Defence HVAC system company receives order worth Rs 1,06,62,65,465 from Hindustan Shipyard Ltd, Ministry of Defence

Shree Refrigerations Limited has been awarded a domestic supply order from Hindustan Shipyard Limited, an entity under the Ministry of Defence. The contract, valued at Rs. 1,06,62,65,465, is for the supply of an HVAC (Heating, Ventilation and Air Conditioning) system for five Fleet Support ships. The project also includes the application and installation of the system, with the final delivery scheduled to be completed by March 31, 2028.

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Earlier, the company received a domestic order from the Material Organisation (Vizag) for the manufacturing and supply of Unit Coolers. The total value of the order is Rs 3,57,25,203.14 and the company has a delivery timeline of six months from the date the supply order was executed. This contract is for the supply of Unit Coolers, which are typically used in refrigeration and air conditioning systems.

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 Rs 766 crore and has delivered a good profit growth of 43.5 per cent CAGR over the last 5 years. The stock is up over 40 per cent from its 52-week low of Rs 153 per share.

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