Shree Refrigerations Limited has secured purchase orders worth Rs 2,54,83,281.65 from Mazagon Dock Shipbuilders Limited for the supply of air conditioning spares and maintenance services. The orders, secured on June 4, 2026, exclude GST and applicable taxes. The contract involves the supply of OBS Spare and B & D Spare for AC Plant, along with FCU Repair, maintenance, and installation.

The disclosure was made to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The orders were awarded by a domestic entity, and the company confirmed there is no interest from the promoter or group companies in the entity awarding the contract. The transactions do not fall under related party transactions.

Execution and delivery obligations are scheduled on differentiated timelines. The first order involves door delivery within 12 months from the date of the purchase order. The second order is scheduled for completion by June 7, 2027.

Order Details

The company stated that the supply of goods and services will be made against two distinct purchase orders. The information has been uploaded on the company's website.

Shree Refrigerations Limited will inaugurate a new manufacturing facility at Karad in Maharashtra on June 20, 2026, expanding its production capacity by 50,000 square feet to strengthen its capabilities in the marine and defence HVAC&R sectors. The new plant, developed on a 6-acre area, is designed as a state-of-the-art unit with complete backward integration capabilities and compliance with Indian Green Building Council (IGBC) standards. This strategic expansion is intended to consolidate the company's position as a preferred partner for critical defence applications by enhancing its ability to design and manufacture specialised cooling solutions.

New Facility at a Glance

The following table summarises the key details of the new Karad manufacturing facility:

The facility has been designed with provisions for a further expansion of 50,000 square feet at the same location. Ravalnath Gopinath Shende, Chairman and Managing Director of Shree Refrigerations Ltd., stated that the new unit reinforces the company's focus on indigenous design and manufacturing, providing long-term lifecycle support for critical infrastructure and defence applications.

Operational Strategy and Efficiency Goals

In the initial phase, the company aims to improve efficiency and strengthen the supply chain by reducing dependency on the Pune-based supply ecosystem. The focus will be on developing stronger backward integration to manufacture components in-house, thereby improving manufacturing time and reducing logistical delays. Shende highlighted that a key metric for monitoring will be the conversion time from order confirmation to final delivery, as reducing this cycle is expected to enhance customer satisfaction and internal productivity given the customised nature of most projects.

Financial Performance

The company reported strong operational and financial performance during H2FY26 and FY26. The table below captures the key financial highlights:

This growth was supported by improved execution capabilities, higher project completion rates, and operating leverage benefits.

Strategic Positioning

Shree Refrigerations Limited is the only Indian company with naval registrations across three key segments: Chillers & Refrigeration Plants, Turnkey HVAC&R Solutions, and Electrical Control Panels. With 35 years of experience in the refrigeration industry, the firm pivoted to the defence sector less than a decade ago. Its portfolio includes Electrical Control Panels for defence platforms and Heavy Fabrication Services supporting large-scale defence manufacturing requirements.