Promoters of KRN Heat Exchanger and Refrigeration Limited have disclosed their intention to sell up to 10,00,000 equity shares for personal and financial reasons. The proposed divestment is subject to regulatory approvals and the receipt of pre-clearance from the company’s compliance officer. The disclosure was made to the stock exchanges on May 26, 2026, under Regulation 30 of the SEBI Listing Regulations.

The group intending to sell includes Santosh Kumar Yadav, Promoter, Chairman and Managing Director; Anju Devi, Promoter and Wholetime Director; and Manohar Lal, Non-Executive Non-Independent Director. Collectively referred to as the Promoters, they plan to offload shares held by themselves and members of the promoter group.

The proposed sale is conditional upon the completion of a qualified institutions placement (QIP), should the company undertake such an issue in the two months following the date of the letter. The promoters stated that the sale will only proceed post the completion of this potential QIP.

The transaction requires adherence to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, and the company’s internal Code of Conduct for Prevention of Insider Trading. Santosh Kumar Yadav affirmed that the sale is contingent upon receiving the necessary pre-clearance and approvals from the Company Secretary and Compliance Officer.

Jitendra Kumar Sharma, Company Secretary & Compliance Officer, submitted the disclosure to BSE Limited and the National Stock Exchange of India Limited on behalf of the company. The scrip is traded under the symbol KRN on the NSE and carries the ISIN INE0Q3J01015.

KRN Heat Exchanger and Refrigeration Limited's Board of Directors convened a meeting on May 14, 2026, and approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The company released an investor presentation detailing the performance, highlighting a strong operational scale-up. Following the announcement, the company released the audio recording of the Investors/Analysts Call held on May 15, 2026. In compliance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published newspaper advertisements containing a QR code for the extract of the audited financial results in Financial Express (English) and Business Remedies (Hindi) on May 16, 2026.

Q4 Operational Highlights

KRN Heat Exchanger and Refrigeration delivered a notable improvement in operational profitability during the quarter ended March 31, 2026. Q4 EBITDA stood at 335M rupees compared to 189M rupees in the same quarter of the previous year, reflecting strong margin expansion. The EBITDA margin for the quarter improved to 18.69% from 14.4% year-on-year. Consolidated net profit for Q4 came in at 234M rupees versus 149M rupees in the corresponding quarter, while Q4 revenue reached 1.8B rupees compared to 1.3B rupees in the prior year period.

Consolidated Financial Performance

The company delivered robust consolidated revenue growth for the year ended March 31, 2026. Revenue from operations rose to Rs. 60,005.77 Lakhs from Rs. 42,984.93 Lakhs in the previous year. Total income, including other income of Rs. 974.82 Lakhs, stood at Rs. 60,980.59 Lakhs compared to Rs. 44,170.64 Lakhs in the prior year. Net profit for the year reached Rs. 7,646.74 Lakhs against Rs. 5,287.54 Lakhs in the year ended March 31, 2025. The consolidated Basic/Diluted Earnings Per Share for the full year stood at Rs. 12.30 compared to Rs. 9.75 in the previous year.

For the quarter ended March 31, 2026, consolidated revenue from operations was Rs. 17,947.98 Lakhs, up from Rs. 13,150.24 Lakhs in the corresponding quarter of the previous year. Net profit for the quarter stood at Rs. 2,336.15 Lakhs compared to Rs. 1,486.70 Lakhs in Q4 FY25. The quarterly Basic/Diluted EPS was Rs. 3.75 versus Rs. 2.39 in the same quarter of the prior year.

Standalone Financial Performance

On a standalone basis, the company reported revenue from operations of Rs. 67,623.01 Lakhs for the year ended March 31, 2026, compared to Rs. 43,118.97 Lakhs in the previous year. Net profit for the standalone entity stood at Rs. 7,130.53 Lakhs against Rs. 5,017.46 Lakhs in the prior year. Total comprehensive income for the year was Rs. 7,144.81 Lakhs versus Rs. 5,014.88 Lakhs previously. The standalone Basic/Diluted EPS for the full year was Rs. 11.47 compared to Rs. 9.25 in the prior year.

Management Changes

Mr. Sonu Gupta has resigned from the position of Chief Financial Officer and Key Managerial Personnel of the company effective from the close of business hours on May 14, 2026. In his resignation letter, Mr. Gupta cited internal restructuring and his changed role within the company as the reason for stepping down. He will continue to serve as a Senior Management Personnel of the company.

The Board approved the appointment of Mr. Pawan Nawal as Chief Financial Officer and Key Managerial Personnel, effective May 15, 2026. He is a Chartered Accountant and MBA (Finance) with over 20 years of experience. Consequent to Mr. Nawal's appointment, Mr. Sonu Gupta was re-designated as General Manager (Finance) of the company with effect from May 15, 2026. The Board also revised the authority for determination of materiality of events under Regulation 30(5) of the Listing Regulations, designating Mr. Santosh Kumar Yadav, Mr. Pawan Nawal, and Mr. Jitendra Kumar Sharma as the authorised Key Managerial Personnel for this purpose.

Regulatory Compliance

Pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, KRN Heat Exchanger and Refrigeration published the QR code extract of its audited financial results for the quarter and year ended March 31, 2026 in newspapers on May 16, 2026. The advertisement appeared in Financial Express (English) and Business Remedies (Hindi). The filing was signed by Jitendra Kumar Sharma, Company Secretary & Compliance Officer, from the company's registered office in Neemrana, Rajasthan.