Summary of Key Information:

Reporting Period: Quarter and Half Year Ended 30th September, 2026

Nature of Filing / Announcement: Outcome of Board Meeting pursuant to Regulation 30 of SEBI LODR

Audit Opinion:

Clean - Limited Review Report issued by Statutory Auditors with no modifications

Key Financial Highlights [in lakhs]:

Consolidated Results:

For Quarter Ended 30th September 2026:

  • Revenue from Operations: ₹31,913.58
  • Total Income: ₹32,662.21
  • Net Profit: ₹3,611.12
  • EPS: ₹5.52

For Half Year Ended 30th September 2026:

  • Revenue from Operations: ₹57,145.28
  • Total Income: ₹58,171.67
  • Net Profit: ₹6,900.67
  • EPS: ₹10.72

Comparisons:

  • Q2 FY26 Revenue growth of 110% YoY (₹31,913.58 vs ₹15,206.82 in Q2 FY25)
  • H1 FY26 Revenue growth of 114% YoY (₹57,145.28 vs ₹26,735.03 in H1 FY25)
  • Q2 FY26 Net Profit growth of 100% YoY (₹3,611.12 vs ₹1,802.12 in Q2 FY25)
  • H1 FY26 Net Profit growth of 127% YoY (₹6,900.67 vs ₹3,044.20 in H1 FY25)

Standalone Results:

For Quarter Ended 30th September 2026:

  • Revenue from Operations: ₹16,706.54
  • Total Income: ₹17,007.35
  • Net Profit: ₹1,555.69
  • EPS: ₹2.37

For Half Year Ended 30th September 2026:

  • Revenue from Operations: ₹34,903.69
  • Total Income: ₹35,446.67
  • Net Profit: ₹3,422.53
  • EPS: ₹5.32

Segment-wise Performance:

Consolidated Segment Revenue [in lakhs]:

Q2 FY26:

  • India: ₹24,575.48 (77% of total)
  • Overseas: ₹7,338.10 (23% of total)

H1 FY26:

  • India: ₹44,569.48 (78% of total)
  • Overseas: ₹12,575.80 (22% of total)

Country-wise Export Revenue (H1 FY26) [in lakhs]:

  • USA: ₹5,501.30
  • United Kingdom: ₹997.51
  • Brazil: ₹1,611.67
  • France: ₹1,593.03
  • Canada: ₹1,611.67
  • 11 other countries contributing remaining exports

Corporate Actions:

QIP Completion (June 2026):

  • Allotted 33,01,886 equity shares of face value ₹10 each
  • Issue price: ₹1,060 per share (including premium of ₹1,050)
  • Total proceeds: ₹34,999.99 lakhs (net of expenses: ₹34,179.48 lakhs)
  • Utilization: ₹3,000.00 lakhs for debt repayment, ₹23,525.75 lakhs for subsidiary working capital, ₹7,653.73 lakhs for general corporate purposes
  • Fully utilized as of reporting date

IPO Fund Utilization:

  • Total IPO proceeds (net): ₹31,111.66 lakhs
  • ₹23,575.66 lakhs invested in subsidiary KRN HVAC Products for new manufacturing facility
  • ₹7,536.00 lakhs for general corporate purposes
  • Fully utilized as of reporting date

Other Significant Information:

  • Company manufactures fin and tube type heat exchangers for HVAC&R industry using non-ferrous metals (copper and aluminium)
  • Product range includes condenser coils, evaporator units, header/copper parts, fluid and steam coils, sheet metal parts
  • Subsidiaries included in consolidation: KRN HVAC Products Private Limited and Thermotech Research Laboratory Private Limited
  • Subsidiaries contributed revenue of ₹23,984.39 lakhs (Q2) and ₹40,517.14 lakhs (H1)

Balance Sheet Highlights [Consolidated, in lakhs]:

As at 30th September 2026:

  • Total Assets: ₹1,37,979.89
  • Equity Share Capital: ₹6,545.85
  • Other Equity: ₹91,880.12
  • Cash and Cash Equivalents: ₹14,133.52
  • Total Debt: ₹15,317.83 (Short-term: ₹15,302.76, Long-term: ₹15.07)

Comparison with 31st March 2026:

  • Total Assets increased by ₹44,798.29 lakhs (48% growth)
  • Equity increased by ₹41,026.49 lakhs (71% growth)
  • Cash and equivalents increased by ₹13,134.73 lakhs