KRN Heat Exchanger and Refrigeration Limited announced outcomes from its Board Meeting held on January 12, 2026. The Board approved modifications to a loan agreement dated April 15, 2023, with its wholly-owned subsidiary, KRN HVAC Products Private Limited. This modification allows the unsecured loan, with an outstanding amount of ₹99.94 crore, to be convertible into equity shares of KRN HVAC at the lender's discretion. The total loan amount is capped at ₹100 crore.

Additionally, the company approved a new unsecured loan agreement with another wholly-owned subsidiary, Thermotech Research Laboratory Private Limited (TRL), for an amount not exceeding ₹10 crore. This loan will be disbursed in one or more tranches and carries an interest rate of 12% per annum, with a maximum period of 12 months, renewable upon mutual discussion.

Furthermore, the Board approved the "KRN Employee Stock Option Plan 2026" (ESOP Plan). This plan allows for the grant of up to 6,00,000 employee stock options, exercisable into equity shares of ₹10 face value each. The ESOP Plan is in compliance with SEBI regulations and is subject to shareholder approval. The exercise price for options will be determined by the Compensation Committee, not less than 50% of the closing share price on the grant date. The meeting commenced at 3:35 P.M. and concluded at 4:00 P.M.