KRN Heat Exchanger and Refrigeration Valuation

Q: What is the Fair Price of KRN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

KRN (₹693.4) is trading above our estimate of [[fair value]] (₹423.27)

Is KRN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of KRN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

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Below Fair Value: KRN (₹693.4) is trading above our estimate of fair value (₹423.27)

Significantly Below Fair Value: KRN is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KRN?

Key metric: As KRN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for KRN. This is calculated by dividing KRN's market cap by their current earnings.
What is KRN's PE Ratio?
PE Ratio	73x
Earnings	₹590.37m
Market Cap	₹43.93b

KRN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	8.5x
Enterprise Value/EBITDA	51.1x
PEG Ratio	1.4x

Price to Earnings Ratio vs Peers

How does KRN's PE Ratio compare to its peers?

The above table shows the PE ratio for KRN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	65x
500128 Electrosteel Castings	9.7x	0.58%	₹47.3b
526951 Stylam Industries	29.5x	20.08%	₹37.1b
GREENLAM Greenlam Industries	193.2x	66.69%	₹61.4b
532443 Cera Sanitaryware	27.9x	11.52%	₹67.0b
KRN KRN Heat Exchanger and Refrigeration	73x	53.87%	₹43.1b

Price-To-Earnings vs Peers: KRN is expensive based on its Price-To-Earnings Ratio (73x) compared to the peer average (65x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does KRN's PE Ratio compare vs other companies in the IN Building Industry?

3 Companies	Price / Earnings	Estimated Growth	Market Cap
SHANKARA Shankara Building Products	3.6x	n/a	US$28.31m
505685 Taparia Tools	0.2x	n/a	US$2.46m
539223 Ambition Mica	2.3x	n/a	US$522.30k

No more companies available in this PE range

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: KRN is expensive based on its Price-To-Earnings Ratio (73x) compared to the Indian Building industry average (25.7x).

Price to Earnings Ratio vs Fair Ratio

What is KRN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KRN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	73x
Fair PE Ratio	62.9x

Price-To-Earnings vs Fair Ratio: KRN is expensive based on its Price-To-Earnings Ratio (73x) compared to the estimated Fair Price-To-Earnings Ratio (62.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

AnalystPriceTarget

Community Contributor

₹937

Fair Value

26.0% undervalued

Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/01/19 15:17
End of Day Share Price	2026/01/19 00:00
Earnings	2025/09/30
Annual Earnings	2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

KRN Heat Exchanger and Refrigeration Limited is covered by 2 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	Dolat Capital Market Pvt. Ltd.
Yogesh Patil	Dolat Capital Market Pvt. Ltd.