Shree Refrigerations Limited has announced key leadership appointments following its board meeting held on February 23, 2026, at the MCCIA Trade Tower in Pune. The company submitted the outcome to BSE Limited pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and subsequently provided formal intimation on February 24, 2026.

Board Meeting Details and Appointments

The board meeting commenced at 12:00 P.M. and concluded at 3:40 P.M. at Bajaj Conference Hall No. 2, MCCIA Trade Tower, Pune. The company made three strategic appointments to strengthen its management structure and ensure regulatory compliance.

Whole Time Director Appointment

Based on the recommendation of the Nomination and Remuneration Committee, the board approved the appointment of Ms. Rajashri Ravalnath Shende (DIN: 02028006) as Whole Time Director for a period of 5 years commencing from February 23, 2026 to February 22, 2031. This appointment is subject to approval by shareholders at the ensuing general meeting.

Ms. Rajashri Ravalnath Shende is a promoter and founding member of the company. She holds an M.Sc. in Physics and completed her Diploma in Electronic and Telecommunication Engineering in 1986. Her professional background includes serving as a lecturer in Electronics at a Polytechnic, where she progressed to become Head of Department.

Additional Director Designation

The board appointed Ms. Rucha Ravalnath Shende (DIN: 11546908) as Additional Director in the category of Whole Time Director, effective from February 23, 2026. She will hold office until the date of the next Annual General Meeting or the last date on which the AGM should have been held, whichever is earlier.

Ms. Rucha Ravalnath Shende is a Mechanical Engineer with extensive experience in HVAC, Plumbing, and Fire Protection design. She has been working in this field since 2019 and possesses expertise in using REVIT and AutoCAD on institutional, healthcare, laboratory, and public sector projects. She is currently associated with T & M Associates, USA.

Company Secretary and Compliance Officer

Mr. Tanmay Mukund Pethkar was appointed as Company Secretary and Compliance Officer (Whole Time Key Managerial Personnel) effective from February 23, 2026. The appointment was made based on the recommendation of the Nomination and Remuneration Committee. The company formally intimated BSE Limited about this appointment on February 24, 2026.

Mr. Tanmay Mukund Pethkar brings extensive experience in secretarial practices, regulatory filings, governance advisory, SEBI (LODR, PIT, RPT) compliances, board processes, and investor relations. He has previously worked with J.B. Bhawe & Co., Pune, and other reputed Company Secretary firms.

Family Relationships and Regulatory Compliance

The appointments reflect clear disclosure of relationships between directors as required under regulatory guidelines:

All appointees have been confirmed as not being debarred from holding their respective offices by SEBI or any other regulatory authority, in accordance with BSE circular LIST/COMP/14/2018-19. The board also approved the alignment of Shree Refrigerations Limited Employees Stock Option Plan September - 2024, as per SEBI (Share Based Employee Benefit and Sweat Equity) Regulations, 2021.

Shree Refrigerations Limited has secured a substantial defense contract worth Rs 28.59 crore from the Controller Procurement, Material Organisation, Visakhapatnam. The order involves the supply of 13 MBC Based AC Plants along with OB spare parts, reinforcing the company's strong position in the defense segment.

Order Details and Specifications

The contract details reveal a comprehensive supply arrangement with specific technical requirements:

The order represents a domestic supply contract with no related party transactions involved. The company confirmed that promoters and group companies have no interest in the entity that awarded the contract.

Strong Order Book Performance

The latest contract adds to Shree Refrigerations' impressive order accumulation in recent months. The company has disclosed receiving multiple fresh orders worth more than Rs 40 crore in the last 2 months from the Indian Navy. These orders predominantly pertain to:

• Retrofitting and upgrading existing equipment with newer, higher performance systems
• Replenishing spare parts for previously installed equipment
• Mission-critical HVAC and refrigeration systems

With these additions, the company's total closing order book now exceeds Rs 320 crore (excluding GST), providing strong medium-term revenue visibility.

Financial Performance Highlights

Shree Refrigerations Limited has demonstrated robust financial performance during the current financial year:

The company has surpassed its total revenue of the previous financial year within the first nine months, driven by steady order inflows and disciplined project execution.

Strategic Positioning and Outlook

The defense orders enhance Shree Refrigerations' market position in mission-critical applications and reflect continued confidence from defense establishments in the company's engineering capabilities. The projects will be executed using indigenously developed technologies, aligning with India's focus on self-reliance in critical infrastructure.

Based on current order visibility and execution momentum, the company continues to execute orders in alignment with its guidance of 40 percent year-on-year revenue growth for the financial year. The latest defense orders further strengthen the order book and provide improved earnings visibility, positioning the company for sustained growth supported by a diversified project pipeline.