Carrier Airconditioning & Refrigeration Limited Unlisted Share Price
Carrier Airconditioning & Refrigeration Limited unlisted share price is ₹515 per share (indicative, as of 18 Oct 2026). Minimum ticket ₹25,000 (lot of 49 shares), the same for every company. Sector: IT & Industrials. Status: unlisted, no DRHP on record.
All unlisted share prices: dated indicative prices for every company the desk tracks.
Updated 19 Oct 2026, 08:01 IST. Dated dealer references.
BuyUnlistedShares tracks 230 unlisted companies with dated prices; Carrier Airconditioning & Refrigeration Limited’s indicative price is ₹515 per share as of 19 Oct 2026, a lot of 49 shares.
Key facts
- Indicative price
- ₹515 per share
- Price as of
- 18 Oct 2026
- Minimum investment
- ₹25,000
- Lot size
- 49 shares
- Sector
- IT & Industrials
- Listing status
- Unlisted
- Settlement
- Demat to demat; terms agreed in writing for each deal
- Last updated
- 19 Oct 2026, 08:01 IST
Indicative and dated. BuyUnlistedShares deals as principal.
Buying at a glance
- Minimum ticket
- ₹25,000
- Price shown
- Indicative, dated 18 Oct 2026
- Delivery
- Shares are credited to your demat account
In plain words
- Lock-in if it lists
- Shares bought before an IPO are generally locked in for six months from the IPO allotment date under SEBI rules. The issue documents set the exact terms.
- Demat
- Yes. ISIN INE040I01011: the shares sit in your own demat account and move demat to demat through NSDL or CDSL.
- IPO status
- Unlisted. No DRHP on record.
Facts only, not a rating or a recommendation.
Compare it against the full unlisted share price list: every company the desk quotes, each with a dated indicative price.
Indicative move: 0.0% over 3 months · 0.0% over 1 year.
Key figures
| Market cap | ₹5,478 Cr |
|---|---|
| Minimum investment | ₹25,000 |
| Lot size | 49 |
| P/E ratio | 24.7x |
| ROE | 34.86% |
| Book value | ₹55.4 |
| Face value | ₹10 |
| 52-week high | ₹555 |
| 52-week low | ₹495 |
| ISIN | INE040I01011 |
| Dividend yield | — |
Financials (₹ Cr)
| Metric | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | 2,013 | 2,131 | 2,496 |
| PAT | 96.7 | 132 | 202 |
| EPS (₹) | 10.3 | 14.2 | 19.0 |
About the company
Carrier Airconditioning & Refrigeration Limited is the Indian arm of the global heating, ventilation, air-conditioning and refrigeration (HVACR) group, tracing its India presence back to the mid-1980s and incorporated in its present form in 1992.
Prices shown are indicative and dated. Unlisted shares are illiquid and values can move sharply.
Registered in Gurugram, Haryana.
Registry
- ISIN: INE040I01011
- Depository: NSDL & CDSL
- Listed at: Unlisted
- Price as of: 18 Oct 2026
Company facts
| CIN | U74999HR1992FLC036104 |
|---|---|
| Incorporated | 1992 |
| ISIN | INE040I01011 |
| Face value | ₹10 |
| Registered office | Narsingpur, Kherki Daula Post, Delhi-Jaipur Highway, Gurugram 122004, Haryana, India |
| Lot size | 49 shares |
| Minimum units | 20 |
| DRHP | Not filed |
Financial statements (₹ Cr)
| Metric | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 vs FY25 |
|---|---|---|---|---|---|---|
| Revenue | 1,612.1 | 2,012.7 | 2,131.1 | 2,496.1 | 3,163 | +26.7% |
| EBITDA | — | 141 | 175 | 258 | 265.7 | +3% |
| Profit before tax | — | 142 | 195 | 275 | 298.3 | +8.5% |
| Profit after tax | 42.1 | 96.7 | 131.8 | 202.5 | 221.8 | +9.5% |
| EPS (₹) | 4 | 10.3 | 14.2 | 19 | 20.85 | +9.7% |
| Operating margin | — | — | 8.2% | 10.3% | — | — |
| Net margin | — | — | 6.2% | 8.1% | — | — |
| Share capital | — | — | 106.38 | 106.38 | — | — |
| Reserves & surplus | — | — | 402.73 | 472.95 | — | — |
| Net worth | — | — | 509.11 | 579.33 | — | — |
| Fixed assets | — | — | 71.95 | 71.31 | — | — |
| Trade receivables | — | — | 331.92 | 382.76 | — | — |
| Trade payables | — | — | 687.04 | 787.94 | — | — |
| Cash from operations | — | — | 273.12 | 171.46 | — | — |
| Cash from investing | — | — | −30.04 | 284.04 | — | — |
| Cash from financing | — | — | −21.61 | −394.68 | — | — |
| Net cash generated | — | — | 221.47 | 60.82 | — | — |
Key ratios and valuation
| Measure | Value | Basis |
|---|---|---|
| Indicative price | ₹515 | dealer reference, 18 Oct 2026 |
| Market cap | ₹5,478 Cr | as recorded |
| P/E | 24.7x | price ÷ EPS ₹20.85 (FY26) |
| P/B | 9.3x | price ÷ book value ₹55.4 |
| EPS | ₹20.85 | per share, FY26 |
| Book value | ₹55.4 | per share, latest books |
| RoE | 34.86% | return on equity, latest FY |
| Debt / equity | 0 | latest balance sheet |
| Dividend yield | — | |
| Face value | ₹10 | per share |
| 52-week range | ₹495 – ₹555 | 283 dated quotes, last 12 months |
| Shares outstanding | — | not meaningful |
Shareholding pattern
| Category | Holder | % of equity |
|---|---|---|
| Promoters | Carrier Corporation, Delaware (Promoter) | 96.5% |
| Public | Public & Others | 3.5% |
Promoters 96.5% · Public 3.5%
Management and promoters
| Name | Designation | Experience |
|---|---|---|
| Sundaresan Narayanan | Managing Director | — |
| Pritesh Agrawal | Whole-time Director & CFO | — |
| Rahul Jain | Whole-time Director | — |
| Simran Thapar | Whole-time Director | — |
| Narendra S. Sisodia | Independent Director | — |
| Siraj Chaudhry | Independent Director | — |
Business model
Carrier Airconditioning & Refrigeration Limited supplies HVAC, refrigeration and associated service solutions in India. Its HVAC activity includes commercial applied products, VRF, light-commercial systems, chillers, air-handling units and related controls. The 2024 AGM transcript describes India manufacturing and portfolio localisation for cooling-only high-wall, Toshiba-branded Hi-wall and VRF products, plus locally made commercial chillers and terminal units.
It sells through channel partners and works with project customers in public infrastructure, data centres, commercial projects, healthcare and industrial applications. Its service business provides annual service agreements, retrofits, upgrades, maintenance and digital-monitoring-related support for plant-room equipment. The company also operates transport refrigeration through Carrier Transicold, supplying equipment to logistics companies and truck manufacturers with an aftermarket network, and Totaline HVAC parts.
The transcript records a planned 2024 transfer of the commercial refrigeration division to Haier Appliances India Private Limited.
Corporate actions and events
| Date | Type | Detail | Ratio / amount | Source |
|---|---|---|---|---|
| Undated | Agm | The 33rd Annual General Meeting was scheduled to be held. (26 Sep 2025) | — | Desk note |
Reports and filings
No filings uploaded yet.
Annual reports
- Carrier Airconditioning & Refrigeration Limited annual report 2024-25 (PDF)
- Carrier Airconditioning & Refrigeration Limited annual report 2023-24 (PDF)
- Carrier Airconditioning & Refrigeration Limited annual report 2022-23 (PDF)
Frequently asked questions
What does Carrier Airconditioning & Refrigeration Limited do?
It is the Indian arm of the global Carrier HVACR group, manufacturing and supplying heating, ventilation, air-conditioning and refrigeration solutions. Its portfolio spans commercial HVAC (chillers, air handling and packaged systems), residential and light-commercial air-conditioners, commercial refrigeration and cold-chain products, plus after-sales service and maintenance, operating from its base in Gurugram, Haryana.
Is Carrier Airconditioning & Refrigeration Limited listed, and how can its unlisted shares be transacted?
No. The company was historically listed in India but was delisted after an open offer and does not currently trade on the NSE or BSE main board. Its shares change hands only in the private, unlisted market. Unlisted shares are typically transacted off-market between a buyer and seller and settled into a demat account; availability, pricing and minimum lots vary by counterparty.
What determines the indicative price of its unlisted shares?
Because the shares are not exchange-traded, the indicative price is set by private negotiation between buyers and sellers and reflects factors such as the company's reported financial performance, sector demand for cooling and HVACR products, share availability and overall sentiment in the unlisted market. With limited transaction flow, quoted prices can differ between counterparties and change over time, so any figure should be treated as indicative only.
What are the key fundamentals of Carrier Airconditioning & Refrigeration Limited?
Publicly available identifiers include CIN U74999HR1992FLC036104 and ISIN INE040I01011, with a face value of ₹10 per share. The company was incorporated in 1992 and has its registered office in Gurugram, Haryana. It operates within the broader Carrier group and is majority-owned by overseas Carrier entities. These details are factual reference points and do not constitute a recommendation.
What is the Carrier Airconditioning & Refrigeration Limited unlisted share price today?
The indicative over-the-counter reference price is ₹515 per share as of 18 Oct 2026. It is a dated dealer reference, refreshed every working day.
Is Carrier Airconditioning & Refrigeration Limited listed on a stock exchange?
Not yet. Carrier Airconditioning & Refrigeration Limited changes hands in the unlisted market, over the counter and settle into your demat account through NSDL and CDSL.
What is the minimum investment in Carrier Airconditioning & Refrigeration Limited?
The minimum ticket is ₹25,000, the same for every company on the site.
What is the ISIN of Carrier Airconditioning & Refrigeration Limited?
INE040I01011. Holdings are settled in demat form through NSDL and CDSL.
How do I buy Carrier Airconditioning & Refrigeration Limited unlisted shares?
Send an enquiry with the quantity you have in mind. The desk replies with a dated quote, the paperwork list and the demat steps, and the shares settle demat to demat into your own account.
Is there a lock-in if Carrier Airconditioning & Refrigeration Limited lists?
Pre-IPO shareholders other than promoters are generally locked in for six months from the date of IPO allotment under SEBI ICDR regulation 17. The final offer document sets the exact terms.
Sources
- Carrier Airconditioning & Refrigeration Limited annual report 2024-25 · FY 2024-25 · carrier.com
- Carrier Airconditioning & Refrigeration Limited annual report 2023-24 · FY 2023-24 · carrier.com
- Carrier Airconditioning & Refrigeration Limited annual report 2022-23 · FY 2022-23 · carrier.com
- BuyUnlistedShares indicative price series for Carrier Airconditioning & Refrigeration Limited, dated daily · since 17 Sep 2025 (306 dated quotes) · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Carrier Airconditioning & Refrigeration Limited unlisted share price”, https://buyunlistedshares.com/unlisted-shares/carrier-airconditioning-and-refrigeration-limited, as of 19 Oct 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk, run by Gayatri Financial Synergy LLP. In the market since 2002. Data as of 19 Oct 2026.
Before you buy: guides
- How to evaluate an unlisted company before investing
- How Unlisted Share Prices Are Discovered When There Is No Live Order Book
- The risks of buying unlisted and pre-IPO shares in India
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