Carrier Airconditioning and Refrigeration Limited

Carrier Airconditioning and Refrigeration Limited

e-Commerce Unlisted Active
INE040I01011 Est. 1936 Website
Current Price 24 Aug 2026
₹575.00

Min lot: 100 shares

Market Cap ₹6,118 Cr
P/E Ratio 30.2x
EPS ₹19.03
Face Value ₹10.00
Book Value ₹54.45
P/B Ratio 10.56x
Min Lot 100 sh.
Total Debt ₹0 Cr

Price Trend

Period Change
Period High
Period Low

Prices shown are indicative unlisted-market bid prices, updated periodically.

About Carrier Airconditioning and Refrigeration Limited

Willis Carrier invented modern air conditioning. The Indian arm of the company carrying his name has been here since 1936, which is a long time to be selling cooling in a country this hot.

Carrier Airconditioning and Refrigeration is based in Gurugram and is the Indian subsidiary of Carrier Global Corporation in the US. It makes, supplies and trades air conditioners and refrigeration equipment, for India and for export.

The commercial catalogue runs deep. Cassette and ducted systems, chillers and heat pumps, air handlers, floor standing units, VRF systems, fan coils, air purifiers, and fire and security products on top of all that. Installation, repair, maintenance and retrofitting come with it.

The plant at Bawal in Haryana is the largest AC manufacturing facility in India and turns out more than 700,000 units a year. Fourteen sales and service offices and over 800 channel partners cover the rest of the country.

Financial Highlights

All figures are in Crores (₹)

FY21FY22FY23FY24FY25 YOY %CAGR %
Net Sales1,2181,6122,1972,1312,496+17.1%+19.6%
Other Income22.820.124.128.647.4+65.7%+20.1%
Total Income1,2411,6322,2212,1602,544+17.8%+19.7%
Operating Profit63.883.2165.0202.3305.4+51.0%+47.9%
Interest10.52.702.102.102.30+9.5%-31.6%
Depreciation19.923.521.124.727.8+12.6%+8.7%
Total Expenditure1,2081,5752,0801,9842,268+14.3%+17.1%
Exceptional Income0.000.000.000.000.00
PBT33.457.0141.8175.5275.2+56.8%+69.4%
TAX16.714.931.943.772.8+66.6%+44.5%
PAT16.742.1109.9131.8202.5+53.6%+86.6%
EPS (₹)₹1.57₹3.96₹10.33₹12.39₹19.03+53.6%+86.6%
FY21FY22FY23FY24FY25 YOY %CAGR %
Shareholder Funds237.1272.3372.6509.1579.3+13.8%+25.0%
Total Debt0.000.000.000.000.00
Current Liabilities476.8565.6684.6842.3977.2+16.0%+19.6%
Non Current Liabilities63.774.779.885.791.4+6.7%+9.4%
Total Liabilities777.5912.51,1371,4831,648+11.1%+20.7%
Current Assets607.2740.6953.01,2251,405+14.7%+23.3%
Non Current Assets170.4172.0184.0211.9242.9+14.6%+9.3%
Total Assets777.5912.51,1371,4831,648+11.1%+20.7%
FY21FY22FY23FY24FY25 YOY %CAGR %
Cash Flow From Operating Activities135.276.1161.5273.1171.5-37.2%+6.1%
Cash Flow From Investing Activities-11.4-9.00-8.10-30.0284.0+1,046.7%+123.4%
Cash Flow From Financing Activities-159.2-15.6-20.0-21.6-394.7-1,727.3%-25.5%
Free Cash Flow121.366.4148.6255.6123.7-51.6%+0.5%
FY21FY22FY23FY24FY25YOY %
ROE(%)7.0015.5029.5025.9035.00+35.1%
ROCE(%)8.209.1014.5013.6018.50+36.0%
ROA(%)2.104.609.708.9012.30+38.2%
Current Ratio(x)1.301.301.401.501.40-6.7%
Debt / Equity(x)0.000.000.000.000.00

No documents available yet.

FY17FY18FY19FY20 YOY %CAGR %
Net Sales1,3441,3251,4771,524+3.2%+4.3%
Other Income39.830.834.625.0-27.7%-14.3%
Total Income1,3831,3561,5111,549+2.5%+3.9%
Operating Profit128.3123.0117.8114.9-2.5%-3.6%
Interest0.840.951.5716.2+931.2%+168.1%
Depreciation7.899.048.0318.0+124.7%+31.7%
Total Expenditure1,2551,2331,3941,435+2.9%+4.6%
Exceptional Income
PBT119.6113.0108.280.7-25.5%-12.3%
TAX
PAT80.772.968.047.1-30.8%-16.4%
EPS (₹)₹7.58₹6.85₹6.40₹4.43-30.8%-16.4%
FY17FY18FY19FY20 YOY %CAGR %
Shareholder Funds520.6218.1-58.1%
Total Debt153.4
Current Liabilities354.5404.0447.4590.1+31.9%+18.5%
Non Current Liabilities49.455.960.069.5+15.8%+12.1%
Total Liabilities890.41,0261,028877.7-14.6%-0.5%
Current Assets754.0882.0853.6702.4-17.7%-2.3%
Non Current Assets136.4143.8174.4175.3+0.5%+8.7%
Total Assets890.41,0261,028877.7-14.6%-0.5%
FY17FY18FY19FY20 YOY %CAGR %
Cash Flow From Operating Activities40.644.790.858.1-36.0%+12.7%
Cash Flow From Investing Activities6.3115.5-16.127.8+272.3%+63.9%
Cash Flow From Financing Activities-0.28-188.1-54.3-204.2-276.4%-800.1%
Free Cash Flow46.960.274.785.9+15.0%+22.3%
FY17FY18FY19FY20YOY %
ROE(%)13.1021.60+64.9%
ROCE(%)14.4012.0011.5013.10+13.9%
ROA(%)9.107.106.605.40-18.2%
Current Ratio(x)2.102.201.901.20-36.8%
Debt / Equity(x)0.000.70

Net Sales (in Cr.)

Total Income (in Cr.)

Net Profit (in Cr.)

Operating Profit (in Cr.)

Shareholder Funds (in Cr.)

Total Assets (in Cr.)

Operating Cash Flow (in Cr.)

Investing Cash Flow (in Cr.)

Financing Cash Flow (in Cr.)

Free Cash Flow (in Cr.)

Company Information

ISIN INE040I01011
Industry e-Commerce
Category Pre IPO
Incorporated 1936
Min Lot Size 100 shares
Demat Required Yes
ROFR Applicable No

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