KRN Heat Exchanger and Refrigeration has announced securing a significant order worth ₹20.00 crores, marking a notable milestone for the engineering company.

Order Details

The company has successfully won this substantial contract, which represents a meaningful addition to its order book. The order value of ₹20.00 crores demonstrates the company's capability to secure large-scale projects in its core business areas.

Business Impact

This order win showcases KRN Heat Exchanger and Refrigeration's competitive positioning in the heat exchanger and refrigeration equipment market. The substantial contract value indicates strong demand for the company's products and services in its operational segments.

The engineering company operates in the specialized field of heat exchanger and refrigeration systems, catering to various industrial applications. This latest order acquisition reinforces the company's ability to attract and secure significant business opportunities.

Company Profile

KRN Heat Exchanger and Refrigeration operates as an engineering company focused on manufacturing and supplying heat exchanger and refrigeration equipment. The company serves various industrial sectors requiring specialized thermal management solutions and refrigeration systems.

KRN Heat Exchanger and Refrigeration Limited announced key strategic decisions following its board meeting held on January 12, 2026. The company approved significant loan modifications and introduced an employee stock option plan, demonstrating its commitment to subsidiary growth and employee retention.

Loan Agreement Modifications

The board approved substantial modifications to the existing loan agreement with KRN HVAC Products Private Limited, a wholly-owned subsidiary. The key changes involve converting the unsecured loan into a convertible facility, providing the lender with discretionary conversion rights.

The modification grants KRN Heat Exchanger the right to convert the outstanding loan amount, along with accrued interest, into fully paid-up equity shares of KRN HVAC at its sole discretion. The conversion will be based on valuation reports obtained by the borrower when conversion requests are made.

New Loan Facility Approved

The board sanctioned a fresh loan agreement with Thermotech Research Laboratory Private Limited, another wholly-owned subsidiary, to support its working capital requirements.

Employee Stock Option Plan 2026

The board approved the comprehensive KRN Employee Stock Option Plan 2026, subject to shareholder approval at the upcoming general meeting. The plan aims to reward employee performance and attract talented professionals to the organization.

The plan complies with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The Nomination and Remuneration Committee will determine eligible employees and grant options in tranches. The exercise price may be adjusted for corporate actions such as rights issues, bonus issues, or stock splits.

Related Party Transactions

Both loan agreements constitute related party transactions conducted at arm's length basis. KRN HVAC Products Private Limited and Thermotech Research Laboratory Private Limited are wholly-owned subsidiaries, making them part of the promoter group companies. The transactions require appropriate regulatory disclosures under SEBI listing regulations.

The board meeting commenced at 3:35 PM and concluded at 4:00 PM on January 12, 2026, with all resolutions receiving necessary approvals.