Shree Refrigerations Limited (SRL) has announced a significant boost to its order book with new contracts worth ₹49.34 crore from Mazagon Dock Shipbuilders Limited (MDL), a government-owned shipyard under the Ministry of Defence. This development marks another milestone for the company in the defence sector, following a recent major contract with Hindustan Shipyard Ltd.

Order Details

The newly secured orders from MDL include:

Recent Contract History

This latest achievement comes on the heels of a substantial ₹106.62 crore contract awarded to SRL by Hindustan Shipyard Ltd (HSL). That contract was for HVAC solutions for five Fleet Support Ships (FSS) of the Indian Navy.

Company's Expertise

The consecutive order wins underscore SRL's strong position in the naval defence sector. The company has demonstrated its capabilities in:

• Robust engineering
• Efficient project execution
• Delivery of end-to-end HVAC solutions
• Providing energy-efficient and technologically advanced systems for defence platforms

Contract Specifics

For the MDL order of ₹25.60 crore:

• Purpose: Supply of B&D Spares for AC Plant - P17A
• Timeline: 7 months from the date of purchase order placement
• Nature: Domestic procurement

Market Impact

These new orders are expected to strengthen SRL's position in the defence sector and potentially impact its financial performance positively. The company's ability to secure contracts from major government shipyards like MDL and HSL indicates its growing prominence in specialized HVAC systems for naval applications.

Investors and market watchers may view this development as a sign of SRL's expanding footprint in the defence sector, which could lead to sustained growth and potentially improved market valuation.

As Shree Refrigerations continues to build its order book with high-value contracts from prestigious clients, it reinforces its status as a key player in the specialized HVAC systems market, particularly for naval and defence applications.

Shree Refrigerations Limited (SRL) has secured a significant order worth Rs. 19.16 crore from Mazagon Dock Shipbuilders Ltd (MDL) for supplying turnkey HVAC solutions for 14 Fast Patrol Vessels (FPVs) destined for the Indian Coast Guard. This latest contract reinforces SRL's position in the defence and marine HVAC solutions sector within India's shipbuilding and maritime security ecosystem.

Order Details

The order, officially disclosed in a regulatory filing, involves the supply of Turnkey HVAC Systems for the yard 16514 (14 FPVs) Project for Coast Guard Ships. The exact value of the order is Rs. 19.16 crore, with a delivery timeline extending to September 19, 2029.

Recent Successes

This new contract follows a series of recent achievements for SRL in the naval sector:

1. SRL received a substantial order of Rs. 106.62 crore from Hindustan Shipyard Ltd (HSL) for HVAC solutions for five Fleet Support Ships (FSS) of the Indian Navy.

2. The company is currently executing a similar FPV project with Goa Shipyard Ltd (GSL) for 8 vessels, with the first ship already delivered to the Coast Guard.

3. SRL has also secured a supply order worth Rs. 4.13 crore from Material Organisation (Mumbai) for the supply of Magnetic Bearing Compressor Based AC Plant. This domestic order includes GST and has a delivery timeline of September 20, 2026.

Strategic Implications

These consecutive wins underscore SRL's growing prominence in the naval and maritime security sector. The company's ability to secure contracts from major shipyards like Mazagon Dock Shipbuilders, Hindustan Shipyard, and Goa Shipyard demonstrates its strong capabilities in delivering end-to-end HVAC solutions for defence and marine platforms.

Market Position

SRL's recent successes position it as a trusted partner in India's shipbuilding and maritime security ecosystem. The company's expertise in providing specialized HVAC solutions for naval vessels appears to be gaining recognition among key players in the industry.

As SRL continues to build its order book with these high-profile projects, it solidifies its role in supporting India's maritime security infrastructure and shipbuilding capabilities.

It's worth noting that for the Rs. 4.13 crore supply order, the company confirmed that promoters and group companies have no interest in the awarding entity, and the transaction does not fall under related party arrangements.