Subscribe for KRN Heat Exchanger and Refrigeration Ltd; KR Choksey

KR Choksey, has come out with its report on KRN Heat Exchanger and Refrigeration Ltd. The research firm has recommended to “ Subscribe” the ipo in its research report as on September 24 2024.

Broker Research

September 25, 2024 / 11:16 IST

IPO

KR Choksey, KRN Heat Exchanger and Refrigeration Ltd

KRN Heat Exchanger and Refrigeration Limited, established in 2017, is a company based in Bhiwadi, Alwar, Rajasthan. It specializes in manufacturing fin and tube-type heat exchangers, catering primarily to the HVAC&R (Heat Ventilation Air Conditioning and Refrigeration) industry. The company’s products, which include condenser coils, evaporator units and fluid coils, are made from non-ferrous metals like copper and aluminum. These products are utilized across various applications such as air conditioning, heating, ventilation, refrigeration, and process cooling. KRN’s heat exchangers come in diverse shapes and sizes, tailored to meet customer requirements and market demands. The company's robust manufacturing capabilities ensure a wide diameter range of heat exchanger tubes, making them suitable for both domestic and industrial needs.

Valuation and Outlook

By establishing KRN HVAC Products Pvt. Ltd. for new manufacturing capabilities, KRN aims to diversify its portfolio and reduce reliance on major customers, thereby mitigating risks. Based on current growth metrics and the strategic initiatives outlined, KRN is positioned for a favorable valuation. IPO is pegged at a PE multiple of 35x. In light of the impressive growth prospects, strong financials and strategic expansion initiatives, we assign a ‘SUBSCRIBE’ rating for KRN Heat Exchanger and Refrigeration Limited’s IPO.

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