Shares of KRN Heat Exchanger and Refrigeration Ltd gained 7% to ₹885 in Tuesday’s early trade after the company announced that its subsidiary, KRN HVAC Products Pvt Ltd, has acquired the Bus Air-Conditioning division of Sphere Refrigeration Systems Pvt Ltd (SRSPL).
The acquisition marks a strategic expansion for KRN into the automotive HVAC segment, strengthening its position in the transport and mobility cooling solutions market. The company stated that the move aligns with its long-term growth and diversification strategy.
Through this acquisition, KRN will be able to integrate SRSPL’s bus climate control expertise with its existing manufacturing capabilities, helping the company broaden its product portfolio and enhance market reach. The deal is expected to boost revenue and profitability, particularly as demand grows for energy-efficient and sustainable cooling technologies in India’s transportation sector.
KRN Heat Exchanger and Refrigeration Ltd is a leading manufacturer and exporter of aluminium/copper fins, copper tube heat exchangers, water coils, and condenser and evaporator coils, serving industrial, commercial, and mobility applications within the HVAC industry.
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