Skip to main content
HOMEUNLISTED SHARESIPO CALENDARROAD TO IPOBLOGSPARTNER WITH US
MORE TO EXPLORE
OPEN DEMAT
ENQUIRE NOW
‹ ALL UNLISTED SHARES
Carrier Airconditioning & Refrigeration Limited logo
UNLISTED COMPANY PROFILE

CARRIER AIRCONDITIONING & REFRIGERATION LIMITED

INDUSTRIALS LINE
INDICATIVE PRICE / SHARE
₹515
▲ +0.0% · 30-DAY
OTC REFERENCE PRICE · NOT AN OFFER TO DEAL
PRICE AS OF 03 SEPT 2026
VIEW DATA METHOD →
REQUEST CURRENT DETAILS →
INDICATIVE PRICE HISTORY · DATED OBSERVATIONS SINCE 2021

PRICE HISTORY.

Use the left and right arrow keys to inspect dated observations. Home selects the first observation and End selects the latest.

₹650
₹225
01 Nov 2102 Apr 2603 Sept 26

ALL-TIME LOW
₹225
ALL-TIME HIGH
₹650
WINDOW
ALL
NOT A STOCK-EXCHANGE QUOTE · NOT AN OFFER TO DEAL
THE TIMETABLE · KEY NUMBERS

Key numbers

Published fundamentals and the date each figure was recorded.

CALCULATION METHOD →
Market cap
₹5,478 Cr
Latest available company data
Min. investment
₹10,300
Indicative price × lot size
Lot size
20
P/E ratio
27.11
P/B ratio
9.30
EPS
19
ROE
34.86%
Book value
₹55.4
Face value
₹10
ISIN
INE040I01011
Company security identifier
THE BUSINESS · HOW IT EARNS

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.

About this 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. Headquartered in Gurugram, Haryana, the company designs, manufactures, sells and services a broad portfolio of cooling and climate-control products, with manufacturing and engineering operations anchored around its Gurgaon facility. The business spans several segments. In commercial HVAC it supplies chillers, air handling units, ducted and packaged systems, and building automation for offices, malls, hospitals, hotels and industrial plants. In residential and light-commercial air-conditioning it offers room and split units. The company is also active in commercial refrigeration and cold-chain solutions, and it earns recurring revenue from after-sales service, spare parts, annual maintenance contracts and retrofit work across its large installed base. Its product engineering and distribution network extend across India, supporting infrastructure, data-centre, healthcare and process-cooling applications. Carrier carries strong parentage. The company is a subsidiary within the Carrier group lineage, with the overwhelming majority of equity held by overseas Carrier entities, giving it access to global technology, brand recognition and product platforms. The Carrier name is one of the most established in the climate-control industry worldwide. The company was historically listed in India but was delisted following an open offer, and its equity is no longer traded on the NSE or BSE main board. As a result, its shares now change hands only in the private, unlisted market, where they draw interest as a way to gain exposure to a well-known multinational HVACR brand with a long Indian operating history, branded distribution and a domestic manufacturing footprint. Investor attention also reflects the broader growth in air-conditioning, cold-chain and energy-efficient cooling demand in India. As an unlisted security, its indicative price is set by private buyer-seller negotiation and limited transaction flow rather than a continuous exchange order book, and reported quotes can vary between counterparties and over time.

COMPANY AT A GLANCE
Sector lineIndustrials
SettlementNSDL / CDSL
Incorporated1992
Listing statusUnlisted / Pre-IPO
*INDICATIVE · TIMELINE MAY CHANGE · NOTHING FINAL UNTIL THE RHP

COMPANY REGISTRY · ON FILE

PUBLIC OR ADMIN-SUPPLIED DATA · VERIFY INDEPENDENTLY
CIN
U74999HR1992FLC036104
PAN
AAACC8414B
Incorporated
1992
Outstanding shares
10,63,76,745 (approx 10.64 crore shares)
Registered office
Narsingpur, Kherki Daula Post, Delhi-Jaipur Highway, Gurugram 122004, Haryana, India
GET COMPANY UPDATES
Leave your email — our desk keeps you posted on this company.
THE LOGBOOK · FINANCIALS BY YEAR

WHAT THE ENGINE HAS DONE.

AMOUNT UNIT NOT VERIFIEDFY21FY22FY23FY24FY25
REVENUE1,21,8101,61,2102,01,2702,13,1102,49,610
PAT1,6704,2109,67013,18020,250
EPS (₹)4101419
PAT MARGIN1%3%5%6%8%
CAUTION · AMOUNT UNIT AND FIELD-LEVEL SOURCES HAVE NOT BEEN VERIFIED · DO NOT RELY ON THESE FIGURES WITHOUT CHECKING THE COMPANY FILING

THE CREW · BOARD & MANAGEMENT

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
COMPANY TIMELINE · EVENTS
The 33rd Annual General Meeting was scheduled to be held. (26 Sep 2025)
READ THE NOTICE →
THE GLOVEBOX · ANNUAL REPORTS
ENQUIRE NOW →
NON-BINDING · NO PAYMENT · NOT AN OFFER TO DEAL
RESEARCH DESK · QUESTIONS

COMMON QUESTIONS.

Is Carrier Airconditioning & Refrigeration Limited listed on the stock exchange?+

No. As of 3 September 2026, Carrier Airconditioning & Refrigeration Limited is an unlisted company whose shares trade over-the-counter; it would list only if and when it completes an IPO.

What is the Carrier Airconditioning & Refrigeration Limited unlisted share price?+

As of 3 September 2026, the indicative unlisted share price of Carrier Airconditioning & Refrigeration Limited is ₹515 per share. This is an over-the-counter reference price, not a stock-exchange quote.

What indicative minimum amount is displayed for Carrier Airconditioning & Refrigeration Limited unlisted shares?+

The displayed unit count is 20 share(s); at the indicative price of about ₹515, the displayed amount is approximately ₹10,300. This is a display convention, not evidence of inventory, an order minimum or a quote.

What is the ISIN of Carrier Airconditioning & Refrigeration Limited?+

The recorded ISIN of Carrier Airconditioning & Refrigeration Limited is INE040I01011. An ISIN is a 12-character security identifier. Verify it against the issuer and the relevant depository record before using it for any transfer or documentation.

Is trading in Carrier Airconditioning & Refrigeration Limited unlisted shares legal in India?+

Unlisted shares can be transferred off-market in India, but the legal, tax and compliance position depends on the security, parties, documents and current rules. Verify the intermediary, issuer restrictions and applicable requirements before proceeding.

Is there a lock-in period for unlisted shares?+

A post-listing lock-in may apply under the rules in force at the time. The period and any exemptions can depend on the holder and acquisition, so check the current regulation and the issuer's offer documents rather than relying on a generic period.

Do you guarantee returns?+

No. Unlisted shares carry higher risk and lower liquidity than listed shares. Returns depend on company performance, market conditions and future listing outcomes. This is information only, not investment advice.

SIMILAR COMPANY PROFILES
INDUSTRIALS LINE.
Prices shown are indicative over-the-counter reference prices, not an offer to deal. This page is information only and not investment advice. Unlisted shares carry higher risk and lower liquidity than listed shares. Settlement to your own demat account via NSDL / CDSL through registered intermediaries.
© 2026 BUYUNLISTEDSHARES · A BRAND OF GAYATRI FINANCIAL SYNERGY · SINCE 2002 · ‹ BACK TO HOME
TODAY'S INDICATIVE PRICES — PARAG PARIKH FINANCIAL ADVISORY SERVICES LIMITED ₹20,200 · CAPGEMINI TECHNOLOGY SERVICES INDIA LIMITED ₹10,400 · HDFC SECURITIES LIMITED ₹7,990 · NATIONAL STOCK EXCHANGE (NSE) ₹1,975 · BOAT (IMAGINE MARKETING LIMITED) ₹895 · CHENNAI SUPER KINGS (CSK) ₹249 · BIRA 91 (B9 BEVERAGES LIMITED) ₹80 · ZEPTO ₹32 · ORAVEL STAYS (OYO ROOMS) ₹24.5 · HUTTI GOLD MINES COMPANY LIMITED ₹1,19,838 — INDICATIVE, NOT AN OFFER TO DEAL —TODAY'S INDICATIVE PRICES — PARAG PARIKH FINANCIAL ADVISORY SERVICES LIMITED ₹20,200 · CAPGEMINI TECHNOLOGY SERVICES INDIA LIMITED ₹10,400 · HDFC SECURITIES LIMITED ₹7,990 · NATIONAL STOCK EXCHANGE (NSE) ₹1,975 · BOAT (IMAGINE MARKETING LIMITED) ₹895 · CHENNAI SUPER KINGS (CSK) ₹249 · BIRA 91 (B9 BEVERAGES LIMITED) ₹80 · ZEPTO ₹32 · ORAVEL STAYS (OYO ROOMS) ₹24.5 · HUTTI GOLD MINES COMPANY LIMITED ₹1,19,838 — INDICATIVE, NOT AN OFFER TO DEAL —