Synopsis:
Shree Refrigerations Ltd shares rose over 19% after the company secured two domestic work orders worth Rs. 23.75 crore.
A micro-cap company that is a defence-focused manufacturer of advanced refrigeration and HVAC systems, is in the spotlight today after securing two work orders worth Rs. 23.75 crore from Mazagon Dock Shipbuilders Limited and Material Organisation (Mumbai).
With the market capitalization of Rs. 887.02 crore, the shares of Shree Refrigerations Ltd is trading at Rs. 248.95, up by 17.87 percent from its previous day’s close price of Rs. 211.20 per equity share, and it has reached a high of Rs. 252 in the same trading day rising 19.32 percent.
Work Order
Shree Refrigerations Ltd has received a domestic order from Mazagon Dock Shipbuilders Limited (a Govt. of India undertaking, Ministry of Defence) for the supply of a turnkey HVAC system for the Yard 16514 (14 FPVs) Coast Guard Ship project. The order, valued at Rs. 19.62 crore, is to be executed with a delivery timeline by September 19, 2029.
Shree Refrigerations Ltd has received a domestic order from Material Organisation (Mumbai) for the supply of a Magnetic Bearing Compressor Based AC Plant. The order, valued at Rs. 4.13 crore (including GST), is scheduled for delivery by September 20, 2026.
Also Read: Block Deal: Stock in focus after promoter plans to sell up to 15% stake in the company
About the Company & Others
Shree Refrigerations Limited, founded in 1990 and based in Karad, India, manufactures and sells chillers, refrigeration, and air-conditioning systems along with HVAC components. Its offerings include refrigeration and chilled water plants, air and water-cooled chillers, split ACs, fan coil units, AHUs/ATUs, and specialized chillers such as UV, roller, and spray dampening types.
The company also provides HVAC installation, plant management, and repair services, catering to industries like automotive, marine, print media, chemicals, pharma, and engineering.
With a price range of Rs. 119 to Rs. 125 per equity share, Shree Refrigerations launched its initial public offering (IPO). The subscription period was open from July 25 to July 29, 2025. On August 1, 2025, the company’s shares went public on the BSE SME platform, initially trading for Rs. 169.85 each. This indicated strong investor interest and represented a listing gain of about 35.88 percent over the upper end of the issue price.
A return on equity (ROE) of about 15 percent, a return on capital employed (ROCE) of about 17.8 percent and Debt to equity ratio of 0.36, demonstrate the company’s financial position. At the moment, the company’s P/E ratio is 62.4x higher as compared to its industry average of 37.1x.
Its total income grew by 22 percent from Rs. 81.19 crore in FY24 to Rs. 99.10 crore in FY25, accompanied by profits growth of 17.52 percent from Rs. 11.53 crore in FY24 to 13.55 crore in FY25.
Written by Akshay Sanghavi
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