| P&L Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | 1612 | 2197 | 2131 | 2496 |
| Cost of Material Consumed | 1087 | 1502 | 1363 | 1534 |
| Change in Inventory | -66 | -28 | -45 | -23 |
| Gross Margins | 36.66 | 32.91 | 38.15 | 39.46 |
| Employee Benefit Expenses | 166 | 169 | 1777 | 187 |
| Other Expenses | 362 | 413 | 461 | 540 |
| EBITDA | 63 | 141 | 175 | 258 |
| OPM | 3.91 | 6.42 | 8.21 | 10.34 |
| Other Income | 20 | 24 | 47 | 47 |
| Finance Cost | 3 | 2 | 2 | 2 |
| D&A | 23 | 21 | 25 | 28 |
| EBIT | 40 | 120 | 150 | 230 |
| EBIT Margins | 2.48 | 5.46 | 7.04 | 9.21 |
| PBT | 57 | 142 | 195 | 275 |
| PBT Margins | 3.54 | 6.46 | 9.15 | 11.02 |
| Tax | 15 | 32 | 44 | 73 |
| PAT | 42 | 110 | 151 | 202 |
| NPM | 2.61 | 5.01 | 7.09 | 8.09 |
| EPS | 3.95 | 10.38 | 14.21 | 18.99 |
| Financial Ratios | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating Profit Margin | 3.91 | 6.42 | 8.21 | 10.34 |
| Net Profit Margin | 2.61 | 5.01 | 7.09 | 8.09 |
| Earning Per Share (Diluted) | 3.95 | 10.38 | 14.21 | 18.99 |
| Assets | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Fixed Assets | 68 | 65 | 84 | 79 |
| CWIP | 0.6 | 9 | 5 | 33 |
| Investments | 0 | 0 | 0 | 0 |
| Trade Receivables | 257 | 324 | 332 | 383 |
| Inventory | 337 | 344 | 379 | 422 |
| Other Assets | 249.4 | 395 | 683 | 731 |
| Total Assets | 912 | 1137 | 1483 | 1648 |
| Liabilities | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Share Capital | 106.3 | 106 | 106.3 | 106.38 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 166 | 266 | 403 | 473 |
| Borrowings | 0 | 0 | 0 | 0 |
| Trade Payables | 431 | 529 | 687 | 788 |
| Other Liabilities | 208.7 | 236 | 286.7 | 280.62 |
| Total Liabilities | 912 | 1137 | 1483 | 1648 |
| Cash-Flow Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| PBT | 57 | 142 | 200 | 275 |
| OPBWC | 76 | 160 | 211 | 297 |
| Change in Receivables | 19 | -63 | -36 | -65 |
| Change in Inventories | -89 | -14 | -52 | -62 |
| Change in Payables | 68 | 107 | 198 | 116 |
| Other Changes | 17 | 12 | 15 | -2 |
| Working Capital Change | 15 | 42 | 125 | -13 |
| Cash Generated From Operations | 91 | 202 | 336 | 284 |
| Tax | -15 | -40 | -63 | -113 |
| Cash Flow From Operations | 76 | 162 | 273 | 171 |
| Purchase of PPE | -9.6 | -13 | -36 | -48 |
| Sale of PPE | 0.3 | 0 | 0 | 0.23 |
| Cash Flow From Investment | -9 | -8 | -21.6 | 284 |
| Borrowing | 0 | 0 | 0 | -383 |
| Dividend | -5.7 | -10 | -10.7 | 0 |
| Equity | 0 | 0 | 0 | 0 |
| Others From Financing | -9.8 | -10 | -10.9 | -11 |
| Cash Flow from Financing | -15.5 | -20 | -21.6 | -394 |
| Net Cash Generated | 51.5 | 134 | 229.8 | 61 |
| Cash at the Start | 13 | 65 | 198.2 | 420 |
| Cash at the End | 64.5 | 199 | 428 | 481 |
Carrier Airconditioning & Refrigeration Limited is one of India’s leading HVAC (Heating, Ventilation, and Air Conditioning) companies, known for its advanced cooling technologies, energy-efficient products, and strong engineering expertise. As a subsidiary of Carrier Global Corporation, a global pioneer in air-conditioning solutions, the company has built a strong presence across residential, commercial, and industrial segments in India. Carrier India specializes in air conditioners, chillers, refrigeration units, and cold-chain equipment, offering high-performance solutions backed by innovation, sustainability, and world-class manufacturing standards. With a robust distribution network and a reputation for reliable after-sales service, Carrier continues to be a trusted brand among corporates, institutions, and households.
The unlisted shares of Carrier Airconditioning & Refrigeration Limited have drawn increasing interest from investors due to the company’s steady financial performance, strong market reputation, and leadership in energy-efficient cooling technologies. Rising demand for air conditioning in homes, offices, data centers, and industrial units has boosted the company’s long-term growth potential. Carrier India benefits from its global parent company’s R&D strength, which allows it to introduce advanced, eco-friendly cooling systems tailored to Indian climatic conditions. Investors view the company as a stable and growth-oriented business with solid cash flows, a strong product lineup, and significant presence across both B2B and B2C markets. Limited share availability in the private market also increases the desirability of its unlisted stock.
Looking ahead, Carrier Airconditioning & Refrigeration Limited’s unlisted shares remain attractive as the company expands into smart cooling solutions, green buildings, and climate-friendly refrigeration products. With India’s rising disposable income, sustained construction activity, and growing demand for energy-efficient appliances, Carrier is well-positioned to capitalize on future opportunities. Government policies promoting sustainability and eco-friendly HVAC solutions are expected to further strengthen the company’s growth trajectory. For investors seeking exposure to a stable manufacturing and technology-driven company in the unlisted space, Carrier Airconditioning & Refrigeration Limited offers a compelling long-term investment proposition.
Q:1 How do I confirm my booking for Carrier Airconditioning & Refrigeration Limited Unlisted Shares?Answer: You can confirm your booking by contacting us and agreeing on a trading price for the Carrier Airconditioning & Refrigeration Limited Unlisted Shares.
Q:2 What documents do I need to provide to buy the shares?Answer: You need to provide your client master report, PAN Card, and a cancelled cheque if you are not transferring funds from the bank account mentioned in the CMR Copy.These are KYC documents required as per SEBI regulations.
Q:3 How will I receive the bank details for the fund transfer?
Answer: We will provide you with the necessary bank details after you confirm your booking for the shares.
Q:4 What payment methods are accepted for purchasing the shares?Answer: Payment can be made through RTGS, NEFT, IMPS, or cheque transfer.Please note that cash deposits are not accepted.
Q:5 Can I transfer funds from any bank account to purchase the shares?
Answer: No, payment must be done from the same bank account where the shares are to be credited.
Q:6 What if I don't have a client master report?
Answer: If you do not have a client master report, you should ask your broker for it, as it is one of the required KYC documents.
Q:7 Is there a specific timing for making the payment?Answer: While there is no specific timing mentioned, ensure that your payment is done promptly after confirming your booking to avoid any delays in the transaction.
Q:8 Are there any restrictions on cash payments for purchasing shares?Answer: Yes, cash deposits are strictly prohibited for purchasing the shares, and all payments must be made through electronic methods or cheque transfer.