Defence company receives new orders worth Rs 23,74,67,383.20 from Material Organisation (Mumbai) & Mazagon Dock Shipbuilders Ltd

Shree Refrigerations Limited has recevied new orders with a combined value of Rs 23,74,67,383.20. These orders come from two significant entities: Material Organisation (Mumbai) and Mazagon Dock Shipbuilders Ltd. The first order, from Material Organisation (Mumbai), is a domestic contract for the supply of a Magnetic Bearing Compressor-Based AC Plant. The total value of this specific order is Rs 4,12,65,000. This supply order is to be executed with a delivery timeline of September 20, 2029.

The second order is from Mazagon Dock Shipbuilders Limited, a government undertaking under the Ministry of Defence. This domestic contract involves the supply of a Turnkey HVAC System for the yard 16514 (14FPVs) project, which is for Coast Guard Ships. The value of this order is Rs 19,62,02,383.20. The delivery timeline for this project is September 19, 2029.

This recent win for Shree Refrigerations Limited follows another significant order worth Rs 106.62 crore awarded to the company by Hindustan Shipyard Ltd. Additionally, the company is also working on a similar FPV project with Goa Shipyard Ltd for 8 vessels, with the first ship already delivered to the Coast Guard. These consecutive projects highlight the company's strong capabilities in providing comprehensive HVAC solutions for defence and marine platforms, solidifying its role as a key partner in India's shipbuilding and maritime security sectors.

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About the Company

Shree Refrigerations Ltd (SRL), incorporated in 2006, is a manufacturer specialising in advanced refrigeration and HVAC systems primarily for the domestic, industrial and defence sectors. The company's product line includes chillers, refrigeration and air-conditioning appliances, as well as test equipment, marine HVAC systems and printing chillers. SRL is a key supplier to the Indian Navy, providing high-quality refrigeration equipment. Additionally, it manufactures chillers for the chemical and pharmaceutical industries and offers value-added services such as installation, testing and training, providing customised solutions to its clients.

The company has a market cap of over Rs 850 crore and has delivered a good profit growth of 43.5 per cent CAGR over the last 5 years. The stock is up 68.3 per cent from its 52-week low of Rs 153 per share.

Disclaimer: The article is for informational purposes only and not investment advice.