||||
| Short Term Debt | 3 | 8 | 18 | |||||||
| Trade Payables | 21 | 40 | 49 | |||||||
| Others Liabilities ⓘ | 4 | 8 | 6 | |||||||
| Total Liabilities ⓘ | 52 | 93 | 149 | |||||||
Fixed Assets | ||||||||||
| Gross Block | 25 | 27 | 41 | |||||||
| Accumulated Depreciation | 3 | 6 | 9 | |||||||
| Net Fixed Assetsⓘ | 21 | 21 | 32 | |||||||
| CWIP ⓘ | 0 | 0 | 0 | |||||||
| Investmentsⓘ | 0 | 0 | 0 | |||||||
| Inventories | 5 | 21 | 55 | |||||||
| Trade Receivables | 18 | 30 | 39 | |||||||
| Cash Equivalents | 6 | 14 | 16 | |||||||
| Others Assetsⓘ | 2 | 6 | 7 | |||||||
| Total Assets ⓘ | 52 | 93 | 149 | |||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -1 | 4 | 5 |
| PBT ⓘ | 3 | 15 | 45 |
| Adjustment ⓘ | 3 | 4 | 6 |
| Changes in Working Capital ⓘ | -7 | -10 | -33 |
| Tax Paid ⓘ | -1 | -4 | -13 |
| Cash Flow From Investing Activity ⓘ | -13 | -3 | -14 |
| Capex | -13 | -3 | -14 |
| Net Investments | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 9 | 3 | 11 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 5 | 0 | 6 |
| Interest Paid ⓘ | -1 | -2 | -3 |
| Dividend Paid ⓘ | 0 | 0 | 0 |
| Others ⓘ | 5 | 5 | 9 |
| Net Cash Flow ⓘ | -5 | 5 | 2 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 18.88 | 54.88 | 75.94 | |||||||
| ROCE (%) | 15.75 | 42.68 | 67.49 | |||||||
| Asset Turnover Ratio | 1.45 | 2.15 | 2.05 | |||||||
| PAT to CFO Conversion(x) | -0.5 | 0.36 | 0.16 | Working Capital Days | ||||||
| Receivable Days | 84 | 55 | 50 | |||||||
| Inventory Days | 26 | 31 | 56 | |||||||
| Payable Days | 129 | 92 | 93 | |||||||
KRN Heat Exchanger and Refrigeration Limited was incorporated in Bhiwadi, Alwar as ‘Krn Heat Exchanger And Refrigeration Private Limited’, a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated August 25, 2017issued by Central Registration Centre, Manesar. Thereafter, the company was converted from a private limited company to a public limited company, pursuant to a resolution passed in the extraordinary general meeting of its Shareholders held on March 17, 2023, and consequently, the name of the company was changed to ‘KRN Heat Exchanger and Refrigeration Limited’ by deletion of the word ‘Private’. A fresh certificate of incorporation consequent upon conversion from private company to public company dated April 03, 2023, was issued by the Registrar of Companies, Jaipur, Rajasthan to the Company.
KRN Heat Exchanger and Refrigeration manufactures fin and tube type heat exchangers for the Heat Ventilation Air Conditioning and Refrigeration Industry (HVAC&R). Heat exchanger manufactured by it is made of non-ferrous metals primarily Copper and Aluminium. The company’s product range includes condenser coils, evaporator units, evaporator coils, header/copper parts, fluid and steam coils and sheet metal parts. It manufactures heat exchangers of various shapes and sizes as per the requirements of the customers and/or demand in the market. Its products are well suited for wide range of air conditioning, heating and ventilation, refrigeration, and process cooling applications.
To enhance the longevity and corrosion resistance of heat exchangers and their components, various types of coatings such as nano coating, and powder coating are applied to the surfaces of copper tubes, brazing joints, and fin sheets. By applying these advanced coatings to heat exchangers and their components, its products ensure that the heat exchanger operates efficiently over an extended period, reducing maintenance costs and enhancing overall performance. The protective barrier provided by these coatings ensures that the heat exchanger withstands harsh conditions and maintains its optimal functionality.
Business area of the company
The company is engaged in the business of manufacturing of heat exchangers and coils for Commercial Air conditioning and Packaged Air conditioning units which are primarily installed in places like data cooling centres, process cooling equipment, railways/metros, and other commercial air conditioning units.
Products of the company
Awards, accreditations or recognition
History and milestones
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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