Multibagger IPO: Shares of KRN heat exchanger and refrigeration company jumped 40% in the five days following the release of second-quarter 2024 results.
KRN Heat Exchanger shares rose more than 12% intraday Thursday. KRN Heat Exchanger shares have been rising regularly since the release of second-quarter results, rising more than 40% in the past five days.
In the quarter ended September, KRN Heat Exchanger’s standalone revenue spanned $1 billion marks.
KRN Heat Exchangers, one of the leading manufacturers and exporters specializing in aluminum/copper fins, copper tube heat exchangers, water coils, condenser and evaporator coils, reports revenue growth of 39% year-on-year
Second quarter results highlights
At the comprehensive level, KRN heat exchanger revenue also increased by 28.41%.
KRN heat exchanger’s consolidated net profit increased 43% year-on-year to $123.7 Crores Rs. $865 crore in the same period last year.
Ebitda margin increased 124 basis points from last year to 21.34%
Other highlights include consolidated geographic revenue distribution for the second quarter of fiscal 2025. And domestic (India) sales contribution: 80.89%, equivalent to $73.69 Crores, international revenue contributed 19.11%, equivalent to $1740 Crores Rs.
Investment expansion highlights include KRN Heat Exchangers KRN HVAC Products Private Limited, a wholly-owned subsidiary, recently signed a memorandum of understanding with the Government of Rajasthan outlining a proposed investment $1,000 crore, underscoring KRN’s commitment to growth and manufacturing excellence in the region
Multibagger returns after launch
KRN Heat Exchanger’s share price is $On October 3, 2024, 480 companies launched IPOs on the exchange, which opened for subscription on September 25 and closed on September 27, 2024.
KRN Heat Exchanger stock itself went public at a price significantly higher than KRN Heat Exchanger’s IPO price $220 and, the stock is currently trading at $640 level, Multibagger returns in short term since IPO
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