KRN Heat Exchanger and Refrigeration Limited has issued a clarification to BSE Limited regarding significant movement in its share price, stating that the fluctuation is purely market driven with no undisclosed price-sensitive information pending.

BSE Inquiry and Company Response

The company received a letter from BSE Limited dated February 25, 2026, inquiring about the significant movement in the price of the company's equity shares. In response, KRN Heat Exchanger and Refrigeration Limited provided a comprehensive clarification through Company Secretary Jitendra Kumar Sharma.

Regulatory Compliance Statement

The company emphasized its commitment to regulatory compliance, confirming that all necessary disclosures and announcements have been made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The management stated that there is no announcement or price-sensitive information pending disclosure to the stock exchanges.

Market-Driven Price Movement

KRN Heat Exchanger and Refrigeration Limited clarified that the observed significant movement in share price is purely market driven. The company's management confirmed that in their opinion, there is no undisclosed information that may have a bearing on the price or volume behavior of the stock.

The clarification was digitally signed by Company Secretary Jitendra Kumar Sharma on February 25, 2026, at 21:54:48 +05'30', ensuring proper documentation and authentication of the company's response to the stock exchange inquiry.

KRN Heat Exchanger and Refrigeration Limited has announced robust financial results for the third quarter and nine months of FY26, demonstrating strong operational performance across its business segments. The company held its earnings conference call on February 9, 2026, where management outlined the financial achievements and growth trajectory.

Q3 FY26 Financial Performance

The company delivered impressive consolidated results for the third quarter, with significant improvements across key metrics:

Nine-Month Performance Overview

For the nine-month period ended FY26, the company maintained strong momentum with substantial growth in both standalone and consolidated metrics:

Business Expansion and New Facility

Chairman and Managing Director Santosh Kumar Yadav announced that the company will officially inaugurate its new manufacturing facility on March 11, 2026, at Neemrana, Alwar, Rajasthan. The new facility has already begun contributing to business growth, with the company adding over 40 new customers during the quarter from the new facility alone.

The facility is designed to manufacture bar and plate heat exchangers, oil cooling systems with blower and motor, and roll band evaporators. Management expects to achieve 20% capacity utilization from the new facility in FY26, with plans to reach 50% utilization in the following year.

Market Expansion and Product Diversification

Data Center Business Growth

The company has established a strong position in the data center segment, which contributed 15% of total revenue in the nine-month period, up from 7% in the previous year. Management expects to capture 50% of India's data center heat exchanger market based on quality, infrastructure, and competitive pricing.

Bus Air Conditioning Segment

Through its acquisition of Sphere Refrigeration Systems, the company has entered the bus air conditioning market. The business has already commenced supplies to one OEM customer, with plans to establish 20-25 service centers across India within six months. Management targets capturing 15% of India's bus air conditioning market, valued at over Rs 1,000 crores and growing at 20-25% annually.

Export Market Performance

The company continues to strengthen its international presence, with strong demand from UAE, United States, Canada, and Europe. Recent trade developments and tariff clarifications have improved prospects in the US and European markets, where the company offers 15-20% cost advantages over local suppliers.

Strategic Initiatives

The company has implemented several strategic measures to support growth, including establishing an in-house laboratory for product testing, expanding backward integration capabilities, and strengthening the management team with new appointments in export sales and food/non-food business segments.

Management maintains a positive outlook for Q4 FY26 and beyond, supported by strong order pipelines, expanding customer base, and favorable industry dynamics in HVAC and refrigeration sectors.