Shree Refrigerations Limited (SRL), a leading Indian engineering company specializing in precision air-conditioning and refrigeration solutions, has announced a strategic partnership with Smardt Chillers Pte Ltd, a global leader in oil-free chillers for data center cooling solutions. This collaboration marks a significant expansion for SRL beyond its traditional defense sector focus into the rapidly growing commercial data center cooling market in India.

Partnership Details

The Memorandum of Understanding (MoU) was executed through Trezor Technologies Pvt. Ltd., a wholly-owned subsidiary of Shree Refrigerations. This partnership will introduce advanced magnetic bearing chiller technology specifically designed for mission-critical data center applications in India.

Technological Advantages

Smardt chillers, which utilize magnetic bearings instead of oil, offer several key benefits:

• 20-50% higher energy efficiency compared to conventional oil-lubricated chillers
• Lower maintenance costs
• Improved reliability for mission-critical infrastructure

Market Opportunity and Growth Prospects

The partnership aligns with SRL's broader growth strategy and positions the company to capitalize on India's booming data center market. Key points include:

• SRL expects this new vertical to contribute 10-15% of revenues over the next three years
• The company has already manufactured, installed, and commissioned over 40 magnetic bearing chillers in India
• This expansion allows SRL to diversify beyond its established leadership in defense and industrial cooling

Industry Perspectives

Mr. RG Shende, Chairman & Managing Director of Shree Refrigerations Limited, commented on the development: "Our association with Smardt allows us to deliver cutting-edge magnetic bearing chiller technology to Indian customers, strengthening our commitment to deliver efficient and reliable cooling solutions for mission-critical infrastructure."

Derek Chan, Director Data Centers (Asia Pacific) at Smardt Chillers Pte Ltd, added: "India is one of the fastest-growing data center markets globally, and we are delighted to work with Shree Refrigerations Limited to bring our world-class magnetic bearing chiller technology to this market."

Implications for India's Digital Infrastructure

This strategic move positions SRL to play a vital role in building India's digital infrastructure while aligning with the government's vision of energy-efficient, sustainable growth. The partnership combines Smardt's cutting-edge global technology with SRL's strong industry presence and technical expertise, aiming to deliver unmatched value to customers seeking energy-efficient and future-ready cooling solutions for data centers in India.

As the demand for efficient data center cooling solutions continues to grow in India, Shree Refrigerations Limited's partnership with Smardt Chillers Pte Ltd represents a significant step towards meeting this need with advanced, energy-efficient technology.

Shree Refrigerations Limited , a key player in the refrigeration industry, has taken a significant step forward by formalizing a partnership with Smardt Inc., the global leader in high-efficiency chillers. The company submitted a detailed corporate presentation to the Bombay Stock Exchange (BSE) following a formal agreement exchange event held on September 9, 2025, at the prestigious ITC Maratha in Mumbai.

Strategic Alliance Unveiled

The corporate presentation, signed by Managing Director Ravalnath Gopinath Shende, offers comprehensive insights into Smardt Inc.'s operations and technological prowess. This strategic move positions Shree Refrigerations to leverage Smardt's three decades of expertise in oil-free chiller technology, potentially revolutionizing its product offerings and market reach.

Smardt Inc.: A Global Powerhouse

Smardt Inc., renowned for its leadership in high-efficiency chillers, boasts an impressive global footprint:

• 30 years of experience in oil-free chiller technology
• 7 manufacturing facilities worldwide
• 8 sales offices spanning key regions
• Presence in Americas, Europe, Middle East, Africa, Greater Asia Pacific, and Greater China

Diverse Market Penetration

The presentation highlights Smardt's extensive reach across various sectors, including:

• Commercial and Industrial applications
• Healthcare and Pharmaceutical industries
• Data Centers
• Government and Educational institutions
• Hospitality and Transportation sectors

Cutting-Edge Product Range

Smardt's product lineup showcases its technological superiority:

• Chiller capacity range: 60-3600 TonR (210-12,660 kWR)
• Product types include water-cooled, air-cooled, and evaporative-cooled chillers
• Specialized offerings like low GWP HFOs and central plant optimization controls

Innovative Features

The partnership brings several advantages to Shree Refrigerations, including access to Smardt's innovative technologies:

• Smardt Restart™: Industry's fastest chiller restart (< 20 seconds)
• Enhanced reliability with oil-free technology
• Reduced maintenance costs (up to 50% reported by customers)
• Ultra-low sound levels and vibration

Event Highlights

The formal agreement exchange event, held at the Ball Room–4 of ITC Maratha, saw participation from various stakeholders:

• Representatives from financial institutions like Lucky Investment and IDBI Capital Market and Securities Limited
• Analysts from Narnolia Financial Services Limited
• Independent directors of Shree Refrigerations Limited
• High Net Worth Individuals (HNIs) and representatives from Aarth AIF and Niveshaay

Regulatory Compliance

In adherence to Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements, Shree Refrigerations Limited assured that no Unpublished Price Sensitive Information (UPSI) was shared during the event.

This strategic alliance between Shree Refrigerations Limited and Smardt Inc. marks a significant milestone in the Indian refrigeration industry. By combining Shree Refrigerations' local market knowledge with Smardt's global expertise and cutting-edge technology, the partnership is poised to deliver innovative cooling solutions to diverse sectors across India and potentially beyond.