Synopsis:
Shree Refrigerations Ltd strengthens its defence HVAC portfolio with multiple contracts, including Mazagon Dock and Hindustan Shipyard orders, boosting its order book by Rs. 49.34 crore and reinforcing its market leadership.
The defence HVAC stock attracted renewed investor interest as a fresh naval contract from Mazagon Dock Shipbuilders pushed shares higher, reflecting confidence in the company’s order momentum and its positioning as a key indigenous supplier in shipbuilding projects.
Shree Refrigerations Ltd, with a market capitalization of Rs. 903.23 crore, opened at Rs. 244, touched an intraday high of Rs. 261.50, and closed near its day’s range. The surge from the previous close of Rs. 242.75 to the high reflects an intraday gain of approximately 7.75 percent.
What’s the News?
The company announced a fresh order worth Rs. 25.60 crore from Mazagon Dock Shipbuilders Ltd for the supply of B&D spares for AC plants onboard P17A class ships. The project will be executed within seven months from the date of purchase order placement.
Shree Refrigerations highlighted that this order builds upon its recent contract momentum, which included Rs. 19.62 crore for a turnkey HVAC system from Mazagon Dock Shipbuilders, Rs. 4.12 crore for a magnetic bearing compressor-based AC plant from Material Organisation, Mumbai.
These new orders add Rs. 49.34 crore to SRL’s order book.. This was shortly preceded by a landmark Rs. 106.62 crore contract secured on 25th August 2025 from Hindustan Shipyard Ltd for HVAC solutions for five Fleet Support Ships of the Indian Navy. These back-to-back wins reaffirm the company’s strong position in delivering technologically advanced and energy-efficient HVAC systems for defence applications.
Also Read: Microcap stock in focus after securing ₹4 Cr contract from Hindustan Aeronautics
Financial Snapshot
For FY25, the company reported sales of Rs. 99 crore, up 23.8 percent from Rs. 80 crore in FY24. Operating profit increased to Rs. 27 crore, up 8 percent from Rs. 25 crore, while profit before tax rose to Rs. 19 crore, up 11.8 percent from Rs. 17 crore. Net profit grew to Rs. 14 crore, up 16.7 percent from Rs. 12 crore, with compounded profit growth of 66 percent over the past three years.
Reserves nearly doubled to Rs. 109 crore, up 94.6 percent from Rs. 56 crore, while borrowings increased modestly to Rs. 42 crore, up 10.5 percent from Rs. 38 crore. Fixed assets expanded to Rs. 18 crore, up 50 percent from Rs. 12 crore, and total assets rose to Rs. 186 crore, up 50 percent from Rs. 124 crore. Net cash flow stood at Rs. 5 crore.
About the Company
Shree Refrigerations Ltd, headquartered in Karad, Maharashtra, traces its origins to 1990 as a partnership firm before converting to a private limited company and subsequently into a limited company in 2024.
It specializes in chillers, refrigeration units, and air-conditioning appliances within the HVAC segment. The company caters to sectors such as automotive, print media, chemicals, pharmaceuticals, and general engineering. It also manufactures marine chillers and holds key supplier approvals from Indian Navy directorates, reinforcing its strategic role in naval projects.
Written By Manan Gangwar
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