KRN Heat Exchanger and Refrigeration Limited announced key decisions made during its Board Meeting held on January 12, 2026. The board approved the modification of a loan agreement dated April 15, 2023, with its wholly-owned subsidiary, KRN HVAC Products Private Limited. This modification allows the unsecured loan to be convertible into equity shares at the lender's discretion, with a total loan amount not exceeding ₹100 crore. The company also approved the execution of a new loan agreement dated January 12, 2026, with another wholly-owned subsidiary, Thermotech Research Laboratory Private Limited (TRL). This agreement provides an unsecured loan of ₹10 crore, to be disbursed in one or more tranches, with an interest rate of 12% per annum and a maximum tenure of 12 months.

Furthermore, the Board of Directors approved the "KRN Employee Stock Option Plan 2026" (ESOP Plan), which allows for the grant of up to 6,00,000 employee stock options, exercisable into an equal number of equity shares. This plan is subject to shareholder approval and compliance with SEBI regulations. The ESOP Plan aims to reward employees for performance and attract/retain talent. The meeting commenced at 3:35 P.M. and concluded at 4:00 P.M.