KRN Heat Exchanger IPO: Leading Heat Exchanger Solutions, Investment Opportunity

IPO Details

Opening Date
Close Date
Allotment Date
Listing Date
Face Value
Issue Price
Market Lot
Total Issue Size

How to Analyze an IPO: A Comprehensive Guide for Investors

Overview

KRN Heat Exchanger and Refrigeration Limited, a prominent player in the Indian heat exchanger industry, is launching its Initial Public Offering (IPO) as part of its growth strategy. Established in 2017 and headquartered in Neemrana, Rajasthan, the company specializes in the design, manufacturing, and servicing of high-performance heat exchangers and refrigeration equipment. With a robust product portfolio, KRN Heat Exchanger serves industries like HVAC, chemical, power, oil & gas, and more. The company’s strong technical expertise and commitment to quality have positioned it as a trusted partner for both domestic and international clients.

KRN Heat Exchanger and Refrigeration Limited’s IPO consists of a fresh issue of up to 1,55,23,000 equity shares with a face value of ₹10 each, aggregating to ₹[●] Lakhs. The funds raised through this IPO will be used for expansion of manufacturing facilities, working capital needs, debt repayment, and general corporate purposes. This IPO presents an excellent opportunity for investors looking to gain exposure in the industrial manufacturing sector, particularly in the growing heat exchanger market.

The company’s strategic location in Neemrana, a part of Rajasthan’s industrial hub, offers key advantages in terms of logistics and operational efficiency. With a dedicated in-house R&D team and cutting-edge technology, KRN Heat Exchanger focuses on innovation and customization, ensuring it meets the evolving needs of its clients.

The shares are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Potential investors should take note of the bid/issue opening and closing dates, and stay informed about the price band, which will be announced prior to the IPO.

Invest in KRN Heat Exchanger and Refrigeration Limited to be part of a dynamic, growing company that is shaping the future of industrial heat exchanger technology.

Company Financial

Restated Summary Statement of Assets and Liabilities

Hyundai Motor India Limited - Restated Consolidated Statement of Assets and Liabilities	As at June 30, 2024	As at June 30, 2023	As at March 31, 2024	As at March 31, 2023	As at March 31, 2022
Assets
Non-current assets
Property, plant and equipment	63,786.92	64,386.51	67,135.59	57,656.36	62,290.52
Capital work-in-progress	9,721.25	7,081.22	6,528.42	13,366.35	5,291.25
Right-of-use assets	6,134.07	560.8	6,183.42	577.65	662.96
Intangible assets	2,612.91	3,059.09	2,825.26	3,270.32	3,758.62
Other financial assets	629.21	546.31	624.12	516.97	493.98
Deferred tax assets (net)	9,896.71	8,755.07	9,477.90	8,265.99	6,156.74
Non-current tax assets (net)	7,012.78	6,212.66	6,886.39	6,146.71	2,081.53
Other non-current assets	3,031.11	2,215.73	2,590.92	2,313.36	2,046.57
Total non-current assets	1,02,824.96	92,817.39	1,02,252.02	92,113.71	82,782.17
Current assets
Inventories	28,882.93	35,943.73	33,156.29	34,224.09	28,811.20
Trade receivables	23,581.40	26,434.06	25,100.26	28,971.92	21,824.07
Cash and cash equivalents	45,042.88	64,630.48	9,732.15	1,77,411.47	1,41,388.42
Bank balance other than above	40,084.95	1,28,065.91	80,441.30	-	-
Loans	-	-	-	659.48	154.94
Other financial assets	3,718.15	3,003.44	3,439.24	4,539.58	3,005.15
Other current assets	9,567.12	6,153.82	9,371.19	7,813.17	5,614.63
Total current assets	1,50,877.43	2,64,231.44	1,61,240.43	2,53,619.71	2,00,798.41
Total assets	2,53,702.39	3,57,048.83	2,63,492.45	3,45,733.42	2,83,580.58
Equity and Liabilities
Equity
Equity share capital	8,125.41	8,125.41	8,125.41	8,125.41	8,125.41
Reserves and surplus	1,13,361.69	2,05,682.88	98,531.16	1,92,422.77	1,60,437.14
Total equity	1,21,487.10	2,13,808.29	1,06,656.57	2,00,548.18	1,68,562.55
Non-current liabilities
Borrowings	6,016.98	6,862.07	6,227.97	7,065.66	7,667.10
Lease liabilities	533.54	259.3	557.68	267.23	307.47
Provisions	8,671.35	8,270.03	8,467.39	8,037.65	7,743.02
Other non-current liabilities	11,968.21	10,119.09	11,610.97	9,759.55	7,378.07
Total non-current liabilities	27,190.08	25,510.49	26,864.01	25,130.09	23,095.66
Current liabilities
Borrowings	1,564.46	5,968.92	1,451.18	4,520.34	3,733.23
Lease liabilities	96.62	34.25	95.58	40.24	68.95
Total outstanding dues of micro enterprises and small enterprises	1,831.52	2,072.11	2,158.18	1,536.92	1,274.98
Total outstanding dues of creditors other than micro enterprises and small enterprises	72,963.46	72,772.39	72,871.39	52,779.30
Other financial liabilities	6,031.06	8,809.48	5,759.74	8,067.47	4,263.43
Other current liabilities	15,466.82	17,948.80	39,327.93	25,342.17	23,789.21
Provisions	4,580.67	4,393.04	4,528.20	4,539.05	4,027.33
Current tax liabilities (net)	6,735.79	5,539.99	3,878.67	3,137.57	1,985.94
Total current liabilities	1,05,025.21	1,17,730.05	1,29,971.87	1,20,055.15	91,922.37
Total liabilities	1,32,215.29	1,43,240.54	1,56,835.88	1,45,185.24	1,15,018.03
Total equity and liabilities	2,53,702.39	3,57,048.83	2,63,492.45	3,45,733.42	2,83,580.58

Statement of Profit and Loss

Hyundai Motor India Limited - Restated Consolidated Statement of Profit and Loss (including other comprehensive income)	For the period ended June 30, 2024	For the period ended June 30, 2023	For the year ended March 31, 2024	For the year ended March 31, 2023	For the year ended March 31, 2022
Income
Revenue from operations	1,73,442.34	1,66,235.11	6,98,290.57	6,03,075.80	4,73,784.32
Other income	2,237.50	3,881.00	14,732.68	11,290.62	5,876.16
Total income	1,75,679.84	1,70,116.11	7,13,023.25	6,14,366.42	4,79,660.48
Expenses
Cost of materials consumed	1,17,638.35	1,18,640.95	5,12,979.91	4,45,086.35	3,52,308.08
Purchases of stock-in-trade	1,801.24	816.14	4,334.27	6,564.16	6,564.05
Changes in inventories of finished goods, work-in-progress, and stock-in-trade	5,337.45	6,557.53	-1,384.74	-1,351.21	-621.2
Employee benefits expense	5,527.69	4,794.67	19,754.88	17,662.26	16,476.38
Finance costs	316.4	371.86	1,580.79	1,424.01	1,319.13
Depreciation and amortisation expense	5,289.81	5,596.90	22,079.31	21,898.66	21,695.86
Other expenses	19,868.85	15,555.02	71,820.52	60,098.70	44,397.74
Cost of materials consumed for own use	-133.78	-101.75	-540.43	-472.26	-201.61
Total expenses	1,55,646.01	1,52,231.32	6,30,624.51	5,50,910.67	4,41,938.42
Profit before tax	20,033.83	17,884.79	82,398.74	63,455.75	37,722.06
Tax expense
Current tax	5,533.93	5,071.33	22,965.26	18,414.53	10,377.87
Deferred tax (net)	-396.62	-478.4	-1,166.96	-2,051.28	-1,671.72
Total tax expense	5,137.31	4,592.93	21,798.30	16,363.25	8,706.15
Profit for the period / year	14,896.52	13,291.86	60,600.44	47,092.50	29,015.91
Other comprehensive income ('OCI') for the period / year
Remeasurements of net defined benefit liability / (asset)	-88.18	-42.43	-178.57	-230.33	36.11
Income tax relating to items that will not be reclassified to profit or loss	22.19	10.68	44.95	57.97	-9.09
Total other comprehensive income / (loss)	-65.99	-31.75	-133.62	-172.36	27.02
Total comprehensive income for the period / year	14,830.53	13,260.11	60,466.82	46,920.14	29,042.93

Board of Directors of Company

Here are the Board of Directors for KRN Heat Exchanger and Refrigeration Limited

1.Mr. Santosh Kumar Yadav – Managing Director and Promoter
2. Mrs. Anju Devi – Director and Promoter
3. Mr. Manohar Lal– Director and Promoter

These individuals are the primary members involved in leading the company’s strategic and operational activities.

Company contact Details

Registered and Corporate Office: Plot No. F – 46, 47, 48, 49,
EPIP, RIICO Industrial Area,
Neemrana, Alwar, Rajasthan – 301705, India

Contact Person:
Mr. Praveen Kumar (Company Secretary and Compliance Officer)

Email: cs@krnheatexchanger.com
Telephone: +91-9257025440
Website: www.krnheatexchanger.com