Multibagger IPO! KRN Heat Exchanger and Refrigeration shares have jumped 40% in five days after Q2 results 2024. The share price has more than doubled over the issue price giving Multibagger returns to IPO investors.
The KRN Heat Exchanger share price gained more than 12 % during intraday trades on Thursday. The KRN Heat Exchangers share price has been rising regularly since Q2 results and the gains are more than 40% in last five days.
During the quarter ending September KRN Heat Exchangers saw its standalone revenues cross the ₹100 crore mark. KRN Heat exchangers, one of the key manufacturers and exporters specializing in aluminium / copper fins, copper tube heat exchangers, water coils, and condenser and evaporator coils, reported 39% year on year jump in revenues
Q2 performance highlights
At the consolidated level too KRN heat Exchangers revenues grew 28.41%.
The net profit for KRN Heat Exchanger grew 43% year on year at consolidated levels to ₹12.37 crore compared to ₹8.65 crore in the same quarter last year.
The Ebitda margins improved 124 basis points over last year to 21.34%
Among other highlights were Geographic Revenue Split for Consolidated Q2 FY25 that while Domestic (India) sales contributed : 80.89%, amounting to ₹73.69 crores, the International revenues contributed 19.11%, amounting to ₹17.40 crores
Investment Expansion highlights included KRN Heat Exchangers wholly owned subsidiary, KRN HVAC Products Private Limited, recently signing a Memorandum of Understanding with the Government of Rajasthan, outlining a proposed investment of ₹1,000 crore, underscoring KRN’s commitment to growth and manufacturing excellence in the region
