Shree Refrigerations Secures ₹49.34 Crore Defence Orders

26 Sep 2025 , 10:56 AM

Shree Refrigerations Ltd (SRL), a leading provider of cooling solutions for the defence sector, saw its shares surge 2.6% intraday Friday as of 10:52 am. The stock rally followed the company’s announcement that it had secured multiple domestic defence orders.

The first order, worth ₹45.22 crore, comes from Mazagon Dock Shipbuilders for the supply of B&D spares for AC plants onboard P17A class ships and turnkey HVAC systems.

The company also received a ₹4.62 crore order from the Material Organisation (Mumbai) for the supply of a magnetic bearing compressor-based AC plant. Together, these new contracts add ₹49.34 crore to SRL’s order book.

These recent wins follow a ₹106.62 crore order from Hindustan Shipyard in August. SRL is also engaged in a Fast Patrol Vessel (FPV) project with Goa Shipyard Ltd for eight vessels, with the first ship already delivered to the Coast Guard.

In its regulatory filing, SRL highlighted that consecutive order wins showcase the company’s engineering expertise, project execution capabilities, and proven track record in delivering energy-efficient, technologically advanced HVAC solutions for defence platforms.

In early September, SRL announced a strategic partnership with Smardt Chillers Pte Ltd, a global leader in oil-free chillers for data centre cooling, opening opportunities beyond its traditional defence base and expanding its commercial cooling segment.

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